Indian steel prices marginally changed by INR 100/MT today on average trade activities.
The market participants reported, trade activities remained subdued and buyers are waiting for clearer market direction, which is uncertain presently.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,500-28,900/MT (USD 359-408) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,700/MT (USD 232-250); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 12th December 2019 (Thursday) INR to USD exchange rate stood at INR 70.89.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 29,020/MT & last traded (IST 18:03 hrs) at INR 28,940/MT.
— BSE Sensex closed at 40,581(+169) on Thursday, as against last day (Wednesday) at 40,412(+172).
— NSE Nifty50 index was closed today at 11,971(+61) & Nifty Metal at 2,568(+59).
Key Update
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 275/MT, CNF Nhava Sheva.
— Rashmi Metaliks in Durgapur has slightly reduce sponge P-DRI price by INR 100/MT to INR 16,700/MT, as per sources.
— Electrosteels in Bokaro, Jharkhand has kept steel grade pig iron prices firm and small deals reported at around INR 23,400-23,500/MT ex-plant.
— Raipur based sponge manufacturers have maintained sponge P-DRI prices firm at INR 16,600-16,700/MT ex-plant. However trades remained limited, as per participants.
— Central India – Raipur based Monnet Ispat sold around 600-700 MT Sponge DR-CLO at INR 18,400/MT & 300 MT P-DRI at 16,400/MT on ex-plant basis in local market, according to officials.
— Billet deals learned at INR 26,200/MT FoR Raipur from Raigarh based manufacturers.
— Central India, Raigarh based sponge manufacturers has concluded few deals of sponge C-DRI at INR 17,500-17,600/MT FoR Raipur.
— East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 25,700/MT ex-plant as per officials.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,600/MT & Billet at INR 25,500/MT ex-plant; an official reported.
— BIOP Steels in South India has decreased sponge prices by INR 100/MT, 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 16,700-16,800/MT ex-Bellary, an official reported.
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 29,800/MT.
— APL Apollo Tubes Ltd, has increased ERW Pipe price by INR 1,000/MT yesterday to INR 39,500/MT (USD 558); ex-plant in central India, Chhattisgarh.
— 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 30,500/MT ex-Rourkela.
— Trade discounts in Raipur wire rod up by INR 200/MT to INR 1,500-1,700/MT through the traders, however base prices steady at INR 31,000/MT (ex-plant) by mills. Also in Durgapur trade reference prices drop by INR 200/MT to INR 30,400-30,800/MT ex-plant.
Reference prices as on 12th 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 | NA |
| Ex-Mumbai | HMS(80:20) | 21,300 | 21,200 | 21,400 | 0 | 21,400 | 21,800 | |
| Ex-Chennai | HMS(80:20) | 21,400 | 21,000 | 21,500 | 0 | 20,800 | 20,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,700 | 17,600 | 17,800 | 0 | 18,150 | 18,250 |
| 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 | 17,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | – 100 | 16,900 | 17,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,700 | 16,600 | 16,800 | 0 | 17,100 | 17,250 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 16,600 | 16,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,700 | 16,800 | 0 | 16,800 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | 0 | 17,250 | 17,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,600 | 28,500 | 28,700 | 0 | 28,900 | 29,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,400 | 26,600 | 0 | 26,700 | 26,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,200 | 25,100 | 25,300 | – 100 | 25,400 | 25,850 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,750 | 25,700 | 25,800 | – 50 | 25,950 | 26,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,600 | 27,500 | 27,700 | – 100 | 27,900 | 27,900 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 28,900 | 28,800 | 29,000 | 0 | 29,300 | 29,400 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,750 | 26,700 | 26,800 | – 50 | 27,000 | 27,100 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,550 | 25,500 | 25,600 | – 50 | 25,700 | 26,150 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,100 | 26,000 | 26,200 | – 50 | 26,200 | 26,550 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,650 | 28,600 | 28,700 | – 50 | 28,700 | 28,750 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,850 | 27,800 | 27,900 | – 50 | 28,200 | 28,100 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,700 | 28,700 | 28,800 | 0 | 28,400 | 28,100 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 27,800 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 31,700 | 31,500 | 31,900 | – 100 | 31,900 | 32,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,800 | 30,600 | 31,000 | – 100 | 31,100 | 31,300 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 29,700 | 29,600 | 29,800 | 0 | 30,000 | 30,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,300 | 29,200 | 29,400 | – 100 | 29,400 | 30,200 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,800 | 31,100 | – 100 | 31,100 | 31,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,600 | 31,400 | 31,800 | 0 | 31,700 | 31,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,100 | 32,000 | 32,300 | 0 | 32,000 | 32,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,100 | 0 | 31,300 | 31,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,500 | 30,400 | 30,800 | – 200 | 31,000 | 31,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 29,700 | 29,300 | 31,000 | – 100 | 30,100 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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