Daily Update: Indian Steel Market 1 Nov'19
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Indian steel prices rise further on account of increased spot trades and rising demand with the mid sized mills. On daily assessment, the Billet & Rebar prices surge by INR 100-500/MT & Sponge iron by INR 200-300/MT.
The sharp increase in Billet prices marked in Hyderabad by INR 500/MT (USD 7), while in remaining markets the prices rise by INR 100-300/MT, day on day.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-28,900/MT (USD 363-409) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,300-17,500/MT (USD 230-248); prices are ex-plant & excluding GST.
RUPEE & BSE SENSEX
-- On 1st November 2019 (Friday) INR to USD exchange rate stood at INR 70.75.
-- ICEX (Indian Commodity Exchange Ltd) Dec'19 contract for STEELLONG today open at INR 28,270/MT & last traded (IST 18:13 hrs) at INR 28,240/MT.
-- BSE Sensex closed at 40,165(+35) on Friday, as against last day (Thursday) at 40,129(+77).
-- NSE Nifty50 index was closed today at 11,899(+22) & Nifty Metal at 2,558(+58).
RAW MATERIALS
-- Melting scrap offers in Western India- Gujarat incline by INR 300/MT in a day trade activities.
SEMI FINISHED
-- RINL has invited two bloom export tenders of size; 200*200 mm and 150 mm and quantity 20,000 MT and 30,000 MT respectively. Interested bidders can submit their bids till 04 Nov'19
-- Rashmi Metaliks in Durgapur have further raised sponge P-DRI prices by INR 200-300/MT to INR 16,500/MT, as per sources.
-- Neo Metaliks in Durgapur has increased steel grade pig iron price by INR 200-300/MT to INR 23,400-23,500/MT ex-plant.
-- Raipur based one of the major sponge P-DRI producer has raised prices by INR 300/MT to INR 16,000-16,100/MT (ex-plant), however no major deals learned due to healthy bookings yesterday.
-- Billet deals learned at INR 26,600/MT FoR Raipur from Raigarh based manufacturers.
-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 16,000/MT, ex-plant & excluding GST.
-- Southern India based A-One Steel has concluded 1,000 MT Billet (150x150) export deal for Busan, South Korea at around USD 410/MT CFR, officials reported
-- BIOP Steels in South India has increased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,500/MT & INR 16,900/MT ex-plant, Karnataka; an official reported.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,200-16,300/MT ex-Bellary, offers incline by INR 200/MT from the last trade; an official reported.
REBAR (12 mm)
-- Rathi Steels based in North region is offering at INR 33,700/MT (up by INR 400/MT).
-- Raipur based Real Ispat (GK TMT) is offering at INR 32,500/MT (up by INR 300/MT).
-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 31,400/MT
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their offers at INR 31,500/MT
-- Gujarat based, Mono Steel (India) Ltd. (Mono TMT) is current offering at INR 32,100/MT FoR.
WIRE ROD & PIPE
-- ERW Pipe Manufacturers have increased their offers by around INR 400/MT in a day trade activities. Offers reported at INR 30,600-30,700/MT ex-Raipur, INR 33,500/MT ex-Mandi Gobindgarh & 30300-30500/MT ex-Rourkela.
-- Trade discounts in Raipur wire rod through traders were at around INR 1,300/MT & by plants at INR 800/MT. However base prices up by INR 300/MT to INR 31,600/MT ex-Raipur & INR 400/MT to INR 30,200-30,600/MT ex-Durgapur.
Reference prices as on 1st November 2019
Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
Scrap | Ex-Alang | HMS(80:20) | 22,100 | 22,000 | 22,200 | + 300 | 21,400 | 21,500 |
Ex-Mumbai | HMS(80:20) | 21,300 | 21,100 | 21,400 | + 100 | 20,500 | 20,900 | |
Ex-Chennai | HMS(80:20) | 19,700 | 19,500 | 19,800 | + 100 | 19,400 | 19,400 | |
C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,500 | 17,400 | 17,600 | + 200 | 17,000 | 16,600 |
Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | + 200 | 16,000 | 16,300 | |
Ex-Raipur | Mix, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | + 300 | 16,600 | 17,000 | |
Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,450 | 16,400 | 16,500 | + 150 | 16,300 | 16,500 | |
P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,500 | 16,400 | 16,600 | + 300 | 15,800 | 15,500 |
Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,000 | 15,900 | 16,100 | + 250 | 15,600 | 15,700 | |
Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,200 | + 200 | 15,900 | 16,000 | |
Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | + 100 | 16,400 | 16,500 | |
Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,700 | 28,600 | 28,800 | + 50 | 28,400 | 28,400 |
Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,350 | 26,300 | 26,400 | + 150 | 26,000 | 25,800 | |
Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,350 | 25,300 | 25,400 | 0 | 25,250 | 25,100 | |
Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | + 200 | 25,650 | 25,600 | |
Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,250 | 28,200 | 28,300 | + 150 | 27,650 | 27,500 | |
Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 28,900 | 28,800 | 29,000 | 0 | 28,600 | 28,500 |
Ex-Durgapur | 100x100 mm, IS 2831 | 26,650 | 26,600 | 26,700 | + 150 | 26,400 | 26,100 | |
Ex-Rourkela | 100x100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | 0 | 25,500 | 25,600 | |
Ex-Raipur | 100x100 mm, IS 2831 | 26,500 | 26,400 | 26,600 | + 200 | 26,200 | 26,100 | |
Ex-Ahmedabad | 100x100 mm, IS 2831 | 28,700 | 28,600 | 28,800 | + 50 | 28,450 | 27,800 | |
Ex-Mumbai | 100x100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | + 150 | 27,850 | 27,700 | |
Ex-Chennai | 100x100 mm, IS 2831 | 27,150 | 27,100 | 27,200 | - 50 | 27,200 | 26,900 | |
Ex-Hyderabad | 100x100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | + 500 | 26,300 | 26,000 | |
TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,700 | 32,600 | 32,900 | + 400 | 32,200 | 31,800 |
Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,600 | 30,400 | 30,800 | + 200 | 30,300 | 29,800 | |
Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,400 | 30,600 | + 100 | 30,500 | 30,500 | |
Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,900 | 29,800 | 30,000 | + 100 | 29,700 | 30,200 | |
Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,100 | 31,500 | + 100 | 30,700 | 31,100 | |
Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 32,000 | + 100 | 31,200 | 30,800 | |
Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 30,800 | 30,700 | 31,100 | - 100 | 30,900 | 31,400 | |
Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,300 | 30,600 | + 500 | 30,000 | 30,000 | |
Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,300 | 30,200 | 30,600 | + 400 | 29,900 | 29,700 |
Ex-Raipur | Wire Rod(5.5 MM) | 30,800 | 30,300 | 31,600 | + 300 | 30,400 | 30,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research