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Daily Update: Indian Steel Market 29 Jan'20

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Semi Finished

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29 Jan 2020, 18:53 IST

Daily Update: Indian Steel Market 29 Jan'20

Indian semi-finished offers increased marginally today. Sponge iron offers moved up by INR 100-200/MT & billet by INR 100-300/MT across major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 29,200-32,700/MT (USD 410-459) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-20,500/MT (USD 266-288); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 29th January 2020 (Wednesday) INR to USD exchange rate stood at INR 71.25.

-- ICEX (Indian Commodity Exchange Ltd) Mar'20 contract for STEELLONG today open at INR 32,260/MT & last traded (IST 18:15 hrs) at INR 32,300/MT.

-- BSE Sensex closed at 41,198(+231) on Wednesday, as against last day (Tuesday) at 40,966(-188).

-- NSE Nifty50 index was closed today at 12,129(+73) & Nifty Metal at 2,665(+23).

Semi Finished

-- Vizag Steel has invited a e-tender for the export of 30,000 MT Bloom. Interested bidders can submit their bids till 14:00 hrs on 05 Feb'20.

-- Rashmi Metaliks in Durgapur has maintained Sponge P-DRI price firm at INR 19,500/MT, as per sources.

-- Steel grade Pig iron prices in eastern India remained firm at INR 28,100-28,400/MT ex-Durgapur & INR 28,000/MT ex-Jharkhand.

-- Mid scale mills export offers more or less firm and stands at USD 440/MT for Billet & USD 495-500/MT, CPT Nepal.

-- BMM Ispat a price trend setter in South Indian sponge market has offered FeM 80 P-DRI lumps at INR 18,700-18,800/MT ex-Bellary, Karnataka.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,000/MT & INR 19,400/MT ex-plant, Karnataka; an official reported.

-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 19,800/MT & Billet at INR 31,400/MT ex-plant.

Rebar (12 mm)

-- Rathi Steels based in North region has unchanged their offer at INR 37,400/MT

-- Muzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 35,100/MT (up by INR 100/MT).

-- Raipur based Real Ispat (GK TMT) is offering at INR 35,600/MT (down by INR 200/MT).

-- Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,500/MT.

-- Jalna based Rajuri Steel Pvt. Ltd.(Rajuri TMT) has unchanged their offers at INR 36,000/MT.

-- Jalna based Gajkesari Steels and Alloys Pvt. Ltd (Gajkesari TMT) is current offering at INR 35,500/MT.

-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is current offering at INR 37,500/MT FoR. (down by INR 300/MT).

Wire Rod & Pipe

-- ERW Pipe Manufacturers have kept offers unchanged to INR 34,300-34,500/MT ex-Raipur, INR 37,000/MT ex-Mandi Gobindgarh & INR 34,500/MT ex-Rourkela.

-- Wire rod offers through the manufacturers in Raipur unchanged at INR 33,300/MT ex-plant. Meanwhile in Durgapur prices slightly up by INR 100/MT to INR 34,000-34,500/MT ex-plant.

Reference prices as on 29th January 2020

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	23,900	23,800	24,000	0	23,600	23,800
	Ex-Mumbai	HMS(80:20)	22,900	22,700	23,000	0	22,800	22,700
	Ex-Chennai	HMS(80:20)	22,900	22,700	23,100	- 200	23,500	22,900
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	20,500	20,400	20,600	+ 100	20,300	20,200
	Ex-Rourkela	Mix, FeM 80%, +/-1	19,400	19,300	19,500	+ 200	19,000	19,400
	Ex-Raipur	0-20 mm, -1 mm (20-25%), FeM 82%, +/-1	21,100	21,000	21,200	0	21,200	21,200
	Ex-Bellary	Lumps, FeM 80%, +/-1	19,000	18,900	19,100	0	19,200	19,300
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	19,500	19,400	19,600	+ 100	19,400	19,250
	Ex-Raipur	Lumps, FeM 80%, +/-1	19,200	19,100	19,300	+ 50	19,200	19,300
	Ex-Bellary	Lumps, FeM 80%, +/-1	18,700	18,600	18,800	0	18,700	19,200
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	19,300	19,200	19,400	0	19,400	19,700
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	32,250	32,200	32,300	+ 150	31,500	32,300
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	29,900	29,800	30,000	+ 100	29,600	29,800
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	28,700	28,600	28,800	+ 200	28,300	28,800
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	29,100	29,000	29,200	+ 100	28,600	29,500
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	31,550	31,500	31,600	+ 350	31,000	32,000
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	32,700	32,600	32,800	+ 200	32,000	32,900
	Ex-Durgapur	100x100 mm, IS 2831	30,400	30,300	30,500	+ 100	30,200	30,100
	Ex-Rourkela	100x100 mm, IS 2831	29,200	29,100	29,300	+ 200	28,700	29,300
	Ex-Raipur	100x100 mm, IS 2831	29,750	29,700	29,800	+ 200	29,050	30,000
	Ex-Ahmedabad	100x100 mm, IS 2831	32,300	32,200	32,400	+ 300	32,000	32,700
	Ex-Mumbai	100x100 mm, IS 2831	31,800	31,700	31,900	+ 300	31,400	32,300
	Ex-Chennai	100x100 mm, IS 2831	31,600	31,500	31,800	- 100	32,200	31,900
	Ex-Hyderabad	100x100 mm, IS 2831	31,000	30,900	31,100	0	30,500	31,000
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	36,300	36,100	36,500	0	35,700	35,600
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	34,100	33,900	34,300	0	33,900	34,500
	Ex-Rourkela	12-25 MM, IS 1786- 500 Fe	33,600	33,500	33,700	+ 100	33,300	33,600
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	33,400	33,300	33,500	0	32,800	33,300
	Ex-Jalna	12-25 MM, IS 1786- 500 Fe	35,900	35,800	36,100	0	35,400	36,200
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	35,800	35,600	36,000	- 200	35,800	35,500
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	35,700	35,500	35,900	0	35,900	35,000
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	34,700	34,500	34,800	0	34,200	34,700
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	34,100	34,000	34,500	+ 100	34,200	34,600
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	33,100	33,000	33,300	0	32,900	34,200