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 |
Ex-Raipur | Wire Rod(5.5 MM) | 30,800 | 30,600 | 31,600 | 0 | 31,100 | 29,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research