Indian sponge iron, billet & rebar prices remained slightly drop by INR 100-200/MT today owing to lessened spot trades, as per industry participants.
The producers also added that, inquiries are not up to the mark as buyers cautious to take positions due to significant fall in price range.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,100-28,900/MT (USD 354-408) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,000-16,800/MT (USD 225-237); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 6th August 2019 (Tuesday) INR to USD exchange rate stood at INR 70.82.
— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 27,000/MT & last traded (IST 18:19 hrs) at INR 26,550/MT.
— BSE Sensex closed at 36,976(+277) on Tuesday, as against last day (Monday) at 36,699(-418).
— NSE Nifty50 index was closed today at 10,948(+85) & Nifty Metal at 2,448(+32).
Raw Materials
— Orissa Mining Corp auction for 525,000 MT Fe 56% Iron ore fines fetches bid up by upto INR 150/MT against base price of INR 750/MT; entire quantity booked.
— Jindal SAW (Rajasthan) has decreased pellet prices by INR 500/MT. Current offers are at INR 7,800/MT (delivered Kandla) as against INR 8,300/MT towards the closing of last week.
— Indian pellet exports to China Up 45% in Jul’19 at 0.86 MnT, up sharply by 45% as compared to 0.59 MnT in the previous month.
— Melting scrap offers in Western India- Gujarat decline by INR 300/MT in a day trade activities.
Semi Finished
— SAIL has floated export tender for 18,900 MT prime mild steel non-alloy concast billets (150*150 mm) from IISCO Steel Plant. The last date for bid submission is 08 Aug’19.
— Mid sized mills export offers to Nepal drop further and stood at around USD 355-360/MT for Billet (100*100 mm) & USD 410/MT for Wire rod (5.5 mm) ex-mill at Durgapur, eastern India.
— Raipur based Sponge P-DRI manufacturers have maintained offers firm at INR 16,000-16,100/MT (ex-plant) despite no major inquiries. Meanwhile few deals learned from Raigarh at around INR 15,700-15,800/MT FoR Raipur for P-DRI.
— Rashmi Metaliks in Durgapur has offered Sponge P-DRI at around INR 15,200/MT, as per sources.
— Mesco Steels in Odisha has offers steel grade pig iron at INR 23,700-23,800/MT ex-plant.
— Jindal Steel is offering steel grade pig iron at INR 24,500/MT ex-Raigarh & panther shots at INR 23,500-24,000/MT ex-Angul, Odisha.
— Singhal Steel, Raigarh (Central India) based manufacturer has offered billet at around INR 25,900/MT FoR Raipur.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at INR 16,100-16,200/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. And added no major deals at this offers.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod increased at INR 2,000-2,200/MT, however base prices unchanged at INR 31,100/MT ex-plant.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 33,800-33,900/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 31,400-31,700/MT ex-plant & excluding GST. Offers decline by INR 200-300/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)
— Rathi Steels based in North region current offering around INR 34,000/MT (ex-Delhi).
— Raipur based – Prime Ispat Ltd. (Tecon TMT) is current offering at INR 29,000/MT.
— Real Ispat (GK TMT) has unchanged their offers at INR 31,700/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 29,300/MT(down by INR 200/MT).
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 32,800/MT FoR.
— 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) has unchanged their offers at INR 31,100/MT.
— Telangana based Keshree Metallurgies Pvt. Ltd. (Keshree TMT) is current offering at INR 31,700/MT.
— Chennai based ARS Steel (Trusteel – 550D) is current offering at INR 35,800/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 6th August 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,600 | 21,500 | 21,700 | – 300 | 22,100 | 22,500 |
| Ex-Mumbai | HMS(80:20) | 20,800 | 20,600 | 20,800 | – 300 | 21,000 | 21,300 | |
| Ex-Chennai | HMS(80:20) | 20,400 | 20,200 | 20,500 | + 100 | 20,200 | 21,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,150 | 16,100 | 16,200 | – 150 | 17,400 | 17,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | – 200 | 16,500 | 16,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | – 100 | 17,100 | 16,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,300 | 16,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,150 | 15,100 | 15,200 | – 150 | 16,400 | 16,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,850 | 15,800 | 15,900 | – 100 | 16,100 | 15,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | 0 | 15,800 | 15,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,400 | 0 | 16,400 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 27,800 | 27,700 | 27,900 | 0 | 29,200 | 29,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,400 | 25,300 | 25,500 | 0 | 25,900 | 26,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 24,800 | 24,800 | 25,000 | – 200 | 25,300 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,350 | 25,300 | 25,400 | – 50 | 25,900 | 26,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,950 | 26,900 | 27,000 | + 50 | 27,200 | 27,400 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,100 | + 100 | 29,300 | 30,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | 0 | 26,400 | 27,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,100 | 25,000 | 25,200 | – 200 | 25,600 | 26,500 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | – 50 | 26,250 | 26,900 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | – 200 | 28,600 | 28,100 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,250 | 27,200 | 27,400 | + 100 | 27,500 | 27,650 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,900 | 28,800 | 29,000 | – 100 | 29,250 | 29,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 28,500 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,100 | 32,900 | 33,300 | 0 | 33,900 | 34,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 29,600 | 29,400 | 29,800 | – 200 | 30,600 | 32,500 | |
| Ex-Rourkela | 12MM, IS 1786- 415/500 Fe | 29,500 | 29,400 | 29,700 | – 100 | 30,000 | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 28,900 | 28,800 | 29,100 | – 200 | 29,800 | 31,400 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,800 | 31,100 | 0 | 31,500 | 32,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,100 | 29,900 | 30,200 | 0 | 30,700 | 31,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,900 | 33,200 | – 200 | 33,800 | 34,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,400 | 31,700 | 0 | 32,500 | 32,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 29,600 | 29,300 | 30,500 | – 100 | 30,300 | 31,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 29,700 | 29,000 | 31,100 | – 100 | 30,900 | 32,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply