Indian sponge, billet & rebar prices in secondary market increased sharply by INR 100-400/MT today on improved spot trades following rally in raw material prices.
The sponge iron makers in Raipur reported healthy bookings of P-DRI over 5,000 MT with increase in price range by INR 300-400/MT to INR 17,100-17,200/MT ex-plant.
Similar comments were received from billet manufacturers in central & eastern India, where demand was quite good with surge in price range by INR 100-300/MT.
Inline with this, the private pig iron producers in Durgapur have raised steel grade offers by INR 500/MT to INR 24,300-24,600/MT ex-plant. Further if sources are to be believe, there is good demand in increased offers.
Coming to daily price assessment, SteelMint’s induction furnaces billet price assessment stood at INR 26,000-29,450/MT (USD 366-415). Meanwhile, the coal based sponge (78-80 FeM) C-DRI price range was at INR 16,800-18,000/MT (USD 237-253); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 16th December 2019 (Monday) INR to USD exchange rate stood at INR 70.97
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 28,860/MT & last traded (IST 18:17 hrs) at INR 28,930/MT.
— BSE Sensex closed at 40,938(-71) on Monday, as against last day (Friday) at 41,009(+428).
— NSE Nifty50 index was closed today at 12,053(-32) & Nifty Metal at 2,591(-35).
RAW MATERIAL
— Silicon Manganese prices remained strong and assessed at INR 58,500-59,000/MT ex-Raipur & INR 60,000-61,000/MT ex-Durgpaur.
— Raipur based pellet makers raised prices by INR 300/MT to INR 6,600/MT (ex-plant), following surge in iron ore prices.
— JSW Steel – India’s second largest private steel maker total iron ore sourcing recorded at 1.90 MnT in Nov’19, witnessed 19% drop M-o-M as against 2.33 MnT in Oct’19.
SEMI FINISHED
— Raipur based a major sponge manufacturer has raised sponge price by INR 300/MT and near about 5,000 MT deals reported in local market
— Rashmi Metaliks in Durgapur has slightly increase sponge P-DRI price at INR 17,000/MT, as per sources.
— Indian induction grade billet (100*100mm) export offers to Nepal slightly gain and assessed at around USD 395-398/MT CPT Raxaul border.
— Sponge iron export offers to Nepal from eastern India assessed at USD 243-245/MT loaded to rake. Freight cost to Nepal would be around USD 25/MT CPT Raxaul border.
— Durgapur based Neo Metaliks traded steel grade pig iron at INR 24,500/MT, prices up by INR 500/MT as against last week at INR 24,000/MT ex-plant, as per officials.
— BMM Ispat, a major sponge manufacturer in Bellary, South India has kept prices unchanged and reported FeM 80 P-DRI at INR 16,700-16,800/MT ex-plant.
REBAR (12mm)
— Rathi Steels based in North region is current offering at INR 33,100/MT.
— Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 30,800/MT.
— Raipur based Real Ispat (GK TMT) is current offering at INR 32,100/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 30,100/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 31,500/MT (up by INR 100/MT).
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is offering at INR 32,900/MT FoR (up by INR 200/MT).
WIRE ROD
— Trade discount in Raipur wire rod drop sharply and reported at around INR 1,000/MT by traders & INR 800/MT through the mills, along with surge in base price by INR 200/MT to INR 31,200/MT ex-plant. However in Durgapur trade reference prices were firm at INR 30,800-31,200/MT ex-plant.
Daily Update: Indian Steel Market 16 Dec’19
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,100 | 22,000 | 22,200 | + 100 | 21,900 | 22,100 |
| Ex-Mumbai | HMS(80:20) | 21,500 | 21,400 | 21,600 | 0 | 21,400 | 21,500 | |
| Ex-Chennai | HMS(80:20) | 21,600 | 21,400 | 21,700 | + 100 | 21,200 | 20,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,000 | 17,900 | 18,100 | + 150 | 17,800 | 17,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | + 100 | 16,500 | 16,600 | |
| Ex-Raipur | 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 | 19,000 | 18,900 | 19,100 | + 300 | 18,500 | 18,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | + 100 | 16,900 | 16,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,000 | 16,900 | 17,100 | + 150 | 16,800 | 16,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | + 400 | 16,500 | 16,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | + 50 | 16,800 | 16,550 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,250 | 17,200 | 17,300 | 0 | 17,200 | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,100 | 29,000 | 29,200 | + 200 | 28,600 | 28,350 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,700 | 26,600 | 26,800 | + 50 | 26,600 | 26,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,700 | 25,600 | 25,800 | + 200 | 25,200 | 25,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,300 | 26,200 | 26,400 | + 300 | 25,750 | 25,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,200 | 28,100 | 28,300 | + 150 | 27,900 | 27,250 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,450 | 29,400 | 29,500 | + 250 | 28,950 | 28,800 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | + 100 | 26,800 | 26,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,100 | 26,000 | 26,200 | + 200 | 25,600 | 25,650 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,650 | 26,600 | 26,700 | + 350 | 26,000 | 25,850 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | 0 | 28,600 | 28,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,450 | 28,400 | 28,500 | + 150 | 28,150 | 27,450 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 29,500 | 29,400 | 29,600 | + 300 | 28,700 | 28,000 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 27,800 | 27,700 | 27,900 | 0 | 27,500 | 27,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,000 | 31,800 | 32,200 | + 300 | 31,800 | 32,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,200 | + 200 | 30,900 | 31,000 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 29,800 | 29,700 | 29,900 | 0 | 29,700 | 30,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,700 | 29,500 | 29,800 | + 200 | 29,400 | 29,700 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,100 | 31,500 | + 200 | 31,000 | 31,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 32,100 | 31,900 | 32,300 | + 100 | 31,800 | 31,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,900 | 32,900 | 33,300 | + 300 | 31,900 | 31,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,300 | 0 | 31,000 | 31,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,900 | 30,800 | 31,300 | 0 | 30,800 | 30,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,400 | 30,100 | 31,200 | + 400 | 29,800 | 30,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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