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Daily Update: Indian Steel Market 23 Jan'20

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By
BigMint Bureau
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23 Jan 2020, 18:42 IST
Daily Update: Indian Steel Market 23 Jan'20

Spot steel trades improved in Indian market, following which prices increased in today's trade activities. P-DRI prices in major markets moved up by INR 200-400/MT and billet prices by INR 300-1,000/MT.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 29,300-32,700/MT (USD 410-459) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-20,700/MT (USD 267-290); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 23rd January 2020 (Thursday) INR to USD exchange rate stood at INR 71.28.

-- ICEX (Indian Commodity Exchange Ltd) Feb'20 contract for STEELLONG today open at INR 32,090/MT & last traded (IST 18:38 hrs) at INR 32,360/MT.

-- BSE Sensex closed at 41,386(+271) on Thursday, as against last day (Wednesday) at 41,115(-208).

-- NSE Nifty50 index was closed today at 12,180(+73) & Nifty Metal at 2,769(+12).

Raw Material

-- An Odisha based pellet maker has concluded pellet export deal for around 55,000 MT pellet to China for end Feb'20 shipment at around USD 126-127/MT, CFR for Fe 64% pellets with 3% Al.

-- South African RB2 (5500 NAR) coal offers are assessed at USD 65.2/MT on FoB basis & USD 77.2/MT CNF India

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 152.5/MT FoB Australia & USD 166.3/MT CNF India.

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

Semi Finished

-- Indian sponge iron export offers to Bangladesh plunged by USD 10/MT and latest offers reported at USD 300/MT CPT Benapole, equivalent to USD 315-320/MT CFR Chittagong, Bangladesh.

-- Electrosteels in Bokaro, Jharkhand has offered steel grade pig iron at INR 28,000/MT ex-plant.

-- Billet deals learned at INR 29,900/MT FoR Raipur from Raigarh based manufacturers.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered Billet at INR 29,100-29,200/MT ex-plant.

-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 19,800/MT & Billet at INR 31,800/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,600-18,800/MT ex-Bellary & around 8,000 MT deals reported in nearby market.

-- BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 19,100/MT & INR 19,600/MT ex-plant, Karnataka; an official reported.

Rebar (12 mm)

-- Rathi Steels based in North region is offering at INR 37,100/MT (up by INR 400/MT).

-- Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 35,000/MT

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 36,300/MT (up by INR 800/MT).

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is current offering at INR 36,300/MT.

-- South region Chennai based Suryadev Alloys and Power Limited(Best TMT) is current offering at INR 36,500/MT.

-- Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,700-33,800/MT.

Wire Rod & Pipe

-- ERW Pipe Manufacturers have increased offers by INR 300-600/MT to INR 34,400-34,500/MT ex-Raipur, INR 36,700/MT ex-Mandi Gobindgarh & INR 34,700-34,800/MT ex-Rourkela.

Reference prices as on 23rd January 2020

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 23,800 23,700 23,900 + 200 24,100 23,500
Ex-Mumbai HMS(80:20) 23,000 22,800 23,100 + 200 23,000 22,500
Ex-Chennai HMS(80:20) 23,400 23,200 23,500 - 100 NA 22,200
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,650 20,600 20,700 + 350 20,300 19,700
Ex-Rourkela Mix, FeM 80%, +/-1 19,300 19,200 19,400 + 300 19,550 18,700
Ex-Raipur Mix, FeM 80%, +/-1 20,400 20,300 20,500 + 200 20,600 20,100
Ex-Bellary Lumps, FeM 80%, +/-1 19,100 19,100 19,200 - 100 19,600 18,900
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,700 19,600 19,800 + 300 19,400 18,700
Ex-Raipur Lumps, FeM 80%, +/-1 19,400 19,300 19,500 + 200 19,600 19,200
Ex-Bellary Lumps, FeM 80%, +/-1 18,700 18,600 18,800 0 19,250 18,700
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,400 19,300 19,500 0 19,700 19,000
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 32,200 32,100 32,300 + 700 32,100 31,200
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 30,000 29,900 30,100 + 400 29,700 28,600
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 28,700 28,600 28,800 + 400 28,900 28,200
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 29,300 29,200 29,400 + 700 29,350 28,800
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 31,800 31,700 31,900 + 800 32,300 30,900
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 32,700 32,600 32,800 + 700 32,500 31,550
Ex-Durgapur 100x100 mm, IS 2831 30,450 30,400 30,500 + 250 30,250 29,100
Ex-Rourkela 100x100 mm, IS 2831 29,300 29,200 29,400 + 600 29,350 28,600
Ex-Raipur 100x100 mm, IS 2831 29,800 29,700 29,900 + 750 29,800 29,300
Ex-Ahmedabad 100x100 mm, IS 2831 32,500 32,400 32,600 + 500 32,700 32,450
Ex-Mumbai 100x100 mm, IS 2831 32,200 32,100 32,300 + 800 32,600 31,300
Ex-Chennai 100x100 mm, IS 2831 31,500 31,500 31,700 - 700 32,500 31,200
Ex-Hyderabad 100x100 mm, IS 2831 31,000 30,900 31,100 + 500 31,300 30,300
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 36,100 35,900 36,200 + 400 36,500 33,800
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 34,500 34,300 34,700 + 600 34,300 32,800
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 33,700 33,600 33,800 + 400 33,900 32,800
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 33,300 33,200 33,400 + 500 33,800 32,500
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 36,100 36,100 36,300 + 700 36,500 34,700
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 36,200 36,000 36,400 + 400 36,700 34,400
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 35,900 35,800 36,200 0 36,100 34,600
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 34,700 34,600 34,800 + 500 35,000 33,800
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 34,400 34,300 34,700 + 200 34,500 33,000
Ex-Raipur Wire Rod(5.5 MM) 33,300 33,100 34,100 + 400 33,900 33,100

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

23 Jan 2020, 18:42 IST

 

 

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