India’s steel prices decreased on following reduced demand from the local mills. Today the prices decline near to INR 100-500/MT (upto USD 7).
On daily assessment, the Rebar & Billet prices plunged by INR 100-500/MT & Sponge iron by INR 100-400/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 28,300-31,500/MT (USD 396-442) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-19,700/MT (USD 263-276); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 11th February 2020 (Tuesday) INR to USD exchange rate stood at INR 71.27.
— ICEX (Indian Commodity Exchange Ltd) Mar’20 contract for STEELLONG today open at INR 31,760/MT & last traded (IST 18:08 hrs) at INR 31,640/MT.
— BSE Sensex closed at 41,216(+236) on Tuesday, as against last day (Monday) at 40,979(-162).
— NSE Nifty50 index was closed today at 12,107(+76) & Nifty Metal at 2,651(+22).
Raw Material
— Silicon Manganese (60-14) offers in Raipur through the traders learned at INR 63,500-64,000/MT, however through the manufacturers it stood at INR 64,000-64,500/MT ex-works.
Semi Finished
— Induction grade billet export offers drop further on falling Indian domestic price and fresh deals of about 2,000 MT from Durgapur, eastern India reported at around USD 405/MT ex-mill, equivalent to USD 430/MT CPT Benapole, via road delivery.
— Neo Metaliks has slightly reduced steel grade pig iron offers to INR 27,800-28,000/MT ex-Durgapur.
— Rashmi Metaliks has further reduced Sponge P-DRI offers by INR 300/MT to INR 18,600-18,700/MT ex-plant, as per sources.
— Raipur based manufacturers have roll-over Sponge P-DRI price at INR 18,800/MT ex-plant, however inquiries limited due to competitive offers from Raigarh & Odisha at INR 18,700-18,800/MT on FoR basis.
— Billet deals learned at INR 28,900/MT FoR Raipur from Raigarh based manufacturers.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,800/MT & Billet at INR 28,300-28,400/MT ex-plant; an official reported.
— 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.
— BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 18,700/MT & INR 19,100/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,000-19,100/MT ex-Bellary & no major deals reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 20,000/MT & Billet at INR 30,600/MT ex-plant.
Rebar (12 mm)
— Rathi Steels based in North region is offering at INR 36,500/MT (down by INR 200/MT).
— Muzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 34,000/MT (down by INR 200/MT).
— Raipur based Real Ispat (GK TMT) is current offering at INR 35,100/MT (down by INR 300/MT).
— Raigarh based Scan Group branding (Shrishti TMT) is current offering at INR 33,200/MT (down by INR 200/MT).
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 35,300/MT (down by INR 200/MT).
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offer at INR 36,500/MT FoR.
— Chennai based Ponneri Steel Ind. (Triple Power) is current offering at INR 35,800/MT.
Wire Rod & Pipe
— Traders in Raipur have offered Wire rod at around INR 32,200/MT, however by plants it stood at INR 32,500/MT, ex-works. Also in Durgapur trade reference price drop by INR 300/MT to 32,800-33,200/MT ex-plant.
— ERW Pipe Manufacturers have decreased offers by INR 200-300/MT to INR 33,800-34,000/MT ex-Raipur, INR 36,500/MT ex-Mandi Gobindgarh & INR 34,200/MT ex-Rourkela.
Reference prices as on 11th February 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,200 | 23,100 | 23,300 | – 200 | 23,400 | 24,000 |
| Ex-Mumbai | HMS(80:20) | 22,500 | 22,400 | 22,600 | 0 | 22,700 | 22,900 | |
| Ex-Chennai | HMS(80:20) | 22,000 | 21,800 | 22,200 | 0 | 22,300 | 24,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | – 300 | 20,000 | 20,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,850 | 18,800 | 18,900 | – 50 | 18,900 | 19,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 19,900 | 20,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | – 200 | 18,500 | 19,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,500 | 18,400 | 18,600 | – 400 | 19,000 | 19,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | – 100 | 18,750 | 19,850 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | – 100 | 18,500 | 19,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | 19,000 | 19,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | – 300 | 31,400 | 32,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,800 | 28,700 | 28,900 | – 300 | 29,300 | 30,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,900 | 28,100 | – 200 | 28,200 | 29,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,400 | 28,300 | 28,500 | – 300 | 28,400 | 29,550 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29,900 | 29,800 | 30,000 | – 200 | 30,500 | 31,800 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | – 300 | 31,900 | 32,900 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 29,300 | 29,200 | 29,400 | – 300 | 29,700 | 30,600 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 28,350 | 28,300 | 28,400 | – 250 | 28,600 | 29,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 28,950 | 28,900 | 29,000 | – 250 | 29,050 | 30,050 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 30,400 | 30,300 | 30,500 | – 300 | 30,900 | 32,400 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 30,300 | 30,200 | 30,400 | – 100 | 30,900 | 32,200 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 31,000 | 30,800 | 31,100 | 0 | 31,000 | 32,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | – 500 | 30,500 | 31,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,300 | 35,100 | 35,500 | – 300 | 35,700 | 36,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 33,300 | 33,100 | 33,500 | – 400 | 33,700 | 34,700 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,500 | 33,400 | 33,600 | 0 | 33,000 | 34,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 32,900 | 32,800 | 33,000 | – 200 | 33,000 | 33,800 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 35,100 | 34,900 | 35,300 | – 200 | 35,800 | 36,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 34,500 | 34,300 | 34,700 | – 200 | 35,100 | 36,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,400 | 35,200 | 35,600 | – 100 | 35,500 | 36,100 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,200 | 34,200 | 34,400 | – 500 | 34,200 | 34,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 32,900 | 32,800 | 33,200 | – 300 | 33,500 | 34,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,400 | 32,200 | 32,500 | – 300 | 32,400 | 34,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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