Indian Steel prices marginally fluctuated by INR 100-200/MT today on average demand in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,400-28,300/MT (USD 357-399) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,000-17,200/MT (USD 225-242); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 30th October 2019 (Wednesday) INR to USD exchange rate stood at INR 70.96.
— ICEX (Indian Commodity Exchange Ltd) Dec’19 contract for STEELLONG today open at INR 28,090/MT & last traded (IST 18:15 hrs) at INR 28,030/MT.
— BSE Sensex closed at 40,051(+220) on Wednesday.
— NSE Nifty50 index was closed today at 11,844(+57) & Nifty Metal at 2,514(-4).
Raw Materials
— According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 147.5/MT FoB Australia & USD 162/MT CNF India.
— South African RB2 (5500 NAR) coal offers are assessed at USD 53.13/MT on FoB basis & USD 67.59/MT CNF India
Semi Finished
— Neo Metaliks in Durgapur has traded steel grade pig iron at around INR 23,200-23,300/MT ex-plant, as stated by officials.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 25,500-25,700/MT & INR 28,700-29,000/MT on FoR basis & excluding 18% GST.
— Mesco Steel’s pig iron offers in Jajpur, Odisha is hovering at INR 22,700/MT ex-plant.
— Raipur, Central India based integrated plants offering Sponge P-DRI at INR 15,700-15,800/MT & Sponge DR CLO grade at INR 17,700-17,800/MT ex-plant.
— 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. And few officials reported trade remains limited.
— BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,300/MT & INR 16,700/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,000-16,100/MT ex-Bellary, an official reported.
Rebar (12 mm)
— Rathi Steels based in North region is current offering at INR 33,300/MT.
— Raipur based Real Ispat (GK TMT) has unchanged their offers at INR 32,200/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 31,200/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 31,300/MT (up by INR 200/MT).
— Chennai based Ponneri Steel Ind. (Triple Power) is offering at INR 31,500/MT.
— J.R. Metal Chennai Ltd. (JR TMT) is current offering at INR 31,500/MT.
Wire Rod & Pipe
— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 33,200/MT ex-plant & excluding GST.
— Raipur, Central India based ERW pipe manufacturers have decreased offers by INR 100-200/MT to INR 30,000/MT ex-plant & excluding GST.
— ERW pipe offers in Odisha, east India reported at INR 30,500/MT ex-plant & excluding GST, a Pipe (100 TPD) manufacturer reported. And added trade remains limited.
Reference prices as on 30th October 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,700 | 21,600 | 21,800 | – 100 | 21,500 | 21,800 |
| Ex-Mumbai | HMS(80:20) | 21,000 | 20,900 | 21,200 | + 100 | 20,700 | 21,400 | |
| Ex-Chennai | HMS(80:20) | 19,600 | 19,400 | 19,800 | 0 | 19,400 | 19,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,200 | 17,100 | 17,300 | + 100 | 17,000 | 16,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,000 | 15,900 | 16,000 | 0 | 16,000 | 16,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,750 | 16,700 | 16,800 | + 50 | 16,600 | 17,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | – 100 | 16,300 | 16,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,100 | 16,000 | 16,200 | + 150 | 15,800 | 15,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,750 | 15,700 | 15,800 | + 50 | 15,500 | 16,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,000 | 15,900 | 16,100 | 0 | 15,900 | 16,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 16,400 | 16,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,100 | 28,000 | 28,200 | – 100 | 28,300 | 28,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | 0 | 25,850 | 26,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,100 | 25,000 | 25,200 | – 100 | 25,100 | 25,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,600 | 25,500 | 25,700 | – 100 | 25,500 | 25,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,850 | 27,800 | 27,900 | – 50 | 27,700 | 28,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 28,300 | 28,200 | 28,400 | – 100 | 28,500 | 29,050 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 26,400 | 26,300 | 26,500 | 0 | 26,200 | 26,300 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 25,400 | 25,300 | 25,500 | – 100 | 25,550 | 25,800 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 26,050 | 26,000 | 26,100 | – 150 | 26,000 | 26,400 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 50 | 28,400 | 28,100 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 28,100 | 28,000 | 28,200 | 0 | 27,900 | 28,200 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 27,200 | 27,100 | 27,300 | – 100 | 27,100 | 27,150 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 26,500 | 26,400 | 26,600 | 0 | 26,000 | 26,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,300 | 32,200 | 32,500 | 0 | 32,200 | 32,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,400 | 30,200 | 30,600 | + 200 | 30,300 | 30,300 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,300 | 30,200 | 30,400 | 0 | 30,500 | 30,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,800 | 29,700 | 29,900 | 0 | 29,800 | 30,500 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,200 | + 100 | 30,900 | 31,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,300 | 31,700 | 0 | 31,100 | 31,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,800 | 31,100 | 0 | 30,900 | 31,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,800 | 30,100 | – 200 | 29,700 | 30,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 29,800 | 29,600 | 30,000 | 0 | 29,800 | 30,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,400 | 30,100 | 31,300 | 0 | 30,300 | 30,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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