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Daily Update: Indian Steel Market 13 Sep'19

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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
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	31,100	31,000	32,000	- 400	30,900	30,200