Go to List

Daily Update: Indian Steel Market 27 Feb'20

...

Semi Finished
By
BigMint Bureau
738 Reads
27 Feb 2020, 18:38 IST
Daily Update: Indian Steel Market 27 Feb'20

Indian Semi finished steel prices fall marginally by INR 100-300/MT today on limited inquiries from the local mills.

In context to Finished long (Rebar), prices marginally fluctuated by INR 100-200/MT in major locations.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 28,700-32,100/MT (USD 400-448) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,300-19,400/MT (USD 255-271); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 27th February 2020 (Thursday) INR to USD exchange rate stood at INR 71.63.

-- ICEX (Indian Commodity Exchange Ltd) Mar'20 contract for STEELLONG today open at INR 31,610/MT & last traded (IST 18:18 hrs) at INR 31,790/MT.

-- BSE Sensex closed at 39,745 (-143) on Thursday, as against last day (Wednesday) at 39,889 (-392).

-- NSE Nifty50 index was closed today at 11,633(-45) & Nifty Metal at 2,410(-19).

Raw Material

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

-- South African RB2 (5500 NAR) coal offers are assessed at USD 61/MT on FoB basis & USD 71/MT CNF India

Semi Finished

-- Induction grade billet (100*100 mm) export deals learned at around USD 400-402/MT ex-mill at Durgapur, equivalent to USD 426-427/MT CPT Nepal.

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

-- Raipur based participants reported, limited deals for sponge P-DRI at INR 18,400-500/MT ex-plant. Meanwhile few trades learned from Raigarh at INR 18,500/MT FoR Raipur.

-- Odisha based sponge supplier sold around 1,000 MT FeM 80 C-DRI lumps to Jalna (Maharashtra) at around INR 21,000-21,100/MT FoR Jalna.

-- Apple Industries in Bellary (Karnataka) offered Billet at INR 30,400-30,500/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,100-18,200/MT ex-Bellary.

-- 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.

-- North region (U.P) based - Gallant Ispat Ltd. current offering at INR 35,700/MT.

-- Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 35,600/MT.

-- Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,000-33,100/MT.

-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 36,300/MT.

-- Chennai based ARS Steel ( ARS - 550 D) is currently offering at INR 37,000/MT

Wire Rod & Pipe

-- Raipur Wire rod offers drop by INR 200/MT to INR 32,300-32,400/MT by traders & INR 32,500-32,600/MT through the manufacturers, ex-works. Also in Durgapur offers down by INR 200/MT to INR 32,300-32,800/MT ex-plant.

-- ERW Pipe Manufacturers have increased offers by INR 100-200/MT to INR 34,000/MT ex-Raipur, INR 36,800/MT ex-Mandi Gobindgarh & INR 33,800-34,000/MT ex-Rourkela.

Reference prices as on 27th February 2020

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 24,000 23,900 24,100 + 100 23,700 24,100
Ex-Mumbai HMS(80:20) 23,700 23,600 23,900 + 100 23,300 23,000
Ex-Chennai HMS(80:20) 22,100 22,000 22,300 + 200 21,800 22,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,400 19,300 19,500 - 100 19,500 20,600
Ex-Rourkela Mix, FeM 80%, +/-1 18,550 18,500 18,600 - 100 18,700 19,500
Ex-Raipur Mix, FeM 80%, +/-1 19,350 19,300 19,400 - 150 19,500 20,200
Ex-Bellary Lumps, FeM 80%, +/-1 18,300 18,200 18,400 - 100 18,400 19,000
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,500 18,400 18,600 - 100 18,550 19,600
Ex-Raipur Lumps, FeM 80%, +/-1 18,450 18,400 18,500 - 150 18,600 19,300
Ex-Bellary Lumps, FeM 80%, +/-1 18,100 18,000 18,200 - 100 18,300 18,700
Ex-Hyderabad Lumps, FeM 80%, +/-1 18,700 18,600 18,800 - 100 18,900 19,300
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 31,800 31,700 31,900 - 150 31,450 32,300
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 28,600 28,500 28,700 - 50 28,650 30,000
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 28,400 28,300 28,500 + 50 28,000 28,900
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 28,700 28,600 28,800 - 250 28,550 29,200
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 30,800 30,700 30,900 - 150 30,500 31,800
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 32,100 32,000 32,200 - 100 31,800 32,800
Ex-Durgapur 100x100 mm, IS 2831 29,100 29,000 29,200 - 150 29,150 30,400
Ex-Rourkela 100x100 mm, IS 2831 28,700 28,600 28,800 0 28,400 29,200
Ex-Raipur 100x100 mm, IS 2831 29,200 29,100 29,300 - 150 29,100 29,800
Ex-Ahmedabad 100x100 mm, IS 2831 31,350 31,300 31,400 - 150 30,900 32,300
Ex-Mumbai 100x100 mm, IS 2831 31,300 31,200 31,400 - 200 30,900 32,200
Ex-Chennai 100x100 mm, IS 2831 31,000 30,900 31,200 + 400 30,450 31,500
Ex-Hyderabad 100x100 mm, IS 2831 30,500 30,400 30,600 - 300 30,500 31,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 35,600 35,400 35,700 - 100 35,400 36,300
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 33,100 32,900 33,300 0 33,000 34,300
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 33,000 32,900 33,100 0 33,000 33,500
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 33,100 33,000 33,300 - 100 33,200 33,500
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 36,200 36,000 36,300 0 35,700 36,100
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 35,500 35,300 35,700 0 35,100 35,800
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 34,800 34,600 35,000 + 100 34,800 35,700
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 34,800 34,600 34,900 - 200 34,700 34,700
Ex-Durgapur Wire Rod(5.5 MM) 32,400 32,300 32,800 - 200 32,600 34,100
Ex-Raipur Wire Rod(5.5 MM) 32,600 32,300 32,800 - 100 32,300 33,100

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

27 Feb 2020, 18:38 IST

 

 

You have 0 complimentary insights remaining! Stay informed with BigMint
Login Buy Now
Related Insights
;