Indian sponge iron, billet & rebar prices remained range bound with slight fluctuations of INR 100/MT, however spot trades remained average, as per participants.
Further they mentioned that, there is no major selling pressure among producers due to healthy bookings in hand, hence there is slight change in offers in a daily trade activities.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,300-29,500/MT (USD 365-410) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,900-17,900/MT (USD 235-248); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 13th November 2019 (Wednesday) INR to USD exchange rate stood at INR 72.06
— ICEX (Indian Commodity Exchange Ltd) Dec’19 contract for STEELLONG today open at INR 28,460/MT & last traded (IST 18:00 hrs) at INR 28,500/MT.
— BSE Sensex closed at 40,116(-229) on Wednesday, as against last day (Monday) at 40,345(+21).
— NSE Nifty50 index was closed today at 11,840(-73) & Nifty Metal at 2,556(-53).
RAW MATERIAL
— As per officials, Karnataka based sponge manufacturer- BMM Ispat has sold about 5,000 MT pellets in Tamil Nadu market at INR 6,300/MT on ex-plant basis.
— Silicon Manganese(60-14) prices remained firm in Central India & assessed at around INR 56,000/MT ex-Raipur.
SEMI FINISHED
— Electrosteel in Bokaro, Jharkhand has sold steel grade pig iron at around INR 24,000/MT ex-plant, prices up by INR 200-300/MT day-on-day.
— Mescosteels in Jajpur, Odisha has offered steel grade pig iron at INR 23,500/MT ex-plant. Similarly prices being firm by Durgapur based Neo Metaliks at INR 24,500/MT ex-plant.
— Raipur based sponge P-DRI manufacturers have offered at INR 16,900-17,000/MT ex-plant, in which near to 4,000-5,000 MT deals reported.
— Rashmi Metaliks in Durgapur has kept sponge P-DRI prices firm at INR 17,400/MT, as per sources.
— Mid sized mills export offers to Nepal more or less firm and hovering at USD 395-400/MT for Billet & USD 450-455/MT for Wire rod, CPT Raxaul border, Nepal
— Odisha based sponge manufacturer sold FeM 80 C-DRI lumps to Jalna (Maharashtra) at INR 19,400-19,500/MT FoR Jalna.
— Southern India, Bellary based Aone Steel has concluded 1,000 MT Sponge C-DRI deal for Maharashtra & Chennai region at around INR 17,000/MT ex-plant, officials reported
— BMM Ispat, a renowned sponge manufacturer increased offers by INR 300/MT for FeM 80 P-DRI lumps to INR 16,900-17,000/MT ex-Bellary; an official reported.
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 33,000/MT.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 32,100/MT.
— Gujarat based, Mono Steel (India) Ltd. (Mono TMT) is current offering at INR 32,600/MT FoR.
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is current offering at INR 32,000/MT.
WIRE ROD & PIPE
— Trade discounts in Raipur wire rod slightly up by INR 100/MT to INR 1,300-1,500/MT by traders & INR 800-900/MT through the manufacturers. However base prices being more or less firm at INR 31,800/MT ex-Raipur & INR 31,100-31,200/MT ex-Durgapur
— ERW Pipe Manufacturers in North, East & Central India have kept their offers at firm level in a day trade activities. Offers reported at INR 30,800-31,000/MT ex-Raipur, INR 31,000/MT ex-Rourkela & INR 34,200-34,300/MT ex-Mandi Gobindgarh & excluding GST.
Reference prices as on 13th 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 | 22,100 | 21,900 |
| Ex-Mumbai | HMS(80:20) | 21,900 | 21,800 | 22,000 | – 100 | 21,500 | 20,700 | |
| Ex-Chennai | HMS(80:20) | 20,300 | 20,100 | 20,400 | + 100 | 19,900 | 19,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,350 | 18,300 | 18,400 | 0 | 18,000 | 17,050 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | 0 | 16,500 | 16,300 | |
| Ex-Raipur | 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 | 18,900 | 18,800 | 19,000 | 0 | 18,400 | 17,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | 0 | 16,700 | 16,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,300 | 17,200 | 17,400 | – 50 | 17,000 | 15,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,950 | 16,900 | 17,000 | – 50 | 16,400 | 15,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | + 100 | 16,500 | 15,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | + 100 | 16,800 | 16,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,150 | 29,100 | 29,200 | + 50 | 28,900 | 29,150 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,950 | 26,900 | 27,000 | 0 | 26,700 | 26,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | – 100 | 25,700 | 25,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,450 | 26,400 | 26,500 | – 50 | 26,150 | 26,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,900 | 27,800 | 28,000 | – 100 | 28,250 | 28,050 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,500 | 29,400 | 29,600 | 0 | 29,100 | 29,300 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,250 | 27,200 | 27,300 | 0 | 27,000 | 26,600 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,300 | 26,200 | 26,400 | 0 | 26,000 | 25,900 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,750 | 26,700 | 26,800 | – 50 | 26,550 | 26,600 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,800 | 28,700 | 28,900 | 0 | 28,700 | 28,450 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,100 | 28,000 | 28,200 | – 150 | 28,500 | 28,250 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 27,900 | 27,800 | 28,000 | – 100 | 27,400 | 27,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,100 | 0 | 27,500 | 26,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,800 | 32,700 | 33,000 | 0 | 33,300 | 32,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,400 | 31,200 | 31,600 | 0 | 31,200 | 30,500 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,300 | 30,700 | 0 | 30,700 | 30,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,200 | 30,100 | 30,400 | 0 | 30,100 | 30,100 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,900 | 31,800 | 32,100 | 0 | 32,000 | 31,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,600 | 31,400 | 31,800 | – 200 | 31,800 | 31,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 32,000 | + 100 | 31,000 | 31,100 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,300 | 31,700 | – 200 | 31,100 | 30,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,200 | 31,100 | 31,800 | – 100 | 30,900 | 30,300 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,900 | 30,400 | 31,800 | – 100 | 30,900 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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