Daily Update: Indian Steel Market 19 Nov'19
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Indian semi finished market reported mix trends while sponge offers decline by INR 100-200/MT & billet fluctuated by INR 100-500/MT in major markets.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,600-28,800/MT (USD 357-402) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,800/MT (USD 230-248); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 19th November 2019 (Tuesday) INR to USD exchange rate stood at INR 71.70.
-- ICEX (Indian Commodity Exchange Ltd) Dec'19 contract for STEELLONG today open at INR 27,840/MT & last traded (IST 18:29 hrs) at INR 27,850/MT.
-- BSE Sensex closed at 40,469(+185) on Tuesday, as against last day (Monday) at 40,284(-72).
-- NSE Nifty50 index was closed today at 11,940(+55) & Nifty Metal at 2,517(-21).
Raw Material
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 136/MT FoB Australia & USD 149/MT CNF India.
-- South African RB2 (5500 NAR) coal offers are assessed at USD 58.3/MT on FoB basis & USD 71.1/MT CNF India
-- Melting scrap offers in Western India- Jalna (Maharashtra) incline by INR 200/MT in a day trade activities
Semi Finished
-- Mesco Steels in Jajpur, Odisha has reduced steel grade pig iron price by INR 100-200/MT to INR 22,800-22,900/MT ex-plant, as per sources.
-- As per officials from Neo Metaliks in Durgapur, steel grade pig iron traded at around INR 24,200/MT ex-plant.
-- Raipur based a major sponge manufacturer has sold about 4,000-5,000 MT P-DRI at INR 16,200-16,300/MT ex-plant and closed sale for today. However offers through mid size plants were at INR 16,400-16,500/MT ex-plant.
-- Raigarh based Singhal Steel offered billet at INR 26,100-26,200/MT FoR Raipur, officials reported.
-- Central India, Raigarh based sponge manufacturers has concluded few deal of P-DRI sponge at around INR 16,300-16,400/MT FoR Raipur.
-- Rashmi Metaliks in Durgapur has offered sponge P-DRI at INR 16,800/MT, as per sources.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,500/MT & Billet at INR 25,500/MT ex-plant; an official reported. And added trade remains limited.
-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 16,600/MT ex-plant, an official reported.
-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,600/MT & INR 17,000/MT ex-plant, Karnataka
Rebar (12 mm)
-- Rathi Steels based in North region has unchanged their offer at INR 33,200/MT.
-- Central region (Raipur) based Kamdhenu TMT is current offering at INR 32,300/MT.
-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is current offering at INR 31,500/MT.
-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 31,500/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 32,700/MT FoR.
Wire Rod & Pipe
-- Trade discounts in Raipur wire rod remained almost firm and reported at INR 1,200-1,400/MT by market participants & base prices drop by INR 300/MT to INR 31,000/MT ex-Raipur & offers maintained to INR 30,300-30,500/MT ex-Durgapur.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 33,600/MT ex-plant & excluding GST.
Reference prices as on 19th November 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,900 | 21,800 | 22,000 | - 200 | 22,600 | 21,400 |
| Ex-Mumbai | HMS(80:20) | 21,500 | 21,300 | 21,500 | 0 | 22,000 | 20,500 | |
| Ex-Chennai | HMS(80:20) | 20,400 | 20,200 | 20,500 | 0 | 20,200 | 19,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,800 | 17,700 | 17,900 | - 100 | 18,350 | 17,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | - 100 | 16,900 | 16,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | 0 | 17,900 | 16,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | - 100 | 17,000 | 16,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,800 | 16,700 | 16,900 | - 100 | 17,350 | 15,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | 0 | 17,000 | 15,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | - 50 | 16,600 | 16,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | 0 | 17,100 | 16,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,400 | 28,300 | 28,500 | + 50 | 29,100 | 28,750 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,400 | 26,600 | 0 | 26,950 | 26,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,400 | 25,300 | 25,500 | 0 | 26,000 | 25,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,850 | 25,800 | 25,900 | + 250 | 26,500 | 25,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,300 | 27,200 | 27,400 | + 50 | 28,000 | 27,700 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 28,800 | 28,700 | 28,900 | 0 | 29,500 | 28,950 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 26,800 | 26,700 | 26,900 | 0 | 27,250 | 26,300 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | + 50 | 26,300 | 25,700 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 26,100 | 26,000 | 26,200 | + 250 | 26,800 | 26,200 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 28,200 | 28,100 | 28,300 | + 200 | 28,800 | 28,200 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 27,500 | 27,500 | 27,700 | + 50 | 28,250 | 28,000 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 27,700 | 27,600 | 27,800 | - 300 | 28,000 | 27,000 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | - 500 | 28,000 | 26,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,100 | 31,900 | 32,200 | - 200 | 32,800 | 32,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,700 | 31,100 | - 100 | 31,400 | 30,400 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,100 | 30,000 | 30,200 | + 100 | 30,500 | 30,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,700 | 29,500 | 29,800 | 0 | 30,200 | 29,900 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,300 | 0 | 31,900 | 31,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | 0 | 31,800 | 31,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,500 | 31,400 | 31,700 | - 200 | 31,700 | 30,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 30,700 | 30,500 | 30,800 | - 300 | 31,700 | 30,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,500 | 30,300 | 31,000 | 0 | 31,300 | 29,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,100 | 29,700 | 31,000 | - 200 | 31,000 | 30,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
