Indian Semi-finished steel prices rise marginally amid average trade activities and as per assessment the domestic Billet prices increase by INR 200-300/MT & Sponge iron by INR 100-300/MT, day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 29,000-32,200/MT (USD 407-452) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,600-20,100/MT (USD 261-282); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 6th February 2020 (Thursday) INR to USD exchange rate stood at INR 71.16.
— ICEX (Indian Commodity Exchange Ltd) Mar’20 contract for STEELLONG today open at INR 32,220/MT & last traded (IST 18:14 hrs) at INR 31,870/MT.
— BSE Sensex closed at 41,306(+163) on Thursday, as against last day (Wednesday) at 41,142(+353).
— NSE Nifty50 index was closed today at 12,133(+44) & Nifty Metal at 2,684(+19).
Raw Material
— Indian iron ore exports in Jan’20 were recorded at 2.85 MnT in Jan’20, highest since Apr’17, according to data maintained with SteelMint.
— Silicon Manganese (60-14) deals learned at INR 65,000-65,500/MT ex-Raipur.
— Melting scrap offers in Western India- Gujarat incline by INR 300/MT in a day trade activity.
Semi Finished
— Indian Sponge iron export offers slightly drop to USD 295-300/MT CPT Benapole, equivalent to USD 310-315/MT CFR Chittagong, Bangladesh.
— Neo Metaliks has kept steel grade pig iron price firm at INR 28,000-28,200/MT ex-Durgapur.
— Furnaces in Raipur & Raigarh purchased steel grade pig iron at around INR 29,000/MT FoR basis, advance payment.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,200/MT & Billet at INR 29,000/MT ex-plant; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,600-18,800/MT ex-Bellary & around 5,000 MT deals reported in nearby market.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 19,700/MT & Billet at INR 31,200/MT ex-plant.
— BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 18,600/MT & INR 18,900/MT ex-plant, Karnataka; an official reported.
Rebar (12 mm)
— Rathi Steels based in North region is offering at INR 36,900/MT ( up by INR 200/MT).
— Muzaffarnagar based Sarvottam Rolling Mills Pvt. Ltd.(Paras TMT) is current offering at INR 34,700/MT.
— Raipur based Real Ispat (GK TMT) is offering at INR 35,400/MT (up by INR 400/MT).
— Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 34,000/MT (up by INR 300/MT).
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 33,700/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is current offering at INR 36,000/MT.
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is offering at INR 36,700/MT FoR. (up by INR 200/MT).
Wire Rod & Pipe
— Wire rod offers by Jharsuguda, Odisha based manufacturer reported at INR 33,000-33,200/MT ex-plant. The plant recent has started wire rod mill.
— Wire rod manufacturers in Raipur have raised offers by INR 300/MT to INR 33,200/MT ex-plant, however deals through the traders learned at INR 33,000/MT ex-works. Meanwhile in Durgapur trades reported at INR 33,700-33,800/MT ex-plant.
— ERW Pipe Manufacturers have increased offers by INR 400-500/MT to INR 34,400-34,500/MT ex-Raipur, INR 37,000/MT ex-Mandi Gobindgarh & INR 34,500/MT ex-Rourkela.
Reference prices as on 6th February 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,800 | 23,700 | 23,900 | + 300 | 24,100 | 24,300 |
| Ex-Mumbai | HMS(80:20) | 22,700 | 22,500 | 22,800 | + 200 | 23,000 | 23,100 | |
| Ex-Chennai | HMS(80:20) | 22,300 | 22,100 | 22,500 | + 100 | 22,800 | 23,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,100 | 20,000 | 20,200 | + 100 | 20,600 | 20,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | + 300 | 19,500 | 20,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 100 | 20,200 | 21,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | + 100 | 19,000 | 19,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | + 100 | 19,600 | 19,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | + 200 | 19,300 | 20,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | + 200 | 18,700 | 19,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 19,300 | 19,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | – 100 | 32,300 | 33,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,500 | 29,400 | 29,600 | 0 | 30,000 | 30,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,550 | 28,500 | 28,600 | + 50 | 28,900 | 29,750 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 29,100 | 29,000 | 29,200 | + 350 | 29,200 | 30,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,600 | 30,800 | 0 | 31,800 | 32,600 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 32,200 | 32,100 | 32,300 | 0 | 32,800 | 33,500 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | 0 | 30,400 | 31,000 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 29,100 | 29,000 | 29,200 | + 200 | 29,200 | 30,200 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,700 | 29,600 | 29,800 | + 250 | 29,800 | 31,000 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 31,200 | 31,100 | 31,300 | + 200 | 32,300 | 33,200 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | 0 | 32,200 | 32,900 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,700 | 30,600 | 30,800 | 0 | 31,500 | 32,500 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | + 200 | 31,000 | 31,800 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,900 | 35,700 | 36,100 | + 200 | 36,300 | 36,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 34,100 | 33,900 | 34,300 | + 300 | 34,300 | 35,100 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,500 | 33,400 | 33,600 | + 300 | 33,500 | 34,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,300 | 33,200 | 33,400 | + 100 | 33,500 | 34,500 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 35,900 | 35,700 | 36,000 | 0 | 36,100 | 36,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 34,900 | 34,700 | 35,100 | 0 | 35,800 | 36,400 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,300 | 35,700 | 0 | 35,700 | 36,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,900 | 34,800 | 35,000 | + 600 | 34,700 | 35,300 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 33,800 | 33,700 | 34,000 | + 200 | 34,100 | 35,200 |
| Ex-Raipur | Wire Rod(5.5 MM) | 33,000 | 32,900 | 33,200 | + 300 | 33,100 | 34,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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