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Daily Update: Indian Sponge & Billet Market

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By
BigMint Bureau
735 Reads
1 May 2019, 18:15 IST
Daily Update: Indian Sponge & Billet Market

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

1 May 2019, 18:15 IST

 

 

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