Indian steel prices increased by INR 300-900/MT today amid average spot trades. Following the trend, sponge iron prices surge by INR 400-600/MT on day trade activities.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 28,600-32,500/MT (USD 401-456) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,700-20,100/MT (USD 262-282); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 26th December 2019 (Thursday) INR to USD exchange rate stood at INR 71.27.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 29,660/MT & last traded (IST 18:17 hrs) at INR 30,460/MT.
— BSE Sensex closed at 41,163(-297) on Thursday, as against last day (Tuesday) at 41,461(-181).
— NSE Nifty50 index was closed today at 12,126(-88) & Nifty Metal at 2,739(+15).
Raw Material
— Melting scrap offers in Western India- Gujarat incline by INR 300/MT in a day trade activities.
Semi Finished
— RINL has issued spot sales notice for export of 10,000 MT bloom, 10,000 MT billet & 10,000 MT wire rod coils. The last date for submission requirement is by 17:00 Hrs on 26th Dec’19.
— Neo Metails in Durgapur has sold steel grade pig iron at INR 26,000/MT ex-plant, as per officials.
— Raipur based mills sourcing Sponge C-DRI from Odisha at around INR 20,000/MT FoR Raipur.
— Durgapur based Rashmi Metaliks has raised sponge P-DRI prices by INR 500-600/MT to INR 18,800/MT, as per sources.
— Odisha based manufacturer, Ganesh Metaliks sold around 700 MT Billet in local market at INR 28,800/MT ex-plant, an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,700/MT ex-Bellary, an official reported.
— BIOP Steels in South India has offered sponge C-DRI FeM 80 & 82 C-DRI lumps at INR 19,000/MT & INR 19,500/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 19,500/MT & Billet at INR 31,000/MT ex-plant.
Rebar (12 mm)
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is currently offering at INR 33,500/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is currently offering at INR 36,300/MT FoR.
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is currently offering at INR 35,200/MT.
— Wardha based Sangam TMT is current offering at INR 33,800/MT.
— West region based Bhagwati Ferro Metal (P) Ltd is currently offering at INR 34,500/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) is currently offering at INR 35,000/MT.
Wire Rod & Pipe
— Raipur, Central India based ERW pipe manufacturers have increased offers by INR 100-200/MT to INR 33,700-33,800/MT ex-plant & excluding GST.
— Trade discount in Raipur wire rod stands at INR 800-1,000/MT, meanwhile base prices up by INR 300/MT to INR 34,000/MT ex-plant.
Reference prices as on 26th December 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,500 | 23,400 | 23,600 | + 300 | 22,300 | 22,000 |
| Ex-Mumbai | HMS(80:20) | 22,500 | 22,400 | 22,700 | + 300 | 21,600 | 21,100 | |
| Ex-Chennai | HMS(80:20) | 22,200 | 22,000 | 22,400 | + 100 | 21,700 | 20,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,700 | 19,600 | 19,800 | + 500 | 18,250 | 18,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | + 500 | 17,250 | 16,750 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 400 | 18,400 | 17,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | + 500 | 17,400 | 16,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,700 | 18,600 | 18,800 | + 500 | 17,250 | 17,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,200 | 19,200 | 19,400 | + 400 | 17,500 | 16,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | + 500 | 17,200 | 16,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | + 400 | 17,700 | 17,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | + 600 | 29,300 | 29,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,600 | 28,500 | 28,700 | + 900 | 26,900 | 26,850 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,200 | 28,100 | 28,300 | + 800 | 26,150 | 25,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,800 | 28,700 | 28,900 | + 500 | 26,750 | 26,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,100 | + 300 | 28,650 | 27,700 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 31,550 | 31,500 | 31,600 | + 650 | 29,600 | 29,600 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 29,100 | 29,000 | 29,200 | + 900 | 27,200 | 27,150 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 700 | 26,450 | 26,100 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,300 | 29,200 | 29,400 | + 500 | 27,150 | 26,350 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,450 | 32,400 | 32,500 | + 350 | 29,800 | 28,700 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 31,300 | 31,200 | 31,500 | + 500 | 28,900 | 28,000 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,200 | 31,200 | 31,500 | + 500 | 29,800 | 28,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 30,300 | 30,200 | 30,400 | + 500 | 28,500 | 27,800 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,800 | 33,700 | 34,000 | + 300 | 32,900 | 32,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 32,800 | 32,600 | 33,000 | + 600 | 31,300 | 31,100 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 32,800 | 32,600 | 33,000 | + 600 | 30,200 | 30,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 32,500 | 32,400 | 32,700 | + 500 | 30,300 | 29,700 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,700 | 35,000 | + 600 | 32,300 | 31,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 34,400 | 34,300 | 34,600 | + 400 | 32,400 | 31,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 34,600 | 34,500 | 34,800 | + 400 | 33,200 | 31,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 33,800 | 33,600 | 34,000 | + 600 | 32,000 | 31,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 33,000 | 32,900 | 33,300 | + 800 | 31,200 | 31,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 33,100 | 32,900 | 34,000 | + 200 | 31,000 | 30,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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