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Daily Update: Indian Steel Market 10 Jan'20

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By
BigMint Bureau
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10 Jan 2020, 18:36 IST
Daily Update: Indian Steel Market 10 Jan'20

Indian spot steel trade activities remain limited as prices moved down by INR 100-400/MT over subdued demand.

However, participants believe that, prices to soon recover once demand of finished steels find support.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,100-33,300/MT (USD 423-469) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 19,900-21,200/MT (USD 280-299); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 10th January 2020 (Friday) INR to USD exchange rate stood at INR 70.97.

-- ICEX (Indian Commodity Exchange Ltd) Feb'20 contract for STEELLONG today open at INR 32,760/MT & last traded (IST 18:39 hrs) at INR 32,470/MT.

-- BSE Sensex closed at 41,599(+147) on Friday, as against last day (Thursday) at 41,452(+634).

-- NSE Nifty50 index was closed today at 12,256(+40) & Nifty Metal at 2,840(+33).

Raw Material

-- NMDC is going to conduct an e-auction of 12,000 MT calibrated lump ore, 16,000 MT ROM, 28,000 MT iron ore fines and 8,000 MT iron ore lumps. The last date for submitting the required documents is 14 Jan'20.

-- Melting scrap offers in Western India- Gujarat incline by INR 200/MT in a day trade activities.

Semi Finished

-- Indian mid scale mills export offers to Nepal further increase on falling rupee against US dollar and fresh offers reported at around USD 425-427/MT for Billet & USD 490/MT for Wire rod, ex-mill at Durgapur. However, no fresh deals reported.

-- Neo Metaliks in Durgapur has reduced steel grade pig iron price by INR 200/MT to INR 28,300/MT (ex-plant), however no major inquiries, as stated by officials.

-- Jindal Steel has reduced steel grade PIG IRON price by INR 300/MT to INR 30,500/MT ex-Raigarh, Central India.

-- Rashmi Metaliks in Durgapur has slightly lower Sponge P-DRI offers by INR 100/MT to INR 19,700/MT, as per sources.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,200/MT & Billet at INR 30,000/MT ex-plant; an official reported.

-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 19,600/MT ex-plant, However as per officials no major deals due to fluctuating steel prices.

-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 20,600-20,700/MT & Billet at INR 32,700/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,300-19,400/MT ex-Bellary, an official reported.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 20,000/MT & INR 20,500/MT ex-plant, Karnataka; an official reported.

Rebar (12 mm)

-- Rathi Steels based in North region has unchanged their offer at INR 37,900/MT.

-- Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 35,400/MT.

-- Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 36,700/MT.

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) has unchanged their offer at INR 35,200/MT.

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offer at INR 37,000/MT.

-- Wardha based Sangam TMT is current offering at INR 36,000/MT.

Wire Rod

-- Trade discount in Raipur wire rod remains upside and learned at INR 1,500-1,700/MT through the traders, although base price firm at INR 35,700/MT ex-plant. Also, in Durgapur trade reference prices fall by INR 200/MT to INR 34,800-35,300/MT ex-plant.

Reference prices as on 10th January 2020

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 24,500 24,400 24,600 + 200 24,400 21,900
Ex-Mumbai HMS(80:20) 23,100 23,000 23,300 0 23,000 21,300
Ex-Chennai HMS(80:20) 23,900 23,800 24,000 + 100 23,200 21,500
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,600 20,500 20,700 - 100 20,200 17,700
Ex-Rourkela Mix, FeM 80%, +/-1 20,200 20,100 20,300 - 100 19,900 16,550
Ex-Raipur Mix, FeM 80%, +/-1 21,200 21,100 21,300 - 200 20,900 17,500
Ex-Bellary Lumps, FeM 80%, +/-1 19,900 19,800 20,000 + 100 19,500 16,800
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,700 19,600 19,800 - 100 19,300 16,600
Ex-Raipur Lumps, FeM 80%, +/-1 20,400 20,300 20,500 - 200 20,100 16,700
Ex-Bellary Lumps, FeM 80%, +/-1 19,400 19,300 19,500 0 19,300 16,700
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,800 19,700 19,900 0 19,800 17,200
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 32,850 32,800 32,900 - 250 32,500 28,900
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 30,400 30,300 30,500 - 100 30,000 26,600
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 29,600 29,500 29,700 - 150 29,650 25,400
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,200 30,100 30,300 - 400 30,100 25,800
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 32,400 32,300 32,500 - 200 32,200 27,800
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 33,250 33,200 33,300 - 250 33,000 29,200
Ex-Durgapur 100x100 mm, IS 2831 30,800 30,700 30,900 - 200 30,250 26,900
Ex-Rourkela 100x100 mm, IS 2831 30,100 30,000 30,200 - 100 29,900 25,800
Ex-Raipur 100x100 mm, IS 2831 30,650 30,600 30,700 - 350 30,600 26,150
Ex-Ahmedabad 100x100 mm, IS 2831 33,000 32,900 33,100 - 200 32,900 28,700
Ex-Mumbai 100x100 mm, IS 2831 32,700 32,600 32,800 - 200 32,500 28,000
Ex-Chennai 100x100 mm, IS 2831 32,800 32,800 33,000 + 300 32,800 29,000
Ex-Hyderabad 100x100 mm, IS 2831 31,500 31,400 31,600 - 300 31,500 27,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 36,800 36,600 37,000 0 36,200 31,500
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 35,000 34,800 35,200 - 100 34,600 30,600
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 34,500 34,400 34,600 - 200 34,300 29,700
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 34,400 34,300 34,500 - 100 34,200 29,300
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 36,700 36,500 36,900 0 36,300 30,900
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 36,400 36,200 36,600 0 35,800 31,600
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 36,100 35,900 36,300 + 100 36,300 32,300
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 35,200 35,100 35,300 - 100 35,200 31,000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 35,000 34,800 35,300 - 200 34,800 30,700
Ex-Raipur Wire Rod(5.5 MM) 34,700 34,000 35,700 - 100 34,800 29,900

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

10 Jan 2020, 18:36 IST

 

 

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