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Daily Update: Indian Steel Market 2 Dec'19

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By
BigMint Bureau
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2 Dec 2019, 18:39 IST
Daily Update: Indian Steel Market 2 Dec'19

Indian Sponge & Billet prices increased slightly in the week opening, although trades activities relatively limited, as per participants. The prices surge by INR 100-200/MT, day on day, in major markets.

In context to finished long (Rebar), prices marginally fluctuated by INR 100-300/MT in major locations on average trade activities.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,800-29,500/MT (USD 359-411) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,700-18,100/MT (USD 232-252); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 2nd December 2019 (Monday) INR to USD exchange rate stood at INR 71.69.

-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 29,220/MT & last traded (IST 18:12 hrs) at INR 29,230/MT.

-- BSE Sensex closed at 40,802(+8) on Monday, as against last day (Friday) at 40,793(-336).

-- NSE Nifty50 index was closed today at 12,048(-7) & Nifty Metal at 2,632(+7).

Raw Material

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 133.75/MT FoB Australia & USD 147.25/MT CNF India.

-- South African RB2 (5500 NAR) coal offers are assessed at USD 66.78/MT on FoB basis & USD 79.57/MT CNF India

-- Steel Authority of India Limited (SAIL) is to conduct an auction of 28,000 MT Iron ore fines (Fe 62.96 from Rajhara mines of Bhilai Steel Plant (BSP), Chattisgarh. The auction will start from 10:00-13:00 HRS on 30 Dec 19.

Semi Finished

-- India's mid sized mills export offers hovering at USD 395-400/MT for Billet (induction grade, size 100*100 mm) & around USD 450/MT for Wire rod (commercial grade, size 5.5mm), CPT Raxaul border, Nepal.

-- Vedanta hikes domestic Pig iron price by INR 500/MT for Dec'19 on improved sales. Foundry grade offers reported at around INR 31,500-32,000/MT FoR (landed) Maharashtra.

-- SAIL increases Pig iron offer by INR 500/MT to INR 24,500/MT EXW-Bhilai, Central India.

-- RINL has invited an export tender of 40,000 MT Bloom. Interested bidders can submit their bids till 5 Dec'19 by 14:00 HRS.

-- Rashmi Metaliks in Durgapur has slightly raised sponge P-DRI price by INR 100-200/MT to INR 17,100-17,200/MT, as per sources.

-- Neo Metails in Durgapur has offered steel grade pig iron at around INR 23,900-24,000/MT ex-plant. However as per officials no major deals due to fluctuating steel prices.

-- Raipur based a major sponge manufacturer has kept sponge P-DRI price firm at INR 16,700/MT ex-plant. As per sources, demand remained on average basis, hence the prices maintained firm.

-- Punjipatra, Raigarh based steel manufacturers are still facing problems of power cut by JPL.

-- Odisha based manufacturer - Ganesh Metaliks has offered Billet at INR 26,000/MT ex-plant & about 1,400 MT deals reported for Patna (Bihar), which attract freight cost via road at INR 1,400-1,500/MT, as per officials.

-- Odisha based Billet manufacturer booked 500 MT C-DRI mix material (FeM 80) from local market at around INR 16,700/MT ex-plant.

-- Monnet Ispat offered DR CLO & P-DRI sponge at INR 18,600/MT & INR 16,600/MT ex-plant, Raipur- Officials.

-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 16,700-16,800/MT, ex-plant & excluding GST.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,700-16,800/MT ex-Bellary & deals of around 1,500 MT reported for Hyderabad, as per officials.

-- BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 16,700/MT & INR 17,100/MT ex-plant, Karnataka; an official reported.

Rebar (12 mm)

-- Rathi Steels based in North region has unchanged their offer at INR 33,300/MT.

-- Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 31,000/MT.

-- Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 32,300/MT.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 31,300/MT ( down by INR 200/MT).

-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offer at INR 32,600/MT FoR.

-- Chennai based Ponneri Steel Ind. (Triple Power) is current offering at INR 32,500/MT.

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod further up by INR 100/MT to INR 1,500-1,700/MT through the traders, however base prices remain firm by mills at INR 31,500/MT ex-Raipur. Also, in Durgapur trade reference prices stable at around INR 30,900-31,000/MT ex-plant.

-- In Odisha, east India- ERW pipe prices increased by INR 200-300/MT to INR 30,800-31,000/MT ex-plant. However in North & Central India the prices kept firm at INR 30,700-30,800/MT ex-Raipur & INR 34,300/MT ex-Mandi Gobindgarh; excluding GST.

Reference prices as on 2nd December 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22,000 21,900 22,100 0 22,000 22,000
Ex-Mumbai HMS(80:20) 21,200 21,100 21,300 0 21,000 21,400
Ex-Chennai HMS(80:20) 20,700 20,500 20,800 + 100 20,500 19,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 18,100 18,000 18,200 + 100 18,050 17,600
Ex-Rourkela Mix, FeM 80%, +/-1 16,700 16,600 16,800 0 16,700 16,400
Ex-Raipur Mix, FeM 80%, +/-1 17,700 17,600 17,800 + 100 17,600 17,000
Ex-Bellary Lumps, FeM 80%, +/-1 16,800 16,700 16,900 0 16,800 16,500
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 17,100 17,000 17,200 + 100 17,050 16,600
Ex-Raipur Lumps, FeM 80%, +/-1 16,700 16,600 16,800 0 16,700 16,000
Ex-Bellary Lumps, FeM 80%, +/-1 16,700 16,600 16,800 0 16,700 16,250
Ex-Hyderabad Lumps, FeM 80%, +/-1 17,200 17,100 17,300 0 17,200 16,500
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 29,100 29,000 29,200 0 28,900 28,950
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,850 26,800 26,900 + 100 26,850 26,600
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,500 25,400 25,600 0 25,550 25,600
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,050 26,000 26,100 + 50 26,000 26,100
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 27,900 27,800 28,000 + 50 27,600 28,100
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,500 29,400 25,600 + 100 29,300 29,200
Ex-Durgapur 100x100 mm, IS 2831 27,100 27,000 27,200 + 100 27,050 26,900
Ex-Rourkela 100x100 mm, IS 2831 25,850 25,800 25,900 + 50 25,900 25,900
Ex-Raipur 100x100 mm, IS 2831 26,300 26,200 26,400 + 50 26,300 26,600
Ex-Ahmedabad 100x100 mm, IS 2831 28,800 28,700 28,900 + 100 28,500 28,650
Ex-Mumbai 100x100 mm, IS 2831 28,200 28,100 28,300 + 100 27,800 28,300
Ex-Chennai 100x100 mm, IS 2831 28,300 28,200 28,500 + 150 27,700 27,500
Ex-Hyderabad 100x100 mm, IS 2831 28,000 27,900 28,100 + 200 28,000 27,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,100 31,900 32,200 - 100 31,900 33,000
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 31,200 31,000 31,400 + 100 31,000 30,700
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 30,000 29,900 30,100 0 30,200 30,600
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 29,600 29,500 29,700 - 100 29,700 30,000
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31,200 31,000 31,300 - 100 31,300 31,300
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 31,600 31,400 31,800 0 31,100 31,800
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 32,000 32,000 32,200 + 300 31,800 31,200
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 31,500 31,300 31,600 + 200 31,500 30,800
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 31,000 30,900 31,500 0 30,900 30,400
Ex-Raipur Wire Rod(5.5 MM) 30,500 30,000 31,500 0 30,200 30,800

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

2 Dec 2019, 18:39 IST

 

 

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