Indian Sponge iron & Billet offers decline by INR 100-400/MT today, in major markets except in Maharashtra, western India where prices incline by INR 100-200/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 29,300-32,700/MT (USD 412-461) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 19,700-20,600/MT (USD 277-290); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 16th January 2020 (Thursday) INR to USD exchange rate stood at INR 70.91.
— ICEX (Indian Commodity Exchange Ltd) Feb’20 contract for STEELLONG today open at INR 32,600/MT & last traded (IST 18:34 hrs) at INR 32,480/MT.
— BSE Sensex closed at 41,932(+59) on Thursday, as against last day (Wednesday) at 41,872(-79).
— NSE Nifty50 index was closed today at 12,355(+12) & Nifty Metal at 2,884(-36).
Raw Material
— Supreme Court allows Sarda mines to resume iron ore production on payment of their dues in one month. Company has an EC limit of 4 MnT.
— Supreme Court allows MESCO to sell 2.3 MnT iron ore inventory lying at mines head through OMC. Mesco mines is closed since Dec’17.
— JSW Steel total iron ore sourcing recorded at 2.7 MnT in Dec’19, witnessed 43% rise M-o-M as against 1.9 MnT in Nov’19.
Semi Finished
— Vizag Steel concludes 30,000 MT Bloom (150*150 mm, C-0.17-0.23%, Mn- 0.6-1%, Si- 0.1-0.35%, P-0.05% max and S- 0.05% max.) ocean export tender at USD 420-425/MT, FoB India. The tender was due on 10 Jan’20).
— Induction grade billet export offers slightly drop and stands at around USD 420-423/MT ex-Durgapur, equivalent to USD 445-450/MT CPT Nepal (via road movement).
— Jindal Steel has reduced steel grade pig iron price by INR 300/MT to INR 29,500/MT ex-plant, Raigarh, Central India.
— Neo Metaliks has kept steel grade pig iron price firm at INR 28,000/MT ex-Durgapur, however no major inquiries as per officials.
— Raipur based sponge P-DRI manufacturers have reduced prices by INR 100-200/MT and about 2,000-3,000 MT deals reported at INR 19,600/MT ex-plant & FoR basis.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 20,100/MT & Sponge mix material (60:40) at INR 19,800/MT ex-plant.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 19,700-19,800/MT, ex-plant & excluding GST.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 19,400/MT ex-plant, an official reported.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 20,400/MT & Billet at INR 32,500/MT ex-plant.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,700/MT & INR 20,200/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,200-19,300/MT ex-Bellary, an official reported.
Rebar (12 mm)
— Rathi Steels based in North region is current offering at INR 37,700/MT.
— Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 34,900/MT (down by INR 100/MT).
— Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 36,200/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 36,700/MT (up by INR 200/MT).
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offer at INR 38,900/MT FoR.
Wire Rod
— Trade discount in Raipur wire rod stable at INR 1,200-1,400/MT due to drop in base price by INR 200/MT to INR 34,800/MT ex-plant. Also, in Durgapur trade reference price fall by INR 100/MT to INR 34,400-35,000/MT ex-plant.
— ERW Pipe Manufacturers have kept offers unchanged to INR 35,000/MT ex-Raipur, INR 35,300/MT ex-Rourkela & INR 37,200-37,300/MT ex-Mandi Gobindgarh.
Reference prices as on 16th January 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 24,100 | 24,000 | 24,200 | – 100 | 24,300 | 22,300 |
| Ex-Mumbai | HMS(80:20) | 23,000 | 22,900 | 23,200 | 0 | 23,100 | 21,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,300 | 20,200 | 20,400 | – 100 | 20,700 | 18,250 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,550 | 19,500 | 19,600 | – 150 | 20,300 | 17,250 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 21,400 | 18,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 100 | 19,800 | 17,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | – 100 | 19,800 | 17,250 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 100 | 20,600 | 17,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,250 | 19,200 | 19,300 | – 50 | 19,400 | 17,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 19,800 | 17,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | – 200 | 33,100 | 29,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,700 | 29,600 | 29,800 | – 300 | 30,500 | 26,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,900 | 28,800 | 29,000 | – 200 | 29,750 | 26,150 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 29,350 | 29,300 | 29,400 | – 150 | 30,600 | 26,750 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | + 200 | 32,600 | 28,650 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | – 200 | 33,500 | 29,600 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,250 | 30,200 | 30,300 | – 250 | 31,000 | 27,200 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 29,350 | 29,300 | 29,400 | – 250 | 30,200 | 26,450 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,800 | 29,700 | 29,900 | – 200 | 31,000 | 27,150 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,700 | 32,600 | 32,800 | – 50 | 33,200 | 29,800 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 32,600 | 32,500 | 32,700 | + 100 | 32,900 | 28,900 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,500 | 32,400 | 32,700 | 0 | 32,500 | 29,800 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,300 | 31,000 | 31,500 | – 200 | 31,800 | 28,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | 0 | 36,800 | 32,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 34,300 | 34,100 | 34,500 | – 300 | 35,100 | 31,300 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,900 | 33,800 | 34,000 | – 400 | 34,700 | 30,200 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,800 | 33,700 | 33,900 | 0 | 34,500 | 30,300 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,300 | 36,700 | + 100 | 36,700 | 32,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | + 100 | 36,400 | 32,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,100 | 35,900 | 36,300 | 0 | 36,000 | 33,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,000 | 34,900 | 35,100 | 0 | 35,300 | 32,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 34,500 | 34,400 | 35,000 | – 100 | 35,200 | 31,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 33,900 | 33,500 | 34,800 | – 200 | 34,800 | 31,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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