Daily Update: Indian Sponge & Billet Market
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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
