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Daily Update: Indian Steel Market 17 Mar'20

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Semi Finished
By
BigMint Bureau
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17 Mar 2020, 18:26 IST
Daily Update: Indian Steel Market 17 Mar'20

Indian spot steel trade activities remain limited as prices moved down by INR 100-600/MT over poor off take in finished products along with strong supply.

As per daily assessment, the Rebar & Billet prices fall by INR 100-600/MT & Sponge iron by INR 200-500/MT in major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,200-30,300/MT (USD 353-408) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 16,600-18,200/MT (USD 223-245); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 17th March 2020 (Tuesday) INR to USD exchange rate stood at INR 74.21.

-- ICEX (Indian Commodity Exchange Ltd) Apr'20 contract for STEELLONG today open at INR 27,730/MT & last traded (IST 18:02 hrs) at INR 27,770/MT.

-- BSE Sensex closed at 30,579(-810) on Tuesday, as against last day (Monday) at 31,390(-2,713).

-- NSE Nifty50 index was closed today at 8,967(-230) & Nifty Metal at 1,710(-20).

Raw Material

-- Serajuddin- Odisha's major merchant iron ore mine has decreased iron ore lump offers by INR 500/MT (USD 7) effective from today (17 Mar'20).

-- JSW Steel (Dolvi) iron ore sourcing from NMDC increased by 8% to 66 rakes (0.25 MnT) in Feb'20 against 61 rakes (0.23 MnT) in Jan'20.

-- Melting scrap offers in Western India- Jalna (Maharashtra) decline by INR 600/MT in a day trade activity.

Semi Finished

-- Induction grade billet export offers slightly drop to USD 355/MT & wire rod offers by USD 7-10/MT to USD 400-405/MT; ex-mill at Durgapur.

-- Neo Metaliks in Durgapur has kept steel grade pig iron price firm at around INR 25,500/MT ex-plant, however no major inquiries, as per officials.

-- Rashmi Metaliks in Durgapur reduces sponge price by INR 300/MT to INR 17,000-17,100/MT, as per sources.

-- Raipur based sponge manufacturers have reduced P-DRI offers by INR 200/MT to INR 17,200-17,300/MT, however no major deals due to competitive offers from Raigarh at INR 17,000-17,100/MT FoR Raipur.

-- Raipur plants sold billet to Jalna, Maharashtra at approx INR 26,700-26,800/MT ex-plant, equivalent to INR 28,200/MT FoR, on advance payment term.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,500-16,600/MT ex-Bellary & around 5,000 MT deals reported in nearby market.

Rebar (12 mm)

-- Rathi Steels based in North region is offering at around INR 33,900/MT.

-- Muzaffarnagar based Sarvottam Rolling Mills Pvt. Ltd.(Paras TMT) is offering at INR 31,500/MT

-- Raipur based Real Ispat (GK TMT) is offering at INR 33,600/MT(down by INR 400/MT).

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 35,300/MT (down by INR 400/MT).

-- Gujarat based Vinayak TMT Pvt. Ltd. is offering at INR 34,900/MT.

-- Chennai based Ponneri Steel Ind. (Triple Power) is offering at INR 35,200/MT.

Wire Rod & Pipe

-- Trade discount in Raipur wire rod assessed at INR 1,000-1,200/MT through traders, also base price drop by INR 400/MT to INR 30,800/MT ex-plant. Price correction being noticed in Durgapur by INR 500/MT to INR 29,900-30,500/MT ex-plant.

-- ERW Pipe Manufacturers have decreased offers by INR 100-300/MT to INR 32,200/MT ex-Raipur, INR 34,500/MT ex-Mandi Gobindgarh & INR 32,500/MT ex-Rourkela

Reference prices as on 17th March 2020

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22,600 22,500 22,700 - 400 24,100 24,100
Ex-Mumbai HMS(80:20) 22,500 22,400 22,600 - 400 23,500 23,100
Ex-Chennai HMS(80:20) 21,900 21,800 22,200 - 100 22,200 21,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,700 17,600 17,800 - 300 19,100 19,600
Ex-Rourkela Mix, FeM 80%, +/-1 16,600 16,500 16,700 - 450 17,950 18,800
Ex-Raipur 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 19,300 19,200 19,400 - 400 20,400 20,600
Ex-Bellary Lumps, FeM 80%, +/-1 16,900 16,800 17,000 - 400 18,000 18,500
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,850 16,800 16,900 - 250 18,100 18,650
Ex-Raipur Lumps, FeM 80%, +/-1 17,200 17,100 17,300 - 300 18,500 18,600
Ex-Bellary Lumps, FeM 80%, +/-1 16,500 16,400 16,600 - 500 17,900 18,400
Ex-Hyderabad Lumps, FeM 80%, +/-1 17,100 17,000 17,200 - 500 18,400 18,900
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 29,400 29,300 29500 - 150 31,300 31,400
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,400 26,300 26,500 - 100 27,950 28,750
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 26,300 26,200 26,400 - 400 27,800 28,100
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,400 26,300 26,500 - 300 28,200 28,500
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 29,200 29,100 29,300 - 100 30,500 30,800
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,600 29,500 29,700 - 200 31,500 31,800
Ex-Durgapur 100x100 mm, IS 2831 26,900 26,800 27,000 - 100 28,500 29,250
Ex-Rourkela 100x100 mm, IS 2831 26,500 26,400 26,600 - 400 28,000 28,600
Ex-Raipur 100x100 mm, IS 2831 26,800 26,700 26,900 - 450 28,600 29,100
Ex-Ahmedabad 100x100 mm, IS 2831 28,900 28,800 29,000 - 200 30,600 31,100
Ex-Mumbai 100x100 mm, IS 2831 29,500 29,400 29,600 - 200 31,000 31,200
Ex-Chennai 100x100 mm, IS 2831 30,300 30,200 30,500 - 100 30,600 30,800
Ex-Hyderabad 100x100 mm, IS 2831 28,000 27,900 28,100 0 29,500 31,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,800 32,600 32,900 - 500 34,500 35,600
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 31,100 30,900 31,300 - 200 32,500 33,400
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 31,300 31,200 31,400 - 400 32,600 33,200
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 31,200 31,000 31,200 - 400 32,600 33,400
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 35,400 35,100 35,500 - 200 36,100 35,900
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 34,200 34,000 34,400 0 35,300 35,100
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 34,800 34,700 35,100 0 34,900 34,900
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 33,000 32,900 33,100 0 34,000 35,100
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 30,000 29,900 30,500 - 500 31,900 32,900
Ex-Raipur Wire Rod(5.5 MM) 30,000 29,700 30,800 - 700 31,900 32,600

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

17 Mar 2020, 18:26 IST

 

 

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