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Daily Update: Indian Steel Market 18 Dec'19

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By
BigMint Bureau
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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
Ex-Raipur Wire Rod(5.5 MM) 31,100 30,800 31,900 + 300 29,800 30,200

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

18 Dec 2019, 18:25 IST

 

 

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