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Daily Update: Indian Steel Market 3 Oct'19

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BigMint Bureau
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3 Oct 2019, 18:25 IST
Daily Update: Indian Steel Market 3 Oct'19

Indian steel prices remained down trend on demand concern and as per daily assessment the prices have corrected by INR 100-300/MT in major regions.

As per participants, buyers are cautious presently and hold future booking due to unclear market trends. Inline in east India trade activities remain slow on account of Durga puja festival.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-28,800/MT (USD 361-406) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,400-17,100/MT (USD 230-241); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 1st October 2019 (Thursday) INR to USD exchange rate stood at INR 70.97.

-- ICEX (Indian Commodity Exchange Ltd) Nov'19 contract for STEELLONG today open at INR 28,330/MT & last traded (IST 18:12 hrs) at INR 28,090/MT.

-- BSE Sensex closed at 38,106(-198) on Thursday, as against last day (Tuesday) at 38,305(-361).

-- NSE Nifty50 index was closed today at 11,313(-46) & Nifty Metal at 2,325(-71).

Key Trades

-- Indian sponge iron export offers continued drop and latest assessment stood at USD 260-265/MT CPT Benapole, equivalent to USD 275-280/MT CFR Chittagong, Bangladesh.

-- Mid sized mills export offers to Nepal is hovering at USD 360-365/MT for Billet & USD 410-415/MT for Wire rod, ex-mill at Durgapur, eastern India.

-- Trade discounts in Raipur Wire rod unchanged and is hovering at INR 800-900/MT by mills & INR 1,100-1,300/MT through re-sellers end. Also base prices unchanged in Raipur and drop in Durgapur by INR 200/MT to INR 29,600-30,300/MT ex-plant.

-- ERW Pipe Manufacturers have reduced their offers by around INR 200/MT in a day trade activities over less sales. Offers reported at INR 30,800-31,000/MT ex-Raipur, INR 33,400-33,500/MT ex-Mandi Gobindgarh & INR 31,000/MT ex-Rourkela.

-- Raipur (Chhattisgarh) based Real Ispat (GK TMT) offers their 12 mm Rebar at INR 33,300/MT(down by INR 300/MT).

-- Rathi Steels based in North region is offering their 12 mm Rebar at INR 33,300/MT.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering their 12 mm Rebar at INR 31,200/MT (down by INR 200/MT).

-- Western region Gujarat based Diamond TMT offers their 12 mm Rebar at INR 31,600/MT (down by INR 100/MT).

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,000-16,100/MT ex-Bellary, offers decline by INR 100-200/MT from the last trade; an official reported.

-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 16,600/MT & INR 17,000/MT ex-plant, Karnataka; an official reported.

-- Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is currently offering their 12 mm Rebar at INR 32,000/MT.

Reference prices as on 3rd October 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 21,800 21,700 21,900 0 21,400 21,300
Ex-Mumbai HMS(80:20) 21,300 21,100 21,400 - 100 21,200 21,400
Ex-Chennai HMS(80:20) 19,700 19,500 19,900 0 20,000 20,300
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 16,650 16,600 16,700 - 50 17,100 18,100
Ex-Rourkela Mix, FeM 80%, +/-1 16,500 16,400 16,600 - 100 16,600 16,500
Ex-Raipur Mix, FeM 80%, +/-1 17,100 17,000 17,200 - 200 17,300 17,200
Ex-Bellary Lumps, FeM 80%, +/-1 16,500 16,400 16,600 0 16,500 16,600
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 15,550 15,500 15,600 - 150 16,100 17,100
Ex-Raipur Lumps, FeM 80%, +/-1 15,800 15,700 15,900 - 200 15,950 15,950
Ex-Bellary Lumps, FeM 80%, +/-1 16,000 15,900 16,100 - 100 16,200 16,400
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,600 16,500 16,700 - 100 16,800 16,800
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 28,550 28,500 28,600 - 350 28,900 29,600
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 25,900 25,800 26,000 - 100 26,400 26,700
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,450 25,400 25,500 - 150 25,700 26,000
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 25,800 25,700 25,900 - 100 26,050 26,500
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 27,700 27,600 27,800 - 300 27,600 27,350
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 28,800 28,700 28,900 - 250 29,100 29,700
Ex-Durgapur 100x100 mm, IS 2831 26,200 26,100 26,300 - 100 26,700 27,100
Ex-Rourkela 100x100 mm, IS 2831 25,700 25,600 25,800 - 100 26,000 26,400
Ex-Raipur 100x100 mm, IS 2831 26,250 26,200 26,300 - 150 26,500 27,000
Ex-Ahmedabad 100x100 mm, IS 2831 28,000 27,900 28,100 - 100 27,850 27,800
Ex-Mumbai 100x100 mm, IS 2831 27,900 27,800 28,000 - 300 27,800 27,550
Ex-Chennai 100x100 mm, IS 2831 27,000 26,900 27,100 - 150 27,200 28,000
Ex-Hyderabad 100x100 mm, IS 2831 26,500 26,400 26,600 0 26,500 26,700
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,100 32,000 32,300 - 100 32,200 32,700
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 30,000 29,800 30,200 - 300 30,800 31,300
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 30,600 30,500 30,800 - 200 30,900 30,400
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 30,300 30,200 30,400 - 200 30,600 30,400
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31,200 31,000 31,300 - 100 31,300 31,500
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 31,000 30,900 31,100 - 200 30,600 30,500
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 31,400 31,300 31,600 - 100 31,600 32,000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 30,400 30,300 30,500 - 100 30,400 30,800
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 29,800 29,600 30,300 - 200 30,400 30,800
Ex-Raipur Wire Rod(5.5 MM) 30,300 30,000 31,200 - 100 30,400 30,800

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

3 Oct 2019, 18:25 IST

 

 

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