Indian Steel prices remained volatile by INR 100-300/MT on average demand in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,800-29,100/MT (USD 360-407) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,900/MT (USD 231-251); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 27th November 2019 (Wednesday) INR to USD exchange rate stood at INR 71.36.
— ICEX (Indian Commodity Exchange Ltd) Dec’19 contract for STEELLONG today open at INR 27,640/MT & last traded (IST 18:03 hrs) at INR 27,290/MT.
— BSE Sensex closed at 41,020(+199) on Wednesday, as against last day (Tuesday) at 40,821(-67).
— NSE Nifty50 index was closed today at 12,100(+63) & Nifty Metal at 2,602(+22).
Raw Material
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at USD 256/MT, CFR Nhava Sheva.
Semi Finished
— Mesco Steels in Jajpur, Odisha has kept steel grade pig iron prices firm at INR 22,700/MT ex-plant.
— Raipur based a major sponge manufacturer has cuts sponge P-DRI price by INR 100/MT to INR 16,500-600/MT ex-plant.
— Neo Metaliks in Durgapur has further reduced steel grade pig iron price by INR 100/MT to INR 24,000/MT ex-plant. As per officials, inquiries remained limited due to drop in billet prices.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,700-16,800/MT & Billet at INR 25,600-25,700/MT ex-plant; an official reported.
— BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 16,700/MT & INR 17,100/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. And added a deal of around 1,000 MT P-DRI concluded for Hyderabad.
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offer at INR 33,000/MT.
— Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 32,000/MT (down by INR 300/MT).
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 31,000/MT (down by INR 300/MT).
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is current offering at INR 31,300/MT (down by INR 200/MT).
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is current offering at INR 32,400/MT FoR.
Wire Rod & Pipe
— ERW Pipe Manufacturers in North, East & Central India have decreased their offers by INR 100-200/MT in a day trade activities. Offers reported at INR 30,600/MT ex-Raipur, INR 30,400-30,500/MT ex- Rourkela & INR 34,200/MT ex-Mandi Gobindgarh.
— Trade discounts in Raipur wire rod firm at around INR 1,500-1,700/MT through the traders & INR 900-1,100/MT by mills along with steady base price at INR 31,200/MT ex-Raipur & INR 30,700-30,800/MT ex-Durgapur.
Reference prices as on 27th November 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,800 | 21,700 | 21,900 | – 100 | 22,100 | 21,700 |
| Ex-Mumbai | HMS(80:20) | 20,900 | 20,800 | 21,000 | – 100 | 21,500 | 21,000 | |
| Ex-Chennai | HMS(80:20) | 20,300 | 20,100 | 20,500 | 0 | 20,400 | 19,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,900 | 17,800 | 18,000 | – 50 | 18,100 | 17,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,550 | 16,500 | 16,600 | 0 | 16,700 | 16,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | 0 | 17,500 | 16,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 16,600 | 16,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,900 | 16,800 | 17,000 | – 50 | 17,100 | 16,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 16,600 | 15,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | 0 | 16,400 | 16,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | 0 | 16,900 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,950 | 28,900 | 29,000 | + 250 | 29,000 | 28,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,700 | 26,600 | 26,800 | 0 | 26,900 | 26,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,500 | 25,400 | 25,600 | 0 | 25,650 | 25,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,950 | 25,900 | 26,000 | 0 | 26,100 | 25,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,450 | 27,400 | 27,500 | + 50 | 27,450 | 27,850 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,300 | 29,200 | 29,400 | + 250 | 29,400 | 28,300 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,900 | 26,800 | 27,000 | 0 | 27,200 | 26,400 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,750 | 25,700 | 25,800 | – 50 | 26,000 | 25,400 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,250 | 26,200 | 26,300 | 0 | 26,300 | 26,050 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,400 | 28,300 | 28,500 | – 50 | 28,500 | 28,600 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,700 | 27,600 | 27,800 | + 100 | 27,650 | 28,100 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 27,800 | 27,700 | 27,900 | + 100 | 27,750 | 27,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 27,800 | 26,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 32,000 | 0 | 32,100 | 32,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,200 | 0 | 31,100 | 30,400 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,900 | 30,100 | 0 | 30,300 | 30,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,400 | 29,400 | 29,600 | – 200 | 29,800 | 29,800 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,200 | – 100 | 31,200 | 31,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | 0 | 31,100 | 31,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,600 | 31,500 | 31,800 | – 100 | 31,600 | 30,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,100 | 0 | 31,000 | 30,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,800 | 30,700 | 31,500 | – 100 | 30,900 | 29,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,200 | 29,600 | 31,200 | 0 | 30,200 | 30,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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