Indian spot steel prices fell further following limited inquiries in finished steel products, hence prices of mid-size mills corrected by INR 100-400/MT on D-o-D basis.
SteelMint’s price assessment for induction furnaces billet in Indian market stood at INR 25,900-29,700/MT (USD 343-393) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,400-16,800/MT (USD 203-222); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 9th May 2020 (Saturday) INR to USD exchange rate stood at INR 75.47.
Raw Material
— NMDC Ltd- India’s biggest iron ore producer has sharply reduced iron ore prices in Chhattisgarh, Baila fines and lump have been reduced by INR 400/MT and DR CLO by INR 470/MT.
— BMM Ispat located in Bellary, Karnataka sold around 5,000 MT pellets in nearby market at INR 6,200/MT ex-plant, as per officials.
Semi Finished
— SAIL has floated an export tender for 30,000 MT Mild Steel Concast Slab from its Bokaro Steel Plant. Offer must be valid upto 16 May’20
— Neo Metaliks in Durgapur has roll-over steel grade pig iron offers at INR 23,500/MT EXW, sources.
— Major sponge manufacturers in Raipur have maintained sponge P-DRI offers firm at INR 15,700/MT, however no major deals as buyers willing to book at below to INR 15,500/MT; ex-plant.
— Billet offers around INR 26,600/MT ex-Raipur & INR 26,600-700/MT FoR Raipur from Raigarh.
— Furnaces in Raipur reported steel grade pig iron offers at INR 23,200-300/MT FoR, through the traders.
— Bhaskar Steel and Ferro Alloy Ltd is offering Billet at INR 26,200-26300/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,200-16,300/MT ex-Bellary.
Rebar (12 mm)
— Raipur based Real Ispat has kept its offer firm, GK TMT at INR 35,300/MT EXW.
— Scan Group branding (Shrishti TMT) offers are at INR 32,200/MT EXW (down by INR 100/MT).
— Bajrangbali Steel Industries Pvt Ltd in Odisha is offering Rebar at INR 32,200/MT EXW.
— Mumbai based Guardian Castings Pvt. Ltd (Guardian TMT) has unchanged their offer at INR 34,300/MT EXW.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offer at INR 37,000/MT EXW.
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 37,000/MT EXW.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod is hovering at INR 400-600/MT and trade reference price drop by INR 500-600/MT to INR 29,900-30,100/MT ex-Raipur & by INR 300/MT to INR 31,000-31,300/MT ex-Durgapur.
— ERW Pipe manufacturers have kept offers unaltered to INR 33,200/MT ex-Raipur, INR 36,000/MT ex-Mandi Gobindgarh & INR 33,400-33,500/MT ex-Rourkela.
Reference prices as on 9th May’20
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,800 | 16,700 | 16,900 | – 200 | 17,300 | 17,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,400 | 15,300 | 15,500 | – 100 | 16,400 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | – 100 | 17,600 | 17,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | – 100 | 16,450 | 16,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,800 | 15,700 | 15,900 | – 200 | 16,400 | 16,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,500 | 15,400 | 15,600 | – 100 | 16,750 | 16,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | – 100 | 16,100 | 16,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | 0 | 16,800 | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,450 | 29,400 | 29,500 | – 200 | 29,650 | 29,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,300 | 26,200 | 26,400 | – 200 | 26,150 | 26,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,600 | 25,500 | 25,700 | 0 | 25,750 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,850 | 25,800 | 25,900 | – 150 | 26,000 | 26,250 | |
| Billet | Ex-Mandi Gobindgarh | 100x100mm, IS 2831 | 29,700 | 29,600 | 29,800 | – 100 | 29,800 | 30,000 |
| Ex-Durgapur | 100x100mm, IS 2831 | 26,800 | 26,700 | 26,900 | – 200 | 26,600 | 26,800 | |
| Ex-Rourkela | 100x100mm, IS 2831 | 26,200 | 26,100 | 26,300 | 0 | 26,100 | 26,200 | |
| Ex-Raipur | 100x100mm, IS 2831 | 26,550 | 26,500 | 26,600 | – 150 | 26,400 | 26,650 | |
| Ex-Jalna | 100x100mm, IS 2831 | 29,700 | 29,500 | 29,700 | 0 | 28,300 | 28,300 | |
| Ex-Hyderabad | 100x100mm, IS 2831 | 28,700 | 28,500 | 29,000 | – 300 | 28,000 | 28,000 | |
| TMT | Ex-Durgapur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,000 | 31,800 | 32,200 | 0 | 30,300 | 30,600 |
| Ex-Rourkela | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,200 | 32,000 | 32,400 | – 200 | 31,600 | 30,900 | |
| Ex-Raipur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,800 | 32,700 | 33,000 | 0 | 31,800 | 30,900 | |
| Ex-Ahmedabad | 12-25mm, Induction Grade, IS 1786- 500 Fe | 33,600 | 33,400 | 33,800 | 0 | 33,700 | 34,300 | |
| Ex-Chennai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 36,000 | 35,900 | 36,300 | + 200 | NA | 34,700 | |
| Ex-Hyderabad | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,700 | 34,500 | 35,000 | – 300 | 34,000 | 32,500 | |
| Wire Rod | Ex-Durgapur | 5.5 mm, Wire Rod, Induction grade | 31,000 | 30,900 | 31,400 | – 300 | 29,600 | 29,700 |
| Ex-Raipur | 5.5 mm, Wire Rod, Induction grade | 30,000 | 29,900 | 31,000 | – 600 | 29,100 | 29,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply