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Daily Update: Indian Steel Market 24 Jan'20

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Semi Finished
By
BigMint Bureau
999 Reads
24 Jan 2020, 18:17 IST
Daily Update: Indian Steel Market 24 Jan'20

Indian Semi-finished offers rise further on daily basis, Sponge iron by INR 100-300/MT & Billet by INR 100-400/MT across major markets.

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 19,200-20,700/MT (USD 269-290); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 24th January 2020 (Friday) INR to USD exchange rate stood at INR 71.30.

-- ICEX (Indian Commodity Exchange Ltd) Feb'20 contract for STEELLONG today open at INR 32,580/MT & last traded (IST 18:03 hrs) at INR 32,730/MT.

-- BSE Sensex closed at 41,613(+226) on Friday, as against last day (Thursday) at 41,386(+271).

-- NSE Nifty50 index was closed today at 12,248(+67) & Nifty Metal at 2,796(+26).

Raw Material

-- Melting scrap offers in Western India- Gujarat incline by INR 400/MT in a day trade activity.

Semi Finished

-- Indian mid scale mills export demand remains average and offer stands at around USD 450/MT for Billet & USD 505/MT for Wire rod, CPT Nepal.

-- Raipur based manufacturers have raised Sponge P-DRI offers by INR 200/MT to INR 19,600-19,800/MT, however no major deals due to healthy bookings yesterday at near to INR 19,500/MT; ex-plant.

-- Rashmi Metaliks in Durgapur has offers Sponge P-DRI at around INR 19,800/MT, as per market sources.

-- Jindal Steel has reduced steel grade pig iron price to INR 28,900-29,000/MT ex-Raigarh, this landed cost to Raipur would be around INR 29,500-29,600/MT on FoR basis.

-- Neo Metaliks in Durgapur offering steel grade pig iron at INR 28,100-200/MT, however no major inquireis as per officials.

-- Odisha based sponge supplier sold around 500-1,000 MT FeM 80 C-DRI lumps to Jalna (Maharashtra) at around INR 22,200/MT FoR Jalna.

-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 20,000/MT & Billet at INR 32,000/MT ex-plant.

-- BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 19,100/MT & INR 19,600/MT ex-plant & around 2,000 MT deals reported in Hyderabad & Silvasa market.

-- BMM Ispat, a renowned sponge manufacturer decreased offers by INR 100/MT for FeM 80 P-DRI lumps to INR 18,900/MT ex-Bellary; an official reported.

Rebar (12 mm)

-- Rathi Steels based in North region is offering at INR 37,900/MT (up by INR 800/MT).

-- Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 35,500/MT (up by INR 500/MT).

-- Raipur based Real Ispat (GK TMT) is current offering at INR 35,800/MT.

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 34,200/MT.

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

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offer at INR 36,300/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 38,700/MT FoR.

Wire Rod & Pipe

-- ERW Pipe Manufacturers have increased offers by INR 100-200/MT to INR 34,500/MT ex-Raipur, INR 36,800/MT ex-Mandi Gobindgarh & INR 35,000/MT ex-Rourkela.

-- Trade discount in Raipur wire rod stood at around INR 800-1,000/MT & base price surge by INR 400/MT to INR 34,500/MT ex-plant. Also, in Durgapur trade reference price up by INR 300/MT to INR 34,600-35,000/MT ex-plant.

Reference prices as on 24th January 2020

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 24,200 24,100 24,300 + 400 24,100 23,700
Ex-Mumbai HMS(80:20) 23,200 23,100 23,300 + 200 23,100 22,500
Ex-Chennai HMS(80:20) 23,400 23,200 23,500 0 NA 22,200
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,700 20,600 20,800 + 50 20,400 19,750
Ex-Rourkela Mix, FeM 80%, +/-1 19,500 19,400 19,600 + 200 19,600 18,900
Ex-Raipur Mix, FeM 80%, +/-1 20,600 20,500 20,700 + 200 20,600 20,000
Ex-Bellary Lumps, FeM 80%, +/-1 19,200 19,100 19,300 + 100 19,500 18,900
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,750 19,700 19,800 + 50 19,500 18,750
Ex-Raipur Lumps, FeM 80%, +/-1 19,700 19,600 19,800 + 300 19,600 19,000
Ex-Bellary Lumps, FeM 80%, +/-1 18,900 18,800 19,000 + 200 19,200 18,700
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,500 19,400 19,600 + 100 19,700 19,200
Ingot Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 36,800 36,600 37,000 + 700 36,200 34,000
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 34,600 34,400 34,800 + 100 34,300 33,100
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 33,700 33,600 33,800 0 33,900 33,000
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 33,500 33,400 33,600 + 200 33,600 32,600
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 36,200 36,100 36,300 + 100 36,400 35,000
Billet Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 36,200 36,000 36,400 0 36,700 34,500
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 36,000 35,800 36,200 + 100 NA 34,700
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 35,000 34,900 35,100 + 300 34,900 34,000
Ex-Durgapur Wire Rod(5.5 MM) 34,700 34,600 35,000 + 300 34,500 33,200
Ex-Raipur Wire Rod(5.5 MM) 33,700 33,500 34,500 + 400 33,600 33,300
Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 32,500 32,400 32,600 + 300 32,200 31,200
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 30,200 30,100 30,300 + 200 30,000 28,750
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 28,950 28,900 29,000 + 250 29,100 28,300
TMT Ex-Raipur 3.5 x 4.5 Inch, IS 2830 29,550 29,500 29,600 + 250 29,500 28,700
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 32,000 31,900 32,100 + 200 32,100 31,000
Ex-Mandi Gobindgarh 100x100 mm, IS 2831 32,900 32,800 33,000 + 200 32,700 31,700
Ex-Durgapur 100x100 mm, IS 2831 30,700 30,600 30,800 + 250 30,500 29,200
Ex-Rourkela 100x100 mm, IS 2831 29,500 29,400 29,600 + 200 29,600 28,700
Ex-Raipur 100x100 mm, IS 2831 30,100 30,000 30,200 + 300 29,900 29,200
Ex-Ahmedabad 100x100 mm, IS 2831 32,900 32,800 33,000 + 400 32,800 31,900
Ex-Mumbai 100x100 mm, IS 2831 32,300 32,200 32,400 + 100 32,400 31,300
Wire Rod Ex-Chennai 100x100 mm, IS 2831 31,900 31,800 32,000 + 400 32,500 31,200
Ex-Hyderabad 100x100 mm, IS 2831 31,300 31,000 31,500 + 300 31,300 30,500

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

24 Jan 2020, 18:17 IST

 

 

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