India’s Semi – finished steel prices increased following improved demand from the local mills amid increased raw material offers. Today the prices surge near to INR 100-500/MT (upto USD 7).
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,200-29,800/MT (USD 365-416) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,700-18,300/MT (USD 233-256); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 11th November 2019 (Monday) INR to USD exchange rate stood at INR 71.54.
— ICEX (Indian Commodity Exchange Ltd) Dec’19 contract for STEELLONG today open at INR 28,440/MT & last traded (IST 18:10 hrs) at INR 28,540/MT.
— BSE Sensex closed at 40,345(+21) on Monday, as against last day (Friday) at 40,323(-330).
— NSE Nifty50 index was closed today at 11,912(+4) & Nifty Metal at 2,608(-4).
Raw Materials
— Serajuddin- Odisha’s major merchant iron ore miner has increased iron ore lump 5-18 mm (Fe 63%) offers effect from today (11th Nov’19) by INR 300/MT to INR 3,700/MT (ex-mines, including Royalty, DMF, & NMET).
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 133.75/MT FoB Australia & USD 146.8/MT CNF India.
Semi Finished
— SAIL’s Rourkela Steel Plant auction held today (11th Nov’19) to sell about 4100 MT steel grade pig iron & had received good response. The base price for the auction was quoted by RSP at INR 23,500/MT and around 80% of the material offered got booked at base price.
— Mescosteels in Jajpur, Odisha has slightly raised pig iron prices by INR 200/MT to INR 23,200/MT ex-plant, for steel grade material.
— Rashmi Metaliks in Durgapur has further raised Sponge P-DRI price by INR 300/MT to INR 17,300/MT, as per sources.
— Raipur based Sponge P-DRI producers have raised P-DRI offers by INR 300-400/MT to INR 16,800-17,000/MT ex-plant. However the deals learend at near to INR 16,800/MT ex-plant due to competitive cost Raigarh P-DRI at INR 17,000/MT on FoR basis.
— Mid sized mills export offers to Nepal surged & reported at USD 400/MT for Billet & USD 450-455/MT for Wire rod, CPT Raxaul border.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,600/MT & Billet at INR 26,200/MT ex-plant; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,700/MT ex-Bellary, an official reported. And added a deal of around 3,000 MT P-DRI concluded for Hyderabad.
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offers at INR 34,000/MT.
— Raipur based Real Ispat (GK TMT) has unchanged their offers at INR 32,800/MT.
— Central region (Raipur) based Kamdhenu TMT is current offering at INR 32,600/MT.
— Raigarh based Scan Group branding(Shrishti TMT) has unchanged their offer at INR 30,800/MT.
— Jalna based Rajuri Steel Pvt. Ltd.(Rajuri TMT) has unchanged their offers at INR 32,100/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 32,000/MT.
Wire Rod & Pipe
— ERW Pipe Manufacturers in North & Central India have increased their offers by INR 300-400/MT in a day trade activities. Offers reported at INR 30,900-31,000/MT ex-Raipur & INR 33,900-34,000/MT ex-Mandi Gobindgarh.
— Trade discounts in Raipur wire rod drop sharply and assessed at INR 1,000-1,100/MT through the traders & INR 700-900/MT by manufacturers, however base prices steady at INR 31,600/MT ex-plant. Further in Durgapur trade reference wire rod prices up by INR 600/MT to INR 31,200-32,000/MT ex-plant.
Reference prices as on 11th November 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,400 | 22,300 | 22,500 | + 200 | 22,000 | 21,600 |
| Ex-Mumbai | HMS(80:20) | 21,900 | 21,800 | 22,000 | + 100 | 21,400 | 20,500 | |
| Ex-Chennai | HMS(80:20) | 20,100 | 19,900 | 20,300 | 0 | 19,800 | 19,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,300 | 18,200 | 18,400 | + 300 | 17,600 | 16,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | + 300 | 16,400 | 16,150 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,800 | 17,700 | 17,900 | + 400 | 17,000 | 16,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | + 100 | 16,500 | 16,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,300 | 17,200 | 17,400 | + 300 | 16,600 | 15,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | + 300 | 16,000 | 15,650 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | + 100 | 16,250 | 15,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | + 200 | 16,500 | 16,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,400 | 29,300 | 29,500 | + 400 | 28,950 | 28,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,900 | 27,100 | + 300 | 26,600 | 26,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | + 400 | 25,600 | 25,350 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,400 | 26,600 | + 400 | 26,100 | 25,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,050 | 28,000 | 28,100 | + 100 | 28,100 | 27,500 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,750 | 29,700 | 29,800 | + 350 | 29,200 | 28,800 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,300 | 27,200 | 27,400 | + 300 | 26,900 | 26,400 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,250 | 26,200 | 26,300 | + 350 | 25,900 | 25,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,850 | 26,800 | 26,900 | + 400 | 26,600 | 26,150 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,650 | 28,600 | 28,700 | + 250 | 28,650 | 28,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,250 | 28,200 | 28,300 | + 50 | 28,300 | 27,750 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 27,900 | 27,800 | 28,000 | + 300 | 27,500 | 27,100 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,100 | + 500 | 27,500 | 26,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,800 | 33,200 | + 100 | 33,000 | 32,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,400 | 31,200 | 31,600 | + 300 | 30,700 | 30,000 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,800 | 30,700 | 30,900 | + 300 | 30,600 | 30,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,200 | 30,200 | 30,400 | + 200 | 30,000 | 29,900 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 31,900 | 0 | 31,300 | 30,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 32,000 | 0 | 31,800 | 30,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,400 | 31,200 | 31,600 | + 200 | 31,200 | 31,300 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,400 | 31,600 | + 500 | 30,800 | 30,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,400 | 31,200 | 32,000 | + 600 | 30,400 | 29,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,800 | 30,600 | 31,600 | + 100 | 30,800 | 30,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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