Indian sponge iron, billet & rebar prices drop by INR 100-200/MT today in major locations except in southern region, where it surge in same proportion.
The participants in central & eastern India have mentioned that, inquiries remained limited, hence there was slight fall in price range. However in south India, short supply of raw materials have supported steel prices.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,100-29,400/MT (USD 362-408) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was INR 16 900,at-18,250/MT (USD 235-253); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 14th November 2019 (Thursday) INR to USD exchange rate stood at INR 71.92
— ICEX (Indian Commodity Exchange Ltd) Dec’19 contract for STEELLONG today open at INR 28,500/MT & last traded (IST 18:00 hrs) at INR 28,400/MT.
— BSE Sensex closed at 40,286(+170) on Thursday, as against last day (Wednesday) at 40,116(-229).
— NSE Nifty50 index was closed today at 11,872(+31) & Nifty Metal at 2,506(-50).
RAW MATERIAL
— The state-owned unit- KIOCL has invited a tender for the sale of 100,000 DMT BF grade iron ore pellets in the overseas market and another tender for the sale of 100,000 DMT pellets in the domestic market. The company’s pellet production recorded at 1.115 MnT, up sharply by 21% Y-o-Y as compared to 0.92 MnT in H1 FY19.
— Silicon Manganese(60-14) prices remained firm in Central India at around INR 56,000/MT ex-Raipur.
SEMI FINISHED
— Mesco Steels in Jajpur, Odisha has traded steel grade pig iron at around INR 23,000-23,200/MT ex-plant, as per sources.
— Raipur based sponge P-DRI manufacturers have kept their offers firm at INR 16,900-17,000/MT ex-plant, however no major deals due to healthy deals in the last couple of days & competitive offers from Raigarh at INR 16,900/MT on FoR basis.
— Rashmi Metaliks in Durgapur has slightly lower sponge P-DRI prices at INR 17,300/MT, as per sources.
— South India’s largest private sponge producer – BMM Ispat has raised P-DRI prices by INR 100-200/MT to INR 16,800-16,900/MT ex-Bellary, Karnataka.
— Deals of around 5,000 MT Indian origin sponge iron were reported to Bangladesh this week at around USD 288-290/MT CFR Chittagong.
REBAR (12 mm)
— Rathi Steels based in North region has unchanged their offers at INR 34,000/MT.
— Raipur based Real Ispat (GK TMT) has unchanged their offers at INR 33,000/MT.
— Raigarh based Scan Group branding (Shrishti TMT) has unchanged their offers at INR 31,100/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 31,800/MT.
— Gujarat based Akshar Ispat Ltd. (Akshat TMT) is current offering at INR 32,900/MT FoR.
— J.R. Metal Chennai Ltd. (JR TMT) is current offering at INR 32,500/MT.
WIRE ROD & PIPE
— Trade discounts in Raipur wire rod increased by INR 200/MT to INR 1,500-1,700/MT by traders & around INR 1,000/MT through the manufacturers. However base prices firm in Raipur at INR 31,800/MT ex-Raipur & drop in Durgapur by INR 200/MT to INR 30,800-31,700/MT ex-Durgapur
— ERW Pipe Manufacturers in North, South & Central India have slightly drop their offers and registered at INR 30,800-30,900/MT ex-Raipur, INR 35,500/MT ex-Hydrabad & INR 34,300/MT ex-Mandi Gobindgarh & excluding GST.
Reference prices as on 14th November 2019.
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 21800 | 21700 | 21900 | – 100 | 21700 | 20700 |
| Ex-Chennai | HMS(80:20) | 20300 | 20200 | 20500 | 0 | 20000 | 19200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18250 | 18200 | 18300 | – 100 | 17950 | 17200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16900 | 16800 | 17000 | 0 | 16500 | 16350 | |
| Ex-Raipur | 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 | 18900 | 18800 | 19000 | 0 | 18400 | 17900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17000 | 16900 | 17100 | 0 | 16700 | 16400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17250 | 17200 | 17300 | – 50 | 16900 | 16000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16900 | 16800 | 17000 | – 50 | 16400 | 15850 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16800 | 16700 | 16900 | + 100 | 16400 | 16000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17200 | 17100 | 17300 | 0 | 16800 | 16400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29050 | 29000 | 29100 | – 100 | 28950 | 29400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26900 | 26800 | 27000 | – 50 | 26700 | 26350 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25850 | 25800 | 25900 | – 50 | 25600 | 25900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26350 | 26300 | 26400 | – 100 | 26150 | 26450 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27900 | 27800 | 28000 | 0 | 28200 | 28050 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29400 | 29300 | 29500 | – 100 | 29300 | 29600 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27200 | 27100 | 27300 | – 50 | 27050 | 26700 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26150 | 26100 | 26200 | – 150 | 25850 | 26250 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26600 | 26500 | 26700 | – 150 | 26500 | 26800 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28750 | 28700 | 28800 | – 50 | 28600 | 28050 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28100 | 28000 | 28200 | 0 | 28400 | 28250 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 28100 | 28000 | 28300 | + 200 | 27300 | 27100 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28000 | 27900 | 28100 | 0 | 27500 | 26500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32800 | 32600 | 33000 | 0 | 33200 | 32900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31300 | 31100 | 31500 | – 100 | 31100 | 30800 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30300 | 30200 | 30400 | – 200 | 30500 | 31200 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30200 | 30100 | 30400 | 0 | 30100 | 30300 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31800 | 31500 | 31800 | – 100 | 31900 | 31300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31600 | 31400 | 31800 | 0 | 31800 | 31300 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32000 | 31800 | 32200 | + 200 | 31000 | 31000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31500 | 31300 | 31700 | 0 | 31000 | 30500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31000 | 30800 | 31700 | – 200 | 30800 | 30600 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30800 | 30200 | 31800 | – 100 | 30800 | 31000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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