Daily Update: Indian Steel Market 29 Nov'19
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Indian sponge iron & Billet prices slightly fluctuated by INR 100-200/MT today amid average spot trades.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,900-29,400/MT (USD 361-410) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,800-18,200/MT (USD 234-253); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 29th November 2019 (Friday) INR to USD exchange rate stood at INR 71.65.
-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 29,380/MT & last traded (IST 18:38 hrs) at INR 29,100/MT.
-- BSE Sensex closed at 40,793(-336) on Friday, as against last day (Thursday) at 41,130(+109).
-- NSE Nifty50 index was closed today at 12,056(-95) & Nifty Metal at 2,625(-31).
Raw Material
-- As per officials, Karnataka based pellet maker- XIndia has sold about 5,000 MT pellets in local market at INR 6,150-6,200/MT ex-plant.
-- Melting scrap offers in Western India- Gujarat incline by INR 200/MT in a day trade activities.
-- Karnataka based sponge & Pellet manufacturer- BMM Ispat has sold about 8,000 MT pellets in Hyderabad & local market at INR 6,200/MT (ex-plant) since yesterday.
Semi Finished
-- Induction furnace grade billet, export deal of one rake to Nepal reported at around INR 26,000/MT (USD 362/MT) from Odisha on ex-plant basis- Sources.
-- Raipur based a major sponge manufacturer has reduced sponge P-DRI price by INR 100/MT to INR 16,600-16,700/MT ex-plant.
-- Rashmi Metaliks in Durgapur slightly raised sponge P-DRI price by INR 100-200/MT to INR 17,200-17,300/MT, as per sources.
-- Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 26,000/MT ex-plant, an official reported. Majorly deals concluded for Patna (Bihar) market, an official reported. Freight to Patna via road at INR 1,400-1,500/MT.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,900/MT & Billet at INR 25,900-26,000/MT ex-plant; an official reported.
-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 16,800/MT, ex-plant & excluding GST.
-- BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 16,700/MT & INR 17,100/MT ex-plant, Karnataka; an official reported.
-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 16,800-17,000/MT ex-plant, an official reported.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,700-16,800/MT ex-Bellary, an official reported. And added a deal of around 600 MT P-DRI concluded for Hyderabad.
Rebar (12 mm)
-- Rathi Steels based in North region is offering at INR 33,300/MT (up by INR 100/MT).
-- Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 30900/MT.
-- Raipur based Real Ispat (GK TMT) is offering at INR 32,300/MT (up by INR 300/MT).
-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is current offering at INR 31,300/MT
-- Jalna based Gajkesari Steels and Alloys Pvt. Ltd. (Gajkesari TMT) is current offering at INR 31,100/MT.
-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is current offering at INR 32,600/MT FoR.
Wire Rod & Pipe
-- Trade discounts in Raipur wire rod slightly up by INR 200/MT to INR 1,400-1,600/MT through the traders, also base price up by mills by INR 300/MT to INR 31,500/MT ex-Raipur. Similarly in Durgapur trade reference price up by INR 100/MT to INR 31,000-31,100/MT ex-plant.
-- ERW Pipe Manufacturers in North & Central India have increased their offers by INR 200-400/MT in a day trade activities. Offers reported at INR 30,800/MT ex-Raipur & INR 34,200/MT ex-Mandi Gobindgarh.
Reference prices as on 29th November 2019
Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
Scrap | Ex-Alang | HMS(80:20) | 22,200 | 22,100 | 22,300 | + 200 | 22,200 | 22,100 |
Ex-Mumbai | HMS(80:20) | 21,100 | 20,900 | 21,200 | 0 | 21,300 | 21,300 | |
Ex-Chennai | HMS(80:20) | 20,600 | 20,400 | 20,800 | + 100 | 20,300 | 19,700 | |
C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,200 | 18,100 | 18,300 | + 100 | 18,000 | 17,500 |
Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,850 | 16,800 | 16,900 | + 100 | 16,650 | 16,300 | |
Ex-Raipur | Mix, FeM 80%, +/-1 | 17,600 | 17,500 | 17,700 | 0 | 17,500 | 17,000 | |
Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 16,800 | 16,450 | |
P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,200 | 17,100 | 17,300 | + 100 | 17,000 | 16,500 |
Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | 0 | 16,500 | 16,000 | |
Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | 0 | 16,600 | 16,200 | |
Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | 0 | 17,000 | 16,500 | |
Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 28,900 | 29,100 | - 200 | 28,700 | 28,700 |
Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,900 | 26,800 | 27,000 | + 50 | 26,750 | 26,350 | |
Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,600 | 25,500 | 25,700 | 0 | 25,550 | 25,350 | |
Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,050 | 26,000 | 26,100 | - 50 | 26,000 | 26,000 | |
Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,950 | 27,900 | 28,000 | + 250 | 27,700 | 28,250 | |
Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 29,400 | 29,300 | 29,500 | - 200 | 29,000 | 28,900 |
Ex-Durgapur | 100x100 mm, IS 2831 | 27,200 | 27,100 | 27,300 | + 50 | 27,000 | 26,650 | |
Ex-Rourkela | 100x100 mm, IS 2831 | 25,950 | 25,900 | 26,000 | - 150 | 25,900 | 25,700 | |
Ex-Raipur | 100x100 mm, IS 2831 | 26,300 | 26,200 | 26,400 | - 50 | 26,300 | 26,500 | |
Ex-Ahmedabad | 100x100 mm, IS 2831 | 28,800 | 28,700 | 28,900 | + 100 | 28,550 | 28,700 | |
Ex-Mumbai | 100x100 mm, IS 2831 | 28,150 | 28,100 | 28,200 | + 150 | 28,000 | 28,500 | |
Ex-Chennai | 100x100 mm, IS 2831 | 28,250 | 28,200 | 28,300 | + 50 | 27,800 | 27,150 | |
Ex-Hyderabad | 100x100 mm, IS 2831 | 27,800 | 27,500 | 28,000 | 0 | 27,800 | 27,000 | |
TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,200 | 32,100 | 32,500 | + 100 | 32,400 | 32,700 |
Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,400 | + 100 | 31,000 | 30,600 | |
Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,200 | 30,100 | 30,300 | + 200 | 30,100 | 30,500 | |
Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,700 | 29,600 | 29,800 | 0 | 29,700 | 29,900 | |
Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,400 | 31,300 | 31,500 | + 100 | 31,500 | 31,300 | |
Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,300 | 31,700 | + 100 | 31,300 | 31,800 | |
Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 32,000 | + 100 | 31,800 | 30,800 | |
Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,200 | 31,500 | + 100 | 31,300 | 30,500 | |
Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,100 | 31,000 | 31,500 | + 100 | 30,800 | 30,300 |
Ex-Raipur | Wire Rod(5.5 MM) | 30,500 | 30,000 | 31,500 | + 200 | 30,200 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research