Indian Semi finished (Billet) prices increased slightly although trades activities relatively limited, as per participants. The prices surge by INR 100-400/MT, day on day, in major markets.
In context to Sponge iron & Rebar, prices marginally fluctuated by INR 100-200/MT in major locations on average trade activities.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 28,100-31,600/MT (USD 393-443) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,400-19,400/MT (USD 257-272); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 14th February 2020 (Friday) INR to USD exchange rate stood at INR 71.41.
— ICEX (Indian Commodity Exchange Ltd) Mar’20 contract for STEELLONG today open at INR 32,350/MT & last traded (IST 18:27 hrs) at INR 31,800/MT.
— BSE Sensex closed at 41,257(-202) on Friday, as against last day (Thursday) at 41,459(-106).
— NSE Nifty50 index was closed today at 12,113(-61) & Nifty Metal at 2,613(-38).
Raw Material
— Raipur based manufacturers have offered Silicon Manganese (60-14) at around INR 64,000/MT, however deals by sources reported at near to INR 63,000-63,500/MT ex-plant.
Semi Finished
— SAIL has floated an export tender for 18,900 MT prime mild steel non alloy concast billets (150*150 mm) offered from IISCO Steel plant. The last date for bid submission is 18 Feb’20 by 16:00:00 HRS [IST].
— Induction grade billet (100*100 mm) export offers to Nepal slightly up by USD 2-3/MT to USD 402-404/MT ex-mill at Durgapur, however no fresh deals, as per market sources.
— Rashmi Metaliks has roll-over Sponge P-DRI price at INR 18,500-18,600/MT ex-plant, as per sources.
— Raipur based Sponge P-DRI manufacturers have reported better response as about 4,000 MT deals concluded at INR 18,500-18,600/MT ex-plant.
— Neo Metaliks in Durgapur reported improved inquiries with fresh deals of steel grade pig iron at around INR 27,500/MT ex-plant.
— BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 18,300/MT & INR 18,700/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,600/MT ex-Bellary & no major deals reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 19,400-19,500/MT & Billet at INR 30,200/MT ex-plant.
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offer at INR 36,100/MT.
— Muzaffarnagar based Sarvottam Rolling Mills Pvt. Ltd.(Paras TMT) has unchanged their at INR 34,000/MT.
— Muzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 33,800/MT
— Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 34,900/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 33,000/MT.
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,000/MT.
— Jalna based Kalika Steels Alloys Pvt. Ltd.(Kalika TMT) is current offering at INR 35,000/MT
Wire Rod & Pipe
— Traders in Raipur have raised Wire rod offers by INR 200/MT to INR 32,000/MT, where as plants offer were firm at INR 32,300/MT, ex-works. Also in Durgapur trade reference price firm at INR 32,400-32,800/MT ex-plant.
— ERW Pipe Manufacturers have kept offers at firm level to INR 33,400/MT ex-Raipur, INR 36,200/MT ex-Mandi Gobindgarh & INR 33,700-33,800/MT ex-Rourkela.
Reference prices as on 14th February 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,500 | 23,400 | 23,600 | + 300 | 23,600 | 24,100 |
| Ex-Mumbai | HMS(80:20) | 22,400 | 22,200 | 22,500 | 0 | 22,700 | 23,100 | |
| Ex-Chennai | HMS(80:20) | 21,600 | 21,500 | 21,800 | 0 | 22,100 | NA | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | 0 | 20,000 | 20,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,750 | 18,700 | 18,800 | + 150 | 19,300 | 19,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 50 | 20,100 | 20,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | – 100 | 18,900 | 19,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,400 | 18,300 | 18,500 | 0 | 19,000 | 19,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | + 100 | 19,200 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | 0 | 18,900 | 19,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 19,300 | 19,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | + 300 | 31,700 | 32,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,650 | 28,600 | 28,700 | + 150 | 29,400 | 30,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,900 | 27,800 | 28,000 | + 100 | 28,600 | 29,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,450 | 28,400 | 28,500 | + 150 | 29,000 | 29,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29,700 | 29,600 | 29,800 | 0 | 30,500 | 32,100 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 200 | 32,200 | 32,700 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 29,150 | 29,100 | 29,200 | + 150 | 29,900 | 30,500 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 28,150 | 28,100 | 28,200 | + 150 | 29,000 | 29,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 28,800 | 28,700 | 28,900 | + 100 | 29,500 | 29,900 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 30,700 | 30,600 | 30,800 | + 400 | 31,000 | 32,800 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 30,100 | 30,000 | 30,200 | 0 | 30,900 | 32,400 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,700 | 30,600 | 30,800 | 0 | 31,000 | 32,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | 0 | 31,000 | 31,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,100 | 34,800 | 35,200 | + 100 | 35,800 | 36,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,800 | 33,200 | – 100 | 34,000 | 34,300 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,900 | 33,100 | 0 | 33,500 | 33,900 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 32,700 | 32,600 | 32,800 | + 100 | 33,300 | 33,600 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 34,800 | 34,500 | 34,900 | 0 | 35,800 | 36,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 34,100 | 33,900 | 34,300 | – 200 | 34,900 | 36,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,100 | 34,900 | 35,300 | – 200 | 35,500 | NA | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,400 | 34,300 | 34,500 | + 200 | 35,000 | 34,900 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 32,500 | 32,400 | 32,800 | 0 | 33,600 | 34,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,100 | 31,800 | 32,300 | 0 | 33,000 | 33,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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