Daily Update: Indian Sponge & Billet Market
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Indian steel prices marginally fluctuates today by INR 100-300/MT post a constant rise since a week duration.
As per mid sized mills, due to holidays for coming couple of days the trade inquiries was limited today. However they are hopeful for further improve demand with the resume activities from coming week.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 31,200-34,500/MT (USD 438-485) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,300-20,700/MT (USD 271-291); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 25th January 2019 (Friday) INR to USD exchange rate stood at INR 71.12.
-- ICEX (Indian Commodity Exchange Ltd) Feb'19 contract for STEELLONG today open at INR 33,290/MT & last traded (IST 18:16) at INR 33,250/MT.
-- BSE Sensex closed at 36,025(-169) on Friday, as against last day (Thursday) at 36,195(+86).
-- NSE Nifty50 index was closed today at 10,780(-69).
Raw Materials
-- Rungta Mines - India's largest private merchant miner produced 2.08 MnT iron ore from its mines in Odisha in Dec'18, down 5% M-o-M as against 2.2 MnT in Nov'18.
-- Dubai origin containerised HMS 1 is being offered at around USD 318-320/MT, CFR Nhava Sheva
-- Melting scrap offers in Western India- Gujarat decline by INR 300/MT in a day trade activities.
Semi Finished
-- Indian sponge iron export offers to Bangladesh for lumps FeM 78-80, recorded at USD 315/MT CPT Benapole (dry land port of Bangladesh & India) and USD 335/MT CFR Chittagong, Bangladesh.
-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,900-19,100/MT & Sponge DR CLO grade at INR 21,500-21,700/MT ex-plant.
-- Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 20,300/MT & Sponge mix material (60:40) at INR 20,000/MT ex-plant.
-- Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 31,200/MT ex-plant as per officials.
-- Odisha based sponge manufacturer sold FeM 80 C-DRI lumps to Jalna (Maharashtra) at around INR 21,800/MT FoR Jalna.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,500/MT & Billet at INR 31,300/MT ex-plant.
-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,300/MT & INR 19,600/MT ex-plant, Karnataka; an official reported.
-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 18,800-19,000/MT ex-plant, an official reported.
Wire Rod & Pipe
-- Raipur based wire rod manufacturers keep prices unchanged and trade discount through the manufacturers/suppliers is around INR 700-1,000/MT. The offers for 5.5 mm wire rod is hovering around INR 38,100/MT ex-Raipur & INR 37,000-37,200/MT ex-Durgapur.
-- Raipur, Central India based ERW pipe manufacturers increased prices by INR 400-500/MT & offers reported at around INR 37,400-37,500/MT ex-plant & excluding GST.
-- Mandi Gobindgarh, North India based ERW pipe manufacturer offers reported at around INR 40,200/MT ex-plant & excluding GST.
-- East region based - Shakambhari Ispat & Power Ltd. offered Wire Rod 5.5 mm at INR 37,000/MT.
Rebar (12mm)
-- Raipur based - SPEED TMT unchanged their offering at INR 35,300/MT.
-- Raipur based - GK TMT unchanged their offering at INR 37,500/MT.
-- Raigarh based Anjani Steels Ltd. (Radhe TMT) offering at INR 35,400/MT (Down by INR 200/MT).
-- Raigarh based Scan Group branding Shrishti TMT unchanged their offering at INR 35,500/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) unchanged their offering at INR 38,400/MT FoR.
-- Gujarat based Akshar Ispat Ltd. (Akshat TMT) unchanged their offering at INR 38,100/MT FoR.
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 36,600/MT (Up by INR 100/MT).
-- Mumbai based Guardian Castings Pvt. Ltd. (Guardian TMT) offering at INR 36,800/MT (Up by INR 100/MT).
-- Chennai based Shakti Ferro Alloys, (SSI TMT) unchanged their offering at INR 37,000/MT.
-- Chennai based ARS Steel (ARS 500 D) unchanged their offering around at INR 40,500/MT.
Note - Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 25th January 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,800 | 25,700 | 25,900 | - 300 | 25,400 | 26,600 |
| Ex-Mumbai | HMS(80:20) | 25,100 | 24,900 | 25,200 | 0 | 24,900 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 24,300 | 24,200 | 24,500 | 0 | 24,200 | 24,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,600 | 20,500 | 20,700 | - 100 | 19,800 | 20,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | - 100 | 19,050 | 20,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | - 100 | 19,800 | 21,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,200 | 20,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | - 100 | 18,600 | 19,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | - 100 | 18,200 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | 0 | 18,800 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 19,500 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,050 | 34,000 | 34,100 | - 50 | 33,100 | 34,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | 0 | 30,250 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | - 200 | 29,800 | 30,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,000 | 31,200 | 0 | 30,250 | 30,750 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,400 | 0 | 32,900 | 33,300 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 34,450 | 34,400 | 34,500 | - 50 | 33,400 | 34,200 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 31,800 | 31,700 | 31,900 | - 200 | 30,650 | 31,700 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 31,200 | 31,100 | 31,300 | + 100 | 30,100 | 30,600 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | - 50 | 31,000 | 31,600 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 33,200 | 33,100 | 33,300 | - 300 | 32,800 | 33,800 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 33,100 | 33,500 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 32,500 | 32,500 | 32,700 | + 300 | 32,500 | 33,500 | |
| 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 | 37,500 | 37,400 | 37,700 | 0 | 36,800 | 37,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,100 | 36,500 | 0 | 35,500 | 36,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,000 | 34,900 | 35,200 | 0 | 34,500 | 35,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,300 | 36,800 | + 100 | 36,400 | 36,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,600 | 37,000 | 0 | 36,700 | 37,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | 0 | 36,500 | 37,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,100 | 36,900 | 37,300 | 0 | 36,300 | 37,600 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,100 | 37,200 | 38,100 | 0 | 37,300 | 38,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
