Indian steel prices plunged further due to poor spot trades, SteelMint learned from trade sources and the prices have dropped by INR 100-500/MT on daily trade activities.
And the prices decline is about INR 100-300/MT in sponge iron & INR 100-400/MT in billet and rebar.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 28,700-32,300/MT (USD 403-454) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-20,200/MT (USD 266-284); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 21st January 2020 (Tuesday) INR to USD exchange rate stood at INR 71.19.
— ICEX (Indian Commodity Exchange Ltd) Feb’20 contract for STEELLONG today open at INR 32,220/MT & last traded (IST 18:28 hrs) at INR 31,970/MT.
— BSE Sensex closed at 41,323(-205) on Tuesday, as against last day (Monday) at 41,528(-416).
— NSE Nifty50 index was closed today at 12,224(-127) & Nifty Metal at 2,835(-28).
Raw Material
— Melting scrap offers in Western India- Gujarat decline by INR 300/MT in a day trade activity.
Semi Finished
— Induction grade billet export offers slightly drop and stands at around USD 417-420/MT ex-Durgapur, equivalent to USD 440-443/MT CPT Nepal.
— Electrosteels in Bokaro, Jharkhand has offered steel grade pig iron at INR 28,000/MT ex-plant.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 29,500/MT & INR 30,700/MT on FoR basis & excluding 18% GST.
— Raipur based mills sourcing Sponge C-DRI from Raigarh at around INR 20,100/MT FoR Raipur.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered Billet at INR 28,800/MT ex-plant.
— Apple Industries in Bellary (Karnataka) offered Billet at INR 31,800-31,900/MT ex-plant.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 19,000/MT ex-plant, an official reported.
— BMM Ispat, a renowned sponge manufacturer decreased offers by INR 100-200/MT for FeM 80 P-DRI lumps to INR 18,900/MT ex-Bellary; an official reported.
Rebar (12 mm)
— Rathi Steels based in North region is offering at INR 36,700/MT (down by INR 200/MT).
— Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 34,400/MT
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 33,200/MT (down by INT 300/MT).
— Jalna based Kalika Steels Alloys Pvt. Ltd.(Kalika TMT) is current offering at INR 35,700/MT.
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is offering at INR 38,100/MT FoR.(down by INR 400/MT).
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,000/MT.
Wire Rod
— Trade discount in Raipur wire rod almost stable at INR 1,200-1,400/MT due to drop in base price by INR 400/MT to INR 34,100/MT ex-plant.
— ERW Pipe Manufacturers have decreased offers by INR 100-400/MT to INR 34,000-34,200/MT ex-Raipur, INR 36,600/MT ex-Mandi Gobindgarh & INR 34,300-34,500/MT ex-Rourkela.
Reference prices as on 21st January 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,700 | 23,600 | 23,800 | – 300 | 24,000 | 23,200 |
| Ex-Mumbai | HMS(80:20) | 22,900 | 22,800 | 23,000 | – 200 | 22,900 | 22,200 | |
| Ex-Chennai | HMS(80:20) | 23,800 | 23,700 | 24,100 | – 100 | 24,000 | 22,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | – 100 | 20,400 | 19,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | – 300 | 19,800 | 18,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | – 300 | 20,800 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | 19,700 | 18,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | 19,500 | 18,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | – 300 | 19,850 | 18,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | – 100 | 19,300 | 18,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 100 | 19,700 | 18,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | – 200 | 32,500 | 30,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,500 | 29,400 | 29,600 | – 100 | 30,100 | 27,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,300 | 28,200 | 28,400 | – 200 | 29,300 | 27,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,600 | 28,500 | 28,700 | – 200 | 29,550 | 28,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 400 | 31,800 | 30,600 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | – 200 | 32,900 | 30,900 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | – 200 | 30,600 | 28,200 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 28,700 | 28,600 | 28,800 | – 300 | 29,700 | 27,900 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | – 300 | 30,050 | 28,800 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,100 | 32,000 | 32,300 | – 400 | 32,400 | 32,100 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 31,300 | 31,200 | 31,400 | – 400 | 32,200 | 30,800 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,300 | 32,200 | 32,400 | – 200 | 32,500 | 30,700 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | 0 | 31,000 | 29,800 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,600 | 35,400 | 35,800 | – 300 | 36,000 | 33,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 33,800 | 33,600 | 34,000 | – 500 | 34,700 | 32,200 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,900 | 33,100 | – 500 | 34,300 | 32,200 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,900 | 33,100 | – 300 | 33,800 | 32,000 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 35,700 | 35,500 | 35,900 | – 300 | 36,300 | 34,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,100 | 35,900 | 36,300 | – 300 | 36,400 | 34,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | 0 | 36,100 | 34,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,600 | 34,800 | 0 | 34,700 | 33,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 34,000 | 33,800 | 34,200 | – 100 | 34,800 | 32,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,900 | 32,600 | 34,100 | – 400 | 34,100 | 32,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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