Indian steel prices slightly fall by INR 100-200/MT on day trade activities over limited inquiries through the domestic buyers.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-29,300/MT (USD 360-412) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,600-18,200/MT (USD 233-254); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 5th December 2019 (Thursday) INR to USD exchange rate stood at INR 71.24.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 29,290/MT & last traded (IST 18:11 hrs) at INR 29,170/MT.
— BSE Sensex closed at 40,779(-70) on Thursday, as against last day (Wednesday) at 40,850(+174).
— NSE Nifty50 index was closed today at 12,018(-24) & Nifty Metal at 2,543(-60).
Key Trades
— Southern India based pellet maker – KIOCL has concluded two pellet export vessels for 50,000 MT each consisting of Fe 64% content with less than 2% alumina today at around USD 105/MT, FoB India- sources.
— Indian pellet export volumes in Nov’19 recorded at 1.17 MnT, up 33% M-o-M as against 0.89 MnT a month ago.
— India mid sized mills export offers to Nepal remained unaltered at around USD 395-400/MT for Billet & USD 450/MT for Wire rod, CPT Raxaul border, Nepal.
— RINL has invited a tender for export of 20,000 MT Bloom and 20,000 MT Billets. Interested bidders can submit their bids till 14:00 hrs on 10 Dec’19.
— Rashmi Metaliks in Durgapur has kept sponge P-DRI price firm at INR 17,100-17,200/MT, as per sources.
— Billet deals learned at INR 26,300/MT FoR Raipur from Raigarh based manufacturers.
— Steel grade Pig iron offers in Raipur through the traders hovering at INR 24,300-24,400/MT as against last week at INR 24,000-24,100/MT on FoR basis.
— Raipur based sponge manufacturers have maintained sponge P-DRI price firm at INR 16,600-700/MT ex-plant, however no major deals due to competitive offers from Raigarh at INR 16,600/MT on FoR basis.
— Central India – Raipur based Monnet Ispat sold around 250 MT Sponge DR-CLO at INR 18400/MT on ex-plant basis in local market, according to officials.
— Trade discounts in Raipur wire rod slightly up by INR 200/MT to INR 1,500-1,700/MT through the traders. However base prices remained steady at INR 31,200/MT ex-Raipur & INR 30,900-31,000/MT ex-Durgapur.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 26,000/MT ex-plant as per officials.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 26,000/MT ex-plant, an official reported. And sold around 500 MT Billet for Patna (Bihar) market, an official reported. Freight to Patna via road at INR 1,400-1,500/MT.
— Odisha based Billet manufacturer booked 500 MT C-DRI mix materials (FeM 80) from local market at around INR 16,500-16,600/MT ex-plant.
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 30,200/MT.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 16,700/MT, ex-plant & excluding GST.
— BIOP Steels in South India has increased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,900/MT & INR 17,300/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,900/MT ex-Bellary, an official reported. And added a deal of around 4,000 MT P-DRI concluded for local market.
Reference prices as on 5th December 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mandi | End Cutting | 23,100 | 23,000 | 23,200 | – 100 | 23,500 | 23,000 |
| Ex-Alang | HMS(80:20) | 22,000 | 21,900 | 22,100 | + 100 | 22,000 | 22,200 | |
| Ex-Mumbai | HMS(80:20) | 21,400 | 21,200 | 21,500 | + 100 | 21,100 | 21,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,150 | 18,100 | 18,200 | 0 | 18,100 | 17,950 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,600 | 16,500 | 16,800 | 0 | 16,750 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,600 | 17,500 | 17,700 | 0 | 17,600 | 17,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | + 100 | 16,800 | 16,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,100 | 17,000 | 17,200 | 0 | 17,100 | 16,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 16,700 | 16,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 16,700 | 16,400 | |
| 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 | 28,900 | 28,800 | 29,000 | – 100 | 29,200 | 28,950 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,700 | 26,600 | 26,800 | – 50 | 26,850 | 26,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,400 | 25,300 | 25,500 | – 50 | 25,600 | 25,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,950 | 25,900 | 26,000 | – 100 | 26,100 | 26,150 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,900 | 27,800 | 28,000 | – 150 | 27,700 | 28,200 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,300 | 29,200 | 29,400 | – 50 | 29,600 | 29,300 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | 0 | 27,150 | 27,050 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | – 100 | 26,100 | 25,850 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,200 | 26,100 | 26,300 | – 50 | 26,350 | 26,500 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,700 | 28,600 | 28,800 | – 100 | 28,700 | 28,600 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,200 | 28,100 | 28,300 | – 150 | 28,000 | 28,400 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,400 | 28,300 | 28,500 | – 100 | 28,200 | 27,300 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 27,800 | 27,500 | 28,000 | – 200 | 27,800 | 27,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 31,900 | 31,700 | 32,000 | 0 | 32,100 | 33,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | – 100 | 31,100 | 31,100 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,900 | 30,100 | 0 | 30,000 | 30,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,400 | 29,300 | 29,500 | – 100 | 29,700 | 30,100 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | 0 | 31,300 | 31,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,700 | 31,500 | 31,900 | 0 | 31,400 | 31,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,000 | 31,900 | 32,200 | + 100 | 31,700 | 31,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,200 | 31,500 | – 200 | 31,200 | 31,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,000 | 30,900 | 31,300 | 0 | 31,000 | 30,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,100 | 29,600 | 31,200 | – 100 | 30,300 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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