Indian steel prices marked slight fluctuation of INR 100-200/MT today, however spot trades improved specifically in Central region as healthy volumes of sponge iron sold out on slight reduced prices.
As per participants report, one of the major sponge supplier in Raipur holds sales for Sponge P-DRI after concluding deals of 3,000-4,000 MT at INR 16,000-16,100/MT ex-plant. Following this Ingot/Billet prices surge in the market.
In line with this, rebar market observed subdued response as stock remained more than the average maintained with the mid sized mills.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,600-29,300/MT (USD 372-426) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,300-17,400/MT (USD 236-253); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 30th July 2019 (Tuesday) INR to USD exchange rate stood at INR 68.81.
— ICEX (Indian Commodity Exchange Ltd) Aug’19 contract for STEELLONG today open at INR 28,000/MT & last traded (IST 18:21) at INR 27,910/MT.
— BSE Sensex closed at 37,397(-289) on Tuesday, as against last day (Monday) at 37,686(-196).
— NSE Nifty50 index was closed today at 11,085(-103) & Nifty Metal at 2,527(-84).
Raw Materials
— SteelMint’s assessment for Indian pellet export stands at USD 132-134/MT, CFR China
— Silicon Manganese (60-14) offers in Raipur stood at around INR 66,000/MT, however buying interest reported at near to INR 65,500-65,700/MT ex-plant.
— Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 66,000/MT ex-plant
Semi Finished
— Neo Metaliks has offers steel grade pig iron at INR 25,000/MT & Foundry grade material at INR 29,600-29,800/MT ex-Durgapur.
— As per sources, JSW Steel offers gas based DRI at around INR 17,500/MTex-plant, Dolvi (Maharashtra).
— Rashtriya Ispat Nigam Limited has invited tender for export of 10,836 MT Billets, 5,418 MT Blooms and 8,127 MT Wire Rod to Nepal. Interested bidders can submit their bids till 5 Aug’19 at 14:00 hrs.
— Raigarh based Singhal Steel offered billet at INR 25,700/MT ex-Raigarh & Billet at INR 26,200/MT FoR Raipur, officials reported.
— Central India, Raigarh based sponge manufacturer (900 TPD) has concluded a deal of Pellet sponge at INR 16,000/MT FoR Raipur.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,500/MT & Billet at INR 25,500/MT ex-plant.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at INR 16,500/MT, ex-plant & excluding GST.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 15,900-16,000/MT ex-Bellary, Karnataka.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 16,400/MT & INR 16,800/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Real Ispat in Raipur reduced Wire rod (5.5 mm) prices by INR 400/MT to INR 31,900/MT ex-plant.
— Trade discounts in Raipur Wire rod is hovering at INR 1,800/MT and base price is about INR 31,900/MT ex-Raipur & INR 30,200-31,000/MT ex-Durgapur.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 35,100/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 33,000-33,400/MT ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region current offering around INR 34,800/MT (ex-Delhi).
— Raipur based – SPEED TMT is offering at INR 30,000/MT(down by INR 300/MT).
— Raigarh based Scan Group branding (Shrishti TMT) has unchanged their offers at INR 30,200/MT.
— Gujarat based Diamond TMT is offering at INR 33,300/MT(down by INR 200/MT).
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 31,800/MT(down by INR 200/MT).
— Mumbai based Sun Metallics and Alloy Pvt. Ltd. (SUN TMT) is offering at INR 30,700/MT.
— Chennai based ARS Steel (Trusteel – 550D) has unchanged their offers at INR 36,300/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.
Reference prices as on 30th July 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,100 | 22,000 | 22,200 | – 200 | 22,100 | 24,200 |
| Ex-Mumbai | HMS(80:20) | 21,000 | 20,900 | 21,200 | – 200 | 21,300 | 22,500 | |
| Ex-Chennai | HMS(80:20) | 20,200 | 20,100 | 20,400 | 0 | 20,400 | 22,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,400 | 17,300 | 17,500 | + 50 | 17,800 | 18,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,650 | 17,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | 0 | 17,700 | 17,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,300 | 16,400 | – 100 | 16,600 | 16,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,800 | 17,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | – 50 | 16,800 | 16,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,800 | 15,700 | 15,900 | – 100 | 16,300 | 16,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,700 | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,200 | 29,100 | 29,300 | + 200 | 29,950 | 31,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | + 100 | 26,400 | 28,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,300 | 25,200 | 25,400 | 0 | 25,900 | 27,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | + 100 | 26,600 | 27,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,200 | 27,100 | 27,300 | – 200 | 27,850 | 29,350 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,300 | 29,200 | 29,400 | + 200 | 30,000 | 31,800 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,400 | 26,300 | 26,500 | + 50 | 26,900 | 28,900 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,600 | 25,500 | 25,700 | 0 | 26,200 | 27,900 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,250 | 26,200 | 26,300 | + 100 | 27,050 | 28,500 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | 0 | 28,700 | 30,600 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | – 100 | 28,150 | 29,550 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 29,250 | 29,200 | 29,300 | – 50 | 29,200 | 30,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,500 | 28,000 | 28,500 | 0 | 28,500 | 29,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,900 | 33,700 | 34,100 | + 100 | 34,300 | 35,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,600 | 30,400 | 30,800 | – 200 | 31,300 | 33,800 | |
| Ex-Rourkela | 12MM, IS 1786- 415/500 Fe | 30,000 | 29,900 | 30,100 | + 200 | NA | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,800 | 29,700 | 29,900 | – 100 | 30,500 | 32,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,700 | 30,500 | 30,900 | – 200 | 31,300 | 32,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,800 | 33,600 | 34,000 | 0 | 33,600 | 34,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,500 | 32,300 | 32,600 | 0 | 32,500 | 33,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,300 | 30,200 | 31,000 | 0 | 30,800 | 33,400 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,900 | 30,100 | 31,900 | – 400 | 32,300 | 34,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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