Daily Update: Indian Sponge & Billet Market
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Today, the mid size steel mills have slightly change their prices by around INR 100-200/MT due to holidays mood in major markets of South, West & Northern India.
The industry participants believed that, prices to remain volatile post the fulfledge resume works in domestic markets.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,400-33,900/MT (USD 428-478) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-20,200/MT (USD 269-285); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 14th January 2019 (Monday) INR to USD exchange rate stood at INR 70.85.
-- ICEX (Indian Commodity Exchange Ltd) Feb'19 contract for STEELLONG today open at INR 33,100/MT & last traded (IST 18:14) at INR 33,040/MT.
-- BSE Sensex closed at 35,853(-156) on Monday, as against last day (Friday) at 36,009(-96).
-- NSE Nifty50 index was closed today at 10,737(-57).
Raw Materials
-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 313/MT, CFR Nhava Sheva.
-- Local manufacturers in Raigarh offered 60-14 Silico Manganese at around INR 67,500-68,000/MT ex-plant.
Semi Finished
-- As per vessel line up data maintained by SteelMint, India's bulk pig iron exports recorded at 0.24 MnT in CY18(Jan-Dec) as against 0.58 MnT in 2017, down by 57% on yearly premises.
-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,600-18,800/MT & Sponge DR CLO grade at INR 21,100-21,300/MT ex-plant.
-- Raipur based mills sourcing Sponge iron from Odisha at around INR 20,200-20,300/MT FoR Raipur.
-- As per sources, Rashmi Metaliks in Durgapur has maintained offers & prices for Sponge P-DRI reported at around INR 19,100-19,200/MT.
-- Raigarh based Singhal Steel offered P-DRI at INR 18,100/MT ex-Raigarh, an official reported. Also, the company offered Billets at INR 31,300/MT FoR Raipur.
-- Barbil, Odisha based manufacturer reported billet & FeM 80 Sponge mix material offered at INR 30,500/MT & INR 19,200/MT ex-plant. While trade activities are weak at the offer prices.
-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,700/MT & 20,100/MT ex-plant, Karnataka; an official reported.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,600-18,700/MT ex-Bellary, an official reported.
Wire Rod & Pipe
-- Raipur based wire rod manufacturers offer unchanged and trade discount through the manufacturers/suppliers is around INR 800-1,100/MT. The offers for 5.5 mm wire rod is hovering at INR 38,100/MT ex-Raipur & INR 36,700-37,900/MT ex-Durgapur.
-- Rashmi Metaliks wire rod offers reported at INR 36,700/MT (5.5 mm) ex-Kharagpur, east India.
-- Raipur (Central India) based manufacturers kept prices at firm level, offering ERW pipe at around INR 36,800/MT; prices are ex-plant & excluding GST.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers decreased prices by INR 200/MT & offers reported at around INR 39,800/MT ex-plant & excluding GST.
-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,000/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
-- Rathi Steels based in North region unchanged their offering at around INR 38,500/MT.
-- Raipur based - SPEED TMT unchanged their offering at INR 35,200/MT.
-- Raipur based GK TMT unchanged their offering at INR 37,200/MT.
-- Jalna based kalika TMT offering at INR 36,700/MT (down by INR 200/MT).
-- Mumbai region based - Guardian TMT offering at INR 36,900/MT (offers unaltered).
-- Chennai based ARS Steel (ARS 500 D) current offering at INR 40,500/MT.
Note - The prices mentioned above are ex-work, excluding GST & changes are on day basis.
Reference prices as on 14th January 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Durgapur | HMS(80:20) | 25,500 | 25,300 | 25,700 | 0 | 25,500 | 25,700 |
| Ex-Mumbai | HMS(80:20) | 25,200 | 25,100 | 25,300 | 0 | 25,100 | 25,700 | |
| Ex-Chennai | HMS(80:20) | 24,300 | 24,100 | 24,500 | 0 | 24,400 | 24,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,100 | 20,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | - 100 | 19,400 | 20,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,150 | 20,100 | 20,200 | + 50 | 20,200 | 21,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | - 100 | 19,500 | 20,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,100 | 19,000 | 19,200 | 0 | 19,000 | 19,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,650 | 18,600 | 18,700 | - 50 | 18,600 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | 0 | 19,000 | 19,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 19,600 | 20,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | - 100 | 33,300 | 34,450 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | - 100 | 30,400 | 31,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,800 | 29,700 | 29,900 | - 100 | 29,750 | 30,350 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | 0 | 30,100 | 31,200 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,000 | 32,900 | 33,100 | - 300 | 32,500 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 33,900 | 33,800 | 34,000 | - 100 | 33,600 | 34,700 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 31,100 | 31,000 | 31,200 | - 100 | 30,800 | 31,700 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 30,400 | 30,300 | 30,500 | 0 | 30,300 | 30,600 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 31,300 | 31,200 | 31,400 | - 50 | 30,900 | 32,000 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 33,600 | 33,500 | 33,600 | 0 | 33,000 | 33,800 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 33,200 | 33,100 | 33,300 | - 300 | 32,700 | 34,100 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 32,600 | 32,500 | 32,700 | 0 | 33,000 | 33,600 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | 0 | 32,000 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,100 | 37,400 | 0 | 36,800 | 37,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | 0 | 35,800 | 36,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,000 | 34,800 | 35,200 | 0 | 34,700 | 35,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,400 | 36,900 | 0 | 36,100 | 37,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,800 | 37,200 | 0 | 37,200 | 37,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 36,700 | 37,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,800 | 36,600 | 37,000 | 0 | 36,800 | 37,600 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,100 | 37,100 | 38,100 | 0 | 37,900 | 38,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
