Daily Update: Indian Steel Market 20 Nov'19
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Spot steel trades improved in Indian market, following which prices increased on day trade activities by INR 100-800/MT through the mid sized mills.
The billet prices rise majorly in Southern region-Hyderabad by INR 800/MT (USD 11) & North region-Mandi Gobindgarh by INR 600/MT (USD 8), while in remaining markets it surge by INR 100-400/MT, day on day.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,000-29,400/MT (USD 362-410) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,600-18,100/MT (USD 231-252); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 20th November 2019 (Wednesday) INR to USD exchange rate stood at INR 71.83.
-- ICEX (Indian Commodity Exchange Ltd) Dec'19 contract for STEELLONG today open at INR 27,950/MT & last traded (IST 18:11 hrs) at INR 28,100/MT.
-- BSE Sensex closed at 40,651(+181) on Wednesday, as against last day (Tuesday) at 40,469(+185).
-- NSE Nifty50 index was closed today at 11,999(+59) & Nifty Metal at 2,524(+6).
Raw Material
-- Melting scrap offers in Western India- Gujarat incline by INR 200/MT in a day trade activities.
-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at USD 266-270/MT, CFR Nhava Sheva.
Semi Finished
-- Neo Metaliks in Durgapur has offer steel grade pig iron at around INR 24,200-24,300/MT ex-plant.
-- Rashmi Metaliks in Durgapur has increased sponge P-DRI price by INR 200-300/MT to INR 17,100/MT, as per sources.
-- Raipur based major sponge manufacturers have raised sponge P-DRI price by INR 200-300/MT to INR 16,600-16,700/MT ex-plant, however no major deals due to competitive offers from Raigarh at INR 16,600/MT on FoR basis.
-- Raigarh based Singhal Steel offered P-DRI at around INR 16,600/MT (FoR Raipur) & Billet at INR 26,100-26,200/MT ex-Raigarh, officials reported.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,600-16,700/MT & Billet at INR 26,000/MT ex-plant; an official reported.
-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,600/MT & INR 17,000/MT ex-plant, Karnataka; an official reported. And added trade remains limited.
-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 16,700/MT, ex-plant & excluding GST.
Rebar (12 mm)
-- Rathi Steels based in North region has unchanged their offer at INR 33,200/MT.
-- Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 32,400/MT.
--Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 31,500/MT (up by INR 200/MT).
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) has unchanged their offer at INR 32,700/MT FoR.
-- Chennai based Ponneri Steel Ind. (Triple Power) is current offering at INR 32,000/MT.
Wire Rod & Pipe
-- ERW Pipe Manufacturers in North, East & Central India have increased their offers by INR 200-300/MT in a day trade activities. Offers reported at INR 30,600-30,800/MT ex-Raipur, INR 30,500/MT ex- Rourkela & INR 33,900-34,000/MT ex-Mandi Gobindgarh.
-- Trade discounts in Raipur wire rod drop by INR 200/MT and learned at INR 1,000-1,200/MT through the traders & INR 700-800/MT by manufacturers end, although base price was firm at INR 31,000/MT ex-plant. Trade reference price in Durgapur up by INR 300-400/MT to INR 30,800-31,000/MT ex-plant.
Reference prices as on 20th November 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,100 | 22,000 | 22,200 | + 200 | 22,400 | 21,500 |
| Ex-Mumbai | HMS(80:20) | 21,500 | 21,300 | 21,500 | 0 | 21,900 | 20,700 | |
| Ex-Chennai | HMS(80:20) | 20,400 | 20,200 | 20,500 | 0 | 20,300 | 19,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,100 | 18,000 | 18,200 | + 300 | 18,350 | 17,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | + 200 | 16,900 | 16,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | + 200 | 17,900 | 16,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 17,000 | 16,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,100 | 17,000 | 17,200 | + 300 | 17,300 | 15,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | + 200 | 16,950 | 15,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | - 100 | 16,700 | 15,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | - 100 | 17,200 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,000 | 28,900 | 29,100 | + 600 | 29,150 | 28,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,900 | 26,800 | 27,000 | + 400 | 26,950 | 25,850 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,650 | 25,600 | 25,700 | + 250 | 25,900 | 25,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,050 | 26,000 | 26,100 | + 200 | 26,450 | 25,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,450 | 27,400 | 27,500 | + 150 | 27,900 | 27,700 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 29,400 | 29,300 | 29,500 | + 600 | 29,500 | 28,500 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 27,200 | 27,100 | 27,300 | + 400 | 27,250 | 26,200 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 26,000 | 25,900 | 26,100 | + 300 | 26,300 | 25,550 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 26,300 | 26,200 | 26,400 | + 200 | 26,750 | 26,000 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | + 300 | 28,800 | 28,400 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 27,650 | 27,600 | 27,700 | + 150 | 28,100 | 27,900 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 27,750 | 27,700 | 27,800 | + 50 | 27,900 | 27,100 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 27,800 | 27,500 | 28,000 | + 800 | 28,000 | 26,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,100 | 31,800 | 32,200 | 0 | 32,800 | 32,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | + 200 | 31,400 | 30,300 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,300 | 30,200 | 30,500 | + 200 | 30,500 | 30,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,800 | 29,700 | 30,000 | + 100 | 30,200 | 29,800 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,300 | 0 | 31,900 | 30,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | 0 | 31,600 | 31,100 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,600 | 31,400 | 31,800 | + 100 | 31,800 | 30,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,100 | + 300 | 31,500 | 29,700 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,900 | 30,800 | 31,500 | + 400 | 31,200 | 29,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,200 | 30,000 | 31,000 | + 100 | 30,900 | 30,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
