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Daily Update: Indian Steel Market 27 Sep'19

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BigMint Bureau
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27 Sep 2019, 18:25 IST
Daily Update: Indian Steel Market 27 Sep'19

Indian spot steel trades improved with increased inquiries and the prices of Semis & Long steel products moved up by INR 100-400/MT day on day through the mid sized mills.

The demand recovered majorly in central region as prices rallied by INR 200-300/MT in all products, followed by western & northern India where similar hike observed.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,200-29,400/MT (USD 372-418) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,500/MT (USD 234-249); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 27th September 2019 (Friday) INR to USD exchange rate stood at INR 70.43.

-- ICEX (Indian Commodity Exchange Ltd) Oct'19 contract for STEELLONG today open at INR 28,210/MT & last traded (IST 18:22 hrs) at INR 28,090/MT.

-- BSE Sensex closed at 38,822(-167) on Friday, as against last day (Thursday) at 38,989(+396).

-- NSE Nifty50 index was closed today at 11,512(-58) & Nifty Metal at 2,453(-66).

Key Trades

-- Mesco Steels based in Odisha, has traded steel grade pig iron at INR 22,800-22,900/MT ex-plant and the deals have been reported by sources for central India.

-- As per sources, a government of India owned steel maker has concluded the 30,000 MT bloom (IS 2830 grade) export tender at USD 380/MT, FoB.

-- Raipur based sponge iron producers reported better demand as good volumes sold at INR 16,100-16,200/MT ex-plant.

-- Central India, Raigarh based steel manufacturer has concluded a deal of Billet at INR 26,900/MT FoR Raipur.

-- Durgapur based Rashmi Metaliks has offered Sponge P-DRI at around INR 16,100-16,200/MT, as per participants.

-- Foundry grade pig iron prices remained firm in Indian market and assessed at INR 29,400-29,500/MT ex-Delhi, INR 29,900-30,000/MT FoR Ludhiana & INR 32,000/MT FoR Ahmedabad; excluding GST.

-- Trade discounts in Raipur wire rod reduced and stood at INR 1,000/MT by stockiest & INR 800/MT through the manufacturers along with hike in base price by INR 300/MT to INR 31,500/MT ex-plant. Similarly in Durgapur, trade reference prices surge by INR 300/MT to INR 30,500-31,000/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,100-16,200/MT ex-Bellary, offers decline by INR 100-200/MT from the last trade; an official reported.

-- Raigarh(Chhattisgarh) based Scan Group branding (Shrishti TMT) is offering 12 mm Rebar at INR 31,500/MT.

-- Western region Gujarat based Diamond TMT is offering 12 mm Rebar at INR 31,500/MT (up by INR 100/MT).

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) offers 12 mm Rebar at INR 31,600/MT (up by INR 200/MT).

-- Wardha(Maharashtra) based Sangam TMT is currently offering 12 mm Rebar at INR 31,300/MT.

-- Southern region Chennai based Ponneri Steel Ind. (Triple Power) is current offering 12 mm Rebar at INR 32,000/MT.

Reference prices as on 27th September 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 21,600 21,500 21,700 + 200 21,500 21,300
Ex-Mumbai HMS(80:20) 21,300 21,300 21,500 + 100 21,100 21,700
Ex-Chennai HMS(80:20) 20,000 19,800 20,200 0 20,400 20,400
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,200 17,100 17,300 + 100 18,200 17,800
Ex-Rourkela Mix, FeM 80%, +/-1 16,650 16,600 16,700 + 50 17,000 16,300
Ex-Raipur Mix, FeM 80%, +/-1 17,500 17,400 17,600 + 200 17,800 17,200
Ex-Bellary Lumps, FeM 80%, +/-1 16,500 16,400 16,600 0 16,800 16,800
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,200 16,100 16,300 + 100 17,200 16,800
Ex-Raipur Lumps, FeM 80%, +/-1 16,200 16,100 16,300 + 250 16,550 15,900
Ex-Bellary Lumps, FeM 80%, +/-1 16,100 16,000 16,200 - 100 16,500 16,400
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,800 16,700 16,900 0 17,000 16,800
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 29,200 29,100 29,300 + 300 29,300 29,400
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,700 26,600 26,800 + 300 27,400 26,400
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,800 25,700 25,900 + 100 26,300 25,850
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,300 26,200 26,400 + 250 26,800 26,400
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 27,800 27,700 27,900 + 200 27,300 27,700
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,400 29,300 29,500 + 300 29,500 29,500
Ex-Durgapur 100x100 mm, IS 2831 27,000 26,900 27,100 + 300 27,650 26,800
Ex-Rourkela 100x100 mm, IS 2831 26,200 26,100 26,300 + 200 26,800 26,250
Ex-Raipur 100x100 mm, IS 2831 26,800 26,700 26,900 + 300 27,200 26,900
Ex-Ahmedabad 100x100 mm, IS 2831 28,100 28,000 28,200 + 250 28,100 27,800
Ex-Mumbai 100x100 mm, IS 2831 28,100 28,000 28,200 + 300 27,500 27,950
Ex-Chennai 100x100 mm, IS 2831 27,200 27,000 27,300 0 27,500 28,200
Ex-Hyderabad 100x100 mm, IS 2831 26,700 26,500 27,000 + 200 27,000 27,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,500 32,300 32,700 + 300 32,500 33,200
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 31,000 30,800 31,200 + 200 31,800 31,100
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 31,000 30,900 31,100 + 100 31,200 30,300
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 30,800 30,700 31,000 + 200 31,000 30,200
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31,400 31,300 31,600 + 100 31,600 31,800
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 30,900 30,800 31,100 + 300 30,100 31,100
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 31,600 31,500 31,800 0 31,900 32,200
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 30,800 30,700 31,000 + 400 31,000 31,000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 30,700 30,500 31,000 + 300 31,300 30,600
Ex-Raipur Wire Rod(5.5 MM) 30,700 30,500 31,500 + 300 30,800 30,100

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

27 Sep 2019, 18:25 IST

 

 

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