Indian Steel prices drop in the week opening on the wake of limited spot trades and increased supply. The participants in major markets reported rising stock with the midsized mills due to poor lifting following constant fall in prices.
On daily assessment, the Billet prices slump by INR 100-700/MT with major fall of INR 500-700/MT in West regions.
Meanwhile Sponge iron & Rebar prices being fall by INR 100-400/MT on account of falling Billet prices across regions.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 29,000-32,500/MT (USD 408-458) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 19,300-20,400/MT (USD 271-287); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th January 2020 (Monday) INR to USD exchange rate stood at INR 71.07.
— ICEX (Indian Commodity Exchange Ltd) Feb’20 contract for STEELLONG today open at INR 32,500/MT & last traded (IST 18:05 hrs) at INR 32,220/MT.
— BSE Sensex closed at 41,528(-416) on Monday, as against last day (Friday) at 41,945(+12).
— NSE Nifty50 index was closed today at 12,224(-127) & Nifty Metal at 2,835(-28).
Raw Material
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 152.5/MT FoB Australia & USD 166.3/MT CNF India.
— Melting scrap offers in Western India- Gujarat decline by INR 200/MT in a day trade activity.
Semi Finished
— Neo Metaliks has reported deals for steel grade pig iron price at around INR 28,000/MT ex-Durgapur.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 29,600-29,800/MT & INR 30,700-30,900/MT on FoR basis & excluding 18% GST.
— Jindal Steel has maintained pig iron offers firm and reported steel grade at INR 29,500/MT ex-plant, Raigarh, Central India.
— Raipur P-DRI manufacturers have kept offers firm, however deals learned from Raigarh at around Rs 19,300/t FOR Raipur basis.
— Rashmi Metaliks in Durgapur has offered Sponge P-DRI at INR 19,500/MT, as per sources.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,500/MT & INR 20,000/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 20,400/MT & Billet at INR 32,500/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer increased offers by INR 100-200/MT for FeM 80 P-DRI lumps to INR 19,000-19,100/MT ex-Bellary; an official reported.
Rebar (12 mm)
— Rathi Steels based in North region is offering at INR 36,900/MT (down by INR 400/MT).
— Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 34,700/MT
— Raipur based Real Ispat (GK TMT) is current offering at INR 35,500/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 33,500/MT (down by INR 200/MT).
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,500/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is current offering at INR 36,300/MT
— Jalna based Gajkesari Steels and Alloys Pvt Ltd.(Gajkesari TMT) is current offering at INR 35,500/MT.
Wire Rod
— Trade discount in Raipur wire rod marginal increase to INR 1,200-1,600/MT and base price remain unchanged to INR 34,500/MT ex-plant.
— ERW Pipe Manufacturers have decreased offers by INR 100-300/MT to INR 34,300-34,500/MT ex-Raipur, INR 37,000/MT ex-Mandi Gobindgarh & INR 35,000/MT ex-Rourkela.
Reference prices as on 20th January 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 24,000 | 23,900 | 24,100 | – 200 | 24,000 | 23,000 |
| Ex-Mumbai | HMS(80:20) | 23,100 | 23,000 | 23,300 | – 100 | 22,900 | 21,900 | |
| Ex-Chennai | HMS(80:20) | 23,900 | 23,800 | 24,200 | – 100 | 23,900 | 21,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | – 50 | 20,300 | 19,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 300 | 19,700 | 18,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 100 | 20,800 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | – 100 | 19,700 | 18,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | – 50 | 19,400 | 18,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | – 100 | 19,750 | 18,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 19,000 | 19,100 | – 200 | 19,300 | 18,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 100 | 19,700 | 18,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | – 300 | 32,350 | 30,450 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,600 | 29,500 | 29,700 | – 250 | 29,900 | 27,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,500 | 28,400 | 28,600 | – 500 | 29,000 | 27,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,800 | 28,700 | 28,900 | – 400 | 29,400 | 28,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | – 600 | 31,800 | 29,800 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 32,200 | 32,100 | 32,300 | – 300 | 32,750 | 30,750 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,200 | 30,100 | 30,300 | – 100 | 30,500 | 28,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | – 400 | 29,500 | 27,800 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,300 | 29,200 | 29,400 | – 400 | 29,900 | 28,800 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | – 200 | 32,400 | 31,300 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 31,700 | 31,600 | 31,800 | – 600 | 32,000 | 30,100 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | – 300 | 32,500 | 30,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | – 300 | 31,000 | 29,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,900 | 35,700 | 36,100 | – 200 | 36,200 | 33,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 34,300 | 34,100 | 34,500 | 0 | 34,500 | 31,800 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,500 | 33,400 | 33,600 | – 100 | 33,900 | 31,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,300 | 33,200 | 33,400 | – 300 | 33,900 | 31,500 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,900 | 36,200 | – 300 | 36,500 | 33,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,200 | 36,600 | – 300 | 36,400 | 33,300 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | – 200 | 36,000 | 33,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,600 | 34,800 | – 100 | 34,700 | 33,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 34,100 | 33,900 | 34,400 | – 400 | 34,700 | 32,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 33,300 | 33,000 | 34,500 | – 200 | 34,100 | 32,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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