Indian Billet & Rebar prices marginally fluctuated by INR 100-300/MT today on average demand in major markets. Meanwhile sponge iron offers remain amid regular bookings with producers.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,600-29,000/MT (USD 361-409) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,800/MT (USD 232-251); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 10th December 2019 (Tuesday) INR to USD exchange rate stood at INR 70.93.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 29,060/MT & last traded (IST 18:10 hrs) at INR 29,020/MT.
— BSE Sensex closed at 40,239(-247) on Tuesday, as against last day (Monday) at 40,487(+42).
— NSE Nifty50 index was closed today at 11,856(-80) & Nifty Metal at 2,515(-35).
Raw Material
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 275/MT, CNF Nhava Sheva.
— Karnataka based sponge & Pellet manufacturer- BMM Ispat has sold about 10,000 MT pellets in Tamil Nadu & local Bellary market at INR 6,150-6,250/MT (ex-plant)
Semi Finished
— Indian large mill concludes a rake wire rod (size 5.5mm & grade SAE 1008) export deal to Nepal at USD 455-460/MT CPT Raxaul border, Nepal. One rake carry about 2,700 MT wire rod.
— Electrosteels in Bokaro, Jharkhand has traded steel grade pig iron at around INR 23,400-23,500/MT ex-plant.
— Raipur based sponge manufacturers have maintained sponge P-DRI prices firm at INR 16,500-16,600/MT ex-plant & about 2,000-3,000 MT sold, as stated by participants.
— Rashmi Metaliks in Durgapur has kept sponge P-DRI price stable at INR 16,800-16,900/MT, as per sources.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 25,800/MT ex-plant, as per officials.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 25,800/MT ex-plant, an official reported. And sold around 200 MT Billet for Jammu market, an official reported.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered Billet at INR 25,700/MT ex-plant.
— Raigarh based smelters getting offers of 80 FeM C-DRI mix material from Odisha at INR 17,000/MT FoR Raigarh.
— Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 16,600-16,700/MT, ex-plant & excluding GST.
— BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 16,900/MT & INR 17,300/MT ex-plant, Karnataka; an official reported.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 16,800/MT ex-plant, an official reported.
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offers at INR 33,100/MT.
— Raipur based Real Ispat (GK TMT) has unchanged their offers at INR 31,800/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 29,900/MT.
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 29,800-29,900/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 31,300/MT.
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offers at INR 32,500/MT FoR.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod stood at around INR 1,300-1,500/MT through the traders, however base prices remained steady at INR 31,000/MT (ex-plant) by mills. Meanwhile in Durgapur trade reference prices down by INR 100-200/MT to INR 30,600-31,000/MT ex-plant.
— ERW Pipe Manufacturers in North, East & Central India have kept their offers unaltered in a day trade activities. Offers reported at INR 30,500-30,600/MT ex-Raipur, INR 33,800/MT ex-Gobindgarh & INR 30,500/MT ex-Rourkela.
Reference prices as on 10th 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 | 0 | 22,000 | 22,600 |
| Ex-Mumbai | HMS(80:20) | 21,400 | 21,300 | 21,500 | 0 | 21,200 | 22,000 | |
| Ex-Chennai | HMS(80:20) | 21,200 | 21,000 | 21,400 | 0 | 20,700 | 20,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,800 | 17,700 | 17,900 | 0 | 18,150 | 18,350 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,550 | 16,500 | 16,600 | + 50 | 16,600 | 16,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,400 | 17,300 | 17,500 | 0 | 17,600 | 17,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | 0 | 16,800 | 17,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 17,100 | 17,350 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,600 | 17,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,800 | 0 | 16,700 | 16,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | 0 | 17,250 | 17,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,700 | 28,600 | 28,800 | + 100 | 29,000 | 29,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,400 | 26,600 | – 100 | 26,800 | 26,950 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,400 | 25,300 | 25,500 | + 200 | 25,500 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,800 | 25,700 | 25,900 | + 50 | 26,000 | 26,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,800 | 27,700 | 27,900 | – 100 | 28,000 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | + 50 | 29,400 | 29,500 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,800 | 26,700 | 26,900 | 0 | 27,100 | 27,250 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,750 | 25,700 | 25,800 | + 150 | 25,800 | 26,300 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,100 | 26,000 | 26,200 | + 100 | 26,300 | 26,800 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,750 | 28,700 | 28,800 | + 150 | 28,850 | 28,800 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,050 | 28,000 | 28,100 | – 100 | 28,300 | 28,250 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,650 | 28,600 | 28,700 | – 50 | 28,500 | 28,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 28,000 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,000 | 31,800 | 32,200 | + 200 | 32,000 | 32,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,700 | 31,100 | 0 | 31,200 | 31,400 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 29,800 | 29,700 | 29,900 | + 100 | 30,000 | 30,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,400 | 29,300 | 29,500 | 0 | 29,500 | 30,200 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,200 | 0 | 31,200 | 31,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 31,900 | 0 | 31,700 | 31,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,000 | 31,800 | 32,200 | + 100 | 32,100 | 31,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,100 | 0 | 31,500 | 31,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,700 | 30,600 | 31,000 | – 100 | 31,000 | 31,300 |
| Ex-Raipur | Wire Rod(5.5 MM) | 29,800 | 29,400 | 31,000 | 0 | 30,400 | 31,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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