Indian Billet & Sponge iron prices remain marginally fluctuates by INR 100-200/MT on daily analysis due to subdued demand from rolling mills.
As per participants, demand is not upto the mark, however supply strengthening, this led to rise in inventories with the producers.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,500-36,600/MT (USD 455-512) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,200-23,000/MT (USD 297-322); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th November 2018 (Tuesday) INR to USD exchange rate stood at INR 71.4
— BSE Sensex closed at 35,474 (-300) on Tuesday, as against last day (Monday) at 35,774(+317).
— NSE Nifty50 index was closed today at 10,656(-107)
Raw Materials
— Bhushan Steel’s iron ore sourcing from Rungta mines recorded at 0.12 MnT in Oct’18, up 87% on monthly basis as against 0.06 MnT in Sep’18.
— Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 330/MT, CFR Nhava Sheva, Offers decline by USD 5/MT W-o-W
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 223/MT FoB Australia & USD 236/MT CNF India.
Semi Finished
— Electro Steel based in Bokaro offered steel grade Pig iron at INR 29,000/MT ex-plant.
— Neo Metaliks in Durgapur – West Bengal has kept offers unaltered and are assessed at INR 29,500/MT ex-plant.
— Ludhiana, North India based trade participants reported steel grade pig iron at INR 31,600/MT & & Foundry at INR 34,500-34,600/MT FoR & excluding 18% GST.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 21,000-21,100/MT & Sponge DR CLO grade at INR 23,000-23,200/MT ex-plant
— Rashmi Metaliks in Durgapur has slightly raised sponge prices & reported P-DRI at around INR 22,100/MT.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,800/MT & Billet at INR 32,700/MT ex-plant. As per officials, trade activities are weak at the offer prices.
— BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 21,300/MT & INR 21,800/MT ex-plant, Karnataka; an official reported.
Wire rod & Pipe
— Mandi Gobindgarh, North India based ERW pipe manufacturers decreased prices by INR 100/MT & offers reported at around INR 42,700/MT ex-plant & excluding GST.
— Rashmi Metaliks kept wire rod offers unchanged and today offering at INR 38,800/MT (size 5.5mm, ex-Kharagpur)
— Raipur based wire rod suppliers kept trade discount unaltered and today’s discount at around INR 900-1,000/MT
Rebar (12 mm)
— Raipur based – SPEED TMT unchanged their offering at INR 36,200/MT.
— Gujarat based Shreeyam Power & Steel Industries Ltd (National TMT) offering at INR 38,000/MT FoR, up by INR 300/MT.
— Jalna based Kalika Steel Alloys Pvt Ltd unchanged their offering at INR 37,100/MT.
— Chennai based ARS Steel (Trusteel) unchanged their offering at INR 41,800/MT.
— South region based – VRKP Steel Industry Pvt Ltd – VRKP tmt unchanged their offering at INR 39,500/MT.
Note – The prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
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