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Daily Update: Indian Steel Market 25 Feb'20

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By
BigMint Bureau
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25 Feb 2020, 18:22 IST
Daily Update: Indian Steel Market 25 Feb'20

Indian sponge iron, billet & rebar prices remained volatile by INR 100-300/MT in major locations on account subdued demand & sufficient supply.

However in Maharashtra (western India) rebar prices climbed by INR 500-700/MT today to match price range from different regions on account of recent change in gauge parity, which has also supported billet price hike.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 28,700-32,100/MT (USD 399-447) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,400-19,600/MT (USD 256-273); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 25th February 2020 (Tuesday) INR to USD exchange rate stood at INR 71.79.

-- ICEX (Indian Commodity Exchange Ltd) Mar'20 contract for STEELLONG today open at INR 31,720/MT & last traded (IST 18:18 hrs) at INR 31,620/MT.

-- BSE Sensex closed at 40,281(-82) on Tuesday, as against last day (Monday) at 40,363(-806).

-- NSE Nifty50 index was closed today at 11,813(-16) & Nifty Metal at 2,474(+4).

Raw Material

-- Melting scrap offers in Western India- Jalna (Maharashtra) incline by INR 300/MT in a day trade activity.

-- South African RB2 (5500 NAR) coal offers are assessed at USD 60/MT on FoB basis & USD 74/MT CNF India

Semi Finished

-- Induction grade billet (100*100 mm) export offers slightly up by USD 2/MT to USD 400-402/MT ex-mill at Durgapur, equivalent to USD 425-428/MT CPT Nepal.

-- Rashmi Metaliks in Durgapur has slightly raised sponge P-DRI offers by INR 100/MT to INR 18,600-18,700/MT, as per sources.

-- Raipur sponge offers remained under pressure on account of power cuts in Raigarh which in turn drop in furnaces production by more than 50%. About 3,000-4,000 MT P-DRI deals learned at INR 18,600-18,700/MT ex-plant, Raipur.

-- Neo Metaliks in Durgapur is receiving less participation in Pig iron offers of INR 27,500-27,700/MT ex-plant, as mentioned by officials.

-- SAIL has schedule an auction to sale of about 2,200 MT basic grade Pig iron on 26th Feb'20 from its Rourkela Steel Plant (RSP).

-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 18,400/MT ex-plant, an official reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,200-18,300/MT ex-Bellary & around 2,000 MT deals reported in nearby market.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 18,400/MT & INR 18,800/MT ex-plant, Karnataka & no major deals reported.

Rebar (12 mm)

-- Rathi Steels based in North region is current offering at INR 36,700/MT.

-- Muzaffarnagar based Sarvottam Rolling Mills Pvt. Ltd.(Paras TMT) is current offering at INR 34,200/MT.

-- Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 35,400/MT.

-- Raipur based Kamdhenu TMT is current offering at INR 35,600/MT.

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) has unchanged their offer at INR 33,400/MT.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 36,200/MT (up by INR 500/MT).

-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offer at INR 37,200/MT FoR.

Wire Rod & Pipe

-- Raipur Wire rod offers up by INR 200/MT and assessed at INR 32,400-32,500/MT by traders & INR 32,600-32,700/MT through the manufacturers, ex-works. However in Durgapur offers down by INR 100/MT to 32,300-32,800/MT ex-plant.

-- ERW Pipe Manufacturers have kept offers at firm level to INR 33,800/MT ex-Raipur, INR 36,700/MT ex-Mandi Gobindgarh & INR 33,800-34,000/MT ex-Rourkela.

Reference prices as on 25th February 2020

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 23,900 23,800 24,000 + 100 24,100 23,900
Ex-Mumbai HMS(80:20) 23,600 23,400 23,700 + 100 23,100 22,900
Ex-Chennai HMS(80:20) 21,700 21,500 21,800 0 21,800 23,100
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,450 19,400 19,400 + 50 19,600 20,400
Ex-Rourkela Mix, FeM 80%, +/-1 18,700 18,600 18,800 0 18,800 19,200
Ex-Raipur Mix, FeM 80%, +/-1 19,600 19,500 19,700 0 19,600 20,100
Ex-Bellary Lumps, FeM 80%, +/-1 18,400 18,300 18,500 0 18,500 19,000
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,550 18,500 18,600 + 50 18,650 19,400
Ex-Raipur Lumps, FeM 80%, +/-1 18,650 18,600 18,800 - 50 18,600 19,150
Ex-Bellary Lumps, FeM 80%, +/-1 18,200 18,100 18,300 - 100 18,400 18,700
Ex-Hyderabad Lumps, FeM 80%, +/-1 18,800 18,700 18,900 - 100 18,900 19,300
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 31,750 31,700 31,800 + 50 31,400 32,100
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 28,600 28,500 28,700 0 28,750 29,800
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 28,300 28,200 28,400 0 28,100 28,500
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 28,900 28,800 29,000 0 28,500 29,000
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 31,100 31,000 31,200 + 600 30,800 31,200
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 32,100 32,000 32,200 + 100 31,800 32,500
Ex-Durgapur 100x100 mm, IS 2831 29,250 29,200 29,300 + 50 29,250 30,300
Ex-Rourkela 100x100 mm, IS 2831 28,700 28,600 28,800 0 28,600 29,000
Ex-Raipur 100x100 mm, IS 2831 29,300 29,200 29,400 0 29,100 29,550
Ex-Ahmedabad 100x100 mm, IS 2831 31,300 31,200 31,400 + 100 31,100 32,000
Ex-Mumbai 100x100 mm, IS 2831 31,500 31,400 31,600 + 600 31,200 31,500
Ex-Chennai 100x100 mm, IS 2831 30,600 30,500 30,800 0 30,800 31,700
Ex-Hyderabad 100x100 mm, IS 2831 30,800 30,500 31,000 0 31,000 31,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 35,700 35,500 35,800 - 100 35,600 36,300
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 33,100 32,900 33,300 0 33,400 34,100
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 33,000 32,900 33,100 0 33,200 33,500
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 33,000 32,900 33,100 0 33,400 33,400
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 36,200 36,100 36,400 + 700 35,900 35,900
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 35,500 35,300 35,700 + 400 35,100 36,000
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 34,900 34,700 35,100 0 34,900 35,700
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 35,000 34,900 35,100 0 35,100 34,700
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 32,400 32,300 32,800 - 100 32,900 34,000
Ex-Raipur Wire Rod(5.5 MM) 32,600 32,400 32,900 + 100 32,600 33,100

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

25 Feb 2020, 18:22 IST

 

 

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