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Daily Update: Indian Steel Market 19 Mar'20

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BigMint Bureau
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19 Mar 2020, 18:26 IST
Daily Update: Indian Steel Market 19 Mar'20

Indian spot steel trade activities remain limited as prices moved down by INR 100-600/MT day on day, along with rising inventories among mid sized plants.

As per daily assessment, the Rebar & Billet prices fall by INR 100-600/MT & Sponge iron by INR 100-300/MT in major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,800-30,100/MT (USD 343-400) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,600/MT (USD 219-234); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 19th March 2020 (Thursday) INR to USD exchange rate stood at INR 75.17.

-- ICEX (Indian Commodity Exchange Ltd) Apr'20 contract for STEELLONG today open at INR 27,790/MT & last traded (IST 18:21 hrs) at INR 27,880/MT.

-- BSE Sensex closed at 28,288(-581) on Thursday, as against last day (Wednesday) at 28,869(-1,709).

-- NSE Nifty50 index was closed today at 8,263(-205) & Nifty Metal at 1,576(-88).

Key Trades

-- Indian mid scale mills export offers to Nepal stands at USD 348-350/MT for Billet & USD 395-398/MT for Wire rod; ex-mill at Durgapur. Inquiries remained limited, as stated by participants.

-- Indian sponge iron export offers fall by USD 10-15/MT and assessed at USD 255-260/MT CPT Benapole (dry port of India & Bangladesh), equivalent to USD 275/MT CFR Chittagong, Bangladesh.

-- Jharkhand, Bokaro based plant has sold about 2,000 MT steel grade pig iron at around INR 25,000/MT (ex-plant) in last couple of days, however now buying inquiries at less price range, as per officials.

-- Raipur based sponge manufacturers have kept offers firm at INR 16,800-17,000/MT, however buying interest learned at near to INR 16,500-16,700/MT ex-plant.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,500/MT & Billet at INR 25,800/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,000-16,100/MT ex-Bellary & around 5,000-6,000 MT deals reported in nearby market.

-- Muzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 31,200/MT.

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is current offering at INR 35,700/MT.

-- Gujarat based Diamond TMT is current offering at INR 34,600/MT.

-- Chennai based Ponneri Steel Ind. (Triple Power) is currently offering at INR 35,000/MT.

-- South region based Prakash Ferrous Ind. Pvt. Ltd (Tirumala) is currently offering at INR 36,500/MT.

-- Chennai based ARS Steel (ARS 550 D TMT) is current offering at INR 38,000/MT.

-- Trade discount in Raipur wire rod assessed at INR 1,100-1,300/MT through traders. Also base price drop by INR 500/MT to INR 30,300/MT ex-Raipur & by INR 400/MT to INR 29,400-30,000/MT ex-Durgapur.

-- ERW Pipe Manufacturers have decreased offers by INR 200/MT to INR 31,800/MT ex-Raipur, INR 34,300/MT ex-Mandi Gobindgarh & INR 32,000/MT ex-Rourkela.

Reference prices as on 19th March 2020

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22,900 22,800 23,000 0 23,800 23,700
Ex-Mumbai HMS(80:20) 22,600 22,500 22,800 0 23,400 23,300
Ex-Chennai HMS(80:20) 21,800 21,700 22,000 - 100 22,200 21,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,300 17,200 17,400 - 200 18,800 19,500
Ex-Rourkela Mix, FeM 80%, +/-1 16,500 16,400 16,600 - 100 17,700 18,700
Ex-Raipur Mix, FeM 80%, +/-1 17,600 17,500 17,700 - 300 19,100 19,500
Ex-Bellary Lumps, FeM 80%, +/-1 16,500 16,400 16,600 - 200 17,800 18,400
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,400 16,300 16,500 - 250 17,850 18,550
Ex-Raipur Lumps, FeM 80%, +/-1 16,700 16,600 16,800 - 200 18,300 18,600
Ex-Bellary Lumps, FeM 80%, +/-1 16,100 16,000 16,200 - 300 17,600 18,300
Ex-Hyderabad Lumps, FeM 80%, +/-1 17,000 16,900 17,100 0 18,100 18,900
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 29,500 29,400 29,600 + 150 30,650 31,450
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,000 25,900 26,100 - 300 27,500 28,650
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,700 25,600 25,800 - 300 27,250 28,000
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 25,950 25,900 26,000 - 200 27,800 28,550
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 28,500 28,400 28,600 - 400 30,000 30,500
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,700 29,600 29,800 + 200 30,900 31,800
Ex-Durgapur 100x100 mm, IS 2831 26,500 26,400 26,600 - 200 28,000 29,150
Ex-Rourkela 100x100 mm, IS 2831 25,900 25,800 26,000 - 300 27,550 28,400
Ex-Raipur 100x100 mm, IS 2831 26,450 26,400 26,500 - 100 28,200 29,100
Ex-Ahmedabad 100x100 mm, IS 2831 28,600 28,500 28,700 - 200 30,100 30,900
Ex-Mumbai 100x100 mm, IS 2831 29,000 28,900 29,100 - 400 30,400 30,900
Ex-Chennai 100x100 mm, IS 2831 30,100 29,900 30,200 - 200 30,600 30,450
Ex-Hyderabad 100x100 mm, IS 2831 28,000 27,900 28,100 0 29,500 30,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,800 32,600 33,000 - 100 34,100 35,400
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 30,500 30,300 30,700 - 300 32,100 33,000
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 30,900 30,800 31,000 - 300 32,200 33,000
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 30,800 30,600 30,900 - 400 32,300 33,200
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 35,300 35,100 35,500 - 100 36,100 35,700
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 33,700 33,500 33,900 - 500 35,300 35,100
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 34,700 34,500 34,900 - 100 34,800 34,800
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 32,500 32,400 32,600 - 500 34,000 34,700
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 29,600 29,500 30,000 - 400 31,500 32,600
Ex-Raipur Wire Rod(5.5 MM) 29,400 29,000 30,300 - 400 31,500 32,300

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

19 Mar 2020, 18:26 IST

 

 

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