Daily Update: Indian Steel Market 21 Oct'19
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Indian Semis trade slow down on the wake of weak demand in finished steel products. Inline the price fall seen in Sponge iron & Billet by INR 100-400/MT & Rebar upto INR 500/MT, day on day.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-28,900/MT (USD 362-408) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,300-16,900/MT (USD 229-238); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 21st October 2019 (Monday) INR to USD exchange rate stood at INR 70.88.
-- ICEX (Indian Commodity Exchange Ltd) Nov'19 contract for STEELLONG today open at INR 28,000/MT & last traded (IST 18:06 hrs) at INR 27,840/MT.
Raw Materials
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 127/MT FoB Australia & USD 167.6/MT CNF India.
Semi Finished
-- Indian sponge iron (80 FeM, 100% lumps) export offers to Bangladesh declined and stood at around USD 255/MT CPT Benapole, equivalent to USD 270/MT CFR Chittagong, Bangladesh.
-- RINL has invited a tender for export of 8,127 MT Billets, 5,418 MT Bloom and 8,127 MT Wire Rod. Due date of tender was 24 Oct'19 and material delivery has been scheduled on 15 Nov'19
-- Raipur based sponge P-DRI producers have kept offers firm at INR 15,600-15,700/MT ex-plant. However, DR-CLO grade sponge prices drop by INR 200/MT to INR 17,700/MT (ex-plant). As per producers buying remained limited due to slump billet prices.
-- Raigarh based Singhal Steel offered billet at INR 26,200-26,300/MT FoR Raipur, officials reported.
-- Rashmi Metaliks in Durgapur has lowered sponge P-DRI prices by INR 100/MT to INR 15,700/MT, as per sources
-- Neo Metaliks has kept pig iron offers firm and reported steel grade material at around INR 23,400/MT ex-Durgapur.
-- As per officials from Electrosteels deals are taking place for steel grade pig iron at around INR 23,000/MT ex-Bokaro, Jharkhand.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,000-16,100/MT ex-Bellary, offers decline by INR 100/MT from the last trade; an official reported.
-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,500/MT & INR 16,900/MT ex-plant, Karnataka. However, no major buyer at the offer price, report from the officials.
Rebar (12 mm)
-- Rathi Steels based in North region is offering at INR 33,300/MT (down by INR 600/MT).
-- Raipur based Real Ispat (GK TMT) is offering at INR 32,800/MT ( down by INR 400/MT).
-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 31,000/MT (down by INR 100/MT).
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 31,500/MT.
-- Gujarat based Diamond TMT has unchanged their offers at INR 32,000/MT.
-- Chennai based J.R. Metal Chennai Ltd. (JR TMT) is current offering around INR 31,500/MT.
Wire Rod & Pipe
-- ERW Pipe Manufacturers have reduced their offers by around INR 200-300/MT in a day trade activities over less sales. Offers reported at INR 30,500-30,600/MT ex-Raipur, INR 33,100-33,200/MT ex-Mandi Gobindgarh & INR 30,800-31,000/MT ex-Rourkela.
-- Trade discounts in Raipur Wire rod is hovering at INR 1,100-1,200/MT by re-sellers & INR 800-900/MT through the manufacturers. However base prices drop by INR 200/MT to INR 31,500/MT ex-Raipur & INR 29,800-30,700/MT ex-Durgapur.
Reference prices as on 21st October 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,400 | 21,300 | 21,500 | - 100 | 21,600 | 21,700 |
| Ex-Mumbai | HMS(80:20) | 20,700 | 20,600 | 20,800 | 0 | 20,500 | 21,200 | |
| Ex-Chennai | HMS(80:20) | 19,200 | 19,100 | 19,400 | - 100 | 19,100 | 20,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,900 | 16,800 | 17,000 | - 100 | 16,700 | 17,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | 0 | 16,150 | 16,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | - 100 | 16,700 | 17,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | - 50 | 16,100 | 16,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,700 | 15,600 | 15,800 | - 50 | 15,500 | 16,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,600 | 15,500 | 15,700 | - 100 | 15,650 | 16,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | 0 | 15,700 | 16,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,200 | 16,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,700 | 28,600 | 28,800 | - 100 | 28,600 | 29,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 25,800 | 25,700 | 25,900 | - 200 | 26,100 | 27,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,400 | 25,300 | 25,500 | - 300 | 25,350 | 26,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,850 | 25,800 | 25,900 | - 150 | 25,700 | 26,550 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,900 | 27,800 | 27,900 | - 100 | 27,500 | 27,550 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 28,900 | 28,800 | 29,000 | - 100 | 28,800 | 29,200 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 26,100 | 26,000 | 26,200 | - 200 | 26,400 | 27,200 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 25,800 | 25,700 | 25,900 | - 300 | 25,700 | 26,600 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 26,200 | 26,100 | 26,300 | - 300 | 26,150 | 26,900 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 27,850 | 27,800 | 27,900 | - 100 | 28,200 | 27,600 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 28,200 | 28,100 | 28,200 | - 100 | 27,750 | 27,800 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | - 300 | 27,100 | 27,400 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 26,500 | 26,400 | 26,600 | - 300 | 26,000 | 27,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 32,300 | 32,200 | 32,500 | - 500 | 32,200 | 32,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,400 | 30,200 | 30,600 | - 100 | 30,000 | 31,300 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,700 | 30,600 | 30,800 | - 200 | 30,500 | 31,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,100 | 30,000 | 30,200 | - 100 | 29,900 | 30,900 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,200 | 0 | 30,900 | 31,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,400 | 31,300 | 31,600 | 0 | 30,900 | 30,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,100 | - 200 | 31,300 | 31,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,900 | 30,100 | - 300 | 30,000 | 30,800 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 29,900 | 29,800 | 30,700 | - 200 | 29,800 | 31,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,600 | 30,300 | 31,500 | - 200 | 30,200 | 30,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
