Indian steel prices drop on account of limited spot trades with the mid sized mills. On daily assessment, the Rebar & Billet prices plunged by INR 100-600/MT & Sponge iron by INR 100-200/MT.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 29,700-32,800/MT (USD 412-456) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,500-20,700/MT (USD 270-288); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 6th January 2020 (Monday) INR to USD exchange rate stood at INR 71.94.
— ICEX (Indian Commodity Exchange Ltd) Feb’20 contract for STEELLONG today open at INR 32,060/MT & last traded (IST 18:21 hrs) at INR 32,150/MT.
— BSE Sensex closed at 40,676(-787) on Monday, as against last day (Friday) at 41,464(-162).
— NSE Nifty50 index was closed today at 11,993(-233) & Nifty Metal at 2,765(-82).
Raw Material
— Melting scrap offers in Western India- Gujarat decline by INR 500/MT in a day trade activities.
Semi Finished
— Neo Metaliks in Durgapur has further raised steel grade pig iron price and deals reported at around INR 28,500/MT as against last week at INR 27,500/MT ex-plant.
— Mandi Gobindgarh, Punjab based billet manufacturer reported Sponge C-DRI lumps offer from Odisha at INR 19,900-20,000/MT ex-plant and freight cost cited at INR 3,400-3,500/MT via road.
— Rashmi Metaliks in Durgapur has kept Sponge P-DRI prices more or less firm at INR 19,300/MT, as per sources.
— The sponge manufacturers in Raipur have maintained prices at INR 20,000-20,200/t ex-plant for P-DRI; however no major deals due to competitive offers from Raigarh at INR 20,000/MT FoR Raipur.
— Billet deals learned at INR 30,300-30,400/MT FoR Raipur from Raigarh based manufacturers.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered Billet at INR 29,500-29,600/MT ex-plant.
— Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 20,400/MT & Billet at INR 32,300-32,500/MT ex-plant.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,500/MT & INR 20,000/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,400-19,500/MT ex-Bellary, an official reported.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 19,400-19,600/MT ex-plant, an official reported.
— Hyderabad, South India based steel manufacturers decreased their Billet & Rebar offer by INR 500/MT to INR 31,000/MT & INR 34,700/MT (12 mm). Prices are ex-plant & excluding GST.
Rebar (12 mm)
— Rathi Steels based in North region is offering at INR 36,400/MT (down by INR 800/MT).
— Muzaffarnagar based, Swarup Rolling Mills Pvt. Ltd. (Swarup TMT) is current offering at INR 34,600/MT.
— Sarvottam Rolling Mills Pvt. Ltd. (Paras TMT) based in Muzaffarnagar is offering at INR 34,700/MT.
— Raipur based Real Ispat (GK TMT) is offering at INR 36,200/MT (down by INR 200/MT).
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,900-34,000/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offer at INR 36,500/MT.
— Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is current offering at INR 38,600/MT.
— Gujarat based Diamond TMT is current offering at INR 38,200/MT.
— Gujarat based Akshar Ispat Ltd. (Akshat TMT) is current offering at INR 38,500/MT FoR.
Wire Rod & Pipe
— Trade discount in Raipur wire rod stands at INR 1,300-1,500/MT, although base prices drop by INR 300/MT to INR 35,400/MT ex-plant. Also in Durgapur trade reference prices slightly fall to INR 34,400-34,800/MT ex-plant.
— ERW Pipe Manufacturers have decreased offers by INR 300-400/MT to INR 35,000-35,200/MT ex-Raipur, INR 37,100/MT ex-Mandi Gobindgarh & INR 35,000/MT ex-Rourkela.
Reference prices as on 6th January 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,500 | 23,400 | 23,600 | – 500 | 23,600 | 21,900 |
| Ex-Mumbai | HMS(80:20) | 22,800 | 22,700 | 23,000 | – 200 | 22,700 | 21,400 | |
| Ex-Chennai | HMS(80:20) | 23,600 | 23,500 | 23,800 | 0 | 22,800 | 21,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,100 | 20,000 | 20,200 | 0 | 20,100 | 17,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,600 | 19,500 | 19,700 | – 200 | 19,100 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | – 100 | 20,100 | 17,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,500 | 0 | 19,000 | 16,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | 19,150 | 16,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 19,200 | 16,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,400 | 0 | 19,000 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | – 100 | 19,500 | 17,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,300 | 32,200 | 32,400 | + 100 | 31,850 | 28,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,800 | 29,700 | 29,900 | 0 | 29,500 | 26,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,200 | 29,100 | 29,300 | – 100 | 28,500 | 25,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 29,750 | 29,700 | 29,800 | – 250 | 29,100 | 25,750 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,800 | 31,700 | 31,900 | – 300 | 31,900 | 27,900 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 32,750 | 32,700 | 32,800 | + 50 | 32,500 | 28,950 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 30,100 | 30,000 | 30,200 | + 100 | 29,800 | 26,800 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 29,700 | 29,600 | 29,800 | – 100 | 29,100 | 25,600 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 30,250 | 30,200 | 30,300 | – 200 | 29,550 | 26,000 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 32,100 | 32,000 | 32,200 | – 600 | 32,700 | 28,600 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 32,100 | 32,000 | 32,200 | – 300 | 32,300 | 28,150 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 32,700 | 32,600 | 32,800 | – 300 | 31,800 | 28,700 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | – 500 | 31,000 | 27,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,400 | 35,200 | 35,600 | – 700 | 35,100 | 31,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 34,300 | 34,100 | 34,500 | – 100 | 33,800 | 30,900 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,900 | 33,800 | 34,000 | – 400 | 33,600 | 29,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,000 | 33,900 | 34,100 | – 200 | 32,800 | 29,400 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,300 | – 100 | 35,600 | 31,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,600 | 36,000 | 0 | 35,200 | 31,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,100 | 36,000 | 36,300 | – 200 | 34,800 | 31,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,600 | 34,800 | – 500 | 34,400 | 31,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 34,500 | 34,400 | 34,800 | – 100 | 34,100 | 30,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 34,400 | 33,900 | 35,400 | – 300 | 33,800 | 29,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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