Indian steel prices marginally changed by INR 100-200/MT today on average trade activities.
Central India based trade participants reported offers remain at firm level, however regular bookings received.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,800-29,400/MT (USD 360-411) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,600-18,200/MT (USD 232-254); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 4th December 2019 (Wednesday) INR to USD exchange rate stood at INR 71.55.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 29,200/MT & last traded (IST 18:34 hrs) at INR 29,240/MT.
— BSE Sensex closed at 40,850(+174) on Wednesday, as against last day (Tuesday) at 40,675(-126).
— NSE Nifty50 index was closed today at 12,037(+43) & Nifty Metal at 2,602(+38).
Raw Material
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 270/MT, CNF Nhava Sheva.
— TATA Steel has offered 4500 MT of Chrome Concentrate through MMTC tenders for export. The last date of submission of bids is 12:00 hrs IST on 06th December 2019
Semi Finished
— India mid sized mills export offers to Nepal reported at around USD 395-400/MT for Billet & USD 450/MT for WIRE ROD, CPT Raxaul border, Nepal.
— Rashmi Metaliks in Durgapur has remain unchanged their sponge P-DRI price at INR 17,100-17,200/MT, as per sources.
— Neo Metails in Durgapur has offered steel grade pig iron at around INR 23,900-24,000/MT ex-plant.
— Raipur based sponge manufacturers have kept sponge P-DRI price firm at INR 16,600-16,700/MT ex-plant & about 1,000-2,000 MT deals reported in local market.
— Central India, Raigarh based sponge manufacturer has offered C-DRI sponge at INR 17,700/MT FoR Raipur.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,700/MT & Billet at INR 25,700/MT ex-plant; an official reported.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 16,600-16,700/MT, ex-plant & excluding GST.
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 16,900-17,000/MT ex-Bellary, Karnataka.
Rebar (12 mm)
— Rathi Steels based in North region is offering at INR 33,100/MT (down by INR 200/MT).
— Muzzaffarnagar based Sarvottam Rolling Mills Pvt. Ltd. (Paras TMT) is current offering at INR 30,800/MT.
— Raipur based Real Ispat (GK TMT) is offering at INR 32,100/MT (down by INR 200/MT).
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is current offering at INR 31,500/MT.
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offer at INR 32,700/MT FoR.
— South region Chennai based Suryadev Alloys and Power Limited(Suryadev TMT) is current offering at INR 33,000/MT.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod slightly drop to INR 1,300-1,500/MT through the traders, also base prices reduced by INR 300/MT to INR 31,200/MT ex-plant. However, in Durgapur trade reference prices remain stable at around INR 30,900-30,900/MT ex-plant.
— ERW Pipe offers unchanged & reported at INR 30,700-30,800/MT ex-Raipur, INR 34,300/MT ex-Gobindgarh & INR 30,800-31,000/MT ex-Rourkela.
Reference prices as on 4th December 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,900 | 21,800 | 22,000 | – 100 | 21,800 | 22,100 |
| Ex-Mumbai | HMS(80:20) | 21,300 | 21,200 | 21,400 | + 100 | 20,900 | 21,500 | |
| Ex-Chennai | HMS(80:20) | 20,800 | 20,600 | 21,000 | + 100 | 20,300 | 19,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,150 | 18,100 | 18,200 | 0 | 17,900 | 18,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,600 | 16,500 | 16,800 | 0 | 16,550 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,600 | 17,500 | 17,700 | 0 | 17,500 | 17,400 | |
| 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 | 16,900 | 17,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 16,600 | 16,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | + 100 | 16,700 | 16,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,250 | 17,200 | 17,300 | 0 | 17,200 | 16,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 28,900 | 29,100 | 0 | 28,950 | 28,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,750 | 26,700 | 26,800 | – 50 | 26,700 | 26,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,450 | 25,400 | 25,500 | – 50 | 25,500 | 25,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,050 | 26,000 | 26,100 | + 50 | 25,950 | 26,150 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,050 | 28,000 | 28,100 | + 50 | 27,450 | 28,250 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,350 | 29,300 | 29,400 | – 50 | 29,300 | 29,100 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | – 100 | 26,900 | 27,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,800 | 25,700 | 25,900 | 0 | 25,750 | 26,000 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,250 | 26,200 | 26,300 | – 50 | 26,250 | 26,550 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,800 | 28,700 | 28,900 | – 50 | 28,400 | 28,700 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,350 | 28,300 | 28,400 | + 50 | 27,700 | 28,500 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | 0 | 27,800 | 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 | 31,900 | 31,700 | 32,000 | – 100 | 31,800 | 33,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,400 | 0 | 31,000 | 31,200 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,900 | 30,100 | 0 | 30,000 | 30,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,500 | 29,300 | 29,600 | 0 | 29,400 | 30,100 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | – 100 | 31,000 | 32,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,700 | 31,500 | 31,900 | 0 | 31,100 | 31,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,900 | 31,700 | 32,100 | – 200 | 31,600 | 31,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,400 | 31,600 | 0 | 31,000 | 31,100 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,000 | 30,900 | 31,300 | 0 | 30,800 | 30,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,200 | 29,800 | 31,200 | – 200 | 30,200 | 30,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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