India’s steel prices increased on improved demand from the local mills amidst short supply. Today, the prices surge near to INR 100-900/MT (upto USD 13).
On day trade activities, the major rise in Billet prices seen in Northern India by INR 900/MT followed by INR 100-600/MT in remaining locations.
In context to Sponge iron & Rebar, prices increased by INR 100-500/MT in major market.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,800-30,500/MT (USD 376-428) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,400-18,800/MT (USD 244-264); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th December 2019 (Friday) INR to USD exchange rate stood at INR 71.19.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 29,350/MT & last traded (IST 18:34 hrs) at INR 29,480/MT.
— BSE Sensex closed at 41,681(+7) on Friday, as against last day (Thursday) at 41,673(+115).
— NSE Nifty50 index was closed today at 12,271(+12) & Nifty Metal at 2,707(+16).
Raw Material
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 280/MT, CNF Nhava Sheva.
— Melting scrap offers in Western India- Jalna (Maharashtra) incline by INR 400/MT in a day trade activities.
— Karnataka based sponge & Pellet manufacturer- BMM Ispat has sold about 10,000 MT pellets in local market at INR 6,200-6,250/MT (ex-plant)
Semi Finished
— Induction grade billet export offers to Nepal further surge and assessed at around USD 380-382/MT ex-mill at Durgapur, equivalent to USD 405-407/MT CPT Nepal.
— As per sources, Neo Metails in Durgapur has raised steel grade pig iron price by INR 200/MT to INR 25,000/MT ex-plant.
— Bokaro based Electro Steels has sold small lots of steel grade pig iron at around INR 24,200/MT ex-plant.
— Raipur based sponge P-DRI manufacturers have raised prices by INR 300-500/MT to INR 18,000/MT ex-plant & about 5,000 MT deals reported.
— Rashmi Metaliks in Durgapur has sligthly increase P-DRI price by INR 200/MT to INR 17,500/MT, as per sources.
— Billet deals learned at INR 27,600/MT FoR Raipur from Raigarh based manufacturers.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,500/MT & Billet at INR 26,700/MT ex-plant; an official reported.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 18,000/MT, ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,200-17,300/MT ex-Bellary & around 1,500 MT deals reported in local market.
— BIOP Steels in South India has offered sponge C-DRI FeM 80 & 82 C-DRI lumps at INR 17,500/MT & INR 17,900/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 17,300-17,500/MT ex-plant, an official reported.
Rebar (12 mm)
— Raipur based Real Ispat (GK TMT) is current offering at INR 33,300/MT (+400/MT).
— Central region (Raipur) based Kamdhenu TMT is current offering at INR 33,200/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 34,200/MT FoR.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 33,000/MT.
— West region based Bhagwati Ferro Metal (P) Ltd is currently offering at INR 32,400/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) is current offering at INR 34,500/MT.
Wire Rod & Pipe
— Trade discount in Raipur wire rod stands at INR 800-1,000/MT, meanwhile base prices up by INR 500/MT to INR 32,400/MT ex-plant. Although slight rise being marked in Durgapur by INR 200/MT to INR 31,300-31,800/MT ex-plant.
— ERW Pipe Manufacturers have increased offers by INR 100-200/MT to INR 31,900/MT ex-Raipur, INR 31,900-32,000/MT ex-Rourkela & INR 34,300/MT ex-Mandi Gobindgarh.
Reference prices as on 20th December 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,400 | 22,300 | 22,500 | + 100 | 21,900 | 22,200 |
| Ex-Mumbai | HMS(80:20) | 21,700 | 21,500 | 21,800 | + 100 | 21,300 | 21,300 | |
| Ex-Chennai | HMS(80:20) | 21,800 | 21,600 | 22,000 | + 100 | 21,500 | 20,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,400 | 18,300 | 18,500 | + 150 | 17,700 | 18,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | + 250 | 16,550 | 16,650 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | + 400 | 17,500 | 17,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,450 | 17,400 | 17,500 | + 50 | 16,800 | 16,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,400 | 17,300 | 17,500 | + 150 | 16,600 | 17,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,000 | 17,900 | 18,100 | + 500 | 16,700 | 16,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,250 | 17,200 | 17,300 | + 50 | 16,700 | 16,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,700 | 17,600 | 17,700 | 0 | 17,200 | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | + 700 | 28,900 | 28,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,100 | 27,000 | 27,200 | + 200 | 26,600 | 26,750 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,400 | 26,300 | 26,500 | + 250 | 25,400 | 25,550 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,250 | 27,200 | 27,300 | + 500 | 25,800 | 26,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29,150 | 29,100 | 29,200 | + 500 | 27,800 | 27,700 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | + 900 | 29,200 | 29,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | + 300 | 26,900 | 27,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,800 | 26,700 | 26,900 | + 350 | 25,800 | 25,900 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 27,650 | 27,600 | 27,700 | + 500 | 26,150 | 26,300 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | + 200 | 28,700 | 28,550 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 29,400 | 29,300 | 29,500 | + 500 | 28,000 | 28,000 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | + 200 | 29,000 | 27,800 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | 0 | 27,500 | 27,800 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,800 | 33,200 | + 100 | 31,500 | 32,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,400 | 31,200 | 31,600 | + 100 | 30,600 | 31,000 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,600 | 30,400 | 30,800 | + 400 | 29,700 | 30,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,600 | 30,500 | 30,800 | + 300 | 29,300 | 29,700 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 32,600 | 32,500 | 32,800 | + 300 | 30,900 | 31,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 32,600 | 32,400 | 32,800 | + 200 | 31,600 | 31,300 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,600 | 33,500 | 33,900 | + 400 | 32,300 | 31,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,000 | 31,800 | 32,200 | 0 | 31,000 | 31,300 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,400 | 31,300 | 31,800 | + 200 | 30,700 | 30,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 31,600 | 31,400 | 32,400 | + 600 | 29,900 | 30,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply