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Daily Update: Indian Steel Market 17 Jan'20

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Semi Finished
By
BigMint Bureau
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17 Jan 2020, 18:29 IST
Daily Update: Indian Steel Market 17 Jan'20

Indian Sponge iron & Billet prices slightly fluctuated by INR 100-300/MT today amid average spot trades.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 29,400-32,800/MT (USD 414-462) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 19,500-20,600/MT (USD 274-290); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 17th January 2020 (Friday) INR to USD exchange rate stood at INR 71.06.

-- ICEX (Indian Commodity Exchange Ltd) Feb'20 contract for STEELLONG today open at INR 32,460/MT & last traded (IST 18:34 hrs) at INR 32,490/MT.

-- BSE Sensex closed at 41,945(+12) on Friday, as against last day (Thursday) at 41,932(+59).

-- NSE Nifty50 index was closed today at 12,352(-3) & Nifty Metal at 2,864(-20).

Raw Material

-- Silicon Manganse (60-14) deals in Raipur assessed at near about INR 67,500-68,000/MT ex-plant.

Semi Finished

-- Induction grade billet export offers more or less firm at around USD 420-423/MT ex-Durgapur, equivalent to USD 445-450/MT CPT Nepal.

-- Jindal Steel has kept steel grade pig iron price firm at INR 29,500/MT ex-plant, Raigarh, Central India.

-- Neo Metaliks has reported deals for steel grade pig iron at around INR 28,000/MT ex-Durgapur.

-- Raipur based sponge P-DRI manufacturers have kept prices unchanged at INR 19,600-19,700/MT ex-plant, however deals majorly learned from Raigarh at INR 19,600/MT on FoR Raipur basis.

-- Billet deals learned at INR 30,000/MT FoR Raipur from Raigarh based manufacturers.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered Billet at INR 29,400-29,500/MT ex-plant.

-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 19,700-19,800/MT, ex-plant & excluding GST

-- BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,500/MT & INR 20,000/MT ex-plant, Karnataka; an official reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,100-19,300/MT ex-Bellary, an official reported.

Rebar (12 mm)

-- Rathi Steels based in North region is offering at INR 37,300/MT (down by INR 400/MT).

-- Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 35,200/MT (up by INR 300/MT).

-- Raipur based Real Ispat (GK TMT) is offering at INR 35,800/MT (down by INR 400/MT).

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 33,900/MT.

-- Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,900/MT.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offer at INR 36,700/MT.

Wire Rod

-- Trade discount in Raipur wire rod drop by INR 200/MT to INR 1,000-1,200/MT along with reduce base price by INR 300/MT to INR 34,500/MT ex-plant. However, in Durgapur trade reference price steady at INR 34,400-35,000/MT ex-plant.

-- ERW Pipe Manufacturers have decreased offers by INR 100-300/MT to INR 34,600-34,800/MT ex-Raipur, INR 37,200/MT ex-Mandi Gobindgarh & INR 35,500/MT ex-Rourkela.

Reference prices as on 17th January 2020

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 24,100 24,000 24,200 0 24,500 22,400
Ex-Mumbai HMS(80:20) 23,100 23,000 23,300 + 100 23,100 21,700
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,400 20,300 20,500 + 100 20,600 18,400
Ex-Rourkela Mix, FeM 80%, +/-1 19,600 19,500 19,700 + 50 20,200 17,500
Ex-Raipur Mix, FeM 80%, +/-1 20,600 20,500 20,700 0 21,200 18,800
Ex-Bellary Lumps, FeM 80%, +/-1 19,500 19,400 19,600 - 100 19,900 17,450
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,500 19,400 19,600 + 100 19,700 17,400
Ex-Raipur Lumps, FeM 80%, +/-1 19,600 19,500 19,700 0 20,400 18,000
Ex-Bellary Lumps, FeM 80%, +/-1 19,200 19,100 19,300 - 50 19,400 17,250
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,700 19,600 19,800 0 19,800 17,700
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 32,200 32,100 32,300 + 100 32,850 30,000
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 30,000 29,900 30,100 + 300 30,400 27,100
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 29,100 29,000 29,200 + 200 29,600 26,400
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 29,500 29,400 29,600 + 150 30,200 27,250
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 32,100 32,000 32,200 - 200 32,400 29,150
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 32,700 32,600 32,800 + 200 33,250 30,500
Ex-Durgapur 100x100 mm, IS 2831 30,500 30,400 30,600 + 250 30,800 27,500
Ex-Rourkela 100x100 mm, IS 2831 29,600 29,500 29,700 + 250 30,100 26,800
Ex-Raipur 100x100 mm, IS 2831 29,900 29,800 30,000 + 100 30,650 27,650
Ex-Ahmedabad 100x100 mm, IS 2831 32,800 32,700 32,900 + 100 33,000 30,000
Ex-Mumbai 100x100 mm, IS 2831 32,400 32,300 32,500 - 200 32,700 29,400
Ex-Hyderabad 100x100 mm, IS 2831 31,300 31,000 31,500 0 31,500 28,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 36,200 36,000 36,400 - 300 36,800 33,000
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 34,300 34,100 34,500 0 35,000 31,400
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 33,900 33,800 34,000 0 34,500 30,600
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 33,600 33,500 33,800 - 200 34,400 30,600
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 36,400 36,200 36,600 - 100 36,700 32,600
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 36,700 36,500 36,900 0 36,400 32,600
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 34,900 34,700 35,000 - 100 35,200 32,000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 34,500 34,400 35,000 0 35,000 31,400
Ex-Raipur Wire Rod(5.5 MM) 33,600 33,300 34,500 - 300 34,700 31,600

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

17 Jan 2020, 18:29 IST

 

 

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