Daily Update: Indian Steel Market 19 Sep'19
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Indian steel prices drop further on account of limited spot trades, as reported by mid sized mills.
The prices fell by INR 100-400/MT on day trade activities and major price corrections in rebar & billet observed in central & western regions by INR 200-400/MT, day on day.
In line sponge iron, prices slightly declined by INR 100-200/MT, day on day.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,600-29,400/MT (USD 373-412) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,800-18,000/MT (USD 235-252); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 19th September 2019 (Thursday) INR to USD exchange rate stood at INR 71.36.
-- ICEX (Indian Commodity Exchange Ltd) Oct'19 contract for STEELLONG today open at INR 28,210/MT & last traded (IST 18:21 hrs) at INR 28,330/MT.
-- BSE Sensex closed at 36,093(-470) on Thursday, as against last day (Wednesday) at 37,123(-261).
-- NSE Nifty50 index was closed today at 10,704(-135) & Nifty Metal at 2,363(-39).
Key Trades
-- Raipur (central India) based pellet manufacturers have decreased their offers by INR 200/MT today (i.e 19th Sept'19) for Fe 63% grade stands to INR 6,000/MT (ex-Raipur, GST extra).
-- Silicon Manganese (60-14) prices drop further in Raipur and assessed at INR 60,300-60,500/MT ex-plant.
-- Trade discounts in Raipur wire rod firm at INR 800-1,000/MT as base prices reduced by INR 200/MT to INR 31,600/MT ex-plant. Also in Durgapur, trade reference prices drop by INR 200/MT to INR 31,000-31,500/MT ex-plant.
-- Raipur based sponge P-DRI markers have lowered prices by INR 200/MT to INR 16,300-16,500/MT ex-plant. As per trade sources, inquiries were not upto the mark.
-- Central India, Raigarh based sponge manufacturer (900 TPD) has offered Pellet sponge at INR 16,400-16,500/MT FoR Raipur.
-- Durgapur based Rashmi Metaliks has cuts sponge P-DRI prices by INR 200/MT to INR 17,000/MT, as per sources.
-- Neo Metaliks in Durgapur has offered steel grade pig iron at INR 23,800/MT ex-plant.
-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 31,800-32,000/MT ex-plant & excluding GST.
-- Sources reported, Raigarh based manufacturer has concluded few Billet deals at around INR 27,200/MT FoR Raipur.
-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 16,500/MT ex-plant, an official reported.
-- BIOP Steels in South India has decreased sponge prices by INR 100-200/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,800/MT & INR 17,200/MT ex-plant, Karnataka; an official reported.
-- Rathi Steels based in North region is current offering 12 mm Rebar around INR 33,400/MT.
-- Raipur based Real Ispat (GK TMT) has unchanged their 12 mm Rebar offers at INR 33,000/MT.
-- Raigarh based Scan Group branding (Shrishti TMT) is offering 12 mm Rebar at INR 31,400/MT (down by INR 500/MT).
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering 12mm Rebar at INR 31,300/MT FoR.
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their 12 mm Rebar offers at INR 31,800/MT.
Reference prices as on 19th September 2019
Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
Scrap | Ex-Alang | HMS(80:20) | 21,500 | 21,400 | 21,600 | - 300 | 21,600 | 21,300 |
Ex-Mumbai | HMS(80:20) | 21,500 | 21,400 | 21,600 | - 100 | 21,500 | 21,500 | |
Ex-Chennai | HMS(80:20) | 20,300 | 20,300 | 20,600 | 0 | 21,000 | 20,400 | |
C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,000 | 17,900 | 18,100 | - 200 | 18,600 | 16,600 |
Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | - 150 | 17,000 | 15,900 | |
Ex-Raipur | Mix, FeM 80%, +/-1 | 17,600 | 17,500 | 17,700 | - 200 | 17,800 | 16,700 | |
Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 16,900 | 16,300 | |
P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,000 | 16,900 | 17,100 | - 200 | 17,600 | 15,600 |
Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | - 200 | 16,600 | 15,500 | |
Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | - 100 | 16,700 | 15,900 | |
Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | 0 | 17,200 | 16,400 | |
Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,200 | 29,100 | 29,300 | - 100 | 29,750 | 28,050 |
Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,300 | 27,200 | 27,400 | - 100 | 27,600 | 25,500 | |
Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,150 | 26,100 | 26,200 | - 150 | 26,400 | 24,700 | |
Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,800 | 26,700 | 26,900 | - 100 | 26,950 | 25,150 | |
Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,300 | 27,200 | 27,400 | - 200 | 27,500 | 27,000 | |
Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 29,400 | 29,300 | 29,500 | - 100 | 30,000 | 28,100 |
Ex-Durgapur | 100x100 mm, IS 2831 | 27,600 | 27,500 | 27,700 | 0 | 27,900 | 25,800 | |
Ex-Rourkela | 100x100 mm, IS 2831 | 26,700 | 26,600 | 26,800 | - 100 | 27,000 | 25,100 | |
Ex-Raipur | 100x100 mm, IS 2831 | 27,200 | 27,100 | 27,300 | - 200 | 27,550 | 25,700 | |
Ex-Ahmedabad | 100x100 mm, IS 2831 | 27,550 | 27,500 | 27,600 | - 350 | 28,200 | 27,400 | |
Ex-Mumbai | 100x100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | - 200 | 27,800 | 27,300 | |
Ex-Chennai | 100x100 mm, IS 2831 | 27,600 | 27,500 | 27,800 | - 100 | 28,100 | 28,200 | |
Ex-Hyderabad | 100x100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | 0 | 27,500 | 26,000 | |
TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,400 | 32,200 | 32,500 | - 300 | 33,000 | 32,700 |
Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,600 | 31,400 | 31,800 | - 400 | 32,100 | 29,600 | |
Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,100 | - 400 | 31,300 | 29,100 | |
Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,800 | 31,100 | - 300 | 31,100 | 29,100 | |
Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,600 | 31,400 | 31,700 | - 100 | 32,000 | 30,900 | |
Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 30,300 | 30,100 | 30,500 | - 200 | 30,600 | 30,200 | |
Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,900 | 31,700 | 32,100 | - 300 | 32,300 | 32,500 | |
Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,100 | 0 | 31,500 | 30,200 | |
Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,100 | 31,000 | 31,500 | - 200 | 31,700 | 29,400 |
Ex-Raipur | Wire Rod(5.5 MM) | 30,800 | 30,600 | 31,600 | - 200 | 31,500 | 29,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research