Indian Billet prices continued on down trend on the wake of weak demand in finished steel products and as per daily assessment the prices dropped by INR 200-800/MT with major corrections of INR 600-800/MT (USD 8-11) in northern region, while in remaining markets it fell by INR 100-500/MT.
Following the trend, rebar prices plunged by INR 100-500/MT & Sponge iron by INR 100-400/MT, day on day in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,200-29,000/MT (USD 355-410) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,100-16,900/MT (USD 227-239); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 5th August 2019 (Monday) INR to USD exchange rate stood at INR 70.79.
— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 27,500/MT & last traded (IST 18:14) at INR 27,120/MT.
— BSE Sensex closed at 36,699(-418) on Monday, as against last day (Friday) at 37,118(+99).
— NSE Nifty50 index was closed today at 10,862(-134) & Nifty Metal at 2,415(-43).
Raw Materials
— Serajuddin- Odisha’s major merchant iron ore miner has increased its iron ore production sharply by 38% to 1.5 MnT in Jul’19 as against 1.09 in Jun’19 -Sources.
— Raipur (central India) based pellet manufacturers have decreased their offers today by INR 300/MT, offers for Fe 63% grade to INR 6,500/MT (ex-Raipur, GST extra).
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 160/MT FoB Australia & USD 174/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 51.38/MT on FoB basis & USD 66.4/MT CNF India.
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 290/MT, CFR Nhava Sheva.
Semi Finished
— Indian induction grade Billet export offers to Nepal stood at around USD 360/MT ex-mill (Durgapur), this would be around USD 390/MT CNF Raxaul border, Nepal.
— Jindal Steel has reduced prices by INR 200/MT and latest offers for pig iron reported at INR 24,600-24,700/MT ex-Raigarh & granulated pig iron(panther shots) at INR 23,500-24,000/MT ex-Angul, Odisha.
— Mesco Steels in Jajpur, Odisha has cuts steel grade pig iron offers by INR 300/MT to INR 23,700-23,800/MT ex-plant.
— Raipur based major sponge producers have slashed sponge prices by INR 100/MT to INR 16,000-16,100/MT, however few deals learned at less than at near to INR 15,900-16,000/MT; ex-plant.
— Durgapur based Rashmi Metaliks has declined Sponge P-DRI prices by INR 300-400/MT to INR 15,300-15,400/MT, as per sources.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 16,300-16,400/MT ex-plant & excluding GST.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at INR 16,200/MT, ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,900-16,000/MT ex-Bellary, an official reported.
— Apple Industries in Bellary (Karnataka) offered Billet at INR 28,000-28,100/MT ex-plant.
— Hyderabad, South India based steel manufacturers decreased their Billet & Rebar offer by INR 500/MT to INR 27,500/MT & INR 31,500/MT (12 mm). Prices are ex-plant & excluding GST.
Wire Rod & Pipe
— Raipur based plants have reduced wire rod prices by INR 500/MT to INR 31,100/MT ex-plant. Meanwhile trade discounts stood firm at INR 1,300-1,600/MT through manufacturers & INR 1,800-2,000/MT by re-sellers.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 33,900/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 31,700-32,000/MT ex-plant & excluding GST. Offers decline by INR 300/MT D-o-D.
— Odisha based ERW pipe manufacturers offers reported at around INR 31,700/MT ex-plant & excluding GST, a Pipe (100 TPD) manufacturer reported.
Rebar (12 mm)
— Raipur based – Prime Ispat Ltd. (Tecon TMT) is currently offering at INR 29,600/MT.
— Real Ispat (GK TMT) is offering at INR 31,700/MT(down by INR 500/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 29,500/MT(down by INR 300/MT).
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 31,300/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 31,100/MT(down by INR 200/MT).
— Wardha based Sangam TMT is currently offering at INR 30,500/MT.
— Mumbai based Sun Metallics And Alloy Pvt. Ltd. (SUN TMT) is currently offering at INR 30,400/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 5th August 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,900 | 21,900 | 22,000 | – 100 | 22,300 | 23,000 |
| Ex-Mumbai | HMS(80:20) | 21,100 | 21,000 | 21,300 | – 100 | 21,200 | 21,600 | |
| Ex-Chennai | HMS(80:20) | 20,300 | 20,100 | 20,400 | – 100 | 20,200 | 21,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,300 | 16,200 | 16,400 | – 400 | 17,350 | 17,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | – 100 | 16,500 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | – 200 | 17,100 | 16,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,400 | 16,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,300 | 15,200 | 15,400 | – 400 | 16,400 | 16,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,950 | 15,900 | 16,000 | – 150 | 16,150 | 15,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | 0 | 15,900 | 16,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,400 | 0 | 16,400 | 16,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 27,800 | 27,700 | 27,900 | – 750 | 29,000 | 30,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,400 | 25,300 | 25,500 | – 300 | 25,800 | 26,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,000 | 24,900 | 25,100 | – 200 | 25,300 | 26,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,400 | 25,300 | 25,500 | – 300 | 25,800 | 26,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,900 | 26,800 | 27,000 | – 100 | 27,400 | 27,900 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 27,900 | 27,800 | 28,000 | – 800 | 29,100 | 30,200 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | – 300 | 26,350 | 27,400 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,300 | 25,200 | 25,400 | – 200 | 25,600 | 26,800 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 25,750 | 25,700 | 25,800 | – 250 | 26,150 | 27,100 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 27,700 | 27,500 | 27,700 | – 450 | 28,600 | 28,700 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,150 | 27,100 | 27,200 | – 150 | 27,600 | 28,100 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | – 100 | 29,300 | 29,600 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | – 500 | 28,500 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,100 | 33,000 | 33,300 | – 300 | 33,800 | 34,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 29,800 | 29,600 | 30,000 | – 500 | 30,800 | 32,800 | |
| Ex-Rourkela | 12MM, IS 1786- 415/500 Fe | 29,600 | 29,500 | 29,700 | – 100 | 29,800 | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,100 | 29,000 | 29,300 | – 200 | 29,900 | 31,600 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,700 | 31,000 | – 100 | 31,800 | 32,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,100 | 29,900 | 30,300 | 0 | 30,900 | 31,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,200 | 33,000 | 33,400 | – 200 | 33,800 | 34,300 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,400 | 31,700 | – 500 | 32,500 | 32,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 29,700 | 29,400 | 30,500 | – 300 | 30,300 | 32,100 |
| Ex-Raipur | Wire Rod(5.5 MM) | 29,800 | 29,100 | 31,100 | – 600 | 31,300 | 33,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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