Indian induction grade billet prices slightly incline by INR 100-300/MT today amid improved inquiries.
As per producers, spot trades better with increase in price range. Meanwhile, sponge iron & rebar prices marginally fluctuated by INR 100-300/MT D-o-D in major locations.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-28,800/MT (USD 361-405) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,100-16,800/MT (USD 226-236); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 14th October 2019 (Monday) INR to USD exchange rate stood at INR 71.18.
— ICEX (Indian Commodity Exchange Ltd) Nov’19 contract for STEELLONG today open at INR 27,880/MT & last traded (IST 18:16 hrs) at INR 27,980/MT.
— BSE Sensex closed at 38,214(+87) on Monday, as against last day (Friday) at 38,127(+246).
— NSE Nifty50 index was closed today at 11,329(+24) & Nifty Metal at 2,358(+20).
Key Trades
— Jindal Steel & Power has concluded an export deal around 55,000 MT for regular grade pellets (Fe 64%, containing 3% alumina) to China towards the end of last week at around USD 106/MT, CFR China for Nov shipment.
— Rathi Steels based in North region is current offering 12 mm Rebar INR 33,200/MT
— Raipur based a major sponge producer has closed sale after deals of 3,000 MT sponge P-DRI at INR 15,500/MT ex-plant.
— Trade discounts in Raipur Wire rod firm at INR 800/MT by manufacturers and INR 900-1,000/MT through the re-sellers. Meanwhile base prices were firm at INR 31,000/MT ex-Raipur; however it increased by INR 100-200/MT to INR 29,700-30,500/MT ex-Durgapur.
— Raipur based Real Ispat (GK TMT) has unchanged their 12 mm Rebar offers at INR 32,600/MT.
— Jindal Steel is offering Granulated pig iron (panther shots) at INR 22,000-22,200/MT ex-Angul, Odisha.
— Durgapur based Rashmi Metaliks has offered sponge P-DRI at INR 15,500-15,600/MT, as per sources.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered Billet at INR 25,700/MT ex-plant; an official reported. And added trades remain limited.
— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering 12 mm Rebar at INR 31,000/MT (up by INR 200/MT).
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,700/MT ex-Bellary, an official reported.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,200/MT & INR 16,500/MT ex-plant, Karnataka
— Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is currently offering 12 mm Rebar at INR 32,000/MT.
Reference prices as on 14th October 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,600 | 21,500 | 21,700 | – 200 | 21,700 | 21,850 |
| Ex-Mumbai | HMS(80:20) | 20,500 | 20,300 | 20,700 | + 100 | 20,600 | 21,700 | |
| Ex-Chennai | HMS(80:20) | 19,100 | 18,800 | 19,200 | + 100 | 19,200 | 20,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,700 | 16,600 | 16,800 | 0 | NA | 18,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,150 | 16,100 | 16,200 | + 50 | 16,200 | 17,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | – 100 | 17,000 | 17,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | 0 | 16,400 | 16,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,500 | 15,400 | 15,600 | 0 | NA | 17,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,650 | 15,600 | 15,700 | + 50 | 15,700 | 16,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,700 | 15,600 | 15,800 | 0 | 15,900 | 16,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | 0 | 16,500 | 17,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,600 | 28,500 | 28,700 | + 350 | 28,500 | 29,750 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,100 | 26,000 | 26,200 | + 100 | 25,800 | 27,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,350 | 25,300 | 25,400 | + 50 | 25,200 | 26,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,700 | 25,600 | 25,800 | + 100 | 25,600 | 27,200 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,500 | 27,400 | 27,600 | + 200 | 27,400 | 27,400 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 28,800 | 28,700 | 28,900 | + 300 | 28,600 | 29,900 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,400 | 26,300 | 26,500 | + 100 | 26,100 | 28,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | + 50 | 25,600 | 27,000 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,150 | 26,100 | 26,200 | + 100 | 26,100 | 27,750 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,200 | 28,100 | 28,300 | 0 | 27,800 | 28,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,750 | 27,700 | 27,800 | + 250 | 27,600 | 27,600 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 27,100 | 27,000 | 27,200 | + 100 | 27,200 | 28,100 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 26,000 | 25,900 | 26,100 | – 300 | 26,000 | 27,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,200 | 32,100 | 32,400 | + 300 | 31,800 | 32,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,800 | 30,200 | + 100 | NA | 32,100 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,400 | 30,600 | – 100 | 30,500 | 31,400 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,900 | 29,800 | 30,000 | 0 | 30,100 | 31,200 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,800 | 31,100 | + 200 | 30,800 | 31,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,700 | 31,100 | + 200 | 30,700 | 30,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,100 | 31,500 | 0 | 31,400 | 32,300 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,800 | 30,100 | 0 | 29,800 | 31,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 29,800 | 29,600 | 30,500 | + 100 | 29,700 | 31,600 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,200 | 29,900 | 31,000 | 0 | 30,000 | 31,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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