Indian Sponge iron, Billet & Rebar prices marginally fluctuate by INR 100-200/MT today on average demand in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,900-29,000/MT (USD 361-404) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,600-18,000/MT (USD 231-251); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 22nd November 2019 (Friday) INR to USD exchange rate stood at INR 71.68.
— ICEX (Indian Commodity Exchange Ltd) Dec’19 contract for STEELLONG today open at INR 27,890/MT & last traded (IST 18:20 hrs) at INR 27,840/MT.
— BSE Sensex closed at 40,359(-215) on Friday, as against last day (Thursday) at 40,575(-76).
— NSE Nifty50 index was closed today at 11,914(-54) & Nifty Metal at 2,521(+50).
Key Trades
— India’s one of the largest steel producer – RINL (Vizag Steel) has increased Rebar prices by INR 500/MT w.e.f. 21st Nov’19, as per trade sources.
— SAIL’s Rourkela Steel Plant auction held today (22nd Nov’19) to sell about 7900 MT steel grade pig iron & had received average response. The base price for the auction was quoted by RSP at INR 23,050/MT which is down by INR 450/MT (USD 6) as against previous auction and near about 50% material sold.
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at USD 255-257/MT, CFR Nhava Sheva.
— Melting scrap offers in Western India- Gujarat decline by INR 200/MT in a day trade activities.
— Rashmi Metaliks in Durgapur has slightly lower sponge P-DRI price by INR 100/MT to INR 17,000/MT ex-plant, as per sources.
— Raipur based major sponge manufacturers have kept sponge P-DRI price firm at INR 16,500-16,600/MT ex-plant. However buying interest learned at less price by INR 100-200/MT than the offers.
— Central India, Raigarh based sponge manufacturers has concluded few deal of sponge P-DRI at around INR 16,500/MT FoR Raipur.
— Raigarh based Singhal Steel offered billet at INR 26,300/MT FoR Raipur, officials reported.
— Mesco Steels in Jajpur, Odisha has kept steel grade pig iron prices firm at INR 22,700-22,800/MT ex-plant.
— Shri Hari Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 16,700/MT ex-plant.
— BIOP Steels in South India has increased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,800/MT & INR 17,200/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,800/MT ex-Bellary, an official reported.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 16,800-17,000/MT ex-plant, an official reported.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 34,300/MT ex-plant & excluding GST.
— Trade discounst in Raipur wire rod up by INR 200/MT to INR 1,200-1,400/MT through the traders, however it was firm by manufacturers at INR 800-900/MT along with steady base price at INR 31,000/MT.
Reference prices as on 22nd November 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,200 | 22,100 | 22,300 | – 200 | 22,400 | 21,400 |
| Ex-Mumbai | HMS(80:20) | 21,300 | 21,100 | 21,400 | – 100 | 21,700 | 20,500 | |
| Ex-Chennai | HMS(80:20) | 20,300 | 20,200 | 20,500 | 0 | 20,300 | 19,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,000 | 17,900 | 18,100 | – 100 | 18,100 | 17,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,650 | 16,600 | 16,700 | + 50 | 16,750 | 16,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | 0 | 17,600 | 16,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | + 100 | 16,900 | 16,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,000 | 16,900 | 17,100 | – 50 | 17,050 | 15,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,700 | 15,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | + 100 | 16,600 | 15,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | 0 | 17,150 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,700 | 28,600 | 28,800 | – 200 | 28,650 | 28,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,750 | 26,700 | 26,800 | – 50 | 26,600 | 26,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,550 | 25,500 | 25,600 | – 50 | 25,600 | 25,250 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | 0 | 25,850 | 25,650 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,700 | 27,600 | 27,800 | + 100 | 27,800 | 27,650 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | – 200 | 29,000 | 28,600 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | – 100 | 26,900 | 26,400 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,900 | 25,800 | 26,000 | 0 | 25,950 | 25,500 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,300 | 26,200 | 26,400 | – 50 | 26,150 | 26,200 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,550 | 28,500 | 28,600 | – 50 | 28,650 | 28,450 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,000 | + 150 | 28,000 | 27,850 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 27,800 | 27,700 | 27,900 | 0 | 28,200 | 27,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 27,800 | 27,500 | 28,000 | 0 | 28,000 | 26,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,400 | 32,100 | 32,500 | 0 | 32,800 | 32,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,200 | 0 | 31,000 | 30,300 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,100 | 30,000 | 30,200 | – 200 | 30,200 | 30,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,700 | 29,600 | 29,800 | 0 | 30,000 | 29,700 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,300 | 31,600 | 0 | 31,700 | 30,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,100 | 31,500 | + 100 | 31,600 | 31,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,700 | 32,000 | + 100 | 32,000 | 30,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,200 | 31,500 | 0 | 31,500 | 30,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,800 | 30,700 | 31,500 | – 100 | 30,700 | 29,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,200 | 29,600 | 31,000 | 0 | 30,600 | 30,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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