Daily Update: Indian Sponge & Billet Market
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Indian spot steel trade activities was limited today due to holiday mood among market participants. The manufacturers in north, west & eastern regions being confirmed, below to average trade volumes on day trades.
The prices of Rebar, Billet & Sponge iron fluctuated by INR 100-200/MT in major markets, as per daily assessment made by SteelMint.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-34,500/MT (USD 446-496) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-19,800/MT (USD 270-285); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 1st May 2019 (Wednesday) INR to USD exchange rate stood at INR 69.52.
-- ICEX (Indian Commodity Exchange Ltd) June'19 contract for STEELLONG today open at INR 33,940/MT & last traded (IST 18:15) at INR 33,920/MT.
Raw Materials
-- NMDC's Iron ore export movement has increased sharply by almost five-fold in Apr'19 & stood at 80 rakes (0.31 MnT) as compared to 16 rakes (0.06 MnT) a month before.
-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 325/MT, CFR Nhava Sheva.
-- South African RB2 (5500 NAR) coal offers are assessed at USD 58.53/MT on FoB basis & USD 71.53/MT CNF India.
Semi Finished
-- According to the data compiled by SteelMint, world's total DRI production increased by 9.4% to 97 MnT in CY18 which was around 88.68 MnT in the previous year (CY17).
-- Jindal Power Ltd (JPL) has resumed power supply to Raigarh (Chhattisgarh) based induction furnaces from midnight (30th Apr'19)-Sources.
-- Raipur based plants have raised Sponge P-DRI prices by INR 200/MT to INR 19,000-19,100/MT, however deals reported at around INR 18,900/MT ex-plant.
-- Rashmi Metaliks in Durgapur has slightly reduced sponge prices and as per sources P-DRI offered at around INR 18,000/MT.
-- Raigarh based Singhal Steel offered P-DRI at INR 18,100-18,200/MT ex-Raigarh & Billet at INR 31,500/MT FoR Raipur, officials reported.
-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,100/MT & INR 19,500/MT ex-plant, Karnataka; an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,100/MT & Billet at INR 32,000/MT ex-plant.
-- Wada (Maharashtra) based mills sourcing Billet from Bellary (Karnataka) at around INR 33,500/MT on FoR basis.
Wire Rod & Pipe
-- Trade discounts in Raipur Wire rod slightly reduced due to fall basic prices by INR 300/MT. Trade discounts by re-sellers reported at around INR 1,000/MT as against last day at INR 1,100-1,300/MT and basic offers for 5.5 mm at INR 37,900/MT ex-plant.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,200/MT ex-plant & excluding GST.
-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 37,700/MT ex-plant & excluding GST.
Rebar (12 mm)
-- Rathi Steels based in North region is offering around INR 38,400/MT (ex-Delhi).
-- Raipur based - SPEED TMT has unchanged their offers at INR 35,500/MT.
-- Real Ispat (GK TMT) is offering at INR 37,600/MT (down by INR 300/MT).
-- Raigarh based Anjani Steels Ltd. (Radhe TMT) has unchanged their offers at INR 35,700/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 38,300/MT FoR (down by INR 200/MT).
-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 37,300/MT (down by INR 200/MT).
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om TMT) has unchanged their offers at INR 37,200/MT.
-- East region based - Shakambhari Ispat & Power Ltd. is offering Wire Rod 5.5 mm at INR 37,500/MT.
Note - Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.
Reference prices as on 1st May 2019.
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,500 | 26,400 | 26,600 | - 100 | 27,000 | 26,200 |
| Ex-Mumbai | HMS(80:20) | 25,100 | 24,900 | 25,200 | 0 | 25,000 | 24,900 | |
| Ex-Chennai | HMS(80:20) | 24,300 | 24,300 | 24,500 | 0 | 24,400 | 24,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | - 100 | 19,600 | 20,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,800 | 18,800 | 18,900 | 0 | 18,700 | 18,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,600 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | 0 | 19,500 | 18,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,000 | 17,900 | 18,100 | - 100 | 18,400 | 18,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | + 150 | 18,600 | 18,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | 0 | 19,200 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,700 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | + 200 | 33,900 | 34,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | 0 | 31,300 | 31,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,600 | 30,800 | + 100 | 30,600 | 30,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | + 100 | 30,850 | 30,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | 0 | 33,200 | 32,900 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 34,600 | 34,500 | 34,700 | + 200 | 34,300 | 34,500 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 31,700 | 31,600 | 31,800 | 0 | 31,600 | 31,600 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | 0 | 30,900 | 30,800 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 31,600 | 31,500 | 31,700 | 0 | 31,450 | 31,400 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 33,250 | 33,200 | 33,300 | - 50 | 34,000 | 33,900 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 33,700 | 33,600 | 33,800 | 0 | 33,400 | 33,100 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 31,900 | 31,800 | 31,900 | 0 | 32,900 | 32,700 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | 0 | 32,300 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,500 | 37,900 | - 100 | 37,600 | 38,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | 0 | 37,000 | 36,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,300 | 35,100 | 35,500 | - 100 | 35,700 | 36,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 37,100 | 0 | 36,900 | 37,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,400 | 37,400 | 37,700 | 0 | 37,700 | 37,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,600 | 36,000 | - 200 | 36,200 | 36,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,000 | 36,600 | 37,500 | - 100 | 37,000 | 36,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,900 | 36,900 | 37,900 | - 300 | 37,900 | 38,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
