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Daily Update: Indian Steel Market 13 Sep'19

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BigMint Bureau
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13 Sep 2019, 18:26 IST
Daily Update: Indian Steel Market 13 Sep'19

Indian steel prices slightly down by INR 100-300/MT today amid limited spot trades, as stated by medium scale mills.

Further the sources mentioned that, buyers seem in wait & watch mode as they have booked good volumes when the prices were on rising trend.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,800-29,900/MT (USD 377-421) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,900-18,600/MT (USD 238-262); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 13th September 2019 (Friday) INR to USD exchange rate stood at INR 71.06.

-- ICEX (Indian Commodity Exchange Ltd) Oct'19 contract for STEELLONG today open at INR 28,550/MT & last traded (IST 18:20 hrs) at INR 28,610/MT.

-- BSE Sensex closed at 37,384(+280) on Friday, as against last day (Thursday) at 37,104(-166).

-- NSE Nifty50 index was closed today at 11,075(+93) & Nifty Metal at 2,444(+33).

Key Trades

-- Vizag Steel has concluded wire rod export tender to Nepal for one rake at around USD 430-435/MT, this is equivalent to USD 470/MT CPT Raxaul border, Nepal-Sources.

-- Vizag Steel (RINL) also had concluded the 30,000 MT bloom (IS 2830 grade) export tender at USD 380/MT, FoB and shipment is scheduled on 15 Oct'19. The material offered has specifications - C-0.12-0.23%, Mn - 0.3-1.5%, Si- 0.4% max, P-0.045% max & S-0.045% max.

-- The Chhattisgarh High Court has dismissed the petition of Steel Authority of India Limited's (SAIL's) Bhilai Steel Plant (BSP) seeking price relaxations for 921 hectares of forest land located in Kanker district. The decision was announced on September 5, 2019.

-- Trade discounts in Raipur wire rod slightly up by INR 100/MT to INR 900-1,000/MT, also base prices slash by INR 300/MT to INR 32,000/MT ex-plant. Similarly in Durgapur, where trade reference prices plunged by INR 200/MT to INR 31,300-31,800/MT ex-plant.

-- Durgapur based Rashmi Metaliks has further lowered sponge P-DRI prices by INR 100-200/MT to INR 17,400-17,500/MT, as per sources.

-- Raipur based a major sponge P-DRI producer has received healthy bookings with reduce price by INR 100/MT to INR 16,400-16,500/MT ex-plant.

-- Neo Metaliks in Durgapur has reduced steel grade pig iron prices by INR 300-500/MT to INR 24,000-24,200/MT ex-plant.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 17,000/MT & INR 17,400/MT ex-plant, Karnataka; an official reported.

-- Rathi Steels based in North region is offering 12 mm rebar at around INR 33,800/MT.

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

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 32,300/MT (size-12 mm, ex-plant).

Reference prices as on 13th September 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 21,400 21,300 21,500 - 200 21,400 22,200
Ex-Mumbai HMS(80:20) 21,500 21,400 21,600 0 21,400 20,900
Ex-Chennai HMS(80:20) 20,800 20,700 21,000 - 200 20,300 20,500
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 18,400 18,300 18,500 - 200 18,300 16,800
Ex-Rourkela Mix, FeM 80%, +/-1 16,800 16,700 16,900 - 200 16,600 16,200
Ex-Raipur Mix, FeM 80%, +/-1 17,700 17,600 17,800 - 100 17,300 17,200
Ex-Bellary Lumps, FeM 80%, +/-1 16,900 16,800 17,000 0 16,700 16,600
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 17,400 17,300 17,500 - 200 17,300 15,800
Ex-Raipur Lumps, FeM 80%, +/-1 16,500 16,400 16,600 - 100 16,100 16,100
Ex-Bellary Lumps, FeM 80%, +/-1 16,700 16,600 16,800 0 16,500 16,100
Ex-Hyderabad Lumps, FeM 80%, +/-1 17,100 17,000 17,200 - 100 16,900 16,500
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 29,700 29,600 29,800 - 50 29,700 28,850
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 27,500 27,400 27,600 - 100 27,100 25,800
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 26,300 26,200 26,400 - 100 26,150 25,400
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 27,000 26,900 27,100 + 50 26,600 25,600
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 27,400 27,300 27,500 - 100 27,450 27,250
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,900 29,800 30,000 - 100 29,850 28,900
Ex-Durgapur 100x100 mm, IS 2831 27,800 27,700 27,900 - 100 27,400 26,400
Ex-Rourkela 100x100 mm, IS 2831 26,800 26,700 26,900 - 200 26,600 25,700
Ex-Raipur 100x100 mm, IS 2831 27,550 27,500 27,600 0 27,100 25,900
Ex-Ahmedabad 100x100 mm, IS 2831 27,900 27,800 28,000 - 300 28,150 28,200
Ex-Mumbai 100x100 mm, IS 2831 27,600 27,500 27,700 - 200 27,650 27,500
Ex-Chennai 100x100 mm, IS 2831 27,800 27,700 27,900 - 300 27,800 28,500
Ex-Hyderabad 100x100 mm, IS 2831 27,500 27,400 27,600 0 26,500 27,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,700 32,500 32,900 - 300 32,900 33,200
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 31,800 31,600 32,000 - 300 31,500 30,600
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 31,100 31,000 31,200 - 200 30,700 29,800
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 31,000 30,800 31,200 - 100 30,400 29,900
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31,900 31,700 32,100 - 100 31,500 31,200
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 30,500 30,300 30,700 - 100 30,600 30,800
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 32,100 31,900 32,200 - 200 31,900 33,000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 31,400 31,200 31,500 - 100 30,600 31,000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 31,500 31,300 31,800 - 200 31,000 30,700
Ex-Raipur Wire Rod(5.5 MM) 31,100 31,000 32,000 - 400 30,900 30,200

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

13 Sep 2019, 18:26 IST

 

 

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