Indian Sponge iron & Billet prices slightly fluctuated by INR 100-300/MT today amid average spot trades.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 29,400-32,800/MT (USD 414-462) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 19,500-20,600/MT (USD 274-290); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 17th January 2020 (Friday) INR to USD exchange rate stood at INR 71.06.
— ICEX (Indian Commodity Exchange Ltd) Feb’20 contract for STEELLONG today open at INR 32,460/MT & last traded (IST 18:34 hrs) at INR 32,490/MT.
— BSE Sensex closed at 41,945(+12) on Friday, as against last day (Thursday) at 41,932(+59).
— NSE Nifty50 index was closed today at 12,352(-3) & Nifty Metal at 2,864(-20).
Raw Material
— Silicon Manganse (60-14) deals in Raipur assessed at near about INR 67,500-68,000/MT ex-plant.
Semi Finished
— Induction grade billet export offers more or less firm at around USD 420-423/MT ex-Durgapur, equivalent to USD 445-450/MT CPT Nepal.
— Jindal Steel has kept steel grade pig iron price firm at INR 29,500/MT ex-plant, Raigarh, Central India.
— Neo Metaliks has reported deals for steel grade pig iron at around INR 28,000/MT ex-Durgapur.
— Raipur based sponge P-DRI manufacturers have kept prices unchanged at INR 19,600-19,700/MT ex-plant, however deals majorly learned from Raigarh at INR 19,600/MT on FoR Raipur basis.
— Billet deals learned at INR 30,000/MT FoR Raipur from Raigarh based manufacturers.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered Billet at INR 29,400-29,500/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
— BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,500/MT & INR 20,000/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,100-19,300/MT ex-Bellary, an official reported.
Rebar (12 mm)
— Rathi Steels based in North region is offering at INR 37,300/MT (down by INR 400/MT).
— Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 35,200/MT (up by INR 300/MT).
— Raipur based Real Ispat (GK TMT) is offering at INR 35,800/MT (down by INR 400/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 33,900/MT.
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,900/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offer at INR 36,700/MT.
Wire Rod
— Trade discount in Raipur wire rod drop by INR 200/MT to INR 1,000-1,200/MT along with reduce base price by INR 300/MT to INR 34,500/MT ex-plant. However, in Durgapur trade reference price steady at INR 34,400-35,000/MT ex-plant.
— ERW Pipe Manufacturers have decreased offers by INR 100-300/MT to INR 34,600-34,800/MT ex-Raipur, INR 37,200/MT ex-Mandi Gobindgarh & INR 35,500/MT ex-Rourkela.
Reference prices as on 17th 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 | 0 | 24,500 | 22,400 |
| Ex-Mumbai | HMS(80:20) | 23,100 | 23,000 | 23,300 | + 100 | 23,100 | 21,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,400 | 20,300 | 20,500 | + 100 | 20,600 | 18,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | + 50 | 20,200 | 17,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | 0 | 21,200 | 18,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 100 | 19,900 | 17,450 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | + 100 | 19,700 | 17,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | 0 | 20,400 | 18,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | – 50 | 19,400 | 17,250 | |
| 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 | 32,200 | 32,100 | 32,300 | + 100 | 32,850 | 30,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 29,900 | 30,100 | + 300 | 30,400 | 27,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,100 | 29,000 | 29,200 | + 200 | 29,600 | 26,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 29,500 | 29,400 | 29,600 | + 150 | 30,200 | 27,250 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | – 200 | 32,400 | 29,150 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 32,700 | 32,600 | 32,800 | + 200 | 33,250 | 30,500 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | + 250 | 30,800 | 27,500 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 29,600 | 29,500 | 29,700 | + 250 | 30,100 | 26,800 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,900 | 29,800 | 30,000 | + 100 | 30,650 | 27,650 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,800 | 32,700 | 32,900 | + 100 | 33,000 | 30,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 32,400 | 32,300 | 32,500 | – 200 | 32,700 | 29,400 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,300 | 31,000 | 31,500 | 0 | 31,500 | 28,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,400 | – 300 | 36,800 | 33,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 34,300 | 34,100 | 34,500 | 0 | 35,000 | 31,400 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,900 | 33,800 | 34,000 | 0 | 34,500 | 30,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,600 | 33,500 | 33,800 | – 200 | 34,400 | 30,600 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,200 | 36,600 | – 100 | 36,700 | 32,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | 0 | 36,400 | 32,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,900 | 34,700 | 35,000 | – 100 | 35,200 | 32,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 34,500 | 34,400 | 35,000 | 0 | 35,000 | 31,400 |
| Ex-Raipur | Wire Rod(5.5 MM) | 33,600 | 33,300 | 34,500 | – 300 | 34,700 | 31,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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