Indian Semi-finished offers rise further over rise in raw material prices; Sponge iron offers rise by INR 100-300/MT & Billet upto INR 400/MT D-o-D.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,200-29,600/MT (USD 369-417) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,900-18,300/MT (USD 238-258); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 17th December 2019 (Tuesday) INR to USD exchange rate stood at INR 70.94.
— ICEX (Indian Commodity Exchange Ltd) Jan’19 contract for STEELLONG today open at INR 29,080/MT & last traded (IST 18:14 hrs) at INR 29,280/MT.
— BSE Sensex closed at 41,352(+413) on Tuesday, as against last day (Monday) at 40,938(-71)
— NSE Nifty50 index was closed today at 12,165(+111) & Nifty Metal at 2,665(+74).
Raw Material
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 134/MT FoB Australia & USD 148.9/MT CNF India.
Semi Finished
— Neo Metails in Durgapur has kept steel grade pig iron prices firm and deals of around 500 MT reported at INR 24,500/MT ex-plant.
— Jindal Steel has traded about 3,000 MT Sponge P-DRI (FeM 79+) at INR 16,300-16,400/MT ex-plant, Raigarh, Central India.
— Raipur based sponge P-DRI manufacturers have raised prices by INR 300/MT to INR 17,400/MT ex-plant & as per sources about 1,000-2,000 MT deals concluded.
— Rashmi Metaliks in Durgapur has increased sponge P-DRI price by INR 100-200/MT to INR 17,200/MT, as per sources.
— Odisha based sponge supplier sold around 3,000 MT FeM 80 C-DRI lumps to Jalna (Maharashtra) at INR 19,300-19,500/MT FoR Jalna.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,000/MT & Billet at INR 26,200/MT ex-plant; an official reported.
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 17,500/MT, ex-plant & excluding GST.
— BIOP Steels in South India has offered sponge C-DRI FeM 80 & 82 C-DRI lumps at INR 17,000/MT & INR 17,400/MT ex-plant, Karnataka; an official reported. And added a deal of around 1,200 MT sponge C-DRI Fem 80 for Maharashtra a day before at INR 16,900/MT.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,900-17,000/MT ex-Bellary, an official reported.
Rebar (12 mm)
— Rathi Steels based in North region is offering at INR 33,400/MT (up by INR 300/MT).
— Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 31,100/MT.
— Raipur based Real Ispat (GK TMT) is offering at INR 32,600/MT (up by INR 500/MT).
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 30,000-30,100/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 32,100/MT.
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is offering at INR 33,100/MT FoR.(up by INR 300/MT).
Wire Rod & Pipe
— Trade discount in Raipur wire rod more or less firm and assessed at INR 800-1,000/MT, although base price up by INR 300/MT to INR 31,500/MT ex-plant. Similarly in Durgapur trade reference prices up by INR 200-300/MT to INR 31,000-31,500/MT ex-plant.
— ERW Pipe Manufacturers in Raipur, Central India have increased offers by INR 500/MT to INR 31,300/MT ex-plant.
Reference prices as on 17th December 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,200 | 22,100 | 22,300 | + 100 | 21,900 | 21,900 |
| 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 | 0 | 21,200 | 20,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,100 | 18,000 | 18,200 | + 100 | 17,800 | 17,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | + 100 | 16,550 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | + 300 | 17,400 | 17,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | + 100 | 16,900 | 16,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,100 | 17,000 | 17,200 | + 100 | 16,800 | 16,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 17,400 | 17,300 | 17,500 | + 200 | 16,500 | 16,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | + 100 | 16,800 | 16,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,400 | 17,300 | 17,500 | + 150 | 17,200 | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,200 | 29,100 | 29,300 | + 100 | 28,700 | 28,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,800 | 26,700 | 26,900 | + 100 | 26,500 | 26,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | + 200 | 25,400 | 25,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,550 | 26,500 | 26,600 | + 250 | 25,800 | 25,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,400 | 28,300 | 28,500 | + 200 | 27,800 | 27,300 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 29,600 | 29,500 | 29,700 | + 150 | 29,000 | 28,800 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 27,100 | 27,000 | 27,200 | + 100 | 26,800 | 26,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,250 | 26,200 | 26,300 | + 150 | 25,750 | 25,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 27,050 | 27,000 | 27,100 | + 400 | 26,100 | 26,100 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 29,300 | 29,200 | 29,400 | + 300 | 28,750 | 28,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 150 | 28,050 | 27,500 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 29,600 | 29,500 | 29,700 | + 100 | 28,650 | 27,700 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,100 | + 200 | 27,500 | 27,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,400 | 32,200 | 32,600 | + 400 | 32,000 | 32,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,400 | + 200 | 30,900 | 30,900 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,100 | 30,000 | 30,200 | + 300 | 29,800 | 30,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,100 | 30,000 | 30,300 | + 400 | 29,400 | 29,700 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,900 | 31,800 | 32,100 | + 600 | 31,000 | 31,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 32,200 | 32,000 | 32,400 | + 100 | 31,800 | 31,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,100 | 33,000 | 33,300 | + 200 | 32,000 | 31,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,400 | 31,600 | + 300 | 31,000 | 30,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,200 | 31,000 | 31,500 | + 300 | 30,700 | 30,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,800 | 30,500 | 31,500 | + 400 | 29,800 | 30,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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