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Daily Update: Indian Steel Market 18 Feb'20

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Semi Finished

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18 Feb 2020, 18:28 IST

Daily Update: Indian Steel Market 18 Feb'20

Indian Semi finished steel prices drop slightly over limited trade inquiries, as per participants. The prices of sponge iron & billet declined by INR 100-400/MT, day on day, in major markets.

In context to finished long (Rebar), prices marginally fluctuated by INR 100-500/MT in major locations on average trade activities.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 28,500-31,800/MT (USD 398-445) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,500-19,600/MT (USD 258-274); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 18th February 2020 (Tuesday) INR to USD exchange rate stood at INR 71.53.

-- ICEX (Indian Commodity Exchange Ltd) Mar'20 contract for STEELLONG today open at INR 31,880/MT & last traded (IST 18:12 hrs) at INR 31,650/MT.

-- BSE Sensex closed at 40,894(-161) on Tuesday, as against last day (Monday) at 41,055(-202).

-- NSE Nifty50 index was closed today at 11,992(-53) & Nifty Metal at 2,556(-30).

Raw Material

-- Melting scrap offers in Western India- Mumbai (Maharashtra) incline by INR 400/MT in a day trade activity.

-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 287/MT, CNF Nhava Sheva.

Semi Finished

-- Indian mid scale mills export offers to Nepal dropped by USD 2-3/MT and stands at USD 402-404/MT for Billet & USD 453-455/MT for Wire rod, ex-mill at Durgapur.

-- Indian Sponge iron export offers more or less firm and assessed at USD 285-290/MT CPT Benapole (dry port of India & Bangladesh), equivalent to USD 300-305/MT CFR Chittagong, Bangladesh.

-- Neo Metaliks has reduced steel grade pig iron prices by around INR 200/MT to INR 27,800/MT ex-plant, Durgapur.

-- Raipur sponge P-DRI offers down by INR 300/MT to INR 18,600/MT ex-plant, however no major deals as per participants.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,600/MT & Billet at INR 28,500-28,600/MT ex-plant; an official reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,400-18,500/MT ex-Bellary & around 2,000 MT deals reported in nearby market.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 18,500/MT & INR 18,900/MT ex-plant, Karnataka & no major deals reported.

Rebar (12 mm)

-- Rathi Steels based in North region has unchanged their offer at INR 36,800/MT.

-- Raipur based Real Ispat (GK TMT) is offering at INR 35,600/MT (up by INR 100/MT).

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

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 36,000/MT (up by INR 500/MT).

-- Gujarat based Diamond TMT has unchanged their offer at INR 37,100/MT.

Wire Rod & Pipe

-- Wire rod offers through the traders in Raipur assessed at around INR 32,300/MT, however by plants it was offer at INR 32,600-32,800/MT ex-works.

-- ERW Pipe offers fluctuated by INR 200-300/MT to INR 33,800-34,000/MT ex-Raipur, INR 36,800/MT ex-Mandi Gobindgarh & INR 34,000/MT ex-Rourkela.

Reference prices as on 18th 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	0	23,200	23,700
	Ex-Mumbai	HMS(80:20)	23,100	23,000	23,400	+ 400	22,500	22,900
	Ex-Chennai	HMS(80:20)	21,800	21,600	22,000	+ 100	22,000	23,800
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	19,600	19,500	19,700	- 200	19,500	20,200
	Ex-Rourkela	Mix, FeM 80%, +/-1	18,800	18,700	18,900	- 300	18,850	19,000
	Ex-Raipur	Mix, FeM 80%, +/-1	19,600	19,500	19,700	- 200	19,700	20,100
	Ex-Bellary	Lumps, FeM 80%, +/-1	18,500	18,400	18,600	0	18,800	19,300
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	18,650	18,600	18,700	- 250	18,500	19,300
	Ex-Raipur	Lumps, FeM 80%, +/-1	18,600	18,500	18,700	- 300	18,700	19,100
	Ex-Bellary	Lumps, FeM 80%, +/-1	18,400	18,300	18,500	0	18,900	18,900
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	18,900	18,800	19,000	- 100	19,300	19,500
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	31,400	31,300	31,500	- 350	31,000	31,500
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	28,750	28,700	28,800	- 400	28,800	29,500
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	28,100	28,000	28,200	- 300	28,000	28,300
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	28,500	28,400	28,600	- 400	28,400	28,600
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	30,800	30,700	30,900	0	29,900	31,000
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	31,800	31,700	31,900	- 400	31,500	32,000
	Ex-Durgapur	100x100 mm, IS 2831	29,250	29,200	29,300	- 400	29,300	30,000
	Ex-Rourkela	100x100 mm, IS 2831	28,600	28,500	28,700	- 200	28,350	28,700
	Ex-Raipur	100x100 mm, IS 2831	29,100	29,000	29,200	- 350	28,950	29,000
	Ex-Ahmedabad	100x100 mm, IS 2831	31,100	31,000	31,200	- 400	30,400	32,100
	Ex-Mumbai	100x100 mm, IS 2831	31,200	31,100	31,300	0	30,300	31,300
	Ex-Chennai	100x100 mm, IS 2831	30,800	30,700	30,900	- 100	31,000	32,300
	Ex-Hyderabad	100x100 mm, IS 2831	31,000	30,900	31,100	0	30,500	31,000
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	35,600	35,400	35,800	- 200	35,300	35,600
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	33,400	33,200	33,600	- 100	33,300	33,800
	Ex-Rourkela	12-25 MM, IS 1786- 500 Fe	33,200	33,100	33,300	0	33,500	33,000
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	33,400	33,300	33,500	+ 400	32,900	33,000
	Ex-Jalna	12-25 MM, IS 1786- 500 Fe	35,900	35,700	36,100	+ 500	35,100	35,700
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	35,100	34,900	35,300	0	34,500	36,100
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	34,900	34,800	35,200	- 200	35,400	36,000
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	35,100	35,000	35,200	+ 100	34,200	34,700
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	32,900	32,800	33,200	- 300	32,900	34,000
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	32,600	32,300	32,800	- 200	32,400	32,900