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Daily Update: Indian Steel Market 19 Dec'19

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By
BigMint Bureau
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19 Dec 2019, 18:10 IST
Daily Update: Indian Steel Market 19 Dec'19

Indian steel prices volatile by INR 100-300/MT today amid average demand-supply, as stated by participants.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,400-29,800/MT (USD 371-420) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,200-18,400/MT (USD 242-259); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 19th December 2019 (Thursday) INR to USD exchange rate stood at INR 71.07.

-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 29,220/MT & last traded (IST 18:08 hrs) at INR 29,210/MT.

-- BSE Sensex closed at 41,673(+115) on Thursday, as against last day (Wednesday) at 41,558(+206).

-- NSE Nifty50 index was closed today at 12,259(+38) & Nifty Metal at 2,691(+3).

Raw Material

-- SAIL had issued tender for sale of 28,000 MT iron ore fines from its Rajhara mines in Bhilai Steel Plant (BSP), Chhattisgarh. In recent update received, the company has extended due dates for fines sale to 15th Jan'20 against last due date of 30 Dec'19.

Semi Finished

-- Induction grade billet export offers to Nepal firm today at around USD 375-378/MT ex-mill at Durgapur, equivalent to USD 400/MT CPT Nepal.

-- Neo Metaliks in Durgapur has kept steel grade pig iron price firm at INR 24,700/MT ex-plant.

-- As per market sources, Bokaro based Electro Steels has sold steel grade pig iron to Northern India at INR 23,800-24,000/MT (ex-plant) a day before.

-- Raipur based sponge P-DRI manufacturers have kept prices steady at INR 17,600-17,700/MT ex-plant, however deals remained limited as landed cost from Raigarh was similar.

-- Rashmi Metaliks in Durgapur has sligthly reduce P-DRI price by INR 200/MT to INR 17,300/MT, as per sources.

-- Billet deals learned at INR 27,300/MT FoR Raipur from Raigarh based manufacturers.

-- Central India, Raigarh based sponge manufacturers has concluded few deals of P-DRI sponge at INR 17,600-17,700/MT FoR Raipur.

-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 17,500/MT, ex-plant & excluding GST.

-- BIOP Steels in South India has increased sponge prices by INR 200-300/MT, offering FeM 80 & 82 C-DRI lumps at INR 17,500/MT & INR 17,900/MT ex-plant, Karnataka; an official reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,200-17,300/MT ex-Bellary & around 5,500 MT deals reported in local market.

Rebar (12 mm)

-- Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 30,300-30,400/MT.

-- Rathi Steels based in North region has unchanged their offer at INR 33,900/MT.

-- Muzzaffarnagar based Sarvottam Rolling Mills Pvt. Ltd.(Paras TMT) is current offering at INR 31,600/MT.

-- Raipur based Real Ispat (GK TMT) is current offering at INR 32,900/MT.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering INR 32,500/MT (up by INR 100/MT).

-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is offering at INR 33,500/MT.

Wire Rod & Pipe

-- ERW Pipe Manufacturers in Raipur, Central India have increased offers by INR 300/MT to INR 31,700-31,800/MT ex-plant.

-- Trade discount in Raipur wire rod slightly up by INR 100/MT to INR 1,000-1,200/MT, however base prices steady at INR 31,900/MT ex-plant. Although, in Durgapur trade reference prices drop by INR 200/MT to INR 31,000-31,500/MT ex-plant.

Reference prices as on 19th 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 0 21,900 22,400
Ex-Mumbai HMS(80:20) 21,600 21,500 21,700 0 21,300 21,400
Ex-Chennai HMS(80:20) 21,700 21,500 21,800 + 100 21,400 20,300
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 18,250 18,200 18,300 - 150 17,700 18,100
Ex-Rourkela Mix, FeM 80%, +/-1 17,250 17,200 17,300 0 16,550 16,600
Ex-Raipur Mix, FeM 80%, +/-1 18,400 18,300 18,500 - 100 17,400 17,500
Ex-Bellary Lumps, FeM 80%, +/-1 17,400 17,300 17,500 + 200 16,700 16,700
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 17,250 17,200 17,300 - 150 16,700 17,050
Ex-Raipur Lumps, FeM 80%, +/-1 17,500 17,400 17,600 - 100 16,600 16,500
Ex-Bellary Lumps, FeM 80%, +/-1 17,200 17,100 17,300 + 200 16,700 16,500
Ex-Hyderabad Lumps, FeM 80%, +/-1 17,700 17,600 17,700 + 200 17,200 17,000
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 29,300 29,200 29,400 0 28,600 28,900
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,900 26,800 27,000 - 150 26,500 26,800
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 26,150 26,100 26,200 - 50 25,200 25,600
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,750 26,700 26,800 - 50 25,750 26,000
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 28,650 28,600 28,700 + 100 27,600 27,600
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,600 29,500 29,700 0 28,900 29,200
Ex-Durgapur 100x100 mm, IS 2831 27,200 27,100 27,300 - 200 26,750 27,100
Ex-Rourkela 100x100 mm, IS 2831 26,450 26,400 26,500 - 150 25,550 25,900
Ex-Raipur 100x100 mm, IS 2831 27,150 27,100 27,200 - 100 26,100 26,350
Ex-Ahmedabad 100x100 mm, IS 2831 29,800 29,700 29,900 0 28,650 28,600
Ex-Mumbai 100x100 mm, IS 2831 28,900 28,800 29,000 + 150 27,850 27,850
Ex-Chennai 100x100 mm, IS 2831 29,800 29,700 30,000 + 200 28,700 27,800
Ex-Hyderabad 100x100 mm, IS 2831 28,500 28,400 28,600 + 200 27,500 27,800
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,900 32,700 33,100 0 31,700 32,400
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 31,300 31,100 31,500 - 200 30,800 31,000
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 30,200 30,000 30,300 - 100 29,700 30,300
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 30,300 30,200 30,400 0 29,300 29,700
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 32,300 32,100 32,400 0 30,900 31,500
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 32,400 32,200 32,600 + 100 31,600 31,200
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 33,200 33,100 33,400 0 32,100 31,700
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 32,000 31,800 32,100 + 200 31,000 31,300
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 31,200 31,000 31,500 - 200 30,500 30,900
Ex-Raipur Wire Rod(5.5 MM) 31,000 30,700 31,900 - 100 29,700 30,200

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

19 Dec 2019, 18:10 IST

 

 

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