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Daily Update: Indian Steel Market 24 Dec'19

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By
BigMint Bureau
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24 Dec 2019, 18:52 IST
Daily Update: Indian Steel Market 24 Dec'19

Indian mid sized mills have further raised prices on active trade activities and as per assessment the prices rallied by INR 100-800/MT D-o-D.

As per daily assessment, the Rebar & Billet prices surge by INR 200-800/MT & while Sponge iron by INR 100-300/MT in major markets of Central, East, North & Western India.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 27,900-32,100/MT (USD 391-451) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,200-19,700/MT (USD 255-277); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 24th December 2019 (Tuesday) INR to USD exchange rate stood at INR 71.27.

-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 29,700/MT & last traded (IST 18:34 hrs) at INR 29,740/MT.

-- BSE Sensex closed at 41,461(-181) on Tuesday, as against last day (Monday) at 41,642(-38).

-- NSE Nifty50 index was closed today at 12,212(-50) & Nifty Metal at 2,720(+14).

Raw Material

-- KIOCL Limited (formerly known as Kudremukh Iron Ore Company Limited) has invited a tender for supply 50,000 MT iron ore fines from reputed Indigenous Iron ore suppliers.Tender due on 30-Dec-2019 at 14:00 Hrs.

-- Melting scrap offers in Western India- Gujarat incline by INR 300/MT in a day trade activities.

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-- TATA Metaliks has raised basic (steel) grade Low Silicon (1-1.5%) pig iron price by INR 700/MT to INR 26,500/MT (USD 372).

-- Induction grade billet export offers to Nepal further surge and assessed at around USD 390-395/MT ex-mill at Durgapur, equivalent to USD 415-420/MT CPT Nepal.

-- As per sources, Neo Metails in Durgapur has raised steel grade pig iron price by INR 200/MT to INR 25,300-25,500/MT ex-plant.

-- Raipur based sponge P-DRI manufacturers have kept prices steady at INR 18,800/MT ex-plant; however deals remained limited as landed cost from Raigarh was similar.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,200/MT ex-plant; an official reported.

-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 19,000/MT, ex-plant & excluding GST.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,300/MT ex-Bellary, an official reported.

-- BIOP Steels in South India has offered sponge C-DRI FeM 80 & 82 C-DRI lumps at INR 18,500/MT & INR 18,900/MT ex-plant, Karnataka; an official reported.

Rebar (12 mm)

-- East region based Adhunik Alloys & Pvt Ltd is offering at INR 32,300/MT.

-- Raipur based Real Ispat (GK TMT) is current offering at INR 34,600/MT.

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 32,600/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 35,900/MT FoR.

-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is current offering at INR 34,500/MT.

-- Chennai based ARS Steel (Trusteel - 550D) is currently offering at INR 35,600/MT.

Wire Rod & Pipe

-- Trade discount in Raipur wire rod stands at INR 700-1,000/MT, meanwhile base prices up by INR 400/MT to INR 33,700/MT ex-plant.

-- ERW Pipe Manufacturers have increased offers by INR 500-700/MT to INR 33,500-33,600/MT ex-Raipur & INR 35,700/MT ex-Mandi Gobindgarh.

Reference prices as on 24th December 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 23,200 23,100 23,300 + 200 22,200 21,900
Ex-Mumbai HMS(80:20) 22,200 22,100 22,300 + 300 21,500 21,000
Ex-Chennai HMS(80:20) 22,100 21,900 22,300 + 200 21,600 20,300
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,200 19,100 19,300 + 200 18,100 17,950
Ex-Rourkela Mix, FeM 80%, +/-1 18,200 18,100 18,300 + 200 16,900 16,550
Ex-Raipur Mix, FeM 80%, +/-1 19,700 19,600 19,800 + 100 18,300 17,500
Ex-Bellary Lumps, FeM 80%, +/-1 18,400 18,300 18,500 + 300 17,000 16,800
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,200 18,100 18,300 + 200 17,100 16,950
Ex-Raipur Lumps, FeM 80%, +/-1 18,800 18,700 18,900 0 17,400 16,600
Ex-Bellary Lumps, FeM 80%, +/-1 18,200 18,100 18,300 + 200 16,900 16,700
Ex-Hyderabad Lumps, FeM 80%, +/-1 18,600 18,500 18,700 + 200 17,400 17,200
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 30,600 30,500 30,700 + 150 29,200 28,700
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 27,700 27,600 27,800 + 200 26,800 26,700
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 27,400 27,300 27,500 + 400 25,900 25,500
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 28,300 28,200 28,400 0 26,550 25,950
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 30,600 30,500 30,800 + 800 28,400 27,400
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 30,900 30,800 31,000 + 150 29,600 29,050
Ex-Durgapur 100x100 mm, IS 2831 28,200 28,100 28,300 + 200 27,100 26,900
Ex-Rourkela 100x100 mm, IS 2831 27,900 27,800 28,000 + 100 26,250 25,800
Ex-Raipur 100x100 mm, IS 2831 28,800 28,700 28,900 0 27,050 26,250
Ex-Ahmedabad 100x100 mm, IS 2831 32,100 32,000 32,200 + 800 29,300 28,450
Ex-Mumbai 100x100 mm, IS 2831 30,800 30,700 31,000 + 700 28,600 27,600
Ex-Chennai 100x100 mm, IS 2831 30,700 30,700 30,900 + 200 29,600 27,700
Ex-Hyderabad 100x100 mm, IS 2831 29,800 29,500 30,000 + 300 28,000 27,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 33,500 33,300 33,700 + 200 32,400 31,800
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 32,200 32,000 32,400 + 400 31,200 31,000
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 32,200 32,100 32,400 + 700 30,100 30,000
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 32,000 31,900 32,300 + 500 30,100 29,600
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 34,100 34,100 34,400 + 600 31,900 31,100
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 34,000 33,900 34,200 + 700 32,200 31,100
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 34,200 34,100 34,500 + 300 33,100 31,700
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 33,200 33,000 33,400 + 200 31,500 31,000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 32,200 32,100 32,400 + 200 31,200 30,900
Ex-Raipur Wire Rod(5.5 MM) 32,900 32,700 33,700 + 300 30,800 30,200

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

24 Dec 2019, 18:52 IST

 

 

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