Daily Update: Indian Steel Market 20 Feb'20
...
Indian secondary steel market reported mix trends where billet offers decline by INR 100-200/MT, while sponge iron prices surge by INR 100-300/MT in major markets on day trade activities.
In context to finished long (Rebar), prices marginally fluctuated by INR 100-200/MT in major locations on average trade activities.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 28,400-31,800/MT (USD 396-444) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,400-19,500/MT (USD 256-272); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 20th February 2020 (Thursday) INR to USD exchange rate stood at INR 71.64.
-- ICEX (Indian Commodity Exchange Ltd) Mar'20 contract for STEELLONG today open at INR 31,760/MT & last traded (IST 18:10 hrs) at INR 31,720/MT.
-- BSE Sensex closed at 41,170(-152) on Thursday, as against last day (Wednesday) at 41,323(+428).
-- NSE Nifty50 index was closed today at 12,080(-45) & Nifty Metal at 2,612(+21).
Raw Material
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 158.25/MT FoB Australia & USD 169.5/MT CNF India.
-- Melting scrap offers in Western India- Mumbai (Maharashtra) incline by INR 200/MT in a day trade activity.
Semi Finished
-- Indian mid scale mills export offers to Nepal is hovering at USD 400/MT for Billet & USD 450/MT for Wire rod, ex-mill at Durgapur.
-- Neo Metaliks in Durgapur has offered steel grade pig iron at INR 27,800/MT ex-plant, meanwhile no major trade inquiries, as per officials.
-- Rashmi Metaliks in Durgapur has slightly raised their sponge P-DRI offers to INR 18,700/MT, as per sources.
-- Raipur sponge P-DRI offers up by INR 100/MT to INR 18,600-18,700/MT ex-plant, however no major deals reported amid competitive offers from Raigarh at INR 18,700/MT on FoR Raipur basis.
-- Billet deals learned at INR 29,100/MT FoR Raipur from Raigarh based manufacturers.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,300-18,400/MT ex-Bellary & around 3,000 MT deals reported in nearby market.
-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 18,600/MT ex-plant, an official reported.
-- Apple Industries in Bellary (Karnataka) offered Billet at INR 30,400/MT ex-plant.
Rebar (12 mm)
-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 33,500/MT (down by INR 100/MT).
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 36,000/MT.
-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) has unchanged their offer at INR 35,900/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 36,900/MT FoR.
-- Chennai based Ponneri Steel Ind. (Triple Power) is offering around INR 35,500/MT.
-- Rebar Gauge parity in Hyderabad have increased by INR 300/MT to INR 3,000/MT for (10-25 mm) & INR 4000/MT for (8 & 32 mm), w.e.f. 20th Feb'20.
Wire Rod & Pipe
-- Traders in Raipur reduces Wire rod offers by INR 200/MT to INR 32000-32,200/MT, although through the plants it was firm at INR 32,500/MT ex-works. However in Durgapur offers drop by INR 200/MT to INR 32,500-33,000/MT ex-plant.
-- ERW Pipe Manufacturers in central India have decreased offers by INR 300/MT to INR 33,400-33,500/MT ex-Raipur.
Reference prices as on 20th February 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,700 | 23,600 | 23,800 | + 100 | 23,200 | 23,800 |
| Ex-Mumbai | HMS(80:20) | 23,300 | 23,200 | 23,500 | + 200 | 22,400 | 23,000 | |
| Ex-Chennai | HMS(80:20) | 21,800 | 21,600 | 22,000 | 0 | 21,600 | 23,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | + 100 | 19,400 | 20,650 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | + 300 | 18,600 | 19,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 19,350 | 20,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | 0 | 18,500 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,550 | 18,500 | 18,600 | + 100 | 18,400 | 19,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | + 100 | 18,400 | 19,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | 0 | 18,500 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | + 100 | 19,000 | 19,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,450 | 31,400 | 31,500 | - 50 | 30,900 | 32,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,650 | 28,600 | 28,700 | - 50 | 28,500 | 30,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,900 | 28,100 | - 100 | 27,800 | 28,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,550 | 28,500 | 28,600 | 0 | 28,300 | 29,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | - 100 | 29,700 | 31,800 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 31,800 | 31,700 | 31,900 | - 100 | 31,400 | 32,700 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 29,150 | 29,100 | 29,200 | - 50 | 29,000 | 30,450 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 28,400 | 28,300 | 28,500 | 0 | 28,000 | 29,300 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 29,100 | 29,000 | 29,200 | 0 | 28,700 | 29,800 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 30,900 | 30,800 | 31,000 | 0 | 30,300 | 32,500 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 30,900 | 30,800 | 31,000 | - 100 | 30,100 | 32,200 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 30,450 | 30,400 | 30,500 | - 100 | 30,700 | 31,500 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | 0 | 30,500 | 31,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,400 | 35,200 | 35,500 | 0 | 35,000 | 36,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,800 | 33,200 | 0 | 33,100 | 34,500 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,900 | 33,100 | 0 | 33,000 | 33,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,200 | 33,100 | 33,300 | 0 | 32,600 | 33,300 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 35,700 | 35,500 | 35,900 | 0 | 34,800 | 36,100 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,100 | 34,900 | 35,300 | 0 | 34,300 | 36,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 34,800 | 34,700 | 35,000 | 0 | 35,300 | 35,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,600 | 34,800 | 0 | 34,200 | 34,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 32,600 | 32,400 | 33,000 | - 200 | 32,500 | 34,400 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,300 | 32,100 | 32,500 | - 200 | 32,100 | 33,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
