Indian billet & rebar prices fluctuate by INR 100-300/MT today due to average trade inquiries amid strong supply.
However sponge iron offers remained strong on account of high cost raw materials and as per assessment the prices surge by INR 100-300/MT, day on day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,200-29,800/MT (USD 365-416) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,900-18,400/MT (USD 236-257); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 12th November 2019 (Tuesday) INR to USD exchange rate stood at INR 71.63.
— ICEX (Indian Commodity Exchange Ltd) Dec’19 contract for STEELLONG today open at INR 28,500/MT & last traded (IST 18:19 hrs) at INR 28,480/MT.
Semi Finished
— SAIL’s Bhilai Steel Plant (BSP) is offering about 16,000 MT pig iron at INR 24,000/MT ex-plant, Bhilai, Central India. The offered price attracts trade discount of INR 200-400/MT on bulk bookings, as per sources.
— Mid sized mills export offers to Nepal reported firm at USD 400/MT for Billet & USD 450-455/MT for Wire rod, CPT Raxaul border.
— RINL has invited a tender for export of 23,000 MT Wire Rod and 20,000 MT Billets. Interested bidders can submit their bids till 14:00 hrs on 15 Nov’19.
— Mescosteels in Jajpur, Odisha has further raised pig iron prices by INR 300/MT to INR 23,500/MT ex-plant, for steel grade material.
— Neo Metaliks in Durgapur reported deals for steel grade pig iron after increase in price range by INR 200-300/MT to INR 24,400-24,500/MT ex-plant.
— Rashmi Metaliks in Durgapur has slightly increased Sponge P-DRI price by INR 100/MT to INR 17,400/MT, as per sources.
— Raipur based Sponge P-DRI producers have maintained offers at INR 16,900-17,100/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,600/MT ex-Bellary, an official reported. And added a deal of around 4,000 MT P-DRI concluded for Hyderabad.
— BIOP Steels in South India has increased sponge prices by INR 200-300/MT, offering FeM 80 & 82 C-DRI lumps at INR 17,100/MT & INR 17,500/MT ex-plant, Karnataka; an official reported.
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offers at INR 34,000/MT.
— Raipur based Real Ispat (GK TMT) is current offering at INR 33,000/MT (200+).
— Wardha based Sangam TMT is current offering at INR 31,000/MT.
— Chennai based Ponneri Steel Ind. (Triple Power) is offering at INR 32,000/MT.
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is current offering at INR 32,100/MT.
Wire Rod & Pipe
— ERW Pipe Manufacturers in East & Central India have kept their offers unaltered in a day trade activities. Offers reported at INR 30,900-31,000/MT ex-Raipur & INR 31,000/MT ex-Rourkela.
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 34,200-34,300/MT ex-plant & excluding GST.
— Trade discounts in Raipur wire rod increases and assessed at INR 1,200-1,400/MT through the traders & INR 800-900/MT by manufacturers along with surge in base price by INR 200/MT to INR 31,800/MT ex-plant. However in Durgapur trade reference wire rod prices drop by INR 100/MT to INR 31,200-32,000/MT ex-plant.
Reference prices as on 12th November 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,600 | 22,500 | 22,700 | + 200 | 22,300 | 21,700 |
| Ex-Mumbai | HMS(80:20) | 22,000 | 21,900 | 22,100 | + 100 | 21,400 | 20,600 | |
| Ex-Chennai | HMS(80:20) | 20,200 | 20,000 | 20,300 | + 100 | 19,800 | 19,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,350 | 18,300 | 18,400 | + 50 | 18,000 | 17,050 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | + 100 | 16,500 | 16,350 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,900 | 17,800 | 18,000 | + 100 | 17,300 | 16,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | + 200 | 16,700 | 16,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,350 | 17,300 | 17,400 | + 50 | 16,900 | 15,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | + 200 | 16,300 | 15,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 16,450 | 15,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | + 100 | 16,600 | 16,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,100 | 29,000 | 29,200 | – 300 | 28,900 | 29,150 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,950 | 26,900 | 27,000 | – 50 | 26,800 | 26,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | 0 | 25,900 | 25,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,400 | 26,600 | 0 | 26,150 | 26,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,900 | 28,100 | – 50 | 28,200 | 27,700 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,500 | 29,400 | 29,600 | – 250 | 29,100 | 29,300 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,250 | 27,200 | 27,300 | – 50 | 27,100 | 26,650 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,300 | 26,200 | 26,400 | + 50 | 26,200 | 25,950 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,800 | 26,700 | 26,900 | – 50 | 26,550 | 26,600 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,800 | 28,700 | 28,900 | + 150 | 28,800 | 28,650 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,250 | 28,200 | 28,300 | 0 | 28,350 | 27,950 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,100 | + 100 | 27,400 | 27,100 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,100 | 0 | 27,500 | 26,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,800 | 32,700 | 33,000 | – 200 | 33,300 | 32,600 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,400 | 31,200 | 31,600 | 0 | 31,100 | 30,500 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,300 | 30,700 | – 300 | 30,800 | 30,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,200 | 30,200 | 30,400 | 0 | 30,100 | 30,100 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,900 | 31,800 | 32,100 | + 100 | 31,900 | 31,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 32,000 | 0 | 31,800 | 31,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,700 | 31,500 | 31,900 | + 300 | 31,200 | 31,300 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,700 | 31,500 | 31,900 | + 200 | 31,300 | 30,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,300 | 31,200 | 32,000 | – 100 | 30,800 | 30,300 |
| Ex-Raipur | Wire Rod(5.5 MM) | 31,000 | 30,500 | 31,800 | + 200 | 30,900 | 30,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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