Indian Semi finished prices increased slightly although trade activities relatively limited, as per participants. The prices surge by INR 100-200/MT, day on day, in major markets.
In context to finished long (Rebar), prices marginally fluctuated by INR 100-400/MT in major locations on average trade activities.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 29,600-32,900/MT (USD 417-464) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 19,700-20,800/MT (USD 277-293); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 14th January 2020 (Tuesday) INR to USD exchange rate stood at INR 70.85.
— ICEX (Indian Commodity Exchange Ltd) Feb’20 contract for STEELLONG today open at INR 32,520/MT & last traded (IST 18:12 hrs) at INR 32,720/MT.
— BSE Sensex closed at 41,952(+92) on Tuesday, as against last day (Monday) at 41,859(+259).
— NSE Nifty50 index was closed today at 12,362(+32) & Nifty Metal at 2,900(+26).
Raw Material
— Odisha based pellet marker concluded an export shipment for standard grade (Fe 64%, 3% Al) pellets at USD 117/MT, CFR China-sources.
Semi Finished
— RINL has issued spot sales notice for ocean export of 30,000 MT bloom. The material offered has specifications – C-0.17-0.23%, Mn – 0.6-1%, Si- 0.15-0.35%, P-0.05%, S – 0.05%. The last date for bid submission is 16 Jan’20.
— Jindal Steel has kept steel grade pig iron price firm at INR 29,800-30,000/MT ex-Raigarh, Central India.
— Neo Metaliks in Durgapur has reduced steel grade pig iron price by INR 100-200/MT to INR 28,000/MT ex-plant.
— Raipur based sponge P-DRI makers have slightly raised their offers to INR 19,900-20,000/MT ex-plant, however no major deals over competitive offers from Raigarh & Odisha at around INR 19,800-19,900/MT on FoR Raipur basis.
— Rashmi Metaliks in Durgapur has increased Sponge P-DRI price by INR 200/MT to INR 19,600-19,700/MT, as per sources.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 20,000/MT & INR 20,500/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,300-19,400/MT ex-Bellary, an official reported.
Rebar (12 mm)
— Rathi Steels based in North region is current offering at INR 36,700/MT.
— Muzzaffarnagar based Sarvottam Rolling Mills Pvt. Ltd.(Paras TMT) is current offering at INR 35,500/MT.
— Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 36,200/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 33,700/MT.
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 34,300-34,400/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 36,500/MT (down by INR 200/MT).
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 36,300/MT (down by INR 400/MT).
Wire Rod
— Trade discount in Raipur wire rod firm at INR 1,200-1,400/MT through the traders amid steady base price at INR 35,000/MT ex-plant through the plants. Also, in Durgapur trade reference prices more or less firm at INR 34,500-35,000/MT ex-plant.
— ERW Pipe Manufacturers have kept offers unchanged to INR 35,000/MT ex-Raipur & INR 37,500/MT ex-Mandi Gobindgarh.
Reference prices as on 14th January 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 22,900 | 22,800 | 23,100 | 0 | 22,900 | 21,500 |
| Ex-Chennai | HMS(80:20) | 24,000 | 23,800 | 24,200 | + 100 | 23,600 | 21,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,400 | 20,300 | 20,500 | + 100 | 20,400 | 18,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | + 100 | 19,700 | 16,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 20,800 | 18,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 19,500 | 17,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | + 100 | 19,500 | 17,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,850 | 19,800 | 19,900 | + 100 | 20,100 | 17,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,400 | 16,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 19,800 | 17,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | + 150 | 32,850 | 29,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,100 | 30,000 | 30,200 | + 200 | 30,100 | 26,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,300 | 29,200 | 29,400 | + 300 | 29,300 | 25,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 29,550 | 29,500 | 29,600 | + 150 | 30,100 | 26,550 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,900 | 0 | 32,200 | 28,400 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 32,900 | 32,800 | 33,000 | + 150 | 33,200 | 29,600 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,600 | 30,500 | 30,700 | + 100 | 30,500 | 27,100 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 29,700 | 29,600 | 29,800 | + 200 | 29,800 | 26,250 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 30,050 | 30,000 | 30,100 | + 150 | 30,600 | 27,050 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 32,200 | 32,100 | 32,300 | + 200 | 32,400 | 28,600 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,700 | 0 | 32,700 | 29,600 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | 0 | 31,500 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,100 | – 200 | 35,600 | 32,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,500 | 34,900 | + 200 | 34,700 | 31,200 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 34,300 | 34,200 | 34,400 | + 400 | 34,200 | 30,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,800 | 33,700 | 33,900 | – 100 | 34,500 | 30,100 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,100 | 36,500 | – 200 | 36,200 | 31,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,200 | 36,600 | 0 | 36,000 | 32,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,100 | 35,900 | 36,300 | + 100 | 36,000 | 33,100 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,600 | 34,800 | 0 | 34,700 | 31,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 34,800 | 34,700 | 35,100 | + 100 | 34,900 | 31,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 34,100 | 33,600 | 35,000 | 0 | 34,600 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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