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Daily Update: Indian Steel Market 13 Dec'19

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Semi Finished
By
BigMint Bureau
670 Reads
13 Dec 2019, 18:19 IST
Daily Update: Indian Steel Market 13 Dec'19

Indian Semi-finished steel prices rise marginally amid average trade activities and as per assessment the domestic Billet prices increase by INR 100-300/MT & Sponge iron by INR 100/MT, day-on-day.

In context to rebar, the prices fluctuated by INR 100-200/MT, as per daily assessment made by SteelMint.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-29,200/MT (USD 362-412) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,700/MT (USD 233-250); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 13th December 2019 (Friday) INR to USD exchange rate stood at INR 70.76.

-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 28,800/MT & last traded (IST 18:17 hrs) at INR 28,840/MT.

-- BSE Sensex closed at 41,009(+428) on Friday, as against last day (Thursday) at 40,581(+169).

-- NSE Nifty50 index was closed today at 12,086(+114) & Nifty Metal at 2,626(+57).

Raw Material

-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at USD 270/MT, CFR Nhava Sheva.

Semi Finished

-- Raipur based sponge manufacturers have slightly raised sponge P-DRI price by INR 100/MT to INR 16,700-16,800/MT (ex-plant) on improved buying inquiries, as stated by participants.

-- Rashmi Metaliks in Durgapur has maintained sponge P-DRI price at INR 16,600-16,700/MT, as per sources.

-- Electrosteels in Bokaro, Jharkhand has slightly raised steel grade pig iron price by INR 100/MT to INR 23,500/MT ex-plant.

-- Rashtriya Ispat Nigam Limited (RINL)- state-owned steel maker under the Ministry of Steel, has issued spot sales notice for export of 50,000 MT Bloom.

-- SAIL has schedule an auction to sale of about 2,500 MT basic grades Pig iron on 18th Dec'19 from its Rourkela Steel Plant (RSP).

-- Billet deals learned at around INR 26,200/MT FoR Raipur from Raigarh based manufacturers.

-- BIOP Steels in South India has offered sponge C-DRI FeM 80 & 82 C-DRI lumps at INR 16,800/MT & INR 17,200/MT ex-plant, Karnataka; an official reported. And added a deal of around 300-400 MT sponge C-DRI for Hyderabad.

-- Bellary based Sponge manufacturer sold around 1,000 MT sponge fines (76 FeM) at INR 14,500/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,700-16,800/MT ex-Bellary, an official reported. And added a deal of around 1,500-2,000 MT P-DRI concluded for local market.

Rebar (12 mm)

-- Rathi Steels based in North region is current offering at INR 32,600/MT.

-- Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 31,800/MT.

-- Odisha based Subhlabh TMT offers reported at INR 29,700/MT

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 31,200/MT (down by INR 100/MT).

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 31,300/MT.

-- Wardha based Sangam TMT is current offering at INR 29,800/MT.

-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offer at INR 32,500/MT FoR.

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod drop by INR 200/MT to INR 1,300-1,500/MT through the traders, however base prices remained steady at INR 31,000/MT (ex-plant) by mills. Meanwhile in Durgapur trade reference prices up by INR 200/MT to INR 30,600-31,000/MT ex-plant.

-- ERW Pipe Manufacturers in North, East & Central India have kept their offers unaltered in a day trade activities. Offers reported at INR 30,500-30,600/MT ex-Raipur, INR 33,500/MT ex-Gobindgarh & INR 30,500/MT ex-Rourkela.

Reference prices as on 13th December 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 21,900 21,800 22,000 0 21,900 22,400
Ex-Mumbai HMS(80:20) 21,300 21,200 21,400 0 21,400 21,700
Ex-Chennai HMS(80:20) 21,500 21,300 21,600 + 100 20,900 20,300
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,700 17,600 17,800 0 18,000 18,100
Ex-Rourkela Mix, FeM 80%, +/-1 16,550 16,500 16,600 0 16,550 16,750
Ex-Raipur Mix, FeM 80%, +/-1 17,500 17,400 17,600 + 100 17,500 17,600
Ex-Bellary Lumps, FeM 80%, +/-1 16,800 16,700 16,900 + 100 16,900 16,900
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,600 16,500 16,700 - 100 17,000 17,050
Ex-Raipur Lumps, FeM 80%, +/-1 16,700 16,600 16,800 + 100 16,500 16,700
Ex-Bellary Lumps, FeM 80%, +/-1 16,700 16,600 16,800 0 16,800 16,600
Ex-Hyderabad Lumps, FeM 80%, +/-1 17,200 17,100 17,300 0 17,250 17,150
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 28,900 28,800 29,000 + 300 28,800 28,650
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,600 26,500 26,700 + 100 26,700 26,600
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,400 25,300 25,500 + 200 25,300 25,600
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 25,800 25,700 25,900 + 50 25,900 25,850
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 27,800 27,700 27,900 + 200 27,800 27,800
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,200 29,100 29,200 + 300 29,150 29,000
Ex-Durgapur 100x100 mm, IS 2831 26,900 26,800 27,000 + 150 26,900 26,900
Ex-Rourkela 100x100 mm, IS 2831 25,800 25,700 28,900 + 250 25,700 25,950
Ex-Raipur 100x100 mm, IS 2831 26,150 26,100 26,200 + 50 26,150 26,150
Ex-Ahmedabad 100x100 mm, IS 2831 28,700 28,600 28,800 + 50 28,700 28,650
Ex-Mumbai 100x100 mm, IS 2831 28,000 27,900 28,100 + 150 28,100 28,000
Ex-Chennai 100x100 mm, IS 2831 29,000 28,800 29,100 + 300 28,500 28,200
Ex-Hyderabad 100x100 mm, IS 2831 27,500 27,400 27,600 0 27,500 28,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 31,500 31,300 31,600 - 200 31,700 32,800
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 30,600 30,400 30,800 - 200 30,900 31,000
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 29,700 29,600 29,800 0 29,900 30,200
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 29,300 29,200 29,400 0 29,400 30,000
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 30,900 30,800 31,100 0 31,000 31,700
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 31,600 31,400 31,800 0 31,700 31,600
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 32,300 32,100 32,500 + 200 31,900 32,000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 31,000 30,900 31,100 0 31,000 31,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 30,700 30,600 31,000 + 200 30,800 30,700
Ex-Raipur Wire Rod(5.5 MM) 29,900 29,500 31,000 + 200 30,000 30,600

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

13 Dec 2019, 18:19 IST

 

 

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