Daily Update: Indian Steel Market 13 Aug'19
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Indian billet prices surged upto INR 1,500/MT (USD 21) today following improved spot trades in major markets.
As per mid sized mills, buying inquiries were quite healthy as traders actively booked material, this led to constant rise in prices since couple of days.
In line rebar prices increased by INR 300-1,800/MT (USD 4-25) & Sponge iron by INR 300-1,000/MT following rally in billet offers.
The major hike in steel prices observed in north, east & central regions, while heavy rains in western & southern India kept demand subdued.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,400-29,900/MT (USD 369-418) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,600-17,500/MT (USD 232-245); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 13th August 2019 (Tuesday) INR to USD exchange rate stood at INR 71.46.
-- ICEX (Indian Commodity Exchange Ltd) Sep'19 contract for STEELLONG today open at INR 27,840/MT & last traded (IST 18:37 hrs) at INR 28,990/MT.
-- BSE Sensex closed at 36,958(-623) on Tuesday, as against last day (Friday) at 37,581(+254).
-- NSE Nifty50 index was closed today at 10,925(-183) & Nifty Metal at 2,355(-42).
Raw Materials
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 160/MT FoB Australia & USD 173.7/MT CNF India.
-- South African RB2 (5500 NAR) coal offers are assessed at USD 48.45/MT on FoB basis & USD 62.97/MT CNF India.
-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 280-290/MT, CFR Nhava Sheva.
-- Melting scrap offers in Western India- Gujarat incline by INR 900/MT in a day trade activities.
Semi Finished
-- Raipur based sponge manufacturers have sharply raised sponge p-dri prices and trades learned at INR 16,500-16,700/MT as against last day at INR 15,700-15,900/MT ex-plant.
-- Jindal Steel has raised pig iron offers and reported steel grade at INR 24,000/MT ex-Raigarh. Similarly in Durgapur where prices increased to INR 24,000-24,500/MT ex-plant.
-- East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 26,500/MT ex-plant as per officials.
-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 16,500-16,700/MT ex-plant & excluding GST.
-- Raigarh based Singhal Steel offered billet at INR 27,300-27,400/MT FoR Raipur, officials reported.
-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at INR 16,500-16,600/MT, ex-plant & excluding GST.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,000/MT ex-Bellary, offers incline by INR 200-300/MT from the last trade; an official reported.
-- BIOP Steels in South India has increased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,600/MT & INR 17,000/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
-- Trade discounts in Raipur wire rod more or less firm at around INR 700-900/MT as base price rallied by more than of INR 1,000/MT in a day and assessed at INR 31,900/MT ex-Raipur & INR 31,000-31,500/MT ex-Durgapur.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at INR 34,000-34,500/MT ex-plant & excluding GST.
-- Raipur, Central India based ERW pipe manufacturers offers reported at INR 32,000-32,500/MT ex-plant & excluding GST.
Rebar (12 mm)
-- Raipur based Real Ispat (GK TMT) is offering at INR 32,400/MT (up by INR 1000/MT).
-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 31,500/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 33,400/MT FoR (up by INR 900/MT).
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 31,600/MT (up by INR 600/MT).
-- Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is currently offering at INR 33,000/MT.
-- Wardha based Sangam TMT is currently offering at INR 30,600/MT.
Note - Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.
Reference prices as on 13th August 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,500 | 22,400 | 22,600 | + 900 | 21,600 | 22,100 |
| Ex-Mumbai | HMS(80:20) | 20,900 | 20,800 | 21,000 | + 300 | 20,800 | 21,100 | |
| Ex-Chennai | HMS(80:20) | 20,400 | 20,200 | 20,600 | + 100 | 20,400 | 20,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,500 | 17,400 | 17,600 | + 1,000 | 16,150 | 17,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | + 400 | 16,100 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | + 500 | 16,800 | 17,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | + 300 | 16,400 | 16,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,500 | 16,400 | 16,600 | + 1,000 | 15,150 | 16,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | + 900 | 15,850 | 16,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,000 | 15,900 | 16,100 | + 300 | 15,900 | 16,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | + 400 | 16,400 | 16,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,800 | 29,700 | 29,900 | + 1,100 | 27,800 | 29,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,900 | 26,800 | 27,000 | + 1,000 | 25,400 | 26,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,100 | 26,000 | 26,200 | + 1,200 | 24,800 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,600 | 26,500 | 26,700 | + 1,100 | 25,350 | 26,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,700 | 27,700 | 27,800 | + 700 | 26,950 | 27,700 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 29,900 | 29,800 | 30,000 | + 1,100 | 28,000 | 30,000 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 27,300 | 27,200 | 27,400 | + 900 | 25,700 | 27,000 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 26,400 | 26,300 | 26,500 | + 1,200 | 25,100 | 26,400 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 27,300 | 27,200 | 27,400 | + 1,300 | 25,700 | 27,200 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 800 | 27,500 | 28,700 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 27,950 | 27,900 | 28,000 | + 650 | 27,250 | 27,900 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 28,700 | 28,600 | 28,700 | + 300 | 28,900 | 29,200 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 27,300 | 27,000 | 27,500 | + 800 | 27,500 | 28,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,300 | 33,200 | 33,500 | + 500 | 33,100 | 34,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,800 | 30,600 | 31,000 | + 1,000 | 29,600 | 31,800 | |
| Ex-Rourkela | 12MM, IS 1786- 415/500 Fe | 30,000 | 29,900 | 30,200 | + 700 | 29,500 | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,500 | 30,700 | + 1,400 | 28,900 | 31,000 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,100 | 31,500 | + 700 | 30,900 | 32,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,800 | 30,600 | 30,900 | + 800 | 30,100 | 31,300 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,100 | 33,000 | 33,300 | + 300 | 33,000 | 33,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,400 | + 400 | 31,500 | 32,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,000 | 30,800 | 31,500 | + 1,000 | 29,600 | 31,300 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,900 | 30,700 | 31,900 | + 1,100 | 29,700 | 32,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
