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Daily Update: Indian Steel Market 19 Sep'19

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BigMint Bureau

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19 Sep 2019, 18:33 IST

Daily Update: Indian Steel Market 19 Sep'19

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
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	30,800	30,600	31,600	- 200	31,500	29,600