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Daily Update: Indian Steel Market 1 Oct'19

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BigMint Bureau
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1 Oct 2019, 18:23 IST
Daily Update: Indian Steel Market 1 Oct'19

Spot steel trades remained weak in Indian market, following which prices dropped on day trade activities by INR 100-400/MT through the mid sized mills.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,800-29,100/MT (USD 362-409) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,400-17,300/MT (USD 230-243); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 1st October 2019 (Tuesday) INR to USD exchange rate stood at INR 71.14.

-- ICEX (Indian Commodity Exchange Ltd) Nov'19 contract for STEELLONG today open at INR 28,320/MT & last traded (IST 18:17 hrs) at INR 28,300/MT.

-- BSE Sensex closed at 38,305(-361) on Tuesday, as against last day (Monday) at 38,667(-155).

-- NSE Nifty50 index was closed today at 11,359(-114) & Nifty Metal at 2,397(-42).

Key Trades

-- Jindal Steel has offered panther shots (granulated pig iron) at INR 22,000-22,500/MT ex-plant.

-- Melting scrap offers in Western India- Jalna (Maharashtra) decline by INR 300/MT in a day trade activities.

-- Raipur based manufacturers have reduced sponge P-DRI prices by INR 200/MT to INR 16,000/MT ex-plant. However limited deals reported due to falling billet prices.

-- Private pig iron producers in eastern India have roll-over prices and offers for steel grade learned at INR 23,000/MT ex-Bokaro by Electrosteels & INR 23,500-23,600/MT ex-Durgapur by Neo Metaliks.

-- Raigarh based Singhal Steel offered Billet at INR 26,000/MT (ex-plant) & INR 26,500/MT FoR Raipur, officials reported.

-- Trade discounts in Raipur wire rod is hovering at INR 800-1,100/MT and base prices drop by INR 300/MT to INR 31,200/MT ex-plant. Similarly, in Durgapur trade reference prices corrected by INR 300/MT to INR 29,800-30,500/MT ex-plant.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,600/MT & INR 17,000/MT ex-plant, Karnataka. Limited trade activities reported through the officials.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,100-16,200/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 16,000-16,200/MT ex-plant, an official reported.

-- Rathi Steels based in North region has unchanged their 12 mm Rebar offer at INR 33,300/MT.

-- Central region Raipur based SPEED TMT is current offering their 12 mm Rebar at INR 30,700/MT (down by INR 400/MT).

-- Raigarh based Scan Group branding (Shrishti TMT) is offering 12 mm Rebar at INR 31,300/MT(down by INR 200/MT).

-- Western region Gujarat based Diamond TMT offers their 12 mm Rebar at INR 31,700/MT(down by INR 200/MT).

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering their 12 mm Rebar at INR 31,300/MT(down by INR 200/MT).

Reference prices as on 1st October 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 21,800 21,700 21,900 - 200 21,500 21,000
Ex-Mumbai HMS(80:20) 21,400 21,200 21,500 0 21,200 21,400
Ex-Chennai HMS(80:20) 19,700 19,400 19,800 - 100 20,400 20,300
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 16,700 16,600 16,800 - 250 17,400 17,800
Ex-Rourkela Mix, FeM 80%, +/-1 16,600 16,500 16,700 - 100 16,800 16,300
Ex-Raipur Mix, FeM 80%, +/-1 17,300 17,200 17,400 - 200 17,300 17,200
Ex-Bellary Lumps, FeM 80%, +/-1 16,500 16,400 16,600 0 16,600 16,600
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 15,700 15,600 15,800 - 250 16,400 16,800
Ex-Raipur Lumps, FeM 80%, +/-1 16,000 15,900 16,100 - 150 16,200 15,850
Ex-Bellary Lumps, FeM 80%, +/-1 16,100 16,000 16,200 0 16,350 16,300
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,700 16,600 16,800 - 100 16,800 16,700
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 28,900 28,800 29,000 - 50 28,800 28,950
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,000 25,900 26,100 - 400 26,600 26,400
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,600 25,500 25,700 - 200 25,800 25,600
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 25,900 25,800 26,000 - 300 26,250 26,100
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 28,000 27,900 28,100 - 100 27,600 27,350
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,050 29,000 29,100 - 50 29,000 29,200
Ex-Durgapur 100x100 mm, IS 2831 26,300 26,200 26,400 - 400 26,800 26,700
Ex-Rourkela 100x100 mm, IS 2831 25,800 25,700 25,900 - 300 26,300 26,000
Ex-Raipur 100x100 mm, IS 2831 26,400 26,300 26,500 - 250 26,550 26,600
Ex-Ahmedabad 100x100 mm, IS 2831 28,100 28,000 28,200 - 300 27,600 27,550
Ex-Mumbai 100x100 mm, IS 2831 28,200 28,100 28,300 - 100 27,800 27,550
Ex-Chennai 100x100 mm, IS 2831 27,150 27,100 27,200 + 150 27,400 28,000
Ex-Hyderabad 100x100 mm, IS 2831 26,500 26,400 26,600 0 26,500 26,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,200 32,000 32,400 - 100 32,400 32,300
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 30,300 30,100 30,500 - 300 31,000 30,800
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 30,800 30,600 30,900 - 100 31,200 30,200
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 30,500 30,400 30,600 - 300 30,700 30,100
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31,300 31,100 31,400 - 200 31,500 31,500
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 31,200 31,100 31,300 + 100 30,600 30,700
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 31,500 31,400 31,700 0 31,700 32,100
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 30,500 30,400 30,600 0 30,500 30,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 30,000 29,800 30,500 - 300 30,700 30,400
Ex-Raipur Wire Rod(5.5 MM) 30,400 30,100 31,200 - 300 30,300 30,000

Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research

1 Oct 2019, 18:23 IST

 

 

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