Indian spot steel trades improved with increased demand and the prices of Semis & Long steel products moved up by INR 100-300/MT day on day through the mid sized mills.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,500-28,600/MT (USD 359-403) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,000-17,000/MT (USD 225-240); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 25th October 2019 (Friday) INR to USD exchange rate stood at INR 70.89.
— ICEX (Indian Commodity Exchange Ltd) Nov’19 contract for STEELLONG today open at INR 27,920/MT & last traded (IST 18:07 hrs) at INR 27,890/MT.
— BSE Sensex closed at 39,058(+37) on Friday, as against last day (Thursday) at 39,020(-38).
— NSE Nifty50 index was closed today at 11,583(+1) & Nifty Metal at 2,410(-8).
Key Trades
— As per sources, in North (NCR region) India- industries may shutdown for a week due to pollution issues.
— Raipur based sponge producers have raised price by INR 100-200/MT due to healthy bookings last day and today offers for P-DRI stood at INR 15,600-15,700/MT ex-plant.
— Trade discounts in Raipur wire rod reported at INR 1,200-1,300/MT by re-sellers & INR 800/MT through the manufacturers. The base price stood firm at INR 31,300/MT ex-Raipur, however surge in Durgapur by INR 100/MT to INR 29,800-30,500/MT ex-Durgapur.
— Raipur, Central India based ERW pipe manufacturers has increased offers by INR 300/MT to INR 30,300-30,400/MT ex-plant & excluding GST.
— Central India, Raigarh based sponge manufacturer has concluded Billet deals at around INR 26,200/MT FoR Raipur.
— Rashmi Metaliks in Durgapur has increased sponge P-DRI price by INR 100/MT to INR 15,800/MT, as per sources.
— Neo Mtaliks in Durgapur has traded steel grade pig iron at around INR 23,200-23,300/MT ex-plant, as stated by officials.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix materials) at around INR 16,000/MT ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,800-15,900/MT ex-Bellary, an official reported. And added a deal of 4,000 MT P-DRI concluded for Hyderabad.
— A prime grade sponge iron (80 FeM) manufacturer based in Bellary (Karnataka) has concluded a deal of 2,500 MT C-DRI at INR 16,200-16,300/MT ex-plant.
Reference prices as on 25th October 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,400 | 21,300 | 21,500 | + 100 | 21,700 | 21,600 |
| Ex-Mumbai | HMS(80:20) | 20,500 | 20,400 | 20,600 | – 100 | 20,700 | 21,300 | |
| Ex-Chennai | HMS(80:20) | 19,400 | 19,300 | 19,600 | 0 | 19,100 | 20,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,000 | 16,900 | 17,100 | + 100 | 17,100 | 17,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,000 | 15,900 | 16,100 | + 100 | 16,350 | 16,650 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | + 100 | 16,800 | 17,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | + 100 | 16,450 | 16,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,800 | 15,700 | 15,900 | + 100 | 15,900 | 16,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,600 | 15,500 | 15,700 | + 150 | 15,700 | 16,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | + 100 | 16,050 | 16,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | + 100 | 16,500 | 16,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,400 | 28,300 | 28,500 | + 300 | 29,200 | 29,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | + 200 | 26,200 | 26,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,250 | 25,200 | 25,300 | + 250 | 25,800 | 25,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,650 | 25,600 | 25,700 | + 250 | 26,350 | 26,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,650 | 27,600 | 27,700 | + 150 | 28,200 | 27,800 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 300 | 29,400 | 29,400 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,400 | 26,300 | 26,500 | + 300 | 26,500 | 27,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,500 | 25,400 | 25,600 | + 200 | 26,200 | 26,200 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,200 | 26,100 | 26,300 | + 350 | 26,750 | 26,800 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,450 | 28,400 | 28,500 | + 150 | 28,200 | 28,100 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 27,850 | 27,800 | 27,900 | + 150 | 28,450 | 28,100 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 27,200 | 27,100 | 27,300 | + 100 | 27,400 | 27,200 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 26,300 | 26,000 | 26,500 | + 300 | 26,800 | 26,700 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,200 | 32,000 | 32,400 | + 200 | 33,000 | 32,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,300 | 30,100 | 30,500 | + 100 | 30,500 | 31,000 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,400 | 30,700 | + 100 | 31,000 | 31,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,700 | 29,500 | 29,700 | + 100 | 30,250 | 30,800 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 30,700 | 30,600 | 30,900 | – 100 | 31,200 | 31,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,100 | 31,300 | + 100 | 31,400 | 30,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,800 | 31,100 | 0 | 31,200 | 31,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,900 | 30,100 | + 100 | 30,700 | 30,800 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 29,900 | 29,800 | 30,500 | + 200 | 30,400 | 30,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,400 | 30,100 | 31,300 | 0 | 31,100 | 30,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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