Daily Update: Indian Steel Market 26 Nov'19
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Indian steel prices drop on account of limited spot trades with the mid sized mills. On daily assessment, the Rebar & Billet prices plunged by INR 100-500/MT & Sponge iron by INR 100-200/MT.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,800-29,100/MT (USD 360-407) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-18,000/MT (USD 230-252); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 26th November 2019 (Tuesday) INR to USD exchange rate stood at INR 71.53.
-- ICEX (Indian Commodity Exchange Ltd) Dec'19 contract for STEELLONG today open at INR 27,860/MT & last traded (IST 18:11 hrs) at INR 27,520/MT.
-- BSE Sensex closed at 40,821(-67) on Tuesday, as against last day (Monday) at 40,889(+529).
-- NSE Nifty50 index was closed today at 12,037(-36) & Nifty Metal at 2,580(-21).
Raw Material
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 133.75/MT FoB Australia & USD 147.25/MT CNF India.
-- South African RB2 (5500 NAR) coal offers are assessed at USD 62.1/MT on FoB basis & USD 74.89/MT CNF India
-- Melting scrap offers in Western India- Jalna (Maharashtra) decline by INR 300/MT in a day trade activities
-- Silicon Manganese (60-14) trade reference prices in Raipur are hovering at INR 56,500-57,000/MT ex-plant.
Semi Finished
-- India's state owned steel maker under the Ministry of Steel -Vizag Steel had concluded the two lots (15,000 MT each) of billet export for 150*150 mm at around USD 400/MT, FoB.
-- Mesco Steels in Jajpur, Odisha has kept steel grade pig iron prices firm at INR 22,700/MT ex-plant.
-- Rashmi Metaliks in Durgapur has slightly lower sponge P-DRI price by INR 100/MT to INR 17,000/MT ex-plant, as per sources.
-- Raipur based a major sponge manufacturer has sold about 1,000 tons P-DRI on reduce price by INR 100/MT to INR 16,600-16,700/MT; ex-plant.
-- Neo Metaliks in Durgapur has slashed steel grade pig iron price by INR 100/MT to INR 24,000-24,100/MT ex-plant.
-- Central India, Raigarh based sponge manufacturers have concluded limited deals today for Raipur & P-DRI offers at around INR 16,700/MT FoR.
-- BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 16,700/MT & INR 17,100/MT ex-plant, Karnataka; an official reported.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,800/MT ex-Bellary, an official reported. And added a deal of around 7,000 MT P-DRI concluded for Hyderabad.
-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 16,800-17,000/MT ex-plant, an official reported.
Rebar (12 mm)
-- Rathi Steels based in North region has unchanged their offer at INR 33,000/MT.
-- Raipur based Real Ispat (GK TMT) is offering at INR 32,300/MT ( down by INR 400/MT).
-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 30,000/MT (down by INR 200/MT).
-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offer at INR 31,500/MT.
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 31,200/MT.
-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is current offering at INR 32,500/MT FoR.
Wire Rod & Pipe
-- APL Apollo Tubes Ltd, has increased ERW Pipe price by INR 500/MT yesterday to INR 38,500/MT (USD 537); ex-plant in central India, Chhattisgarh.
-- ERW Pipe Manufacturers in North, East & Central India have kept their offers at firm level in a day trade activities. Offers reported at INR 30,600-30,700/MT ex-Raipur, INR 30,500/MT ex-Rourkela & INR 34,200/MT ex-Mandi Gobindgarh & excluding GST.
-- SAIL's Central India based Bhilai Steel Plant (BSP) is offering 5.5 mm wire rod at around INR 31,500/MT ex-work.
-- Trade discounts in Raipur wire rod through the traders were at INR 1,500-1,700/MT & by mills at INR 900-1,100/MT; meanwhile base prices remain firm at INR 31,200/MT ex-Raipur & INR 30,800-30,900/MT ex-Durgapur.
Reference prices as on 26th November 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,900 | 21,800 | 22,000 | - 100 | 21,900 | 21,800 |
| Ex-Mumbai | HMS(80:20) | 21,000 | 20,900 | 21,200 | 0 | 21,500 | 20,900 | |
| Ex-Chennai | HMS(80:20) | 20,300 | 20,200 | 20,500 | - 200 | 20,400 | 19,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,950 | 17,900 | 18,000 | - 100 | 17,800 | 17,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,550 | 16,500 | 16,600 | - 150 | 16,500 | 16,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | - 100 | 17,300 | 16,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 16,600 | 16,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,950 | 16,900 | 17,000 | - 100 | 16,800 | 15,950 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | - 100 | 16,400 | 15,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | 0 | 16,500 | 16,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | 0 | 17,000 | 16,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,700 | 28,600 | 28,800 | - 200 | 28,400 | 28,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,700 | 26,600 | 26,800 | - 150 | 26,500 | 26,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,500 | 25,400 | 25,600 | - 50 | 25,400 | 25,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,950 | 25,900 | 26,000 | - 50 | 25,850 | 25,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,400 | 27,300 | 27,500 | - 200 | 27,300 | 27,900 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 29,050 | 29,000 | 29,100 | - 250 | 28,800 | 28,400 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 26,900 | 26,800 | 27,000 | - 150 | 26,800 | 26,400 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 25,800 | 25,700 | 25,900 | - 100 | 25,700 | 25,500 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 26,250 | 26,200 | 26,300 | - 50 | 26,100 | 26,200 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 28,450 | 28,400 | 28,500 | - 50 | 28,200 | 28,550 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 27,600 | 27,500 | 27,700 | - 200 | 27,500 | 28,100 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 27,700 | 27,500 | 27,800 | 0 | 27,700 | 27,300 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | - 500 | 27,000 | 26,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 32,000 | - 100 | 32,100 | 32,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,200 | 0 | 30,900 | 30,200 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,000 | 29,900 | 30,100 | - 200 | 30,100 | 30,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,600 | 29,500 | 29,800 | - 100 | 29,700 | 29,800 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | - 200 | 31,200 | 30,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | 0 | 31,100 | 31,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,700 | 31,500 | 31,900 | - 100 | 31,500 | 30,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,100 | - 500 | 30,700 | 30,200 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,900 | 30,800 | 31,500 | 0 | 30,500 | 29,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,200 | 29,600 | 31,200 | 0 | 30,100 | 30,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
