Indian sponge iron & Billet prices decline by INR 100-500/MT today amid average spot trades.
As per daily assessment, the major change seen in southern India, Hyderabad where Billet & Rebar prices plunged by INR 500/MT (USD 7). While in remaining markets it declined by INR 100-200/MT, day on day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 28,300-31,900/MT (USD 395-446) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,400-19,500/MT (USD 257-273); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 19th February 2020 (Wednesday) INR to USD exchange rate stood at INR 71.51.
— ICEX (Indian Commodity Exchange Ltd) Mar’20 contract for STEELLONG today open at INR 31,740/MT & last traded (IST 18:13 hrs) at INR 31,750/MT.
— BSE Sensex closed at 41,323(+428) on Wednesday, as against last day (Tuesday) at 40,894(-161).
— NSE Nifty50 index was closed today at 12,130(+137) & Nifty Metal at 2,590(+34).
Key Trades
— Karnataka based sponge & Pellet manufacturer- BMM Ispat has sold about 5,000 MT pellets in Hyderabad market at around INR 7,100/MT (ex-plant).
— SAIL’s Rourkela Steel Plant tender held today (19th Feb’20) to sell about 2450 MT steel grade pig iron & had received weak response. The base price for the tender was quoted by RSP at INR 27,800/MT and only 10% of the material offered got booked.
— Indian mid scale mills export offers to Nepal stands at USD 400-405/MT for Billet & USD 450-455/MT for Wire rod, ex-mill at Durgapur.
— Rashmi Metaliks in Durgapur has slightly reduced sponge P-DRI offers to INR 18,500-600/MT, as per sources.
— Raipur sponge P-DRI offers down by INR 100/MT to INR 18,500/MT ex-plant and as per sources over 5,000 MT deals concluded.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,200/MT & Billet at INR 28,300/MT ex-plant; an official reported.
— Apple Industries in Bellary (Karnataka) offered Billet at INR 30,300-30,400/MT ex-plant.
— BIOP Steels in South India has decreased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 18,400/MT & INR 18,800/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,300-18,400/MT ex-Bellary & around 2,500 MT deals reported in nearby market.
— Wire rod offers through the traders in Raipur assessed at around INR 32,300/MT, however by plants it was reduced by INR 300/MT to INR 32,500/MT ex-works. Offers in Durgapur drop by INR 100/MT to INR 32,700-33,200/MT ex-plant.
— ERW Pipe Manufacturers have decreased offers by INR 100-300/MT to INR 33,800/MT ex-Raipur, INR 36,500/MT ex-Mandi Gobindgarh & INR 33,800-34,000/MT ex-Rourkela.
Reference prices as on 19th February 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,600 | 23,500 | 23,700 | – 500 | 23,100 | 23,600 |
| Ex-Mumbai | HMS(80:20) | 23,100 | 23,000 | 23,300 | 0 | 22,400 | 22,800 | |
| Ex-Chennai | HMS(80:20) | 21,800 | 21,700 | 22,000 | 0 | 21,800 | 23,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | – 200 | 19,450 | 20,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | – 400 | 18,750 | 19,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | – 100 | 19,500 | 20,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | – 100 | 18,700 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,450 | 18,400 | 18,500 | – 200 | 18,450 | 19,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | – 100 | 18,500 | 19,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | – 100 | 18,600 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | – 100 | 19,100 | 19,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | + 100 | 31,000 | 31,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,700 | 28,600 | 28,800 | – 50 | 28,700 | 29,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,100 | 28,000 | 2,800 | 0 | 28,000 | 28,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,550 | 28,500 | 28,600 | + 50 | 28,350 | 28,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | – 200 | 29,800 | 31,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 31,900 | 31,800 | 32,000 | + 100 | 31,450 | 32,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 29,200 | 29,100 | 29,300 | – 50 | 29,200 | 30,200 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 28,400 | 28,300 | 28,500 | – 200 | 28,300 | 28,700 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,100 | 29,000 | 29,200 | 0 | 28,850 | 29,050 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 30,900 | 30,800 | 31,000 | – 200 | 30,300 | 32,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | – 200 | 30,200 | 31,400 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,550 | 30,500 | 30,600 | – 250 | 30,700 | 32,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | – 500 | 30,500 | 30,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,400 | 35,200 | 35,500 | – 200 | 35,000 | 35,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,800 | 33,200 | – 400 | 33,200 | 33,900 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,900 | 33,100 | – 200 | 33,200 | 33,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,200 | 33,100 | 33,300 | – 200 | 32,600 | 32,800 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 35,700 | 35,500 | 35,900 | – 200 | 35,000 | 35,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,100 | 34,900 | 35,300 | 0 | 34,300 | 35,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 34,800 | 34,700 | 35,000 | – 100 | 35,300 | 35,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,600 | 34,800 | – 400 | 34,200 | 34,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 32,800 | 32,700 | 33,200 | – 100 | 32,700 | 34,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,500 | 32,400 | 32,500 | – 100 | 32,200 | 32,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply