Indian sponge iron & billet prices slightly fluctuated by INR 100-200/MT today amid average spot trades.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,800-29,400/MT (USD 359-411) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,600-18,200/MT (USD 232-252); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 3rd December 2019 (Tuesday) INR to USD exchange rate stood at INR 71.71.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 29,220/MT & last traded (IST 18:32 hrs) at INR 29,230/MT.
— BSE Sensex closed at 40,675(-126) on Tuesday, as against last day (Monday) at 40,802(+8).
— NSE Nifty50 index was closed today at 11,994(-54) & Nifty Metal at 2,564(-68).
Raw Material
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at USD 260/MT, CFR Nhava Sheva.
— Indian pellet maker based in eastern India has concluded pellet export deal for 55,000 MT pellet (F e 64%, 3% Al) to China at around USD 109/MT, CFR.
Semi Finished
— Raipur based a major sponge manufacturer has kept sponge P-DRI price firm at INR 16,600-16,700/MT ex-plant. As per sources, about 3000 MT deals concluded at INR 16,600/M ex-plant.
— Rashmi Metaliks in Durgapur has kept sponge P-DRI price firm at INR 17,100-17,200/MT, as per sources.
— Neo Metaliks in Durgapur has offered steel grade pig iron at around INR 23,900-24,000/MT ex-plant. Demand less than average, as per officials.
— Nepal mills booked around 1,000-2,000 MT Billet & Wire rod from Durgapur based mid sized mills at USD 371-373/MT & USD 423-425/MT (ex-mill), respectively.
— Shri Hari Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 16,800/MT ex-plant.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 16,700/MT, ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,900/MT ex-Bellary, offers incline by INR 200/MT from the last trade; an official reported.
— BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 16,800/MT & INR 17,200/MT ex-plant, Karnataka; an official reported. And added a deal of around 300 MT sponge C-DRI for Nashik market.
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offer at INR 33,300/MT.
— Muzzaffarnagar based Sarvottam Rolling Mills Pvt. Ltd. (Paras TMT) is current offering at INR 30,900/MT.
— Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 32,300/MT.
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 30,100/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their offer at INR 31,200/MT.
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offer at INR 32,700/MT FoR. (up by INR 100/MT).
— Indian Primary Mills hike Finished Long steel prices by INR 500-1,000/MT & Flat steel by INR 1,000-1,200/MT for Dec’19 on account of better domestic & export demand.
Wire Rod & Pipe
— ERW Pipe Manufacturers in North, East & Central India have kept their offers unaltered in a day trade activities. Offers reported at INR 30,700-30,800/MT ex-Raipur, INR 34,300/MT ex-Gobindgarh & INR 30,800-31,000/MT ex-Rourkela.
— Trade discounts in Raipur wire rod reported at INR 1,500-1,700/MT through the traders, meanwhile base prices remained firm by mills at INR 31,500/MT ex-Raipur. Also, in Durgapur trade reference prices stable at around INR 30,900-31,000/MT ex-plant.
Reference prices as on 3rd December 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,000 | 21,900 | 22,100 | 0 | 21,900 | 22,300 |
| Ex-Mumbai | HMS(80:20) | 21,200 | 21,100 | 21,300 | 0 | 21,000 | 21,400 | |
| Ex-Chennai | HMS(80:20) | 20,700 | 20,500 | 20,800 | 0 | 20,300 | 19,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,150 | 18,100 | 18,200 | + 50 | 17,950 | 18,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,600 | 16,500 | 16,800 | – 100 | 16,550 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,600 | 17,500 | 17,700 | – 100 | 17,500 | 17,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 16,800 | 16,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,100 | 17,000 | 17,200 | 0 | 16,950 | 16,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | – 100 | 16,600 | 16,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,900 | 0 | 16,700 | 16,450 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,250 | 17,200 | 17,300 | + 50 | 17,200 | 16,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 28,900 | 29,100 | – 100 | 28,700 | 28,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,800 | 26,700 | 26,900 | – 50 | 26,700 | 26,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,500 | 25,400 | 25,600 | 0 | 25,500 | 25,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | – 50 | 25,950 | 26,150 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,900 | 28,100 | + 100 | 27,400 | 28,200 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,400 | 29,300 | 29,500 | – 100 | 29,050 | 29,100 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,100 | 27,000 | 27,200 | 0 | 26,900 | 27,100 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,800 | 25,700 | 25,900 | – 50 | 25,800 | 26,200 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,300 | 26,200 | 26,400 | 0 | 26,250 | 26,550 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,850 | 28,800 | 28,900 | + 50 | 28,450 | 28,800 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,300 | 28,200 | 28,400 | + 100 | 27,600 | 28,350 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,500 | 28,500 | 28,800 | + 200 | 27,700 | 27,400 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,100 | 0 | 27,500 | 27,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,000 | 31,800 | 32,200 | – 100 | 31,800 | 33,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,400 | 0 | 31,000 | 31,100 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,900 | 30,100 | 0 | 30,000 | 30,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,500 | 29,400 | 29,600 | – 100 | 29,600 | 30,100 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,300 | 0 | 31,100 | 31,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,700 | 31,500 | 31,900 | + 100 | 31,100 | 31,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,100 | 32,000 | 32,300 | + 100 | 31,700 | 31,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,300 | 31,600 | 0 | 31,000 | 31,300 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,000 | 30,900 | 31,500 | 0 | 30,900 | 30,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,400 | 29,800 | 31,500 | – 100 | 30,200 | 30,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply