Daily Update: Indian Steel Market 2 Jan'20
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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
