Daily Update: Indian Steel Market 18 Sep'19
...
Spot steel trades remained weak in Indian market, following which prices dropped on day trade activities by INR 100-500/MT through the mid sized mills.
The billet prices drop majorly in southern region-Hyderabad by INR 500/MT (USD 7), while in remaining markets it corrected by INR 100-300/MT, day on day.
In context to rebar & sponge iron, the prices fell by INR 100-300/MT, as per daily assessment made by SteelMint.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,800-29,500/MT (USD 376-415) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,800-18,200/MT (USD 236-256); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 18th September 2019 (Wednesday) INR to USD exchange rate stood at INR 71.18.
-- ICEX (Indian Commodity Exchange Ltd) Oct'19 contract for STEELLONG today open at INR 28,440/MT & last traded (IST 18:27 hrs) at INR 28,250/MT.
-- BSE Sensex closed at 36,563(+82) on Wednesday, as against last day (Monday) at 37,123(-261).
-- NSE Nifty50 index was closed today at 10,840(+23) & Nifty Metal at 2,402(+26).
Key Trades
-- Trade discounts in Raipur wire rod up by INR 100/MT to INR 800-1,000/MT despite reduced base price by INR 200/MT to INR 31,800/MT ex-plant. Similarly in Durgapur, trade reference prices plunged by INR 300/MT to INR 31,200-31,600/MT ex-plant.
-- Durgapur based Rashmi Metaliks has slightly reduced sponge P-DRI prices by INR 100-200/MT to INR 17,300/MT, as per sources.
-- Raipur based a major sponge P-DRI producer has lowered prices by INR 100/MT to INR 16,600-16,700/MT ex-plant. Further sources mentioned that, no major deals on account of falling billet prices across markets.
-- Neo Metaliks in Durgapur has offered steel grade pig iron at INR 23,800-23,900/MT ex-plant.
-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 16,900-17,000/MT ex-plant & excluding GST.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,500-16,600/MT ex-Bellary, an official reported.
-- Apple Industries in Bellary (Karnataka) offered Billet at INR 27,700/MT ex-plant.
-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,900/MT & INR 17,300/MT ex-plant, Karnataka; an official reported.
-- Raipur based Real Ispat (GK TMT) is offering 12 mm Rebar at INR 33,000/MT (down by INR 300/MT).
-- Raigarh based Scan Group branding (Shrishti TMT) is offering 12 mm Rebar at INR 31,900/MT (down by INR 100/MT).
-- Gujarat based Diamond TMT is current offering 12mm Rebar at INR 31,400/MT.
-- Jalna based Rajuri Steel Pvt. Ltd.(Rajuri TMT) is current offering 12mm Rebar at INR 31,800/MT.
Reference prices as on 18th September 2019
Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
Scrap | Ex-Alang | HMS(80:20) | 21,800 | 21,700 | 21,900 | - 50 | 21,800 | 21,300 |
Ex-Mumbai | HMS(80:20) | 21,600 | 21,500 | 21,700 | - 100 | 21,500 | 21,300 | |
Ex-Chennai | HMS(80:20) | 20,300 | 20,200 | 20,500 | 0 | 20,800 | 20,400 | |
C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,200 | 18,100 | 18,300 | - 300 | 18,800 | 16,400 |
Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,950 | 16,900 | 17,000 | - 50 | 17,200 | 15,600 | |
Ex-Raipur | Mix, FeM 80%, +/-1 | 17,800 | 17,700 | 17,900 | 0 | 17,900 | 16,600 | |
Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | - 100 | 16,900 | 16,300 | |
P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,200 | 17,100 | 17,300 | - 300 | 17,800 | 15,400 |
Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | - 100 | 16,800 | 15,300 | |
Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | - 100 | 16,750 | 15,900 | |
Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | - 100 | 17,200 | 16,400 | |
Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,300 | 29,300 | 29,400 | - 350 | 30,200 | 27,400 |
Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,400 | 27,300 | 27,500 | - 200 | 27,800 | 25,200 | |
Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,300 | 26,200 | 26,400 | - 200 | 26,700 | 24,100 | |
Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,900 | 26,800 | 27,000 | - 250 | 27,250 | 24,550 | |
Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,500 | 27,400 | 27,600 | 0 | 27,700 | 27,000 | |
Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 29,500 | 29,400 | 29,600 | - 300 | 30,400 | 27,400 |
Ex-Durgapur | 100x100 mm, IS 2831 | 27,600 | 27,500 | 27,700 | - 300 | 28,150 | 25,600 | |
Ex-Rourkela | 100x100 mm, IS 2831 | 26,800 | 26,700 | 26,900 | - 200 | 27,200 | 24,600 | |
Ex-Raipur | 100x100 mm, IS 2831 | 27,400 | 27,300 | 27,500 | - 300 | 27,900 | 25,050 | |
Ex-Ahmedabad | 100x100 mm, IS 2831 | 27,900 | 27,800 | 28,000 | - 300 | 28,400 | 27,100 | |
Ex-Mumbai | 100x100 mm, IS 2831 | 27,700 | 27,600 | 27,800 | 0 | 27,900 | 27,200 | |
Ex-Chennai | 100x100 mm, IS 2831 | 27,700 | 27,600 | 27,800 | - 300 | 28,400 | 28,200 | |
Ex-Hyderabad | 100x100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | - 500 | 27,500 | 26,000 | |
TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,700 | 32,500 | 32,900 | - 200 | 33,100 | 32,600 |
Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 32,000 | 31,800 | 32,200 | - 100 | 32,100 | 29,400 | |
Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 31,400 | 31,300 | 31,500 | 0 | 31,300 | 29,100 | |
Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,400 | 0 | 31,200 | 28,600 | |
Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,700 | 31,500 | 31,800 | - 100 | 32,100 | 30,900 | |
Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,500 | 30,300 | 30,600 | 0 | 30,800 | 30,400 | |
Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 32,200 | 32,100 | 32,400 | - 200 | 32,400 | 32,500 | |
Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,100 | 0 | 31,500 | 30,000 | |
Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,300 | 31,200 | 31,600 | - 300 | 31,900 | 29,200 |
Ex-Raipur | Wire Rod(5.5 MM) | 31,000 | 30,900 | 31,800 | - 300 | 31,700 | 28,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research