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Daily Update: Indian Steel Market 2 Jan'20

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Semi Finished
By
BigMint Bureau
1123 Reads
2 Jan 2020, 18:23 IST
Daily Update: Indian Steel Market 2 Jan'20

Indian Semi-finished steel prices rise further on account of improved spot trades amid rising demand with the mid sized mills.

As per assessment, the sponge iron & billet prices rallied by INR 100-500/MT with major hike of INR 500/MT in central region - Raipur. Inline Rebar offers rise by INR 100-700/MT, day on day in major markets.

Participants being stated, better spot trades & lessened stock with the mills, hence the price rise continuous.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 29,800-33,200/MT (USD 417-465) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,500-20,700/MT (USD 273-290); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 2nd January 2020 (Thursday) INR to USD exchange rate stood at INR 71.38.

-- ICEX (Indian Commodity Exchange Ltd) Feb'20 contract for STEELLONG today open at INR 31,780/MT & last traded (IST 18:15 hrs) at INR 32,120/MT.

-- BSE Sensex closed at 41,626(+320) on Thursday, as against last day (Tuesday) at 41,253(-304).

-- NSE Nifty50 index was closed today at 12,282(+99) & Nifty Metal at 2,869(+73).

Raw Material

-- NMDC increases Iron ore fines and lumps prices by INR 200/MT, DR-CLO by INR 230/MT & ROM by INR 190/MT for Jan'20.

-- Karnataka, Bellary based Sponge & Pellet manufacturer- BMM Ispat has sold about 10,000 MT pellets in Tamil Nadu including local market at around INR 7,300/MT (ex-plant).

-- JSW Steel (Dolvi) sourcing from NMDC was recorded at 62 rakes in Dec'19 against 55 rakes in Nov'19.

-- Melting scrap offers in Western India- Gujarat incline by INR 200/MT in a day trade activities.

-- MOIL has increased Manganese Ore prices for the first quarter of CY20 (Jan-Mar) by up to 15%.

-- Raipur based furnaces reported purchase of Silicon Manganese (60-14) at INR 66,000-66,500/MT ex-plant. However offers through the suppliers end reported at INR 67,000-67,500/MT ex-plant.

Semi Finished

-- SAIL has schedule an auction to sale of about 3,900 MT basic grade Pig iron on 4th Jan'20 from its Rourkela Steel Plant (RSP).

-- Neo Metaliks in Durgapur has reported steel grade pig iron at around INR 27,000/MT ex-plant and as per officials deals are taking place.

-- Rashmi Metaliks in Durgapur has kept Sponge P-DRI prices firm at INR 19,300/MT, as per sources.

-- The sponge manufacturers in Raipur have sharply raised prices by INR 400-500/MT and deals of about 4,000-5,000 MT reported at INR 19,700-19,900/t ex-plant for P-DRI.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,600/MT ex-plant; an official reported.

-- Odisha based manufacturer, Ganesh Metaliks sold around 500 MT Billet in Ghaziabad market at INR 29,800/MT ex-plant, an official reported.

-- Apple Industries in Bellary (Karnataka) offered Billet at INR 32,500/MT ex-plant.

-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 19,500/MT ex-plant, an official reported.

-- Southern India, Bellary based A one Steel has concluded around 1,000 MT Sponge C-DRI deal for Chennai region at around INR 19,400/MT ex-plant, officials reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,200-19,300/MT ex-Bellary & around 4,000 MT deals reported in nearby market.

Rebar (12 mm)

-- Rathi Steels based in North region is offering at INR 37,200/MT (up by INR 500/MT).

-- Muzzaffarnagar based Sarvottam Rolling Mills Pvt. Ltd.(Paras TMT) is current offering at INR 34,800/MT.

-- Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 36,100/MT.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offer INR 36,500/MT.

-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is offering at INR 38,600/MT.

-- Chennai based ARS Steel (Trusteel - 550D) is current offering at INR 37,000/MT.

Wire Rod & Pipe

-- Trade discount in Raipur wire rod reported at INR 800-1,000/MT and base prices surge by INR 300/MT to INR 35,400/MT ex-plant. Also in Durgapur trade reference prices up by INR 100/MT to INR 34,600-37,000/MT ex-plant.

-- ERW Pipe Manufacturers have increased offers by INR 500/MT to INR 34,800-35,000/MT ex-Raipur & INR 35,000/MT ex-Rourkela.

Reference prices as on 2nd January 2020

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 24,000 23,900 24,100 + 200 23,500 22,000
Ex-Mumbai HMS(80:20) 22,800 22,700 23,000 + 100 22,500 21,400
Ex-Chennai HMS(80:20) 23,100 23,000 23,400 + 200 22,200 20,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,200 20,100 20,300 0 19,700 18,150
Ex-Rourkela Mix, FeM 80%, +/-1 19,700 19,600 19,800 + 300 18,700 16,600
Ex-Raipur Mix, FeM 80%, +/-1 20,700 20,600 20,800 + 500 20,100 17,600
Ex-Bellary Lumps, FeM 80%, +/-1 19,500 19,400 19,600 + 200 18,900 16,900
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,300 19,200 19,400 + 50 18,700 17,100
Ex-Raipur Lumps, FeM 80%, +/-1 19,800 19,700 19,900 + 500 19,200 16,600
Ex-Bellary Lumps, FeM 80%, +/-1 19,300 19,200 19,400 + 100 18,700 16,800
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,800 19,700 19,900 + 100 19,000 17,250
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 32,750 32,700 32,800 + 450 31,200 28,900
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 29,950 29,900 30,000 + 150 28,600 26,700
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 29,200 29,100 29,300 + 400 28,200 25,400
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,000 29,900 30,100 + 500 28,800 25,950
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 32,000 31,900 32,100 0 30,900 27,900
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 33,200 33,100 33,300 + 300 31,550 29,300
Ex-Durgapur 100x100 mm, IS 2831 30,200 30,100 30,300 + 100 29,100 27,000
Ex-Rourkela 100x100 mm, IS 2831 29,800 29,700 29,900 + 500 28,600 25,700
Ex-Raipur 100x100 mm, IS 2831 30,500 30,400 30,600 + 500 29,300 26,200
Ex-Ahmedabad 100x100 mm, IS 2831 33,000 32,900 33,100 + 300 32,450 28,700
Ex-Mumbai 100x100 mm, IS 2831 32,300 32,200 32,400 0 31,300 28,200
Ex-Chennai 100x100 mm, IS 2831 32,300 32,300 32,500 + 400 31,200 28,400
Ex-Hyderabad 100x100 mm, IS 2831 31,000 30,900 31,100 0 30,300 27,800
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 36,100 36,000 36,300 + 500 33,800 31,900
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 34,500 34,300 34,700 0 32,800 31,100
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 34,300 34,200 34,400 + 700 32,800 30,000
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 33,800 33,700 34,000 + 500 32,500 29,400
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 36,300 36,100 36,500 + 100 34,700 31,100
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 35,500 35,300 35,700 0 34,400 31,700
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 35,700 35,700 36,000 + 700 34,600 32,000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 34,700 34,600 34,800 0 33,800 31,300
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 34,700 34,600 35,000 + 100 33,000 31,000
Ex-Raipur Wire Rod(5.5 MM) 34,700 34,500 35,400 + 500 33,100 30,100

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

2 Jan 2020, 18:23 IST

 

 

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