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Daily Update: Indian Steel Market 20 Sep'19

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20 Sep 2019, 18:26 IST

Daily Update: Indian Steel Market 20 Sep'19

Indian steel prices recover today amid slight improved trades and the prices rise by INR 100-500/MT with major surge in western region - Gujarat.

As per daily assessment, the prices hike is about INR 100-500/MT in billet, INR 100-400/MT in rebar & INR 100-200/MT in sponge iron.

Participants believe that, prices to remain volatile as trades are subdued in domestic market amid falling raw materials and adjusted production levels by mid sized mills.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,800-29,500/MT (USD 377-416) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,800-18,200/MT (USD 236-257); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 20th September 2019 (Friday) INR to USD exchange rate stood at INR 71.02.

-- ICEX (Indian Commodity Exchange Ltd) Oct'19 contract for STEELLONG today open at INR 29,270/MT & last traded (IST 18:20 hrs) at INR 28,490/MT.

-- BSE Sensex closed at 38,014(+1921) on Friday, as against last day (Thursday) at 36,093(-470).

-- NSE Nifty50 index was closed today at 11,274(+569) & Nifty Metal at 2,497(+134).

Key Trades

-- SAIL has schedule a auction to sale of about 1,500 MT basic grade Pig iron on 23rd Sep'19 from its Rourkela Steel Plant (RSP).

-- RINL has invited a tender for export of 8,127 Billets, 8,127 MT Wire Rod and 5,418 MT Bloom to Nepal. Interested bidders can submit their bids till 24 Sept'19 at 14:00 hrs.

-- Trade discounts in Raipur wire rod remained firm at INR 800-1,000/MT along with steady base price at INR 31,600/MT ex-plant. However in Durgapur, trade reference prices surge by INR 200/MT to INR 31,100-31,600/MT ex-plant.

-- Durgapur based Rashmi Metaliks has raised sponge P-DRI prices by INR 200/MT to INR 17,200/MT, as per sources.

-- Raipur based sponge P-DRI markers have slightly gain prices by INR 100-200/MT to INR 16,500-16,600/MT ex-plant.

-- The private pig iron producers in eastern India have maintained prices firm and reported steel grade at INR 22,900-23,000/MT by Mesco Steels in Jajpur, Odisha & INR INR 23,800/MT by Neo Metaliks in Durgapur, both are ex-plant & excluding GST

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered Billet at INR 26,800/MT ex-plant.

-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 17,000/MT ex-plant & excluding GST.

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 31,700-31,800/MT ex-plant & excluding GST.

-- Rathi Steels based in North region is current offering 12 mm Rebar at INR 33,400/MT.

-- Raigarh based Scan Group branding (Shrishti TMT) is offering 12 mm Rebar at INR 31,700/MT(up by INR 300/MT).

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering 12 mm Rebar at INR 31,800/MT and Gajkesari TMT is offering 12 mm Rebar at 31,100/MT.

Reference prices as on 20th September 2019

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	21,500	21,400	21,600	0	21,400	21,700
	Ex-Mumbai	HMS(80:20)	21,100	21,100	21,300	- 400	21,500	21,500
	Ex-Chennai	HMS(80:20)	20,400	20,300	20,600	+ 100	20,800	20,700
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	18,200	18,100	18,300	+ 200	18,400	16,900
	Ex-Rourkela	Mix, FeM 80%, +/-1	17,000	16,900	17,100	+ 200	16,800	15,900
	Ex-Raipur	Mix, FeM 80%, +/-1	17,800	17,700	17,900	+ 200	17,700	16,800
	Ex-Bellary	Lumps, FeM 80%, +/-1	16,800	16,700	16,900	0	16,900	16,300
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	17,200	17,100	17,300	+ 200	17,400	15,900
	Ex-Raipur	Lumps, FeM 80%, +/-1	16,550	16,500	16,600	+ 150	16,500	15,650
	Ex-Bellary	Lumps, FeM 80%, +/-1	16,500	16,400	16,600	0	16,700	15,900
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	17,000	16,900	17,100	0	17,100	16,400
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	29,300	29,200	29,400	+ 100	29,700	28,500
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	27,400	27,300	27,500	+ 100	27,500	25,700
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	26,300	26,200	26,400	+ 150	26,300	25,000
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	26,800	26,700	26,900	0	27,000	25,500
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	27,300	27,200	27,400	0	27,400	27,400
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	29,500	29,400	29,600	+ 100	29,900	28,600
	Ex-Durgapur	100x100 mm, IS 2831	27,650	27,600	27,700	+ 50	27,800	26,100
	Ex-Rourkela	100x100 mm, IS 2831	26,800	26,700	26,900	+ 100	26,800	25,400
	Ex-Raipur	100x100 mm, IS 2831	27,200	27,100	27,300	0	27,550	26,100
	Ex-Ahmedabad	100x100 mm, IS 2831	28,100	28,000	28,200	+ 550	27,900	27,600
	Ex-Mumbai	100x100 mm, IS 2831	27,500	27,400	27,600	0	27,600	27,700
	Ex-Chennai	100x100 mm, IS 2831	27,500	27,400	27,700	- 100	27,800	28,100
	Ex-Hyderabad	100x100 mm, IS 2831	27,000	26,900	27,100	0	27,500	26,200
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	32,500	32,300	32,600	+ 100	32,700	32,800
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	31,800	31,600	32,000	+ 200	31,800	29,800
	Ex-Rourkela	12-25 MM, IS 1786- 500 Fe	31,200	31,100	31,400	+ 200	31,100	29,600
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	31,000	30,900	31,100	+ 100	31,000	29,300
	Ex-Jalna	12-25 MM, IS 1786- 500 Fe	31,600	31,500	31,800	0	31,900	31,000
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	30,100	29,900	30,300	- 200	30,500	30,400
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	31,900	31,700	32,100	0	32,100	32,400
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	31,000	30,900	31,200	0	31,400	30,200
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	31,300	31,100	31,600	+ 200	31,500	29,700
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	30,800	30,600	31,600	0	31,100	29,900