Daily Update: Indian Steel Market 15 Oct'19
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Indian mid sized steel mills have further raised prices on active trade activities and as per assessment the prices rallied by INR 100-500/MT in major markets.
Participants being stated, better spot trades & lessened stock with the mills, hence the price rise continuous.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,900-29,200/MT (USD 362-408) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,100-16,800/MT (USD 225-235); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 15th October 2019 (Tuesday) INR to USD exchange rate stood at INR 71.50.
-- ICEX (Indian Commodity Exchange Ltd) Nov'19 contract for STEELLONG today open at INR 28,100/MT & last traded (IST 18:11 hrs) at INR 28,190/MT.
-- BSE Sensex closed at 38,506(+291) on Tuesday, as against last day (Monday) at 38,214(+87).
-- NSE Nifty50 index was closed today at 11,428(+87) & Nifty Metal at 2,397(+36).
Key Trades
-- TATA Metaliks Limited (TML) has reduced Foundry pig iron offers by INR 600/MT (USD 8) to INR 29,000/MT (USD 406) ex-plant, Kharagpur, eastern India
-- South African RB2 (5500 NAR) coal offers are assessed at USD 53.44/MT on FoB basis & USD 67.84/MT CNF India. Prices decline by USD 2-3/MT on weekly basis.
-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 246/MT, CFR Nhava Sheva.
-- Rathi Steels based in North region is offering 12 mm Rebar at INR 33,600/MT ( up by INR 400/MT).
-- Rashmi Metaliks in Durgapur has raised sponge P-DRI prices by INR 200-300/MT to INR 15,800-15,900/MT, as per sources.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,400/MT & Billet at INR 25,800/MT ex-plant; an official reported.
-- Raipur based Real Ispat (GK TMT) is offering 12 mm Rebar at INR 32,800/MT ( up by INR 200/MT).
-- Raipur based a major sponge producer has sold about 1,000 ton sponge P-DRI at INR 15,800/MT (ex-plant), up by INR 300/MT day on day.
-- Trade discounts in Raipur Wire rod drop by INR 100/MT to INR 700-800/MT by manufacturers and INR 800-900/MT through the re-sellers. In addition base prices moved up by INR 300/MT to INR 31,300/MT ex-Raipur & by INR 500/MT to INR 30,200-31,000/MT ex-Durgapur.
-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 16,000/MT, ex-plant & excluding GST.
-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is currently offering 12 mm Rebar at INR 31,100/MT.
-- Gujarat based Diamond TMT is current their offering 12 mm Rebar at INR 31,900/MT.
-- Granulated pig iron offers remained firm at INR 22,000-22,200/MT(USD 307-310) ex-plant, Odisha.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,700/MT ex-Bellary, an official reported. And added a deal of 3,000 MT P-DRI concluded for Hindupur region.
-- BIOP Steels in South India has increased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,300/MT & INR 16,600/MT ex-plant, Karnataka; an official reported.
Reference prices as on 15th October 2019
Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
Scrap | Ex-Alang | HMS(80:20) | 21,700 | 21,600 | 21,800 | + 100 | 21,700 | 21,850 |
Ex-Mumbai | HMS(80:20) | 20,600 | 20,400 | 20,700 | + 100 | 20,600 | 21,700 | |
Ex-Chennai | HMS(80:20) | 19,200 | 19,000 | 19,300 | + 100 | 19,200 | 20,300 | |
C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,050 | 17,000 | 17,100 | + 350 | NA | 18,500 |
Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,350 | 16,300 | 16,400 | + 200 | 16,200 | 17,000 | |
Ex-Raipur | Mix, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | + 200 | 17,000 | 17,800 | |
Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | + 100 | 16,400 | 16,900 | |
P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,700 | 15,600 | 15,600 | + 200 | NA | 17,500 |
Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,800 | 15,700 | 15,900 | + 150 | 15,700 | 16,700 | |
Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,700 | 15,600 | 15,800 | 0 | 15,900 | 16,700 | |
Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | 0 | 16,500 | 17,100 | |
Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,150 | 29,100 | 29,200 | + 550 | 28,500 | 29,650 |
Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,300 | 26,200 | 26,400 | + 200 | 25,800 | 27,600 | |
Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,600 | 25,500 | 25,700 | + 250 | 25,200 | 26,500 | |
Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,100 | 26,000 | 26,200 | + 400 | 25,600 | 27,150 | |
Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,700 | 27,600 | 27,800 | + 200 | 27,400 | 27,500 | |
Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 29,300 | 29,200 | 29,400 | + 500 | 28,600 | 29,800 |
Ex-Durgapur | 100x100 mm, IS 2831 | 26,650 | 26,600 | 26,700 | + 250 | 26,100 | 27,900 | |
Ex-Rourkela | 100x100 mm, IS 2831 | 25,950 | 25,900 | 26,000 | + 250 | 25,600 | 27,000 | |
Ex-Raipur | 100x100 mm, IS 2831 | 26,600 | 26,500 | 26,700 | + 450 | 26,100 | 27,700 | |
Ex-Ahmedabad | 100x100 mm, IS 2831 | 28,650 | 28,600 | 28,700 | + 450 | 27,800 | 28,200 | |
Ex-Mumbai | 100x100 mm, IS 2831 | 27,950 | 27,900 | 28,000 | + 200 | 27,600 | 27,700 | |
Ex-Chennai | 100x100 mm, IS 2831 | 27,100 | 27,000 | 27,200 | 0 | 27,200 | 28,000 | |
Ex-Hyderabad | 100x100 mm, IS 2831 | 26,000 | 25,900 | 26,100 | 0 | 26,000 | 27,500 | |
TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,600 | 32,500 | 32,800 | + 400 | 31,800 | 32,900 |
Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,300 | 30,700 | + 500 | NA | 32,100 | |
Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,700 | 30,600 | 30,800 | + 200 | 30,500 | 31,400 | |
Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,100 | 30,000 | 30,200 | + 200 | 30,100 | 31,200 | |
Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,100 | 31,000 | 31,200 | + 200 | 30,800 | 31,800 | |
Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,200 | + 100 | 30,700 | 30,500 | |
Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,100 | 31,500 | 0 | 31,400 | 32,400 | |
Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,800 | 30,100 | 0 | 29,800 | 31,000 | |
Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,300 | 30,200 | 31,000 | + 500 | 29,700 | 31,600 |
Ex-Raipur | Wire Rod(5.5 MM) | 30,600 | 30,400 | 31,300 | + 400 | 30,000 | 31,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research