Indian steel prices slightly fluctuate by INR 100-300/MT today amid average spot trades.
As per Semis manufacturers bookings were received on regular basis, hence they are maintaining offers firm levels and currently in wait & watch mode due to uncertain market direction.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,900-29,200/MT (USD 360-407) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,600-18,100/MT (USD 231-252); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 21st November 2019 (Thursday) INR to USD exchange rate stood at INR 71.75.
— ICEX (Indian Commodity Exchange Ltd) Dec’19 contract for STEELLONG today open at INR 28,080/MT & last traded (IST 18:10 hrs) at INR 27,860/MT.
— BSE Sensex closed at 40,575(-76) on Thursday, as against last day (Wednesday) at 40,651(+181).
— NSE Nifty50 index was closed today at 11,968(-30) & Nifty Metal at 2,470(-54).
Raw Material
— KIOCL has concluded pellet export deal for 50,000 MT pellets consisting of Fe 64% content with less than 2% alumina at around USD 98/MT, FoB India- Sources.
— Melting scrap offers in Western India- Gujarat incline by INR 300/MT in a day trade activities.
Semi Finished
— SAIL has schedule a auction to sale of about 7,900 MT basic grade Pig iron on 22nd Nov’19 from its Rourkela Steel Plant (RSP).
— As per officials from Neo Metaliks in Durgapur, steel grade pig iron traded at around INR 24,100/MT ex-plant.
— Indian sponge iron (80 FeM, 100% lumps) export offers hovering at USD 270-275/MT CPT Benapole, equivalent to USD 285-290/MT, CFR Chittagong, Bangladesh. However as per sources no fresh deals as buying at less price by USD 5-10/MT.
— Raipur based Sponge P-DRI producers have maintained Sponge P-DRI offers at INR 16,500-16,600/MT ex-plant & near about 2,000-3,000 MT deals concluded as per participants.
— Odisha based sponge manufacturer sold FeM 80 C-DRI lumps to Jalna (Maharashtra) at around INR 19,000/MT FoR Jalna.
— Rourkela based billet supplier concluded few billet deals for Ghaziabad at around INR 26,000/MT ex-plant. Freight cost via road to Ghaziabad at INR 2,200-2,300/MT.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 17,000/MT, ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,800/MT ex-Bellary, an official reported. And added limited deal of P-DRI concluded for Hyderabad.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,600/MT & INR 17,000/MT ex-plant, Karnataka. And added a deal of around 600 MT sponge C-DRI for Hindupur.
— Apple Industries in Bellary (Karnataka) offered Billet at INR 27,500/MT ex-plant. Majorly deals concluded for Hosur & Bangalore market.
Rebar (12 mm)
— Rathi Steels based in North region is offering at INR 33,500/MT (up by INR 300/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 30,400/MT.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 31,700/MT (up by INR 400/MT).
— Jalna based Rajuri Steel Pvt. Ltd.(Rajuri TMT) is offering at INR 31,300/MT (up by INR 100/MT).
— Gujarat based, Mono Steel (India) Ltd. (Mono TMT) is offering at INR 32,400/MT FoR. (up by INR 200/MT).
Wire Rod & Pipe
— Trade discounts in Raipur wire rod maintained firm and observed at INR 1,100-1,200/MT through the traders & INR 800-900/MT by manufacturers end, although base price was firm at INR 31,000/MT ex-plant. Trade reference price in Durgapur remained unchanged to INR 30,800-31,000/MT ex-plant.
— ERW Pipe Manufacturers in Central & East India have kept their offers at firm level in a day trade activities. Offers reported at INR 30,700/MT ex-Raipur & INR 30,500-30,700/MT ex-Rourkela, excluding GST.
Reference prices as on 21st 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 | + 300 | NA | 21,300 |
| Ex-Mumbai | HMS(80:20) | 21,400 | 21,100 | 21,400 | – 100 | 21,800 | 20,600 | |
| Ex-Chennai | HMS(80:20) | 20,300 | 20,200 | 20,500 | – 100 | 20,300 | 19,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,100 | 18,000 | 18,200 | 0 | 18,250 | 16,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | – 100 | 16,900 | 15,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | 0 | 17,800 | 16,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | + 100 | 17,000 | 16,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,050 | 17,000 | 17,100 | – 50 | 17,250 | 15,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | – 100 | 16,900 | 15,450 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | + 100 | 16,800 | 15,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | + 100 | 17,200 | 16,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,900 | 28,800 | 29,000 | – 100 | 29,000 | 28,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,800 | 26,700 | 26,900 | – 100 | 26,800 | 25,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,600 | 25,500 | 25,700 | – 50 | 25,850 | 25,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | – 100 | 26,300 | 25,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,600 | 27,500 | 27,700 | + 150 | 27,900 | 27,500 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,200 | 29,100 | 29,300 | – 200 | 29,400 | 28,300 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,100 | 27,000 | 27,200 | – 100 | 27,100 | 26,100 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,900 | 25,800 | 26,000 | – 100 | 26,150 | 25,300 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,350 | 26,300 | 26,400 | + 50 | 26,550 | 25,850 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 100 | 28,750 | 28,300 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,850 | 27,800 | 27,900 | + 200 | 28,100 | 27,700 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 27,800 | 27,700 | 28,000 | + 50 | 28,100 | 27,100 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 27,800 | 27,500 | 28,000 | 0 | 28,000 | 26,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,400 | 32,200 | 32,600 | + 300 | 32,800 | 32,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,200 | – 100 | 31,300 | 30,200 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,300 | 30,100 | 30,400 | 0 | 30,300 | 30,400 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,700 | 29,600 | 29,800 | – 100 | 30,200 | 29,600 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,200 | 31,600 | + 300 | 31,800 | 30,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,400 | + 100 | 31,600 | 31,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,700 | 31,500 | 31,900 | + 100 | 32,000 | 30,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,200 | 31,500 | + 300 | 31,500 | 29,900 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,900 | 30,800 | 31,500 | 0 | 31,000 | 29,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,200 | 29,900 | 31,000 | 0 | 30,800 | 30,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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