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Daily Update: Indian Steel Market 28 Feb'20

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Semi Finished
By
BigMint Bureau
781 Reads
28 Feb 2020, 18:50 IST
Daily Update: Indian Steel Market 28 Feb'20

Indian steel prices remain volatile through the mid scale mills due to average spot trades & strong supply.

As per our assessment, the major change seen in western India, where billet offers decline by INR 500/MT (USD 7) today. While in remaining markets it fluctuated by INR 100-300/MT, day on day.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 28,600-32,200/MT (USD 396-446) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,300-19,400/MT (USD 253-269); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 28th February 2020 (Friday) INR to USD exchange rate stood at INR 72.22.

-- ICEX (Indian Commodity Exchange Ltd) Mar'20 contract for STEELLONG today open at INR 31,500/MT & last traded (IST 18:23 hrs) at INR 31,620/MT.

-- BSE Sensex closed at 38,297(-1,448) on Friday, as against last day (Thursday) at 39,745(-143).

-- NSE Nifty50 index was closed today at 11,201(-431) & Nifty Metal at 2,246(-164).

Raw Material

-- Silicon Manganese (60-14) deals learned at INR 61,000-61,500/MT ex-Raipur.

Semi Finished

-- Induction grade billet (100*100 mm) export offers stand at around USD 400/MT ex-mill at Durgapur, equivalent to USD 425-427/MT CPT Nepal.

-- Rashmi Metaliks in Durgapur has slightly lower sponge P-DRI offers to INR 18,500-600/MT, as per sources.

-- Neo Metaliks has reduced steel grade pig iron prices by INR 300/MT to INR 27,200/MT ex-Durgapur.

-- Sponge P-DRI offers further drop in Raipur & about 5,000-6,000 MT deals reported at INR 18,300-400/MT ex-plant & FoR basis from Raigarh.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,600-18,700/MT & Billet at INR 28,500/MT ex-plant.

-- BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 18,100-18,200/MT ex-Bellary, Karnataka.

Rebar (12 mm)

-- Rathi Steels based in North region is offering at INR 36,500/MT.

-- Muzaffarnagar based Swarup Rolling Mills Ltd. (Swarup TMT) is offering at 34,000/MT.

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

-- Gujarat based Akshar Ispat Ltd. (Akshat TMT) is offering at INR 36,800/MT FoR.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 36,600/MT.

-- Chennai based Kamachi Industries Ltd. (KAMACHI TMT 550) is offering at INR 36,500/MT.

Wire Rod & Pipe

-- Raipur Wire rod trade reference prices drop by INR 100/MT to INR 32,200-32,500/MT, ex-works. Meanwhile in Durgapur offers firm at INR 32,300-32,800/MT ex-plant.

-- About 5,500 MT (2 rakes) of wire rod export deals learned from Indian large scale mills at near to USD 525-530/MT CPT Raxaul border, Nepal.

-- ERW Pipe Manufacturers have kept offers at firm level to INR 33,800-33,900/MT ex-Raipur, INR 36,800/MT ex-Mandi Gobindgarh & INR 33,800-34,000/MT ex-Rourkela.

Reference prices as on 28th 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 23,500 24,100
Ex-Mumbai HMS(80:20) 23,700 23,600 23,900 0 23,400 22,900
Ex-Chennai HMS(80:20) 22,100 22,000 22,300 0 21,700 22,700
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,400 19,300 19,500 0 19,500 20,600
Ex-Rourkela Mix, FeM 80%, +/-1 18,550 18,500 18,600 0 18,600 19,500
Ex-Raipur Mix, FeM 80%, +/-1 19,300 19,200 19,400 - 50 19,500 20,300
Ex-Bellary Lumps, FeM 80%, +/-1 18,300 18,200 18,400 0 18,400 18,900
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,500 18,400 18,600 0 18,600 19,600
Ex-Raipur Lumps, FeM 80%, +/-1 18,400 18,300 18,500 - 50 18,600 19,200
Ex-Bellary Lumps, FeM 80%, +/-1 18,100 18,000 18,200 0 18,300 18,600
Ex-Hyderabad Lumps, FeM 80%, +/-1 18,600 18,500 18,700 - 100 18,900 19,200
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 31,850 31,800 31,900 + 50 31,600 32,050
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 28,600 28,500 28,700 0 28,600 29,900
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 28,350 28,300 28,400 - 50 28,000 28,800
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 28,800 28,700 28,900 + 100 28,650 29,100
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 30,600 30,500 30,700 - 200 30,500 31,500
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 32,200 32,100 32,300 + 100 32,000 32,550
Ex-Durgapur 100x100 mm, IS 2831 29,150 29,100 29,200 + 50 29,100 30,350
Ex-Rourkela 100x100 mm, IS 2831 28,650 28,600 28,700 - 50 28,500 29,250
Ex-Raipur 100x100 mm, IS 2831 29,200 29,100 29,300 0 29,150 29,700
Ex-Ahmedabad 100x100 mm, IS 2831 30,800 30,600 30,900 - 550 30,900 32,000
Ex-Mumbai 100x100 mm, IS 2831 31,000 30,900 31,100 - 300 30,900 31,900
Ex-Chennai 100x100 mm, IS 2831 31,000 30,900 31,100 0 30,350 31,500
Ex-Hyderabad 100x100 mm, IS 2831 30,500 30,400 30,600 0 30,500 31,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 35,400 35,200 25,600 - 200 35,300 36,200
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 33,000 32,800 33,200 - 100 33,000 34,200
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 33,000 32,900 33,100 0 33,000 33,600
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 33,100 33,000 33,200 0 33,100 33,400
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 36,200 36,100 36,400 0 35,600 36,100
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 35,500 35,300 35,600 0 35,100 35,800
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 35,000 34,800 35,200 + 200 34,800 35,600
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 34,500 34,300 34,600 - 300 35,000 34,800
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 32,400 32,300 32,800 0 32,500 34,000
Ex-Raipur Wire Rod(5.5 MM) 32,500 32,200 32,800 - 100 32,300 33,100

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

28 Feb 2020, 18:50 IST

 

 

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