Spot steel prices in Indian domestic market moved down by INR 100-500/MT amid limited trades.
As per daily assessment, the Rebar & Billet prices fall by INR 100-500/MT & Sponge iron by INR 100-200/MT in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 28,600-31,900/MT (USD 401-448) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,500-20,000/MT (USD 259-281); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 4th February 2020 (Tuesday) INR to USD exchange rate stood at INR 71.24.
— ICEX (Indian Commodity Exchange Ltd) Mar’20 contract for STEELLONG today open at INR 31,920/MT & last traded (IST 18:26 hrs) at INR 31,680/MT.
— BSE Sensex closed at 40,789(+917) on Tuesday, as against last day (Monday) at 39,872(+136).
— NSE Nifty50 index was closed today at 11,979(+271) & Nifty Metal at 2,594(+83).
Raw Material
— South African RB2 (5500 NAR) coal offers are assessed at USD 64/MT on FoB basis & USD 78/MT CNF India
— Melting scrap offers in Western India- Gujarat decline by INR 200/MT in a day trade activity.
Semi Finished
— Indian mid scale mills export offers to Nepal drop by USD 5/MT to USD 435/MT for Billet & USD 490-495/MT for wire rod; CPT Nepal.
— Neo Metaliks in Durgapur has reduced steel grade pig iron price by INR 200-300/MT to INR 28,200/MT ex-plant.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 29,800/MT & INR 30,800/MT on FoR basis & excluding 18% GST
— Rashmi Metaliks in Durgapur has offers Sponge P-DRI at around INR 19,000/MT, as per market sources.
— Raipur based mills sourcing Sponge C-DRI (70:30) from Odisha at around INR 19,900/MT FoR Raipur.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,600/MT ex-Bellary, an official reported.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 18,500/MT & INR 18,900/MT ex-plant, Karnataka; an official reported.
Rebar (12 mm)
— Rathi Steels based in North region is offering at INR 36,700/MT (down by INR 300/MT).
— Muzaffarnagar based Shri Jai Balaji Rolling Mills (Century TMT) is current offering at INR 34,300/MT.
— Raipur based Real Ispat (GK TMT) is offering at INR 35,000/MT (down by INR 300/MT).
— Raigarh based Scan Group branding (Shrishti TMT) is current offering at INR 33,500/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 35,700/MT (down by INR 300/MT).
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is offering at INR 36,500/MT FoR. (down by INR 300/MT).
Reference prices as on 4th February 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,400 | 23,300 | 23,500 | – 200 | 23,900 | 23,800 |
| Ex-Mumbai | HMS(80:20) | 22,700 | 22,600 | 22,900 | – 100 | 22,900 | 22,900 | |
| Ex-Chennai | HMS(80:20) | 22,300 | 22,200 | 22,500 | – 100 | 23,100 | 23,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,000 | 19,900 | 20,000 | – 200 | 20,400 | 20,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | – 200 | 19,200 | 19,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | – 100 | 20,100 | 20,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | – 100 | 19,000 | 19,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,000 | 18,900 | 19,100 | – 200 | 19,400 | 19,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,750 | 18,700 | 18,800 | – 50 | 19,150 | 20,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | 0 | 18,700 | 19,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 19,300 | 19,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | – 100 | 32,100 | 32,850 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,300 | 29,200 | 29,400 | – 200 | 29,800 | 30,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,200 | 28,100 | 28,300 | – 100 | 28,500 | 29,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,400 | 28,300 | 28,500 | – 200 | 29,000 | 30,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | – 200 | 31,200 | 32,200 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 31,900 | 31,800 | 32,000 | – 100 | 32,500 | 33,200 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 29,700 | 29,600 | 29,800 | – 300 | 30,300 | 30,500 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | – 100 | 29,000 | 29,800 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,050 | 29,000 | 29,100 | – 150 | 29,550 | 30,600 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 30,900 | 30,800 | 31,000 | – 100 | 32,000 | 32,600 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 30,900 | 30,800 | 31,000 | – 100 | 31,500 | 32,400 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,000 | 30,800 | 31,000 | 0 | 31,700 | 32,700 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | – 500 | 31,000 | 31,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,700 | 35,500 | 35,900 | – 300 | 36,300 | 35,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 33,700 | 33,500 | 33,900 | – 100 | 34,100 | 34,700 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,900 | 33,100 | – 300 | 33,500 | 34,200 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,900 | 33,100 | – 200 | 33,400 | 34,500 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,600 | 36,000 | – 100 | 35,900 | 36,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,100 | 34,900 | 35,300 | – 200 | 36,000 | 36,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,300 | 35,700 | + 100 | 35,700 | 36,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,200 | 34,100 | 34,300 | – 500 | 34,700 | 34,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 33,500 | 33,300 | 33,600 | – 300 | 34,000 | 34,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,400 | 32,300 | 32,500 | – 300 | 33,100 | 34,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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