Steel trades in Indian domestic market remained limited as spot prices fell by INR 100-500/MT today in recent activities.
As per industry participants, buyers are cautious to take positions owing to festive mood along with volatile market trends since few days.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 29,400-32,800/MT (USD 415-463) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 19,700-20,800/MT (USD 278-294); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 13th January 2020 (Monday) INR to USD exchange rate stood at INR 70.84.
— ICEX (Indian Commodity Exchange Ltd) Feb’20 contract for STEELLONG today open at INR 32,500/MT & last traded (IST 18:18 hrs) at INR 32,420/MT.
— BSE Sensex closed at 41,859(+259) on Monday, as against last day (Friday) at 41,599(+147).
— NSE Nifty50 index was closed today at 12,329(+72) & Nifty Metal at 2,874(+33).
Raw Material
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 152.5/MT FoB Australia & USD 165.25/MT CNF India.
— Melting scrap offers in Western India- Gujarat decline by INR 300/MT in a day trade activities.
Semi Finished
— SAIL has floated export tender for 18,900 MT prime mild steel non-alloy concast blooms from IISCO Steel plant. The last date for bid submission is 16 Jan’20 by 16:00:00 HRS [IST].
— Rashmi Metaliks in Durgapur has further lower Sponge P-DRI offers and reported at INR 19,400-19,500/MT, as per sources.
— Jindal Steel has again reduced steel grade pig iron price by INR 200/MT to INR 29,800-30,000/MT ex-Raigarh, Central India.
— Neo Metaliks in Durgapur has reduced steel grade pig iron price by INR 100/MT to INR 28,200/MT (ex-plant), however buying inquiries learned at near to INR 28,000/MT ex-plant.
— Indian mid scale mills export offers to Nepal slightly correct by USD 2-4/MT to USD 425-427/MT for Billet & USD 485/MT for Wire rod, ex-mill at Durgapur. However, demand remains limited as per participants.
— Raipur based sponge P-DRI makers have slightly decrease their offers to INR 19,800-20,000/MT ex-plant, however no major deals due to competitive offers from at around INR 19,600-19,700/MT on FoR Raipur basis.
— BIOP Steels in South India has decreased sponge prices by INR 200-300/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,700/MT & INR 20,200/MT ex-plant, Karnataka; an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 20,700/MT & Billet at INR 32,700/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,400/MT ex-Bellary & around 1,000 MT deals reported in nearby market.
Rebar (12 mm)
— Vizag Steel has raised finish long steel prices by INR 1,000/MT w.e.f today i.e. 13th Jan’20.
— JSW Steel has increased Rebar by INR 1,000/MT w.e.f today and current price range stands at INR 39,500/MT Ex-Mumbai, size – 12 mm.
— North region Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 34,700/MT
— Raipur based Real Ispat (GK TMT) is current offering at INR 36,500/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 33,700/MT.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 36,700/MT (down by INR 300/MT).
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offer at INR 38,800/MT.
Wire Rod
— Trade discount in Raipur wire rod drop to INR 1,200-1,400/MT through the traders along with fall in base price by INR 7000/MT to INR 35,000/MT ex-plant through the plants. Also, in Durgapur trade reference price drop by INR 200/MT to INR 34,5000-35,200/MT ex-plant.
Reference prices as on 13th January 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 24,000 | 23,900 | 24,100 | – 300 | 23,500 | 22,100 |
| Ex-Mumbai | HMS(80:20) | 22,900 | 22,800 | 23,100 | – 100 | 22,800 | 21,500 | |
| Ex-Chennai | HMS(80:20) | 23,900 | 23,800 | 24,100 | 0 | 23,600 | 21,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | – 100 | 20,100 | 18,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 200 | 19,600 | 16,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | – 200 | 20,700 | 18,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 200 | 19,500 | 16,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | – 50 | 19,200 | 17,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,750 | 19,700 | 19,800 | – 250 | 20,000 | 17,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 100 | 19,400 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 100 | 19,800 | 17,250 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,350 | 32,300 | 32,400 | – 200 | 32,300 | 29,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,900 | 29,800 | 30,000 | – 400 | 29,800 | 26,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 28,900 | 29,100 | – 450 | 29,200 | 25,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 29,400 | 29,300 | 29,500 | – 400 | 29,750 | 26,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,900 | – 300 | 31,800 | 28,200 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 32,750 | 32,700 | 32,800 | – 250 | 32,750 | 29,450 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | – 200 | 30,100 | 27,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 29,500 | 29,400 | 29,600 | – 300 | 29,700 | 26,100 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,900 | 29,800 | 30,000 | – 400 | 30,250 | 26,650 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,400 | 32,300 | 32,500 | – 200 | 32,100 | 29,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | – 400 | 32,100 | 28,450 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,500 | 32,200 | 32,500 | – 100 | 32,700 | 29,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | – 500 | 31,000 | 27,800 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,400 | – 500 | 35,400 | 32,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 34,500 | 34,300 | 34,700 | – 300 | 34,300 | 31,000 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,900 | 33,800 | 34,000 | – 400 | 33,900 | 29,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,900 | 33,800 | 34,000 | – 300 | 34,000 | 29,700 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | – 200 | 36,200 | 31,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,200 | 36,600 | 0 | 35,800 | 32,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,000 | 36,000 | 36,300 | – 100 | 36,100 | 32,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,600 | 34,800 | – 500 | 34,700 | 31,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 34,700 | 34,600 | 35,200 | – 200 | 34,500 | 30,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 34,100 | 33,700 | 35,000 | – 500 | 34,400 | 30,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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