Indian billet prices remained volatile as trades subdued in across regions. The prices rise by around INR 100-200/MT in major markets except in southern India – Hyderabad where it drop by INR 500/MT on day trade activities.
Inline rebar prices slump by INR 100-500/MT owing to limited spot trades & sufficient stock with the mills. However sponge iron prices surge by INR 100-200/MT, day on day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-29,300/MT (USD 373-426) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,400-17,400/MT (USD 238-253); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 31st July 2019 (Wednesday) INR to USD exchange rate stood at INR 68.81.
— ICEX (Indian Commodity Exchange Ltd) Aug’19 contract for STEELLONG today open at INR 27,930/MT & last traded (IST 18:19) at INR 27,850/MT.
— BSE Sensex closed at 37,481(+83) on Wednesday, as against last day (Tuesday) at 37,397(-289).
— NSE Nifty50 index was closed today at 11,118(+32) & Nifty Metal at 2,588(+61).
Raw Materials
— As per vessel lineup data maintained with SteelMint, a vessel named ‘Hoihow’ carrying 35,200 MT of ferrous scrap from USA is expected to arrive at Kandla port on 31st Jul’19.
Semi Finished
— Indian sponge iron export offers for 80 FeM sponge lumps are at USD 270-275/MT CPT Benapole (dry land port of Bangladesh & India) and USD 285-290/MT CNF Chittagong, Bangladesh.
— Foundry grade pig iron offers assessed at around INR 32,300-32,600/MT FoR Ahmedabad, excluding GST.
— Major sponge producers in Raipur have raised sponge P-DRI prices by INR 100/MT to INR 16,200/MT ex-plant and as per conversation sufficient bookings made by Ingot/Billet manufacturers.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at INR 16,500/MT, ex-plant & excluding GST.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 17,500/MT & Billet at INR 28,000/MT ex-plant.
— 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 increased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,500/MT & INR 16,90/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Wire rod trade discounts & base price steady in Raipur at INR 1,600-1,800/MT & INR 31,900/MT (ex-plant), respectively.
— 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 32,500-33,000/MT ex-plant & excluding GST.
Rebar (12 mm)
— Raipur based – SPEED TMT is offering at INR 30,100/MT (up by INR 100/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) has unchanged their offers at INR 30,000/MT.
— Gujarat based Diamond TMT has unchanged their offers at INR 33,300/MT.
— Mumbai based Sun Metallics and Alloy Pvt. Ltd. (SUN TMT) is offering at INR 30,500/MT(down by INR 200/MT).
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT ) is offering at INR 31,400/MT(down by INR 400/MT).
— South region based – VRKP Steel Industry Pvt Ltd – (VRKP TMT) is offering at INR 33,100/MT (down by INR 300/MT).
— Real Ispat (GK TMT) has unchanged their offers at INR 32,500/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 31st July 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,200 | 22,100 | 22,300 | + 100 | 22,100 | 23,800 |
| Ex-Mumbai | HMS(80:20) | 21,000 | 20,800 | 21,200 | 0 | 21,200 | 22,500 | |
| Ex-Chennai | HMS(80:20) | 20,200 | 20,100 | 20,400 | 0 | 20,300 | 22,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,400 | 17,300 | 17,500 | 0 | 17,700 | 18,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,600 | 17,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | + 100 | 17,500 | 17,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | + 100 | 16,600 | 16,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,700 | 17,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | + 100 | 16,500 | 16,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,800 | 15,700 | 15,900 | 0 | 16,200 | 16,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,600 | 17,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,200 | 29,100 | 29,300 | 0 | 29,700 | 31,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | 0 | 26,200 | 28,250 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,400 | 25,300 | 25,500 | + 100 | 25,700 | 27,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | + 100 | 26,300 | 27,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,200 | 27,100 | 27,300 | 0 | 27,650 | 29,300 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,300 | 29,200 | 29,400 | 0 | 29,800 | 31,800 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,400 | 26,300 | 26,400 | 0 | 26,700 | 28,650 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | + 100 | 26,100 | 27,800 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,300 | 26,200 | 26,400 | + 50 | 26,800 | 28,400 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,700 | 28,600 | 28,800 | + 100 | 28,800 | 30,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 27,900 | 29,500 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 29,200 | 29,100 | 29,300 | – 50 | 29,200 | 29,900 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,100 | – 500 | 28,500 | 29,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,800 | 33,700 | 34,100 | – 100 | 34,200 | 35,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,600 | 30,400 | 30,800 | 0 | 31,100 | 33,700 | |
| Ex-Rourkela | 12MM, IS 1786- 415/500 Fe | 29,800 | 29,600 | 30,000 | – 200 | NA | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,800 | 29,600 | 30,000 | 0 | 30,400 | 32,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,400 | 30,200 | 30,600 | – 300 | 31,200 | 32,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,600 | 33,400 | 33,800 | – 200 | 33,700 | 34,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,000 | 31,800 | 32,100 | – 500 | 32,500 | 33,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,400 | 30,300 | 31,000 | + 100 | 30,800 | 33,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,900 | 30,200 | 31,900 | 0 | 32,200 | 34,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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