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Daily Update: Indian Steel Market 10 Sep'19

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BigMint Bureau

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10 Sep 2019, 18:37 IST

Daily Update: Indian Steel Market 10 Sep'19

Indian sponge iron & Billet prices slightly fluctuated by INR 100-200/MT today amid average spot trades.

However rebar prices have raised through the mid sized mills by INR 100-500/MT and majorly in Maharashtra & Hyderabad by INR 300-500/MT, day on day.

As per participants, trades are active, hence prices should remained strong, in addition inventories are also lessened with the most of standalone mills.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 27,100-30,300/MT (USD 376-421) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,900-18,600/MT (USD 235-259); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 10th September 2019 (Tuesday) INR to USD exchange rate stood at INR 71.92.

-- ICEX (Indian Commodity Exchange Ltd) Oct'19 contract for STEELLONG today open at INR 29,090/MT & last traded (IST 18:30 hrs) at INR 29,040/MT.

Key Trades

-- Neo Metaliks in Durgapur has raised pig iron prices and reported steel grade material at INR 24,400-24,500/MT ex-plant.

-- Foundry grade pig iron offers dropped in northern India and assessed at INR 30,000/MT FoR Ludhiana & INR 29,400-29,600/MT in Delhi.

-- JSW Steel, India's largest private steel producer has increased its gas based DRI (sponge iron) offers by around INR 750/MT (USD 11) to INR 18,250/MT for Sep'19 deliveries, SteelMint learned from trade participants.

-- Raipur based major sponge P-DRI producers have maintained offers firm as there was healthy deals yesterday at INR 16,200-16,400/MT ex-plant.

-- Durgapur based Rashmi Metaliks has kept offers firm for Sponge P-DRI at around INR 17,600-17,700/MT, as per sources.

-- Raigarh based Singhal Steel offered billet at INR 27,600/MT FoR Raipur, officials reported.

-- South India based price trend setter in sponge market i.e. BMM Ispat have increased sponge prices today over less availability of raw materials.

-- BIOP Steels in South India has increased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 17,000/MT & INR 17,400/MT ex-plant, Karnataka; an official reported.

-- Trade discounts in Raipur wire rod firm at INR 800-1,000/MT along with steady base price at INR 32,500/MT ex-plant. Similarly in Durgaupr where trade reference prices unaltered at INR 31,600-32,000/MT ex-plant.

-- Rathi Steels based in North region is current offering 12 mm rebar at around INR 34,300/MT.

-- Raigarh based Scan Group branding (Shrishti TMT) is offering 12 mm rebar at INR 31,800/MT(up by INR 100/MT).

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is current offering 12 mm rebar at INR 32,200/MT (up by INR 300/MT)

-- Wardha based Sangam TMT is currently offering 12 mm rebar at INR 31,600/MT.

Reference prices as on 10th September 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	21,000	22,500
	Ex-Mumbai	HMS(80:20)	21,500	21,400	21,600	+ 100	21,400	20,900
	Ex-Chennai	HMS(80:20)	20,600	20,500	20,700	+ 100	20,300	20,400
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	18,600	18,500	18,700	0	17,800	17,500
	Ex-Rourkela	Mix, FeM 80%, +/-1	17,000	16,900	17,000	+ 100	16,300	16,600
	Ex-Raipur	Mix, FeM 80%, +/-1	17,600	17,500	17,700	0	17,200	17,500
	Ex-Bellary	Lumps, FeM 80%, +/-1	16,900	16,800	17,000	+ 200	16,600	16,600
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	17,600	17,500	17,700	0	16,800	16,500
	Ex-Raipur	Lumps, FeM 80%, +/-1	16,400	16,300	16,500	0	15,850	16,600
	Ex-Bellary	Lumps, FeM 80%, +/-1	16,600	16,500	16,700	+ 100	16,300	16,000
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	17,000	17,000	17,100	+ 100	16,700	16,500
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	30,150	30,100	30,200	- 150	28,950	29,800
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	27,700	27,600	27,800	- 100	26,400	26,900
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	26,500	26,400	26,600	- 50	25,600	26,100
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	26,900	26,800	27,000	- 150	26,100	26,600
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	27,600	27,500	27,700	+ 100	27,350	27,700
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	30,300	30,200	30,400	- 200	29,200	29,900
	Ex-Durgapur	100x100 mm, IS 2831	28,000	27,900	28,100	0	26,700	27,300
	Ex-Rourkela	100x100 mm, IS 2831	27,100	27,000	27,200	+ 100	26,000	26,400
	Ex-Raipur	100x100 mm, IS 2831	27,500	27,400	27,600	- 150	26,600	27,300
	Ex-Ahmedabad	100x100 mm, IS 2831	28,300	28,200	28,400	- 200	27,550	28,600
	Ex-Mumbai	100x100 mm, IS 2831	27,900	27,800	28,000	+ 200	27,550	27,950
	Ex-Chennai	100x100 mm, IS 2831	28,000	27,900	28,100	+ 150	28,000	28,700
	Ex-Hyderabad	100x100 mm, IS 2831	27,500	27,400	27,600	0	26,500	27,300
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	33,200	33,000	33,400	0	32,300	33,300
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	32,000	31,800	32,200	0	30,800	30,800
	Ex-Rourkela	12-25 MM, IS 1786- 500 Fe	31,300	31,200	31,400	+ 400	30,200	30,000
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	31,000	30,800	31,200	+ 100	30,100	30,500
	Ex-Jalna	12-25 MM, IS 1786- 500 Fe	32,100	32,000	32,200	+ 500	31,500	31,300
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	30,800	30,600	31,000	+ 200	30,700	30,800
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	32,300	32,100	32,500	+ 300	32,100	33,100
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	31,500	31,300	31,100	+ 500	30,500	31,200
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	31,800	31,600	32,000	0	30,400	31,000
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	31,700	31,500	32,500	0	30,000	30,900