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Daily Update: Indian Sponge & Billet Market

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Semi Finished
By
BigMint Bureau
1054 Reads
28 May 2019, 18:46 IST
Daily Update: Indian Sponge & Billet Market

Indian Spot trades of Semis products gradually improved and the prices fluctuated by INR 100-200/MT day on day. In line Finished steel products, the inquiries remain limited and offers more or less firm in major markets, as reported by participants.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,600-34,100/MT (USD 439-490) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,700-19,700/MT (USD 268-283); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 28th May 2019 (Tuesday) INR to USD exchange rate stood at INR 69.63.

-- ICEX (Indian Commodity Exchange Ltd) Jun'19 contract for STEELLONG today open at INR 33,450/MT & last traded (IST 18:13) at INR 33,240/MT.

-- BSE Sensex closed at 39,749(+66) on Tuesday, as against last day (Monday) at 39,683(+248).

-- NSE Nifty50 index was closed today at 11,928(+4) & Nifty Metal at 2,992(+27).

Raw Materials

-- In Durgapur (eastern India) reference pellet price assessment stands at INR 7,000-7,200/MT (delivered) up INR 200-300/MT against last week at INR 6,900/MT.

-- NMDC fines (Fe 63%) base price from Kumaraswamy mines has picked up to INR 2,781/MT (basic) as against being last assessment at INR 2,540/MT (basic).

-- Few of the major Odisha based major merchant miners including Rungta Mines, RP Sao, KJS Ahluwalia, and Kaypee Enterprises have announced hike of INR 300/MT in lumps and INR 200/MT in fines w.e f today.

-- Odisha Mining Corporation (OMC) has scheduled its next e-auction for 425,000 MT iron ore lumps on 03rd June'19. And the base price for material from Gandhamardan, Koira, and Daitari has increased by INR 100/MT against the base price of previous e-auction conducted on 04th Apr'19.

-- South African RB2 (5500 NAR) coal offers are assessed at USD 54.12/MT on FoB basis & USD 67.12/MT CNF India.

Semi Finished

-- Punjab State Electricity Commission announces hikes tariff by 2.14% w.e.f 1st June.

-- Officials from Neo Metaliks reported trades for steel grade pig iron at INR 27,800-27,900/MT ex-plant.

-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,600-18,700/MT & Sponge DR CLO grade at INR 20,600-20,700/MT ex-plant.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,800/MT & Billet at INR 30,500-30,600/MT ex-plant.

-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge C-DRI (70:30) & P-DRI (FeM 80) at INR 20,300-20,400/MT & INR 18,800/MT, ex-plant & excluding GST.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,700-18,800/MT ex-Bellary, offers decline by INR 400-500/MT from the last trade; an official reported.

-- Apple Industries in Bellary (Karnataka) offered Billet at INR 31,300/MT ex-plant.

Wire Rod & Pipe

-- Rashmi Metaliks in Durgapur has raised Wire rod prices by INR 100/MT to INR 36,800/MT for 5.5 mm, as per sources.

-- Trade discounts in Raipur Wire rod reduced by INR 500/MT to INR 800-1,000/MT owing to drop base price by INR 500/MT to INR 37,000/MT ex-plant. Offers for 5.5 mm wire rod through the Prakash Industries reported at INR 37,000/MT ex-Raipur.

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 38,000/MT ex-plant & excluding GST. Offers up by INR 200/MT D-o-D.

Rebar (12 mm)

-- Rathi Steels based in North region is offering at around INR 38,000/MT (ex-Delhi).

-- Raipur based - SPEED TMT is offering at INR 35,300/MT (down by INR 300/MT).

-- Real Ispat (GK TMT) is offering at INR 37,000/MT (down by INR 400/MT).

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 35,600/MT.

-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 35,700/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 36,800/MT FoR.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT has unchanged their offers at INR 36,700/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 28th May 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 25,500 25,400 25,600 0 26,200 26,600
Ex-Mumbai HMS(80:20) 24,800 24,700 24,900 0 25,100 25,100
Ex-Chennai HMS(80:20) 23,600 23,500 23,800 0 23,600 24,300
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,500 19,400 19,600 0 19,700 19,300
Ex-Rourkela Mix, FeM 80%, +/-1 18,750 18,700 18,800 + 50 19,000 18,800
Ex-Raipur Mix, FeM 80%, +/-1 19,700 19,600 19,800 0 19,900 19,800
Ex-Bellary Lumps, FeM 80%, +/-1 19,000 18,900 19,100 - 100 19,100 19,100
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,300 18,200 18,400 0 18,600 18,100
Ex-Raipur Lumps, FeM 80%, +/-1 18,600 18,500 18,700 0 18,900 18,750
Ex-Bellary Lumps, FeM 80%, +/-1 18,800 18,700 18,900 - 200 18,600 18,800
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,400 19,300 19,500 0 19,100 19,300
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 33,700 33,600 33,800 0 34,550 34,100
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 31,100 31,000 31,200 0 31,700 31,300
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,100 30,000 30,100 0 30,700 30,600
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,700 30,600 30,800 + 100 31,100 30,900
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 31,700 31,600 31,800 + 100 32,600 33,500
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 34,100 34,000 34,200 0 34,900 34,400
Ex-Durgapur 100x100 mm, IS 2831 31,500 31,400 31,600 0 32,200 31,700
Ex-Rourkela 100x100 mm, IS 2831 30,600 30,500 30,600 0 31,050 31,000
Ex-Raipur 100x100 mm, IS 2831 31,200 31,100 31,300 0 31,800 31,600
Ex-Ahmedabad 100x100 mm, IS 2831 32,150 32,100 32,200 - 50 33,200 33,300
Ex-Mumbai 100x100 mm, IS 2831 32,000 31,900 32,100 + 200 33,000 33,700
Ex-Chennai 100x100 mm, IS 2831 31,900 31,800 32,000 - 100 32,000 31,900
Ex-Hyderabad 100x100 mm, IS 2831 31,700 31,500 32,000 0 32,300 32,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,200 37,000 37,400 + 100 37,800 37,800
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 36,600 36,500 36,700 0 37,100 36,500
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 35,200 35,100 35,300 - 100 35,400 35,400
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 35,000 34,800 35,200 0 35,900 36,900
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 36,700 36,500 36,900 0 36,900 37,400
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 35,700 35,500 35,900 - 100 36,000 36,000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 36,800 36,500 37,300 0 37,500 37,100
Ex-Raipur Wire Rod(5.5 MM) 36,500 36,000 37,000 - 300 37,200 38,200

Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research

28 May 2019, 18:46 IST

 

 

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