Indian Semis steel prices fall further on account of improved supply and low demand. The sponge iron offers declined by INR 100-300/MT & billet by INR 200-400/MT D-o-D in major markets.
In context to finished long (Rebar), prices marginally fluctuated by INR 100-200/MT in major locations on average trade activities.
SteelMint’s price assessment for induction furnaces billet in Indian market stood at INR 25,400-29,400/MT (USD 337-391) EXW.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,000-16,500/MT (USD 199-219); prices are EXW & excluding GST.
Rupee & BSE Sensex
— On 12th May 2020 (Tuesday) INR to USD exchange rate stood at INR 75.18.
— ICEX (Indian Commodity Exchange Ltd) May’20 contract for STEELLONG today open at INR 29,360/MT & last traded (IST 18:09 hrs) at INR 29,340/MT.
— BSE Sensex closed at 31,371(-190) on Tuesday, as against last day (Monday) at 31,561(-81).
— NSE Nifty50 index was closed today at 9,196(-42) & Nifty Metal at 1,717(+19).
Raw Material
— NMDC lowers Iron ore base price in Karnataka e-auctions by INR 300-400/MT for May.
— BMM Ispat located in Bellary, Karnataka sold around 5,000 MT pellets in nearby market at INR 6,200/MT EXW.
Semi Finished
— Induction grade billet export offers reported at USD 345/MT ex-mill at Durgapur, equivalent to USD 375/MT CPT Nepal. Few buying inquiries reported at less price by USD 5/MT than the offers.
— Sponge P-DRI offers in Raipur assessed at INR 15,000-15,200/MT ex-plant, although deals reported from Raigarh at INR 15,000/MT FoR Raipur.
— Billet deals reported at INR 26,000/MT FoR Raipur from Raigarh based manufacturers.
— Rashmi Metaliks has reduced sponge P-DRI price by INR 200/MT to INR 15,500/MT FoR Durgapur, sources reported.
— Bhaskar Steel and Ferro Alloy Ltd is offering Billet at INR 26,000/MT ex-plant.
— Neo Metaliks in Durgapur has maintained steel grade pig iron price firm at INR 23,500/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,200-16,300/MT ex-Bellary & around 3,000 MT deals reported in nearby region.
Rebar (12 mm)
— Rathi Stelmax based in North region is offering at INR 34,700/MT EXW.
— Raipur, Real Ispat (GK TMT) is offering at INR 34,700/MT EXW (down by INR 300/MT).
— Raigarh, Scan Group branding (Shrishti TMT) offers are at INR 32,200/MT EXW.
— Bajrangbali Steel Industries Pvt Ltd in Roukela is offering Rebar at INR 32,200/MT EXW.
— Mumbai, Guardian Castings Pvt. Ltd (Guardian TMT) has unchanged their offer at INR 34,300/MT EXW.
— Gujarat Mono Steel India Ltd. (Mono TMT) is offering at INR 34,400/ MT (up by INR 200/MT) FoR.
— Chennai based Suryadev Alloys and Power Ltd (Best TMT) is offering at INR 36,500/MT EXW.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod assessed at INR 700-900/MT and trade reference price drop by INR 400/MT to INR 29,000-29,200/MT ex-Raipur & by INR 200/MT to INR 30,400-600/MT ex-Durgapur.
— ERW Pipe Manufacturers have kept offers at firm level to INR 33,000/MT ex-Raipur, INR 35,800/MT ex-Mandi Gobindgarh & INR 33,300-33,400/MT ex-Rourkela.
Reference prices as on 12th May’20
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,500 | 16,400 | 16,600 | – 150 | 17,300 | 17,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,050 | 15,000 | 15,100 | – 100 | 16,400 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,000 | 15,900 | 16,100 | – 300 | 17,600 | 17,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | 0 | 16,450 | 16,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,450 | 15,400 | 15,500 | – 150 | 16,400 | 16,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,000 | 14,900 | 15,100 | – 300 | 16,750 | 16,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,200 | 16,000 | 16,300 | 0 | 16,100 | 16,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | – 100 | 16,800 | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,300 | 29,200 | 29,400 | + 50 | 29,650 | 29,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | – 200 | 26,150 | 26,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,200 | 25,100 | 25,300 | – 200 | 25,750 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,500 | 25,400 | 25,600 | – 200 | 26,000 | 26,250 | |
| Billet | Ex-Mandi Gobindgarh | 100x100mm, IS 2831 | 29,400 | 29,300 | 29,500 | 0 | 29,800 | 30,000 |
| Ex-Durgapur | 100x100mm, IS 2831 | 26,400 | 26,300 | 26,500 | – 200 | 26,600 | 26,800 | |
| Ex-Rourkela | 100x100mm, IS 2831 | 25,800 | 25,700 | 25,900 | – 400 | 26,100 | 26,200 | |
| Ex-Raipur | 100x100mm, IS 2831 | 26,000 | 25,900 | 26,100 | – 300 | 26,400 | 26,650 | |
| Ex-Chennai | 100x100mm, IS 2831 | 30,400 | 30,200 | 30,500 | + 400 | 30,000 | 30,100 | |
| Ex-Hyderabad | 100x100mm, IS 2831 | 28,000 | 27,900 | 28,100 | 0 | 28,000 | 28,000 | |
| TMT | Ex-Durgapur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 31,500 | 31,300 | 31,700 | – 200 | 31,400 | 30,600 |
| Ex-Rourkela | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,200 | 32,000 | 32,400 | 0 | 32,200 | 30,900 | |
| Ex-Raipur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,500 | 32,400 | 32,600 | – 100 | 32,800 | 30,900 | |
| Ex-Ahmedabad | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,300 | 34,200 | 34,500 | + 100 | 33,600 | 34,300 | |
| Ex-Chennai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 36,000 | 35,900 | 36,300 | + 100 | NA | 34,700 | |
| Ex-Hyderabad | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,500 | 34,300 | 34,700 | 0 | 34,500 | 32,500 | |
| Wire Rod | Ex-Durgapur | 5.5 mm, Wire Rod, Induction grade | 30,600 | 30,400 | 30,800 | – 200 | 30,500 | 29,700 |
| Ex-Raipur | 5.5 mm, Wire Rod, Induction grade | 29,200 | 29,000 | 29,800 | – 400 | 30,700 | 29,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply