Indian semi finished market reported mix trends while billet offers decline by INR 100-300/MT & sponge fluctuated by INR 100-200/MT in major markets.
In context to finished long (Rebar), prices marginally fluctuated by INR 100-300/MT in major locations on average trade activities.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 29,200-32,600/MT (USD 408-456) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,900-20,600/MT (USD 264-289); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 31st January 2020 (Friday) INR to USD exchange rate stood at INR 71.38.
— ICEX (Indian Commodity Exchange Ltd) Feb’20 contract for STEELLONG today open at INR 32,540/MT & last traded (IST 18:30 hrs) at INR 32,450/MT.
— BSE Sensex closed at 40,723(-190) on Friday, as against last day (Thursday) at 40,913(-284).
— NSE Nifty50 index was closed today at 11,962(-73) & Nifty Metal at 2,569(-59).
— As per assessment containerized Shredded 211 from North America and Europe to India now stands at USD 290-294/MT CFR, down by USD 6-8/MT W-o-W, against USD 295-299/MT.
— Melting scrap offers in Western India- Mumbai (Maharashtra) decline by INR 100-200/MT in a day trade activity.
— Rashmi Metaliks in Durgapur has offers Sponge P-DRI at around INR 19,600/MT, as per market sources.
— Officials from Neo Metaliks, Durgapur stated limited inquiries for the steel grade pig iron at prevailing offers of INR 28,500/MT ex-plant.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 30,300/MT & INR 31,100/MT on FoR basis & excluding 18% GST.
— Raipur based sponge P-DRI makers have slightly reduced their offers by INR 100-200/MT to INR 19,200/MT ex-plant
— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 19,400-19,500/MT, ex-plant & excluding GST
— BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 18,700-18,800/MT ex-Bellary, Karnataka.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 18,600/MT ex-plant, an official reported.
Rebar (12 mm)
— Rathi Steels based in North region has unchanged their offer at INR 37,400/MT.
— Muzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 34,900/MT (down by INR 100/MT).
— Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 35,600/MT.
— Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,600-33,700/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 36,300/MT.
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) has unchanged their offer at INR 36,300/MT.
— Gujarat based, Mono Steel (India) Ltd. (Mono TMT) is current offering at INR 37,300/MT FoR.
Wire Rod & Pipe
— APL Apollo Tubes Ltd, has to increase Pipe price by INR 1,000/MT to INR 43,500/MT (USD 610); ex-plant in central India, Chhattisgarh for Feb’20.
— ERW Pipe offers by fluctuated INR 100-300/MT to INR 34,600-34,800/MT ex-Raipur, INR 36,800/MT ex-Mandi Gobindgarh & INR 34,500/MT ex-Rourkela.
Reference prices as on 31st January 2020
|Particular/Delivery||Size, Grade, Origin||Prices||Min||Max||Change||1W||1M|
|C-DRI||Ex-Durgapur||Mix, FeM 78%, +/-1||20,600||20,500||20,700||0||20,700||20,200|
|Ex-Rourkela||Mix, FeM 80%, +/-1||19,500||19,400||19,600||0||19,500||19,900|
|Ex-Raipur||Mix, FeM 80%, +/-1||20,300||20,200||20,400||+ 100||20,600||20,900|
|Ex-Bellary||Lumps, FeM 80%, +/-1||18,900||18,800||19,000||– 100||19,200||19,500|
|P-DRI||Ex-Durgapur||Lumps, FeM 78%, +/-1||19,600||19,500||19,700||0||19,750||19,300|
|Ex-Raipur||Lumps, FeM 80%, +/-1||19,200||19,100||19,300||– 100||19,700||20,100|
|Ex-Bellary||Lumps, FeM 80%, +/-1||18,600||18,500||18,700||– 100||18,900||19,300|
|Ex-Hyderabad||Lumps, FeM 80%, +/-1||19,200||19,100||19,300||– 100||19,500||19,800|
|Ingot||Ex-Mandi Gobindgarh||3.5 x 4.5 Inch, IS 2830||32,050||32,000||32,100||– 250||32,500||32,500|
|Ex-Durgapur||3.5 x 4.5 Inch, IS 2830||29,900||29,800||30,000||– 100||30,200||30,000|
|Ex-Rourkela||3.5 x 4.5 Inch, IS 2830||28,800||28,700||28,900||– 100||28,950||29,650|
|Ex-Raipur||3.5 x 4.5 Inch, IS 2830||29,100||29,000||29,200||– 100||29,550||30,100|
|Ex-Mumbai||3.5 x 4.5 Inch, IS 2830||31,500||31,400||31,600||– 300||32,000||32,200|
|Billet||Ex-Mandi Gobindgarh||100×100 mm, IS 2831||32,550||32,500||32,600||– 250||32,900||33,000|
|Ex-Durgapur||100×100 mm, IS 2831||30,350||30,300||30,400||– 50||30,700||30,250|
|Ex-Rourkela||100×100 mm, IS 2831||29,250||29,200||29,300||+ 50||29,500||29,900|
|Ex-Raipur||100×100 mm, IS 2831||29,700||29,600||29,800||– 100||30,100||30,600|
|Ex-Ahmedabad||100×100 mm, IS 2831||32,000||31,900||32,100||– 300||32,900||32,900|
|Ex-Mumbai||100×100 mm, IS 2831||31,900||31,800||32,000||– 300||32,300||32,500|
|Ex-Chennai||100×100 mm, IS 2831||31,500||31,400||31,600||0||31,900||32,800|
|Ex-Hyderabad||100×100 mm, IS 2831||31,000||30,900||31,100||0||31,300||31,500|
|TMT||Ex-Delhi/NCR||12-25 MM, IS 1786- 500 Fe||36,200||36,000||36,400||– 100||36,800||36,200|
|Ex-Durgapur||12-25 MM, IS 1786- 500 Fe||34,200||34,000||34,600||– 100||34,600||34,600|
|Ex-Rourkela||12-25 MM, IS 1786- 500 Fe||33,600||33,500||33,700||+ 100||33,700||34,300|
|Ex-Raipur||12-25 MM, IS 1786- 500 Fe||33,400||33,400||33,600||– 100||33,500||34,200|
|Ex-Jalna||12-25 MM, IS 1786- 500 Fe||36,100||35,900||36,300||0||36,200||36,300|
|Ex-Mumbai||12-25 MM, IS 1786- 500 Fe||35,800||35,600||36,000||0||36,200||35,800|
|Ex-Chennai||12-25 MM, IS 1786- 500 Fe||35,600||35,500||35,800||– 100||36,000||36,300|
|Ex-Hyderabad||12-25 MM, IS 1786- 500 Fe||34,800||34,700||34,900||+ 100||35,000||35,200|
|Wire Rod||Ex-Durgapur||Wire Rod(5.5 MM)||34,000||34,000||34,300||– 100||34,700||34,800|
|Ex-Raipur||Wire Rod(5.5 MM)||33,100||33,000||33,300||0||33,700||34,800|
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research