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Daily Update: Indian Steel Market 17 Feb'20

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Semi Finished
By
BigMint Bureau
1002 Reads
17 Feb 2020, 18:27 IST
Daily Update: Indian Steel Market 17 Feb'20

Indian Semi-finished steel prices rise marginally amid average trade activities and as per assessment the domestic Billet prices increase by INR 100-400/MT & Sponge iron by INR 100-200/MT, day-on-day.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 28,800-32,200/MT (USD 403-451) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,500-19,800/MT (USD 259-277); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 17th February 2020 (Monday) INR to USD exchange rate stood at INR 71.37.

-- ICEX (Indian Commodity Exchange Ltd) Mar'20 contract for STEELLONG today open at INR 31,940/MT & last traded (IST 18:23 hrs) at INR 31,840/MT.

-- BSE Sensex closed at 41,055(-202) on Monday, as against last day (Friday) at 41,257(-202).

-- NSE Nifty50 index was closed today at 12,045(-67) & Nifty Metal at 2,586(-26).

Raw Material

-- Karnataka based sponge & Pellet manufacturer- BMM Ispat has sold about 15,000 MT pellets in local market at around INR 7,100/MT (ex-plant).

Semi Finished

-- SAIL's Bhilai Steel Plant (BSP) is offering pig iron at INR 28,200/MT ex-plant, Bhilai, Central India.

-- Jindal Steel is offering steel grade pig iron at around INR 28,500/MT ex-plant, Raigarh.

-- Rashmi Metaliks in Durgapur has raised Sponge P-DRI price by INR 100-200/MT to INR 18,900-19,000/MT, as per sources.

-- Steel grade pig iron prices through the private mills in Durgapur have increased by INR 200/MT to INR 27,500-28,000/MT ex-plant on account of increasing billet price.

-- Raipur based sponge manufacturers have raised P-DRI offers by INR 100/MT to INR 18,900/MT ex-plant and as per sources about 2,000-3,000 MT deals concluded at around Rs 18,900/MT on ex-plant & FoR Raipur basis from Raigarh.

-- Raipur based mills sourcing Sponge C-DRI from Raigarh at around INR 19,900/MT FoR Raipur.

-- Billet deals learned at INR 29,600/MT FoR Raipur from Raigarh based manufacturers.

-- Odisha based sponge manufacturer has sold around 1,000 MT FeM 80 C-DRI lumps to Jalna (Maharashtra) at around INR 21,400/MT FoR Jalna.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,300-18,500/MT ex-Bellary & around 10,000 MT deals reported in nearby market.

Rebar (12 mm)

-- Rathi Steels based in North region is offering around INR 36,800/MT.

-- Rebar Guage parity in Raipur have increased by INR 500/MT to INR 3,000/MT for (10-25 mm) & INR 4,000/MT for (8/28/32 mm), w.e.f. 17th Feb'20.

-- Raipur based Real Ispat (GK TMT) is current offering at INR 35,500/MT.

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 33,700/MT.

-- Raigarh based Scan Group branding (Shrishti TMT) is current offering at INR 33,800/MT.

-- Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,200-33,300/MT.

-- Jalna based Kalika Steels Alloys Pvt. Ltd.(Kalika TMT) has unchanged their offer at INR 35,500/MT.

-- Gujarat based Diamond TMT is current offering at INR 37,100/MT.

Wire Rod & Pipe

-- Wire rod offers by traders in Raipur assessed at INR 32,500-32,700/MT, however by mills it traded at around INR 32,800/MT, ex-works. Also in Durgapur trade reference prices up by INR 400/MT to INR 33,000-33,500/MT ex-plant.

-- ERW Pipe Manufacturers have increased offers by INR 200-400/MT to INR 34,200/MT ex-Raipur, INR 36,600/MT ex-Mandi Gobindgarh & INR 34,000/MT ex-Rourkela.

Reference prices as on 17th February 2020

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 24,100 24,000 24,200 + 100 23,400 24,000
Ex-Mumbai HMS(80:20) 22,700 22,600 22,800 + 100 22,500 23,100
Ex-Chennai HMS(80:20) 21,700 21,500 21,800 + 100 22,000 23,900
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,800 19,700 19,900 + 100 19,800 20,300
Ex-Rourkela Mix, FeM 80%, +/-1 19,100 19,000 19,200 + 100 18,900 19,300
Ex-Raipur Mix, FeM 80%, +/-1 19,800 19,700 19,900 + 100 19,800 20,400
Ex-Bellary Lumps, FeM 80%, +/-1 18,500 18,400 18,600 0 19,000 19,400
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,900 18,800 19,000 + 100 18,900 19,400
Ex-Raipur Lumps, FeM 80%, +/-1 18,900 18,800 19,000 + 100 18,800 19,400
Ex-Bellary Lumps, FeM 80%, +/-1 18,400 18,300 18,500 - 100 19,000 19,000
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,000 18,900 19,100 0 19,400 19,600
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 31,750 31,700 31,800 + 100 31,300 31,700
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 29,150 29,100 29,200 + 150 29,100 29,600
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 28,400 28,300 28,500 + 100 28,200 28,500
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 28,900 28,800 29,000 + 100 28,700 28,800
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 30,800 30,700 30,900 + 300 30,100 31,400
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 32,200 32,100 32,300 + 100 31,800 32,200
Ex-Durgapur 100x100 mm, IS 2831 29,650 29,600 29,700 + 150 29,600 30,200
Ex-Rourkela 100x100 mm, IS 2831 28,800 28,700 28,900 + 200 28,600 29,000
Ex-Raipur 100x100 mm, IS 2831 29,450 29,400 29,500 + 200 29,200 29,300
Ex-Ahmedabad 100x100 mm, IS 2831 31,500 31,400 31,600 0 30,700 32,500
Ex-Mumbai 100x100 mm, IS 2831 31,200 31,100 31,300 + 400 30,400 31,700
Ex-Chennai 100x100 mm, IS 2831 30,900 30,800 31,000 + 200 31,000 32,500
Ex-Hyderabad 100x100 mm, IS 2831 31,000 30,900 31,100 0 31,000 31,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 35,800 35,600 36,000 + 300 35,600 35,900
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 33,500 33,300 33,700 + 300 33,700 34,300
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 33,200 33,100 33,300 0 33,500 33,500
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 33,000 32,900 33,100 0 33,100 33,300
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 35,400 35,200 35,500 0 35,300 36,000
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 35,100 34,900 35,300 + 200 34,700 36,400
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 35,100 34,900 35,300 0 35,500 36,000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 35,000 34,900 35,100 + 300 34,700 34,700
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 33,200 33,000 33,500 + 400 33,200 34,100
Ex-Raipur Wire Rod(5.5 MM) 32,800 32,600 33,000 + 300 32,700 33,300

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

17 Feb 2020, 18:27 IST

 

 

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