Indian Billet & Sponge iron prices slightly fluctuated by INR 100-300/MT today amid average spot trades.
However limited demand in finished products have forced mills to reduce prices and as per assessment rebar prices drop by INR 100-300/MT day on day in major markets.
Further, as per manufacturers in central & eastern India, deals are taking place for intra-state only. However for inter-state buyers have postponed their bookings due to logistic concern.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-29,000/MT (USD 362-409) ex-plant.
Meanwhile, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,100-17,000/MT (USD 227-240); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 22nd October 2019 (Tuesday) INR to USD exchange rate stood at INR 70.89.
— ICEX (Indian Commodity Exchange Ltd) Nov’19 contract for STEELLONG today open at INR 27,800/MT & last traded (IST 18:14 hrs) at INR 27,830/MT.
— BSE Sensex closed at 38,963(-334) on Tuesday, as against last day (Friday) at 39,298(+246).
— NSE Nifty50 index was closed today at 11,588(-73) & Nifty Metal at 2,442(-13).
Raw Materials
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 152.25/MT FoB Australia & USD 167.6/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 55.73/MT on FoB basis & USD 70.13/MT CNF India.
Semi Finished
— Raipur & Raigarh based manufacturer’s booked granulated pig iron from Odisha at INR 21,800-22,000/MT ex-plant. Freight cost via road at INR 900-1,000/MT.
— Rashmi Metaliks in Durgapur has raised sponge P-DRI prices by INR 100-200/MT to INR 15,800-15,900/MT, as per sources.
— Mesco Steels in Jajpur, Odisha has lowered steel grade pig iron prices by INR 200/MT to INR 22,800/MT ex-plant.
— Raipur based sponge P-DRI producers have reduces offer by INR 100/MT to INR 15,500-15,700/MT ex-plant, however no major deals learned due to weak billet demand.
— Foundry grade pig iron prices drop this week by INR 200-300/MT and stands at INR 29,200-29,400/MT ex-Delhi, INR 29,400-29,500/MT FoR Ludhiana & INR 32,000/MT FoR Ahmedabad, excluding GST.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 15,400/MT, ex-plant & excluding GST.
— Central India, Raigarh based sponge manufacturer (900 TPD) has offered P-DRI sponge at INR 15,600-15,700/MT FoR Raipur.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,000/MT & Billet at INR 25,500/MT ex-plant; an official reported.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,500/MT & INR 16,900/MT ex-plant, Karnataka.
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offers at INR 33,300/MT.
— Raipur based Real Ispat (GK TMT) has unchanged their offers at INR 32,800/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 30,300/MT.
— Gujarat based Akshar Ispat Ltd. (Akshat TMT) is current offering at INR 32,000/MT FoR.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 31,300/MT.
— South region based Prakash Ferrous Ind. Pvt. Ltd (Tirumala TMT) is current offering at INR 32,000/MT.
Wire Rod & Pipe
— Trade discounts in Raipur Wire rod is hovering at INR 1,300-1,500/MT by re-sellers & INR 800-900/MT through the manufacturers. Meanwhile base prices firm at INR 31,500/MT ex-Raipur & INR 29,800-30,700/MT ex-Durgapur.
— ERW pipe offers in Odisha, east India reported at INR 30,800/MT ex-plant & excluding GST, a Pipe (100 TPD) manufacturer reported. And added trade remains limited.
— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 30,400-30,500/MT ex-plant & excluding GST.
Reference prices as on 22nd October 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,400 | 21,300 | 21,500 | 0 | 21,700 | 21,500 |
| Ex-Mumbai | HMS(80:20) | 20,500 | 20,300 | 20,600 | – 200 | 20,600 | 21,200 | |
| Ex-Chennai | HMS(80:20) | 19,300 | 19,200 | 19,500 | + 100 | 19,200 | 20,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,000 | 16,900 | 17,100 | + 100 | 17,050 | 17,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,100 | 16,100 | 16,300 | – 200 | 16,350 | 16,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | – 100 | 16,900 | 17,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,200 | 16,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,800 | 15,700 | 15,900 | + 100 | 15,700 | 16,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,500 | 15,400 | 15,600 | – 100 | 15,800 | 16,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | 0 | 15,700 | 16,350 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,200 | 16,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,750 | 28,700 | 28,800 | + 50 | 29,150 | 28,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | + 200 | 26,300 | 26,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,300 | 25,200 | 25,400 | – 100 | 25,600 | 25,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,700 | 25,600 | 25,800 | – 150 | 26,100 | 26,250 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,700 | 27,600 | 27,700 | – 200 | 27,700 | 27,600 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 28,950 | 28,900 | 29,000 | + 50 | 29,300 | 29,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,300 | 26,200 | 26,400 | + 200 | 26,650 | 26,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | – 100 | 25,950 | 26,300 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,200 | 26,100 | 26,300 | 0 | 26,600 | 26,550 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,200 | 28,100 | 28,300 | + 350 | 28,650 | 27,600 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,000 | – 200 | 27,950 | 27,800 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | 0 | 27,100 | 27,400 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 26,500 | 26,400 | 26,600 | 0 | 26,000 | 26,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,300 | 32,200 | 32,500 | 0 | 32,600 | 32,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,400 | 30,200 | 30,600 | 0 | 30,500 | 31,000 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,700 | 30,600 | 30,800 | 0 | 30,700 | 31,200 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,900 | 29,800 | 30,000 | – 200 | 30,100 | 30,700 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,200 | – 100 | 31,100 | 31,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,100 | 31,000 | 31,200 | – 300 | 31,000 | 30,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,700 | 31,000 | – 100 | 31,300 | 31,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,900 | 30,100 | 0 | 30,000 | 30,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 29,900 | 29,800 | 30,700 | 0 | 30,300 | 30,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,600 | 30,100 | 31,500 | 0 | 30,600 | 30,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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