The prices of Billet were volatile since couple of days, however it fell by INR 100-500/MT today in major markets. Similarly slight price reduction being noticed in Rebar & Sponge iron market by INR 100-200/MT
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-34,400/MT (USD 445-494) 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.
-- On 30th April 2019 (Tuesday) INR to USD exchange rate stood at INR 69.56.
-- ICEX (Indian Commodity Exchange Ltd) May'19 contract for STEELLONG today open at INR 33,660/MT & last traded (IST 18:20) at INR 33,400/MT.
-- BSE Sensex closed at 39,031(-35) on Tuesday, as against last day (Friday) at 39,067(+336).
-- NSE Nifty50 index was closed today at 11,748(-6).
-- Odisha Mining Corporation (OMC) is to conduct next e-auction for 430,000 MT iron ore fines on 07th May'19. And the base price for material from Gandhamardan, Koira, and Daitari has remained unchanged.
-- Central India based Bajrang Power & Ispat concludes two pellet export deals of 50,000 MT each at USD 117/MT, CFR China for June shipments
-- India’s crude steel output remained largely stable at 27.33 MnT in the current quarter which was 27.4 MnT in similar quarter of previous year- WSA.
-- Silico Manganese prices for 60-14 grade are assessed at INR 66,500/MT Ex-Raipur and INR 66,500 - 67,000/MT Ex-Durgapur.
-- Melting scrap offers in Western India- Gujarat decline by INR 300/MT in a day trade activities.
-- Jharkhand based producers are offering steel grade pig iron at around INR 28,800/MT landed Durgapur.
-- As per Neo Metaliks in Durgapur small deals are taking place for steel grade pig iron at INR 28,700-28,800/MT.
-- Indian Sponge iron export offers slightly fell to USD 325-330/MT as against last week at USD 330/MT; CNF Chittagong, Bangladesh.
-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,700-18,800/MT & Sponge DR CLO grade at INR 20,600-20,800/MT ex-plant.
-- Govindam Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 18,900/MT & fines at INR 19,200/MT ex-plant.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,000/MT & Billet at INR 31,000-31,100/MT ex-plant.
-- East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 31,000-31,200/MT ex-plant as per officials.
-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at INR 18,800/MT, ex-plant & excluding GST.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,000-20,200/MT & Billet at INR 32,000/MT ex-plant.
-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,100/MT & INR 19,500/MT ex-plant, Karnataka; an official reported.
-- As per participants, shortage of HB Wire with the integrated plants in Raipur. Hence trade discounts on the same is less by INR 200-300/MT than prevailing in Wire rod at INR 1,000-1,100/MT. Basic prices for 5.5 mm Wire rod stood at INR 38,200/MT ex-Raipur & INR 36,700-37,500/MT ex-Durgapur.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,200/MT ex-plant & excluding GST.
-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,700/MT ex-plant. (basic & excluding GST).
-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 37,700-37,800/MT ex-plant & excluding GST.
-- 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) has unchanged their offers at INR 37,900/MT.
-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 35,700/MT (down by INR 100/MT).
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) has unaltered their offers at INR 38,500/MT FoR.
-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 37,500/MT.
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their offers at INR 37,200/MT.
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 37,100/MT.
-- Goa based Kamdhenu TMT is offering at INR 39,000/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.