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Daily Update: Indian Steel Market 15 Oct'19

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15 Oct 2019, 18:17 IST
Daily Update: Indian Steel Market 15 Oct'19

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

15 Oct 2019, 18:17 IST

 

 

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