Daily Update: Indian Steel Market 13 Feb'20
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Indian steel prices drop on account of limited spot trades with the mid sized mills. On daily assessment, the Rebar & Sponge iron prices plunged by INR 100-200/MT & Billet by INR 100-300/MT.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 28,000-31,400/MT (USD 392-440) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,500-19,400/MT (USD 259-272); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 13th February 2020 (Thursday) INR to USD exchange rate stood at INR 71.30.
-- ICEX (Indian Commodity Exchange Ltd) Mar'20 contract for STEELLONG today open at INR 31,520/MT & last traded (IST 18:15 hrs) at INR 31,600/MT.
-- BSE Sensex closed at 41,459(-106) on Thursday, as against last day (Wednesday) at 41,565(+349).
-- NSE Nifty50 index was closed today at 12,174(-26) & Nifty Metal at 2,651(-16).
Raw Material
-- Rungta Mines iron ore dispatch recorded at 2.37 MnT in Jan'20, down 14% as against 2.75 MnT a month ago.
-- KIOCL has concluded two pellet export deal for 50,000 MT each pellets consisting of Fe 64% content with less than 2% alumina at around USD 111.5/MT /MT, FoB India- Sources.
Semi Finished
-- Induction grade billet export offers more or less firm today at USD 400/MT ex-mill at Durgapur, equivalent to USD 425/MT CPT Benapole, Nepal, via road delivery.
-- Indian sponge iron (80 FeM, 100% lump) export offers drop by USD 5-10/MT W-o-W and stood at around USD 285-290/MT CPT Benapole (dry port of India & Bangladesh), equivalent to USD 300-305/MT CFR Chittagong, Bangladesh.
-- SAIL's Rourkela Steel Plant tender held today (13th Feb'20) to sell about 2,450 MT steel grade pig iron & had received weak response. The base price for the tender was quoted by RSP at INR 30,300/MT and 100% material remained unsold.
-- Rashmi Metaliks has kept Sponge P-DRI offers steady at INR 18,500-18,600/MT ex-plant, as per sources.
-- Raipur based manufacturers have roll-over Sponge P-DRI price at INR 18,500-18,600/MT, however buying inquiries reported at near to INR 18,300-18,400/MT; ex-plant.
-- Raigarh based Singhal Steel offered P-DRI at INR 17,800-17,900/MT & Billet at INR 28,200/MT ex-Raigarh, officials reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 19,400-19,500/MT & Billet at INR 30,200/MT ex-plant.
-- BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 18,500/MT & INR 18,900/MT ex-plant, Karnataka; an official reported.
-- BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 18,600/MT ex-Bellary, Karnataka.
Rebar (12 mm)
-- Rathi Steels based in North region has unchanged their offer at INR 36,100/MT.
-- Muzaffarnagar based Sarvottam Rolling Mills Pvt. Ltd.(Paras TMT) is current offering at INR 34,000/MT.
-- Raipur based Real Ispat (GK TMT) is offering at INR 34,900/MT (down by INR 200/MT).
-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 33,000/MT (down by INR 200/MT).
-- Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,000/MT.
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is current offering at INR 35,000/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 37,100/MT FoR.
Wire Rod & Pipe
-- Traders in Raipur have offered Wire rod at around INR 31,800/MT, meanwhile plants offers were at INR 32,300/MT, ex-works. Also in Durgapur trade reference price drop by INR 200/MT to 32,400-32,800/MT ex-plant.
-- ERW Pipe Manufacturers have decreased offers by INR 300-400/MT to INR 33,400/MT ex-Raipur, INR 36,200/MT ex-Mandi Gobindgarh & INR 33,700/MT ex-Rourkela.
Reference prices as on 13th February 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,200 | 23,100 | 23,300 | + 100 | 23,800 | 24,100 |
| Ex-Mumbai | HMS(80:20) | 22,400 | 22,300 | 22,600 | 0 | 22,700 | 23,000 | |
| Ex-Chennai | HMS(80:20) | 21,600 | 21,500 | 21,800 | - 200 | 22,300 | NA | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,400 | 19,300 | 19,500 | - 50 | 20,100 | 20,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | - 150 | 19,300 | 19,550 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,350 | 19,300 | 19,400 | - 150 | 20,100 | 20,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | - 200 | 18,600 | 19,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,400 | 18,300 | 18,500 | - 50 | 19,200 | 19,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | - 100 | 19,200 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | - 100 | 18,700 | 19,250 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | - 100 | 19,000 | 19,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | - 100 | 31,700 | 32,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,500 | 28,400 | 28,600 | - 200 | 29,500 | 29,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,800 | 27,700 | 27,900 | - 200 | 28,550 | 28,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,300 | 28,200 | 28,400 | - 50 | 29,100 | 29,350 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 29,700 | 29,600 | 29,800 | - 100 | 30,700 | 32,300 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | - 50 | 32,200 | 32,500 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 29,000 | 28,900 | 29,100 | - 200 | 30,000 | 30,250 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 28,000 | 27,900 | 28,100 | - 300 | 29,100 | 29,350 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 28,700 | 28,600 | 28,800 | - 150 | 29,700 | 29,800 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 30,300 | 30,200 | 30,400 | 0 | 31,200 | 32,700 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 30,100 | 30,000 | 30,200 | - 100 | 31,000 | 32,600 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 30,700 | 30,600 | 30,800 | 0 | 30,700 | 32,500 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | 0 | 31,000 | 31,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,000 | 34,700 | 35,100 | 0 | 35,900 | 36,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 33,100 | 32,900 | 33,300 | - 100 | 34,100 | 34,300 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,900 | 33,100 | - 200 | 33,500 | 33,900 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 32,600 | 32,500 | 32,700 | 0 | 33,300 | 33,800 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 34,800 | 34,500 | 34,900 | - 200 | 35,900 | 36,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 34,300 | 34,100 | 34,500 | 0 | 34,900 | 36,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,300 | 35,200 | 35,600 | 0 | 35,500 | 36,100 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,200 | 34,100 | 34,300 | 0 | 34,900 | 35,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 32,500 | 32,400 | 32,800 | - 200 | 33,800 | 34,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,100 | 31,800 | 32,300 | - 100 | 33,000 | 33,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
