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Daily Update: Indian Steel Market 18 Dec'19

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18 Dec 2019, 18:25 IST

Daily Update: Indian Steel Market 18 Dec'19

Indian mid sized mills have further raised prices on active trade activities and as per assessment the prices rallied by INR 100-500/MT D-o-D.

As per daily assessment, the Rebar & Billet prices surge by INR 100-500/MT & while Sponge iron by INR 200-400/MT in major markets of Central, East, North & Western India.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,600-29,800/MT (USD 374-420) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,200-18,500/MT (USD 242-261); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 18th December 2019 (Wednesday) INR to USD exchange rate stood at INR 70.98.

-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 29,260/MT & last traded (IST 18:21 hrs) at INR 29,280/MT.

-- BSE Sensex closed at 41,558(+206) on Wednesday, as against last day (Tuesday) at 41,352(+413)

-- NSE Nifty50 index was closed today at 12,224(+59) & Nifty Metal at 2,685(+19).

Key Trades

-- Pellet offers in Durgapur increases by INR 300/MT to INR 6,500/MT (Fe 63%).

-- Silicon Manganese (60-14) deals in Raipur assessed at near about INR 59,500-60,000/MT ex-plant.

-- Induction grade billet export deals to Nepal learned at around USD 400/MT CPT Nepal.

-- Neo Metails in Durgapur has further raised steel grade pig iron price by INR 200-300/MT to INR 24,700-24,800/MT ex-plant.

-- Electro Steels has reported surge in steel grade pig iron offers by INR 200/MT to INR 24,000/MT ex-Bokaro, Jharkhand.

-- SAIL's Rourkela Steel Plant tender held today (18th Dec'19) to sell about 2,500 MT steel grade pig iron; had received good response as total allotted quantity have been sold out on increase bid price by INR 750-900/MT to INR 24,250-24,400/MT ex-plant.

-- Raipur based sponge P-DRI manufacturers have raised prices by INR 200/MT to INR 17,600/MT ex-plant, however no major deals due to competitive offers from Raigarh & healthy deals in last couple of days.

-- Raigarh based Singhal Steel offered P-DRI at INR 17,600-17,700/MT & Billet at INR 27,300/MT FoR-Raipur, officials reported.

-- Odisha based manufacturer, Ganesh Metaliks has offered Billet at INR 26,500/MT ex-plant & around 1,000 MT deals reported for Patna (Bihar) market.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,300/MT ex-plant.

-- Odisha based sponge supplier sold around 500-600 MT FeM 80 C-DRI lumps at around INR 19,600/MT FoR Jalna (Maharashtra).

-- Rashmi Metaliks in Durgapur has increased sponge P-DRI price by INR 300/MT to INR 17,500/MT, as per sources.

-- BIOP Steels in Karnataka, South India has offered sponge C-DRI lumps at INR 17,200/MT (FeM 80) & INR 17,600/MT (FeM 82) ex-plant and around 600 MT sponge C-DRI (FeM 80) deals reported for Silvasa a day before at INR 17,000/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,000-17,100/MT ex-Bellary & around 5,000 MT deals reported in local market.

-- Bajrangbali Steel Industries in Odisha has increased rebar offers by INR 300/MT to INR 30,300-30,400/MT (12mm) ex-plant.

-- ERW Pipe Manufacturers have increased their offers by INR 200-300/MT to INR 31,500/MT ex-Raipur, INR 31,700/MT ex-Rourkela & INR 34,100-34,200/MT ex-Mandi Gobindgarh.

-- Trade discount in Raipur wire rod slightly up by INR 100/MT to INR 900-1,100/MT along with surge in base price by INR 400/MT to INR 31,900/MT ex-plant. Also, in Durgapur trade reference prices up by INR 200/MT to INR 31,300-31,700/MT ex-plant

Reference prices as on 18th December 2019

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	22,300	22,200	22,400	+ 100	21,900	22,100
	Ex-Mumbai	HMS(80:20)	21,600	21,500	21,700	+ 100	21,300	21,500
	Ex-Chennai	HMS(80:20)	21,600	21,500	21,800	0	21,400	20,400
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	18,400	18,300	18,500	+ 300	17,700	18,100
	Ex-Rourkela	Mix, FeM 80%, +/-1	17,250	17,200	17,300	+ 350	16,500	16,700
	Ex-Raipur	Mix, FeM 80%, +/-1	18,500	18,400	18,600	+ 200	17,400	17,500
	Ex-Bellary	Lumps, FeM 80%, +/-1	17,200	17,100	17,300	+ 200	16,800	16,600
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	17,400	17,300	17,500	+ 300	16,700	17,100
	Ex-Raipur	Lumps, FeM 80%, +/-1	17,600	17,500	17,700	+ 200	16,600	16,600
	Ex-Bellary	Lumps, FeM 80%, +/-1	17,000	16,900	17,100	+ 100	16,700	16,400
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	17,500	17,400	17,600	+ 100	17,200	16,900
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	29,300	29,200	29,400	+ 100	28,600	29,000
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	27,050	27,000	27,100	+ 250	26,500	26,900
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	26,200	26,100	26,300	+ 300	25,300	25,650
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	26,800	26,700	26,900	+ 250	25,800	26,100
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	28,550	28,500	28,600	+ 150	27,700	27,450
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	29,600	29,500	29,700	0	28,900	29,400
	Ex-Durgapur	100x100 mm, IS 2831	27,400	27,300	27,500	+ 300	26,800	27,200
	Ex-Rourkela	100x100 mm, IS 2831	26,600	26,500	26,700	+ 350	25,600	26,000
	Ex-Raipur	100x100 mm, IS 2831	27,250	27,200	27,300	+ 200	26,150	26,300
	Ex-Ahmedabad	100x100 mm, IS 2831	29,800	29,700	29,900	+ 500	28,700	28,500
	Ex-Mumbai	100x100 mm, IS 2831	28,750	28,700	28,800	+ 150	27,900	27,650
	Ex-Chennai	100x100 mm, IS 2831	29,600	29,500	29,700	0	28,700	27,750
	Ex-Hyderabad	100x100 mm, IS 2831	28,300	28,000	28,500	+ 300	27,500	27,800
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	32,900	32,700	33,100	+ 500	31,800	32,100
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	31,500	31,300	31,700	+ 300	30,900	31,100
	Ex-Rourkela	12-25 MM, IS 1786- 500 Fe	30,300	30,200	30,400	+ 200	29,700	30,300
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	30,300	30,200	30,400	+ 200	29,400	29,800
	Ex-Jalna	12-25 MM, IS 1786- 500 Fe	32,300	32,100	32,400	+ 400	31,000	31,200
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	32,300	32,100	32,500	+ 100	31,600	31,100
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	33,200	33,100	33,400	+ 100	32,100	31,600
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	31,800	31,800	32,000	+ 300	31,000	31,000
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	31,400	31,300	31,700	+ 200	30,700	30,900
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	31,100	30,800	31,900	+ 300	29,800	30,200