Indian Semi-finished steel prices rise marginally amid average trade activities and as per daily assessment the Billet prices increased by INR 100-300/MT & Sponge iron by INR 100-200/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 26,200-30,100/MT (USD 348-400) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,700/MT (USD 219-235); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 20th March 2020 (Friday) INR to USD exchange rate stood at INR 75.15.
— ICEX (Indian Commodity Exchange Ltd) Apr’20 contract for STEELLONG today open at INR 27,940/MT & last traded (IST 18:34 hrs) at INR 28,630/MT.
— BSE Sensex closed at 29,915(+1,627) on Friday, as against last day (Thursday) at 28,288(-581).
— NSE Nifty50 index was closed today at 8,745(+482) & Nifty Metal at 1,692(+118).
Key Trades
— Indian mid scale mills export offers to Nepal stands at USD 350-353/MT for Billet & USD 395-398/MT for Wire rod; ex-mill at Durgapur. Limited deals reported.
— Melting scrap offers in Western India- Gujarat decline by INR 300/MT in a day trade activity.
— South African RB2 (5500 NAR) coal offers are assessed at USD 50/MT on FoB basis & USD 60/MT CNF India
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 163.5/MT FoB Australia & USD 173/MT CNF India.
— Raipur based sponge P-DRI manufacturers have reported deals at INR 16,800-17,000/MT on ex-plant & FoR basis from Raigarh.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,700-16,800/MT & Billet at INR 26,000/MT ex-plant.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,000-16,100/MT ex-Bellary.
— Billet deals learned at INR 26,800/MT FoR Raipur from Raigarh based manufacturers.
— Muzaffarnagar based Sarvottam Rolling Mills Pvt. Ltd. (Paras TMT) is current offering at INR 31,600/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 31,200/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offer at INR 35,400/MT.
— Chennai based ARS Steel (Trusteel – 550D) has unchanged their offer at INR 38,000/MT.
— Trade discount in Raipur wire rod firm at INR 1,100-1,200/MT through traders, along with steady base price at INR 30,300/MT ex-plant. However in Durgapur
prices increased by INR 200/MT to INR 29,500-30,000/MT ex-plant.
— ERW Pipe offers fluctuated by INR 100-200/MT to INR 31,800/MT ex-Raipur, INR 34,500/MT ex-Mandi Gobindgarh & INR 32,000/MT ex-Rourkela.
Reference prices as on 20th March 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,600 | 22,500 | 22,700 | – 300 | 23,000 | 23,500 |
| Ex-Mumbai | HMS(80:20) | 22,500 | 22,400 | 22,700 | – 100 | 23,100 | 23,400 | |
| Ex-Chennai | HMS(80:20) | 21,800 | 21,700 | 22,000 | 0 | 22,000 | 21,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,450 | 17,400 | 17,500 | + 150 | 18,450 | 19,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | + 100 | 17,300 | 18,600 | |
| Ex-Raipur | 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 19,900 | 20,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 17,600 | 18,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,550 | 16,500 | 16,600 | + 150 | 17,500 | 18,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | + 200 | 18,000 | 18,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | 0 | 17,300 | 18,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | – 200 | 17,900 | 18,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,800 | 29,700 | 29,900 | + 300 | 30,000 | 31,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,400 | 26,300 | 26,500 | + 400 | 27,000 | 28,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | + 300 | 26,900 | 28,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,250 | 26,200 | 26,300 | + 300 | 27,300 | 28,650 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,400 | 28,300 | 28,500 | – 100 | 29,700 | 30,500 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | + 300 | 30,200 | 32,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,800 | 26,700 | 26,900 | + 300 | 27,500 | 29,100 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 26,200 | 26,100 | 26,300 | + 300 | 27,200 | 28,500 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,650 | 26,600 | 26,700 | + 200 | 27,700 | 29,150 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | 0 | 29,500 | 30,900 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,900 | 28,800 | 29,000 | – 100 | 30,100 | 30,900 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,100 | 29,900 | 30,200 | 0 | 30,500 | 30,350 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 28,000 | 27,900 | 28,100 | 0 | 28,500 | 30,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,700 | 32,500 | 32,900 | – 100 | 33,900 | 35,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,600 | 30,400 | 30,800 | + 100 | 31,800 | 33,000 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,800 | 31,000 | 0 | 31,800 | 33,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,800 | 31,100 | + 100 | 32,000 | 33,100 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 35,100 | 35,000 | 35,300 | – 200 | 36,000 | 35,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 33,400 | 33,200 | 33,600 | – 300 | 34,800 | 35,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,500 | 34,900 | 0 | 34,700 | 34,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,500 | 32,400 | 32,600 | 0 | 33,300 | 35,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 29,800 | 29,500 | 30,000 | + 200 | 31,200 | 32,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 29,400 | 29,100 | 30,300 | 0 | 31,100 | 32,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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