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Daily Update: Indian Steel Market 3 Jan'20

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Semi Finished

BigMint Bureau

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3 Jan 2020, 19:00 IST

Daily Update: Indian Steel Market 3 Jan'20

Indian sponge iron prices remain strong and increased by INR 100-300/MT in central & eastern regions.

Meanwhile, billet prices fluctuated by INR 100-200/MT in across regions, except in southern India where it surge by INR 500/MT, day on day.

As per sources, demand was average today. However due to limited stock, the mid sized mills have kept their prices strong.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,000-33,000/MT (USD 418-460) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,500-20,900/MT (USD 272-291); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 3rd January 2020 (Friday) INR to USD exchange rate stood at INR 71.83.

-- ICEX (Indian Commodity Exchange Ltd) Feb'20 contract for STEELLONG today open at INR 32,160/MT & last traded (IST 19:10 hrs) at INR 31,980/MT.

-- BSE Sensex closed at 41,464(-162) on Friday, as against last day (Thursday) at 41,626(+320).

-- NSE Nifty50 index was closed today at 12,226(-55) & Nifty Metal at 2,848(-21).

Raw Material

-- According to data, Coal India Ltd has supplied about 291.4 MnT to the power sector during Apr-Nov'19 as against 320 MnT in the corresponding period of previous fiscal; declined by 8.9% Y-o-Y.

-- Silicon Manganese (60-14) offers in Raipur hovering at INR 66,000-67,000/MT ex-plant.

Semi Finished

-- Kolkata, eastern India based participants reported export deals of sponge iron (80 FeM, 100% lumps) about 8,000-10,000 MT at USD 300-308/MT CPT Benapole, equivalent to USD 318-320/MT CFR Chittagong, Bangladesh.

-- Neo Metaliks in Durgapur has reported steel grade pig iron deals at around INR 27,000-27,200/MT ex-plant, up by INR 100-200/MT, day-on-day.

-- Rashmi Metaliks in Durgapur has raised Sponge P-DRI price by INR 100-200/MT to INR 19,400/MT, as per sources.

-- The sponge P-DRI manufacturers in Raipur further raised prices by INR 200-300/MT to INR 20,000-20,200/t ex-plant, however no major deals as stated by participants.

Wire Rod & Pipe

-- Trade discount in Raipur wire rod reported at INR 1,000-1,500/MT and base prices surge by INR 300/MT to INR 35,700/MT ex-plant. Also in Durgapur trade reference prices up by INR 100-200/MT to INR 34,600-35,000/MT ex-plant.

-- ERW Pipe prices up by INR 200-300/MT to INR 35,300/MT ex-Raipur & INR 37,500/MT ex-Mandi Gobindgarh.

Rebar (12 mm)

-- Rathi Steels based in North region has unchanged their offer at INR 37,200/MT.

-- Raipur based Real Ispat (GK TMT) is offering at INR 36,400/MT (up by INR 300/MT).

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 34,900/MT.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offer INR 36,500/MT.

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

-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is offering at INR 38,500/MT.

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

Reference prices as on 3rd January 2020

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	24,400	24,300	24,500	+ 400	23,700	21,900
	Ex-Mumbai	HMS(80:20)	23,000	22,900	23,200	+ 200	22,500	21,400
	Ex-Chennai	HMS(80:20)	23,200	23,100	23,400	+ 100	22,200	20,900
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	20,200	20,100	20,300	0	19,750	18,000
	Ex-Rourkela	Mix, FeM 80%, +/-1	19,900	19,800	20,000	+ 200	18,900	16,550
	Ex-Raipur	0-20 mm, -1 mm (20-25%), FeM 82%, +/-1	21,900	21,800	22,000	+ 200	20,900	18,500
	Ex-Bellary	Lumps, FeM 80%, +/-1	19,500	19,400	19,600	0	18,900	16,900
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	19,300	19,200	19,400	0	18,750	17,000
	Ex-Raipur	Lumps, FeM 80%, +/-1	20,100	20,000	20,200	+ 300	19,000	16,500
	Ex-Bellary	Lumps, FeM 80%, +/-1	19,300	19,200	19,400	0	18,700	16,800
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	19,800	19,700	19,900	0	19,200	17,250
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	32,500	32,400	32,600	- 250	31,200	28,800
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	30,000	29,900	30,100	+ 50	28,750	26,700
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	29,650	29,600	29,700	+ 450	28,300	25,300
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	30,100	30,000	30,200	+ 100	28,700	25,900
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	32,200	32,100	32,300	+ 200	31,000	27,800
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	33,000	32,900	33,100	- 200	31,700	29,150
	Ex-Durgapur	100x100 mm, IS 2831	30,250	30,200	30,300	+ 50	29,200	26,900
	Ex-Rourkela	100x100 mm, IS 2831	29,900	29,800	30,000	+ 100	28,700	25,700
	Ex-Raipur	100x100 mm, IS 2831	30,600	30,500	30,700	+ 100	29,200	26,150
	Ex-Ahmedabad	100x100 mm, IS 2831	32,900	32,800	33,000	- 100	31,900	28,700
	Ex-Mumbai	100x100 mm, IS 2831	32,500	32,400	32,600	+ 200	31,300	28,100
	Ex-Chennai	100x100 mm, IS 2831	32,800	32,700	33,000	+ 500	31,200	28,500
	Ex-Hyderabad	100x100 mm, IS 2831	31,500	31,400	31,600	+ 500	30,500	27,500
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	36,200	36,000	36,400	+ 100	34,000	31,700
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	34,600	34,400	34,800	+ 100	33,100	30,900
	Ex-Rourkela	12-25 MM, IS 1786- 500 Fe	34,300	34,200	34,500	0	33,000	29,900
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	34,200	34,100	34,500	+ 400	32,600	29,400
	Ex-Jalna	12-25 MM, IS 1786- 500 Fe	36,300	36,100	36,500	0	35,000	31,000
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	35,800	35,600	36,000	+ 300	34,500	31,700
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	36,300	36,100	36,500	+ 600	34,700	31,900
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	35,200	35,100	35,300	+ 500	34,000	31,000
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	34,800	34,600	35,000	+ 100	33,200	30,800
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	34,800	34,400	35,700	+ 100	33,300	30,000