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Daily Update: Indian Steel Market 23 Dec'19

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Semi Finished
By
BigMint Bureau
1069 Reads
23 Dec 2019, 18:47 IST
Daily Update: Indian Steel Market 23 Dec'19

Spot steel trades improved in Indian market, following which prices increased on day trade activities by INR 200-1,000/MT through the mid sized mills.

The billet prices rise majorly in Central region up to INR 1,000/MT (USD 14), while in remaining markets it surge by INR 100-800/MT, day on day.

In context to rebar prices rise by INR 200-900/MT & sponge iron by INR 400-600/MT, as per daily assessment made by SteelMint.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 27,800-31,300/MT (USD 391-441) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,000-19,600/MT (USD 253-276); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 23rd December 2019 (Monday) INR to USD exchange rate stood at INR 71.19.

-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 29,460/MT & last traded (IST 18:05 hrs) at INR 29,790/MT.

-- BSE Sensex closed at 41,642(-38) on Monday, as against last day (Thursday) at 41,681(+7).

-- NSE Nifty50 index was closed today at 12,266(-5) & Nifty Metal at 2,705(-2).

Raw Material

-- South African RB2 (5500 NAR) coal offers are assessed at USD 61/MT on FoB basis & USD 73.9/MT CNF India

-- Melting scrap offers in Western India- Jalna (Maharashtra) incline by INR 500/MT in a day trade activities.

Semi Finished

-- Raipur based mills sourcing sponge pellet from Odisha at around INR 18,700/MT FoR Raipur.

-- Billet deals learned at INR 28,700/MT FoR Raipur from Raigarh based manufacturers.

-- Rashmi Metaliks in Durgapur has increase P-DRI price by INR 400/MT to INR 18,100/MT, as per sources.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,100/MT ex-plant; an official reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,000-18,100/MT ex-Bellary & around 2,500 MT deals reported in local market.

-- BIOP Steels in South India has offered sponge C-DRI FeM 80 & 82 C-DRI lumps at INR 18,000/MT & INR 18,400/MT ex-plant, Karnataka; an official reported.

-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 18,000-18,200/MT ex-plant, an official reported.

Rebar (12 mm)

-- Raipur based Real Ispat (GK TMT) is current offering at INR 34,000/MT.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 34,000/MT.

-- Wardha based Sangam TMT is current offering at INR 32,900/MT.

-- J.R. Metal Chennai Ltd. (JR TMT) is current offering at INR 35,000/MT.

Wire Rod & Pipe

-- ERW Pipe Manufacturers have increased offers by INR 500-600/MT to INR 32,800-32,900/MT ex-Raipur, INR 33,000/MT ex-Rourkela & INR 35,300/MT ex-Mandi Gobindgarh.

Reference prices as on 23rd December 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 23,000 22,900 23,100 + 300 22,100 22,000
Ex-Mumbai HMS(80:20) 21,900 21,800 22,100 + 100 21,500 21,000
Ex-Chennai HMS(80:20) 21,900 21,800 22,000 + 100 21,600 20,500
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,000 18,900 19,100 + 400 18,000 18,050
Ex-Rourkela Mix, FeM 80%, +/-1 18,000 17,900 18,100 + 500 16,800 16,700
Ex-Raipur Mix, FeM 80%, +/-1 19,600 19,500 19,700 + 500 18,000 17,600
Ex-Bellary Lumps, FeM 80%, +/-1 18,100 18,000 18,200 + 550 16,900 16,800
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,000 17,900 18,100 + 400 17,000 17,050
Ex-Raipur Lumps, FeM 80%, +/-1 18,800 18,700 18,900 + 600 17,200 16,700
Ex-Bellary Lumps, FeM 80%, +/-1 18,000 17,900 18,000 + 650 16,800 16,700
Ex-Hyderabad Lumps, FeM 80%, +/-1 18,400 18,300 18,500 + 600 17,250 17,200
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 30,450 30,400 30,500 + 450 29,100 28,900
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 27,500 27,400 27,600 + 300 26,700 26,850
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 27,000 26,900 27,100 + 550 25,700 25,550
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 28,300 28,200 28,400 + 800 26,300 26,000
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 29,800 29,700 29,900 + 300 28,200 27,600
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 30,750 30,700 30,800 + 450 29,450 29,300
Ex-Durgapur 100x100 mm, IS 2831 28,000 27,900 28,100 + 400 27,000 27,050
Ex-Rourkela 100x100 mm, IS 2831 27,800 27,700 27,900 + 800 26,100 25,900
Ex-Raipur 100x100 mm, IS 2831 28,800 28,700 28,900 + 800 26,650 26,300
Ex-Ahmedabad 100x100 mm, IS 2831 31,300 31,300 31,500 + 700 29,000 28,500
Ex-Mumbai 100x100 mm, IS 2831 30,100 30,000 30,200 + 300 28,450 27,800
Ex-Chennai 100x100 mm, IS 2831 30,500 30,400 30,600 + 500 29,500 27,700
Ex-Hyderabad 100x100 mm, IS 2831 29,500 29,400 29,600 + 700 27,800 28,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 33,300 33,100 33,500 + 200 32,000 31,900
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 31,800 31,600 32,000 + 200 31,000 31,000
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 31,500 31,400 31,700 + 800 29,800 30,200
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 31,500 31,400 31,700 + 600 29,700 29,700
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 33,500 33,400 33,600 + 400 31,300 31,300
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 33,300 33,100 33,500 + 400 32,100 31,100
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 33,900 33,800 34,100 + 300 32,900 31,800
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 33,000 32,800 33,200 + 700 31,200 31,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 32,000 31,800 32,200 + 500 30,900 30,900
Ex-Raipur Wire Rod(5.5 MM) 32,600 32,400 33,300 + 700 30,400 30,200

Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research

23 Dec 2019, 18:47 IST

 

 

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