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Daily Update: Indian Steel Market 21 Feb'20

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21 Feb 2020, 18:21 IST

Daily Update: Indian Steel Market 21 Feb'20

Indian spot steel trade activities remain limited over festive mood in the country and bank holiday, this leads to slight price fluctuation of INR 100-300/MT, day on day in major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 28,500-32,000/MT (USD 395-444) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,400-19,500/MT (USD 256-271); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 21st February 2020 (Friday) INR to USD exchange rate stood at INR 71.98.

-- ICEX (Indian Commodity Exchange Ltd) Mar'20 contract for STEELLONG today open at INR 31,800/MT & last traded (IST 18:11 hrs) at INR 31,740/MT.

Raw Material

-- SAIL is to conduct an auction of 28,000 MT Iron ore fines (Fe 62.59%) from Dalli mines of Bhilai Steel Plant (BSP), Chhattisgarh. The auction is scheduled on 25 Mar'20.

-- South African RB2 (5500 NAR) coal offers are assessed at USD 63/MT on FoB basis & USD 77/MT CNF India

-- Melting scrap offers in Western India- Gujarat decline by INR 200/MT in a day trade activity.

Semi Finished

-- Induction grade billet (100*100 mm) export deals reported to Nepal at around USD 398-400/MT ex-mill at Durgapur, equivalent to USD 425/MT CPT Nepal.

-- SAIL received poor response in pig iron offers from Bhilai Steel Plant. The company alotted to sell about 20,000 MT basic grade pig iron at INR 28,200/MT ex-plant, however only about 2,000 MT bookings were made by local traders and furnaces as well. While, the remaining about 90% material remained unsold.

-- Rashmi Metaliks in Durgapur has kept sponge P-DRI offers firm at around INR 18,600/MT, as per sources.

-- Raipur sponge P-DRI offers firm at INR 18,600-700/MT ex-plant and around 4,000-5,000 MT deals reported by major suppliers. Further deals from Raigarh assessed at INR 18,800/MT FoR Raipur.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,300-18,400/MT ex-Bellary & around 1,000 MT deals reported in nearby market.

Rebar (12 mm)

-- Raipur based Real Ispat (GK TMT) is current offering at INR 35,400/MT.

-- Raigarh based Scan Group branding (Shrishti TMT) has unchanged their offer at INR 33,500/MT.

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 33,400/MT.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 35,700/MT (down by INR 300/MT).

-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 35,700/MT (down by INR 200/MT).

-- Gujarat based, Mono Steel (India) Ltd (Mono TMT) has unchanged their offer at INR 37,100/MT.

Wire Rod & Pipe

-- Wire rod offers remain firm in Raipur at INR 32,000-32,200/MT by traders & INR 32,300-32,500/MT through the manufacturers, ex-works. However in Durgapur offers drop by INR 100/MT to 32,400-33,000/MT ex-plant.

-- ERW Pipe Manufacturers have kept offers at firm level to INR 33,500/MT ex-Raipur, INR 36,800/MT ex-Mandi Gobindgarh & INR 33,600-33,800/MT ex-Rourkela.

Reference prices as on 21st February 2020

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	23,500	23,400	23,600	- 200	23,500	24,200
	Ex-Mumbai	HMS(80:20)	23,400	23,300	23,500	+ 100	22,400	23,200
	Ex-Chennai	HMS(80:20)	21,700	21,500	21,900	- 100	21,600	23,400
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	19,500	19,400	19,600	0	19,400	20,700
	Ex-Rourkela	Mix, FeM 80%, +/-1	18,600	18,500	18,700	- 100	18,750	19,500
	Ex-Raipur	Mix, FeM 80%, +/-1	19,500	19,400	19,600	0	19,400	20,600
	Ex-Bellary	Lumps, FeM 80%, +/-1	18,400	18,300	18,500	0	18,400	19,200
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	18,600	18,500	18,700	+ 50	18,400	19,750
	Ex-Raipur	Lumps, FeM 80%, +/-1	18,600	18,500	18,700	0	18,500	19,700
	Ex-Bellary	Lumps, FeM 80%, +/-1	18,300	18,200	18,400	0	18,500	18,900
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	18,900	18,800	19,000	0	19,000	19,500
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	31,600	31,500	31,700	+ 150	31,200	32,500
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	28,600	28,500	28,700	- 50	28,650	30,200
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	28,000	28,000	28,100	0	27,900	28,950
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	28,650	28,600	28,700	+ 100	28,450	29,550
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	30,500	30,400	30,600	0	29,700	32,000
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	32,000	31,900	32,100	+ 200	31,600	32,900
	Ex-Durgapur	100x100 mm, IS 2831	29,100	29,000	29,200	- 50	29,150	30,700
	Ex-Rourkela	100x100 mm, IS 2831	28,500	28,400	28,600	+ 100	28,150	29,500
	Ex-Raipur	100x100 mm, IS 2831	29,150	29,100	29,200	+ 50	28,800	30,100
	Ex-Ahmedabad	100x100 mm, IS 2831	30,900	30,800	31,000	0	30,700	32,900
	Ex-Mumbai	100x100 mm, IS 2831	30,900	30,800	31,000	0	30,100	32,300
	Ex-Chennai	100x100 mm, IS 2831	30,350	30,300	30,400	- 100	30,700	31,900
	Ex-Hyderabad	100x100 mm, IS 2831	30,500	30,400	30,600	0	30,500	31,300
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	35,300	35,100	35,400	- 100	35,100	36,800
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	33,000	32,800	33,200	0	33,000	34,600
	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	33,100	32,900	33,200	- 100	32,700	33,500
	Ex-Jalna	12-25 MM, IS 1786- 500 Fe	35,600	35,400	35,700	- 100	34,800	36,200
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	35,100	34,900	35,300	0	34,100	36,200
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	34,800	34,700	35,000	0	35,100	36,000
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	35,000	34,900	35,100	+ 300	34,400	35,000
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	32,500	32,400	33,000	- 100	32,500	34,700
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	32,300	32,100	32,500	0	32,100	33,700