Daily Update: Indian Steel Market 16 Aug'19
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Indian billet prices fell sharply by INR 300-900/MT with major corrections of INR 800-900/MT (USD 13) in central region due to limited inquiries.
In line with this, rebar & sponge iron prices fell by INR 100-500/MT following free-fall in billet prices.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-28,900/MT (USD 361-407) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,200-17,200/MT (USD 228-242); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 16th August 2019 (Friday) INR to USD exchange rate stood at INR 71.18.
-- ICEX (Indian Commodity Exchange Ltd) Sep'19 contract for STEELLONG today open at INR 27,420/MT & last traded (IST 18:32 hrs) at INR 27,390/MT.
-- BSE Sensex closed at 37,350(+38) on Friday.
-- NSE Nifty50 index was closed today at 11,047(+18) & Nifty Metal at 2,402(-9).
Raw Materials
-- NMDC has kept floor prices for upcoming Karnataka e-auctions unaltered in Aug'19, fines (Fe 63%) base price from Kumaraswamy mines at INR 2,781/MT & Fe 63.8% lump at INR 3,275/MT. All prices mentioned are basic, royalty and other taxes extra.
-- JSPL's crude steel production marginally fell by 3% Q-o-Q to 1.46 MnT in Q1FY'20 in comparison with 1.51 MnT in Q4FY'19 (Jan'19-Mar'19).
-- Orissa Mining Corp auction for 34,200 MT Chrome ore receives good response with entire quantity getting booked at around 6% above the set base price
-- Melting scrap offers in Western India- Gujarat decline by INR 400/MT in a day trade activities.
Semi Finished
-- RINL has invited tender for export of 10,836 MT Billets, 5,418 MT Blooms, 2,709 High Carbon Wire rod Coils and 8,127 MT Wire Rod to Nepal. Interested bidders can submit their bids till 22 Aug'19 at 14:00 hrs.
-- Raipur, Central India based Integrated plants offers decreased by INR 300-400/MT, offering Sponge P-DRI at INR 16,100-16,200/MT ex-plant.
-- In West Bengal - Durgapur, big manufacturers have decreased sponge prices by INR 200-300/MT D-o-D; offering P-DRI at INR 15,800-16,000/MT.
-- Raigarh based Singhal Steel offered billet at INR 26,000-26,100/MT FoR Raipur, officials reported.
-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 16,100-16,300/MT ex-plant & excluding GST.
-- BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 16,700/MT & INR 17,100/MT ex-plant, Karnataka; an official reported.
-- Apple Industries in Bellary (Karnataka) offered Billet at INR 27,800/MT ex-plant.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,100-16,200/MT ex-Bellary, offers decline by INR 200-300/MT from the last trade; an official reported
Wire Rod & Pipe
-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at INR 34,200/MT ex-plant & excluding GST.
-- Raipur, Central India based ERW pipe manufacturers offers reported at INR 31,800-32,300/MT ex-plant & excluding GST.
Rebar (12 mm)
-- Raipur based Real Ispat (GK TMT) is offering at INR 32,400/MT (down by INR 400/MT).
-- Gujarat based, Mono Steel (India) Ltd. (Mono TMT) is current offering at INR 32,900/MT FoR.
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 31,700/MT.
-- Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is current offering at INR 33,000/MT.
-- Chennai based Suryadev Alloys & Power Pvt. Ltd. (Suryadev TMT) is current offering at INR 33,000/MT.
-- South region based Tulsyan NEC Steel (Tulsyan TMT) is current offering at INR 34,000/MT.
Note - Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.
Reference prices as on 16th August 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,200 | 22,100 | 22,300 | - 400 | 21,200 | 22,400 |
| Ex-Mumbai | HMS(80:20) | 20,900 | 20,900 | 21,100 | - 100 | 20,600 | 21,100 | |
| Ex-Chennai | HMS(80:20) | 20,500 | 20,400 | 20,700 | + 100 | 20,300 | 20,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,800 | 16,700 | 16,900 | - 300 | 15,600 | 17,550 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,200 | 16,000 | 16,300 | - 400 | 15,700 | 16,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | - 300 | 16,400 | 17,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | - 100 | 16,300 | 16,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,800 | 15,700 | 15,900 | - 300 | 14,700 | 16,550 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | - 400 | 15,450 | 16,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | - 200 | 15,700 | 16,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | - 100 | 16,200 | 16,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,850 | 28,800 | 28,900 | - 450 | 27,700 | 30,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,800 | 25,700 | 25,900 | - 600 | 25,050 | 26,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,400 | 25,300 | 25,500 | - 700 | 24,400 | 26,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,600 | 25,500 | 25,700 | - 600 | 25,050 | 26,950 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,250 | 27,200 | 27,300 | - 250 | 26,800 | 27,800 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 28,900 | 28,800 | 29,000 | - 500 | 27,800 | 30,100 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 26,400 | 26,300 | 26,500 | - 400 | 25,500 | 27,100 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | - 800 | 24,700 | 26,500 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 25,900 | 25,800 | 26,000 | - 900 | 25,450 | 27,500 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 28,200 | 28,100 | 28,300 | - 500 | 27,600 | 29,200 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | - 300 | 27,200 | 28,000 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | 0 | 28,400 | 29,200 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | - 300 | 26,500 | 28,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,200 | 33,100 | 33,400 | - 100 | 32,500 | 34,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,600 | 30,400 | 30,800 | - 200 | 29,000 | 31,600 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 29,800 | 29,700 | 30,000 | - 400 | 29,200 | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,900 | 29,800 | 30,200 | - 500 | 28,500 | 30,800 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,300 | - 100 | 30,200 | 32,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,800 | 30,600 | 30,900 | 0 | 29,800 | 31,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,800 | 33,200 | - 100 | 33,000 | 33,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,200 | - 200 | 30,500 | 32,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,700 | 30,500 | 30,900 | - 300 | 29,400 | 31,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,200 | 29,800 | 31,800 | - 600 | 29,000 | 32,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
