Indian steel prices drop further on account of limited spot trades and rising stock with the mid sized mills. On daily assessment, the Rebar prices plunged by INR 100-400/t, Billet by INR 200-900/t & Sponge iron by INR 100-300/t.
The sharp reduction in Billet prices marked in Jalna by INR 900/t ($ 12), while in remaining markets the prices dropped by INR 200-600/t, day on day.
SteelMint’s price assessment for induction furnaces billet in Indian market stood at INR 28,300-31,600/t ($ 372-416) EXW.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,800-16,500/t ($ 207-217); prices are EXW & excluding GST.
Rupee & BSE Sensex
— On 15th June 2020 (Monday) INR to USD exchange rate stood at INR 76.04.
— ICEX (Indian Commodity Exchange Ltd) Jul’20 contract for STEELLONG today open at INR 30,500/t & last traded (IST 17:30 hrs) at INR 30,430/MT.
— BSE Sensex closed at 33,228(-552) on Monday, as against last day (Friday) at 33,780(+242).
— NSE Nifty50 index was closed today at 9,813(-159) & Nifty Metal at 1,928(-37).
Raw Material
— Bhushan Power & Steel has recorded iron ore sourcing at 93,086 t in May’20, rise by 51% as against 61,679 t in Apr’20.
Semi Finished
— Durgapur based Neo Metaliks has reported limited response at the offers of steel grade pig iron at INR 24,500/t EXW.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 26,800/t & INR 29,400/MT on FoR basis & excluding 18% GST.
— Rashmi Metaliks has slightly cut sponge P-DRI offers by INR 100/t to INR 15,600-15,700/t FoR Durgapur, as per sources.
— Billet deals reported at INR 28,200/t FoR Raipur from Raigarh based manufacturers.
— Raipur based sponge producers have reduced P-DRI offers by INR 300/MT to INR 15,200/MT ex-plant, however demand remains limited, as per participants.
— Raigarh based Singhal Steel offered P-DRI at INR 15,200/t & Billet at INR 27,600-27,700/t ex-Raigarh.
— BIOP Steels in South India is offering FeM 80 & 82 C-DRI lumps at INR 16,000/t & INR 16,400/t ex-plant, Karnataka.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,400/t ex-Bellary.
Rebar (12 mm)
— Rathi Stelmax TMT Bars is offering at INR 37,000/t EXW (Delhi/NCR).
— N.R TMT offers reported at INR 32,600-32,700/t EXW (Raigarh).
— Scan Group branding (Shrishti TMT) is offering at INR 33,000/t EXW (Raigarh).
— Bajrangbali Steel Industries Pvt Ltd in Rourkela is offering Rebar at INR 33,200/t EXW.
— Swarup TMT offering at INR 34,600/t EXW (Muzaffarnagar).
— Polaad TMT offers at INR 34,300/t EXW (Jalna).
— Mono TMT is offering at INR 35,400/t FoR (Ahmedabad).
— Trade discount by Raipur based heavy structure manufacturers is at INR 300-700/t and trade price of 200 Angle is at INR 34,800-35,100/t EXW.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod reduced to INR 900-1,000/t, however base price drop by INR 700/t to INR 31,900/t ex-plant. Also in Durgapur trade reference prices fell by INR 400-500/t to INR 32,400-32,700/t ex-plant.
— ERW Pipe manufacturers have decreased offers by INR 100-400/t to INR 35,300-35,400/t ex-Raipur, INR 37,600/t ex-Mandi Gobindgarh & INR 35,700-35,800/MT ex-Rourkela.
Reference prices as on 15th Jun’20
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,000 | 20,900 | 21,100 | -300 | 22,500 | 22,900 |
| Ex-Mumbai | HMS(80:20) | 20,700 | 20,600 | 20,800 | -200 | 21,200 | NA | |
| Ex-Chennai | HMS(80:20) | 21,000 | 20,900 | 21,200 | 0 | 21,400 | 21,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,500 | 16,500 | 16,600 | -300 | 17,350 | 16,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,000 | 15,900 | 16,100 | -300 | 16,600 | 15,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | -100 | 16,900 | 16,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,800 | 15,700 | 15,900 | 0 | 15,900 | 16,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,500 | 15,500 | 15,600 | -300 | 16,350 | 15,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,150 | 15,100 | 15,200 | -350 | 16,100 | 15,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,300 | 15,200 | 15,400 | -100 | 15,500 | 16,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,000 | 15,900 | 16,100 | 0 | 16,300 | 16,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,900 | -300 | 31,800 | 30,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,400 | 27,300 | 27,500 | -400 | 28,400 | 26,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,300 | 27,200 | 27,400 | -250 | 28,050 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,800 | 27,700 | 27,900 | -150 | 28,950 | 26,450 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,800 | 28,000 | -400 | 28,900 | NA | |
| Billet | Ex-Mandi Gobindgarh | 100x100mm, IS 2831 | 30,900 | 30,800 | 31,000 | -300 | 31,800 | 30,500 |
| Ex-Durgapur | 100x100mm, IS 2831 | 27,600 | 27,500 | 27,700 | -600 | 28,800 | 27,000 | |
| Ex-Rourkela | 100x100mm, IS 2831 | 27,700 | 27,600 | 27,800 | -250 | 28,500 | 26,500 | |
| Ex-Raipur | 100x100mm, IS 2831 | 28,200 | 28,100 | 28,300 | -250 | 29,450 | 26,850 | |
| Ex-Ahmedabad | 100x100mm, IS 2831 | 28,600 | 28,400 | 28,600 | -300 | 29,700 | 29,400 | |
| Ex-Mumbai | 100x100mm, IS 2831 | 28,400 | 28,300 | 28,500 | -400 | 29,300 | NA | |
| Ex-Chennai | 100x100mm, IS 2831 | 29,700 | 29,500 | 29,800 | 0 | 30,000 | 30,500 | |
| Ex-Hyderabad | 100x100mm, IS 2831 | 28,500 | 28,400 | 28,600 | 0 | 29,500 | 28,500 | |
| TMT | Ex-Delhi/NCR | 12-25mm, Induction Grade, IS 1786- 500 Fe | 35,700 | 35,600 | 36,000 | -100 | 36,900 | NA |
| Ex-Durgapur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 33,000 | 32,800 | 33,200 | -300 | 34,200 | 32,500 | |
| Ex-Rourkela | 12-25mm, Induction Grade, IS 1786- 500 Fe | 33,100 | 33,000 | 33,200 | -300 | 34,800 | 33,000 | |
| Ex-Raipur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,600 | 32,400 | 32,700 | -100 | 34,800 | 33,800 | |
| Ex-Jalna | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,000 | 33,800 | 34,200 | -100 | 35,300 | NA | |
| Ex-Mumbai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 33,500 | 33,300 | 33,500 | -400 | 34,100 | 34,200 | |
| Ex-Chennai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 35,600 | 35,600 | 36,000 | 0 | 35,800 | 36,300 | |
| Ex-Hyderabad | 12-25mm, Induction Grade, IS 1786- 500 Fe | 33,000 | 32,900 | 33,100 | -300 | 34,000 | 34,500 | |
| Wire Rod | Ex-Durgapur | 5.5 mm, Wire Rod, Induction grade | 32,500 | 32,400 | 32,700 | -500 | 33,500 | 31,300 |
| Ex-Raipur | 5.5 mm, Wire Rod, Induction grade | 31,400 | 31,000 | 31,900 | -700 | 33,200 | 31,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply