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Daily Update: Indian Steel Market 30 Dec'19

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30 Dec 2019, 18:26 IST

Daily Update: Indian Steel Market 30 Dec'19

India's steel prices rise further on improved demand from the local mills & short supply. Today, the prices surge near to INR 1,000/MT (upto USD 14).

On day trade activities, the major rise in Billet & Rebar prices seen in Western India by INR 800-1,000/MT followed by INR 100-600/MT in remaining locations.

In context to Sponge iron, prices increased by INR 100-400/MT in major market.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 29,000-32,700/MT (USD 406-459) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-20,100/MT (USD 266-282); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 30th December 2019 (Monday) INR to USD exchange rate stood at INR 71.35.

-- ICEX (Indian Commodity Exchange Ltd) Feb'20 contract for STEELLONG today open at INR 31,550/MT & last traded (IST 18:11 hrs) at INR 31,460/MT.

-- BSE Sensex closed at 41,558(-17) on Monday, as against last day (Friday) at 41,575(+411).

-- NSE Nifty50 index was closed today at 12,260(+14) & Nifty Metal at 2,793(+33).

Raw Material

-- Southern India based pellet makers have increased offers by INR 300-400/MT to INR 6,900-7,000/MT against last week's assessment at INR 6,600/MT (Ex-Bellary).

-- Melting scrap offers in Western India- Jalna (Maharashtra) incline by INR 400/MT in a day trade activities.

Semi Finished

-- Rashmi Metaliks in Durgapur has offered Sponge P-DRI at INR 19,100-19,200/MT, as per sources.

-- The sponge manufacturers in Raipur have raised sponge P-DRI offers by INR 100-200/MT to INR 19,200/MT, however no major deals due to competitive offers from Raigarh at INR 19,200/MT on FoR basis.

-- Neo Metaliks in Durgapur reported deals for steel grade pig iron at around INR 27,000/MT as against last week at INR 26,600-26,800/MT ex-plant.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered Billet at INR 29,000/MT ex-plant.

-- Apple Industries in Bellary (Karnataka) offered Billet at INR 32,000/MT ex-plant.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,000/MT & INR 19,500/MT ex-plant, Karnataka; an official reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,000-18,100/MT ex-Bellary & around 2,000 MT deals reported in Hyderabad market.

Rebar (12 mm)

-- Rathi Steels based in North region is current offering around INR 36,400/MT.

-- Raipur based Real Ispat (GK TMT) is current offering at INR 35,400/MT.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 36,000/MT.

-- Muzaffarnagar based Swarup Rolling Mills (Swarup TMT) currently offering at INR 33900/MT.

-- Chennai based Ponneri Steel Ind. (Triple Power) is currently offering at INR 35,500/MT.

-- Chennai based ARS Steel (Trusteel - 550D) is currently offering at INR 36,400/MT.

Wire Rod & Pipe

-- Trade discount in Raipur wire rod through traders learned at INR 800-1,000/MT and base price up by INR 400/MT to INR 34,600/MT ex-plant. Also in Durgapur trade reference prices sharply gain by INR 500-600/MT to INR 34,000-34,500/MT ex-Durgapur.

-- ERW Pipe Manufacturers have increased offers by INR 100-300/MT to INR 34,500/MT ex-Raipur & INR 36,800/MT ex-Mandi Gobindgarh.

Reference prices as on 30th December 2019

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	23,600	23,500	23,700	+ 200	23,000	22,000
	Ex-Mumbai	HMS(80:20)	22,700	22,600	22,900	+ 100	21,900	21,200
	Ex-Chennai	HMS(80:20)	22,800	22,700	23,000	+ 500	21,900	20,700
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	20,100	20,000	20,200	+ 300	19,000	18,100
	Ex-Rourkela	Mix, FeM 80%, +/-1	19,100	19,000	19,200	+ 150	18,000	16,700
	Ex-Raipur	Mix, FeM 80%, +/-1	20,100	20,000	20,200	+ 100	19,600	17,700
	Ex-Bellary	Lumps, FeM 80%, +/-1	19,000	18,900	19,100	+ 100	18,100	16,800
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	19,150	19,100	19,200	+ 350	18,000	17,100
	Ex-Raipur	Lumps, FeM 80%, +/-1	19,200	19,100	19,300	+ 150	18,800	16,700
	Ex-Bellary	Lumps, FeM 80%, +/-1	19,000	18,900	19,000	+ 300	18,000	16,700
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	19,500	19,400	19,500	+ 300	18,400	17,200
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	31,850	31,800	31,900	+ 150	30,450	29,100
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	29,500	29,400	29,600	+ 350	27,500	26,850
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	28,500	28,400	28,600	+ 200	27,000	25,500
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	29,100	29,000	29,200	+ 200	28,300	26,050
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	31,900	31,800	32,000	+ 800	29,800	27,900
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	32,500	32,400	32,600	+ 300	30,750	29,500
	Ex-Durgapur	100x100 mm, IS 2831	29,800	29,700	29,900	+ 300	28,000	27,100
	Ex-Rourkela	100x100 mm, IS 2831	29,100	29,000	29,200	+ 400	27,800	25,850
	Ex-Raipur	100x100 mm, IS 2831	29,550	29,500	29,600	+ 200	28,800	26,300
	Ex-Ahmedabad	100x100 mm, IS 2831	32,700	32,600	32,800	+ 900	31,300	28,800
	Ex-Mumbai	100x100 mm, IS 2831	32,300	32,200	32,400	+ 1,000	30,100	28,200
	Ex-Chennai	100x100 mm, IS 2831	31,800	31,800	32,000	+ 600	30,500	28,300
	Ex-Hyderabad	100x100 mm, IS 2831	31,000	30,900	31,100	+ 500	29,500	28,000
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	35,100	34,900	35,300	+ 700	33,300	32,100
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	33,800	33,600	34,000	+ 400	31,800	31,200
	Ex-Rourkela	12-25 MM, IS 1786- 500 Fe	33,600	33,400	33,700	+ 600	31,500	30,000
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	32,800	32,700	33,000	+ 200	31,500	29,600
	Ex-Jalna	12-25 MM, IS 1786- 500 Fe	35,600	35,500	35,800	+ 600	33,500	31,200
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	35,200	35,100	35,400	+ 600	33,300	31,600
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	34,800	34,700	35,000	+ 100	33,900	32,000
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	34,400	34,200	34,400	+ 500	33,000	31,500
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	34,100	34,000	34,500	+ 600	32,000	31,000
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	33,800	33,600	34,600	+ 400	32,600	30,500