Indian sponge iron, billet & rebar prices marked slight fluctuation of INR 100-200/MT today on average inquiries.
The participants in central & eastern regions have mentioned that, prices are volatile since few days as the conversion spread (margins) remained less than the required to the mills. Hence the producers are not looking to cut prices even though the demand is not up to the mark.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,600-28,900/MT (USD 361-408) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,700/MT (USD 233-250); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 11th December 2019 (Wednesday) INR to USD exchange rate stood at INR 70.80.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 29,120/MT & last traded (IST 18:38 hrs) at INR 29,020/MT.
— BSE Sensex closed at 40,412(+172) on Wednesday, as against last day (Tuesday) at 40,239(-247).
— NSE Nifty50 index was closed today at 11,910(+53) & Nifty Metal at 2,509(-6).
RAW MATERIALS
— Dispatches of Chrome Ore by Odisha miners have increased by almost 3% in Nov’19 M-o-M. TATA Steel remained the largest miner to dispatch 148,128 MT of Chrome Ore in Nov’19, which was 8% higher as compared to the previous month.
— Karnataka iron ore e-auction sales volume declined by 7% in Nov’19. Total iron ore allotted quantity was recorded at 2.62 MnT in Nov’19 compared to 2.82 MnT in Oct’19.
SEMI FINISHED
— Odisha based manufacturers sold 800-1,000 MT FeM 80 Sponge C-DRI lumps to Jalna (Maharashtra) at around INR 19,100/MT FoR.
— Indian sponge iron export deals concluded to Bangladesh for about 5,000 MT at an average price of USD 270/MT CPT Benapole (dry port of India & Bangladesh), this is equivalent to USD 285/MT CFR Chittagong.
— Raipur based sponge manufacturers have slightly raised sponge P-DRI price by INR 100/MT to INR 16,600-16,700/MT ex-plant, however no major deals reported.
— Rashmi Metaliks in Durgapur has kept sponge P-DRI price firm at around INR 16,800/MT, as per sources.
— BMM Ispat, a renowned sponge manufacturer reduces offer by INR 100-200/MT & reported FeM 80 P-DRI lumps at INR 16,700-16,800/MT ex-Bellary.
— Durgapur based Neo Metaliks has offered steel grade pig iron at INR 23,700-23,800/MT ex-plant and as per officials, no major inquiries.
REBAR (12 mm)
— Rathi Steels based in North region is offering at INR 32,800/MT ( down by INR 300/MT).
— Muzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 30,700/MT
— Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 31,800/MT.
— Bajrangbali Steel Industries Pvt Ltd based in Odisha has offered at INR 29,700/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 31,300/MT.
— Jalna based Gajkesari Steels And Alloys Pvt. Ltd. (Gajkesari TMT) is current offering at INR 30,800/MT.
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offer at INR 32,500/MT FoR.
— South region based Prakash Ferrous Ind. Pvt. Ltd (Tirumala) is current offering at INR 33,000/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) is current offering at INR 32,500/MT.
WIRE ROD & PIPE
— Trade discounts in Raipur wire rod more or less firm at INR 1,400-1,500/MT through the traders amid steady base price at INR 31,000/MT (ex-plant) by mills. Also, in Durgapur trade reference prices unchanged at INR 30,600-31,000/MT ex-plant.
— ERW Pipe prices firm today and assessed at INR 30,500-30,600/MT ex-Raipur & INR 33,800/MT ex-Gobindgarh.
Reference prices as on 11th December 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,900 | 21,800 | 22,000 | 0 | 21,900 | 22,400 |
| Ex-Mumbai | HMS(80:20) | 21,300 | 21,200 | 21,400 | – 100 | 21,300 | 21,900 | |
| Ex-Chennai | HMS(80:20) | 21,400 | 21,000 | 21,500 | + 200 | 20,800 | 20,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,700 | 17,600 | 17,800 | – 100 | 18,150 | 18,350 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | – 50 | 16,600 | 16,900 | |
| Ex-Raipur | 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 | 18,500 | 18,400 | 18,600 | 0 | 18,600 | 18,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | – 100 | 16,800 | 17,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,700 | 16,600 | 16,800 | – 100 | 17,100 | 17,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | + 100 | 16,600 | 16,950 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | – 100 | 16,800 | 16,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | 0 | 17,250 | 17,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,600 | 28,500 | 28,700 | – 100 | 29,000 | 29,150 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,400 | 26,600 | 0 | 26,750 | 26,950 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,300 | 25,200 | 25,400 | – 100 | 25,450 | 25,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,800 | 25,700 | 25,900 | 0 | 26,050 | 26,450 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,700 | 27,600 | 27,800 | – 100 | 28,050 | 27,900 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 28,900 | 28,800 | 29,000 | – 100 | 29,350 | 29,500 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,800 | 26,700 | 26,900 | 0 | 27,000 | 27,250 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,600 | 25,500 | 25,700 | – 150 | 25,800 | 26,300 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,150 | 26,000 | 26,200 | + 50 | 26,250 | 26,750 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,700 | 28,600 | 28,800 | – 50 | 28,800 | 28,800 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,900 | 27,800 | 28,000 | – 150 | 28,350 | 28,100 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,700 | 28,700 | 28,900 | + 50 | 28,500 | 27,900 | |
| Ex- Hyderabad | 100×100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 28,000 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 32,000 | – 200 | 31,900 | 32,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,700 | 31,100 | 0 | 31,200 | 31,400 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 29,700 | 29,600 | 29,800 | – 100 | 30,000 | 30,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,400 | 29,300 | 29,600 | 0 | 29,500 | 30,200 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,100 | 0 | 31,100 | 31,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,600 | 31,400 | 31,800 | – 200 | 31,700 | 31,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,100 | 32,000 | 32,300 | + 100 | 31,900 | 31,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,100 | 0 | 31,500 | 31,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,700 | 30,600 | 31,000 | 0 | 31,000 | 31,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 29800 | 29400 | 31000 | 0 | 30200 | 30900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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