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Daily Update: Indian Steel Market 30 Jan'20

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BigMint Bureau

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30 Jan 2020, 18:39 IST

Daily Update: Indian Steel Market 30 Jan'20

Indian steel prices in secondary market change by INR 100-400/MT today on average demand in major markets.

While Billet prices in western India up by INR 300-400/MT as few IF's in Silvassa halt operations

Western India market sentiments improved amid disturbance in semi finish (Ingot/Billet) supply reported from Silvassa market where few IF's have halted operations due to pollution concerns and market participants are expecting them to resume operations in near term, however expected dates of resumption are yet to be confirmed.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 29,200-32,800/MT (USD 406-456) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-20,600/MT (USD 266-286); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 30th January 2020 (Thursday) INR to USD exchange rate stood at INR 71.60.

-- ICEX (Indian Commodity Exchange Ltd) Feb'20 contract for STEELLONG today open at INR 31,490/MT & last traded (IST 18:39 hrs) at INR 32,460/MT.

-- BSE Sensex closed at 40,913(-284) on Thursday, as against last day (Wednesday) at 41,198(+231).

-- NSE Nifty50 index was closed today at 12,035(-93) & Nifty Metal at 2,628(-36).

Key trades

-- SAIL has floated export tender for 10,800 MT prime mild steel non alloy concast billets (size 125*125 mm) from Durgapur Steel plant. The last date for bid submission is 04 Feb'20 by 16:00:00 HRS [IST].

-- Melting scrap offers in Western India- Gujarat incline by INR 200/MT in a day trade activity.

-- Rashmi Metaliks in Durgapur has offers Sponge P-DRI at around INR 19,600/MT, as per market sources.

-- Jindal Steel has maintained steel grade pig iron price firm at INR 28,800/MT ex-plant, Raigarh.

-- Ludhiana, North India based trade participants reported foundry grade pig iron offers at INR INR 31,000/MT on FoR basis & excluding 18% GST.

-- Raipur based sponge manufacturers have slightly increased P-DRI price by INR 100/MT to INR 19,400-19,500/MT ex-plant and few deals have reported in local market.

-- Billet deals learned at INR 29,800/MT FoR Raipur from Raigarh based manufacturers.

-- Raipur based mills sourcing Sponge P-DRI from Odisha at around INR 19,400/MT FoR Raipur.

-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 18,600/MT ex-plant, an official reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,700-18,800/MT ex-Bellary & around 2,000 MT deals reported in nearby market.

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

-- ERW Pipe Manufacturers have increased offers by INR 100-200/MT to INR 34,500-34,700/MT ex-Raipur, INR 37,000-37,100/MT ex-Mandi Gobindgarh & INR 34,300-34,500/MT ex-Rourkela.

Reference prices as on 30th January 2020

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	24,100	24,000	24,200	+ 200	23,800	24,000
	Ex-Mumbai	HMS(80:20)	23,000	22,800	23,100	+ 100	23,000	22,800
	Ex-Chennai	HMS(80:20)	22,800	22,600	23,000	- 100	23,400	23,100
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	20,600	20,500	20,700	+ 100	20,650	20,200
	Ex-Rourkela	Mix, FeM 80%, +/-1	19,500	19,400	19,600	+ 100	19,300	19,700
	Ex-Raipur	Mix, FeM 80%, +/-1	20,200	20,100	20,300	+ 100	20,400	20,700
	Ex-Bellary	Lumps, FeM 80%, +/-1	19,000	18,900	19,100	0	19,100	19,500
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	19,600	19,500	19,700	+ 100	19,700	19,300
	Ex-Raipur	Lumps, FeM 80%, +/-1	19,300	19,200	19,400	+ 100	19,400	19,800
	Ex-Bellary	Lumps, FeM 80%, +/-1	18,700	18,600	18,800	0	18,700	19,300
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	19,300	19,200	19,400	0	19,400	19,800
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	32,300	32,200	32,400	+ 50	32,200	32,750
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	30,000	29,900	30,100	+ 100	30,000	29,950
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	28,900	28,800	29,000	+ 200	28,700	29,200
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	29,200	29,100	29,300	+ 100	29,300	30,000
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	31,800	31,700	31,900	+ 250	31,800	32,000
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	32,800	32,700	32,900	+ 100	32,700	33,200
	Ex-Durgapur	100x100 mm, IS 2831	30,400	30,300	30,500	0	30,450	30,200
	Ex-Rourkela	100x100 mm, IS 2831	29,200	29,100	29,300	0	29,300	29,800
	Ex-Raipur	100x100 mm, IS 2831	29,800	29,700	29,900	+ 50	29,800	30,500
	Ex-Ahmedabad	100x100 mm, IS 2831	32,300	32,200	32,400	0	32,500	33,000
	Ex-Mumbai	100x100 mm, IS 2831	32,200	32,100	32,300	+ 400	32,200	32,300
	Ex-Chennai	100x100 mm, IS 2831	31,500	31,400	31,600	- 100	31,500	32,300
	Ex-Hyderabad	100x100 mm, IS 2831	31,000	30,900	31,100	0	31,000	31,000
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	36,300	36,000	36,400	0	36,100	36,100
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	34,300	34,100	34,500	+ 200	34,500	34,500
	Ex-Rourkela	12-25 MM, IS 1786- 500 Fe	33,500	33,400	33,600	- 100	33,700	34,300
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	33,500	33,400	33,600	+ 100	33,300	33,800
	Ex-Jalna	12-25 MM, IS 1786- 500 Fe	36,100	36,000	36,300	+ 200	36,100	36,300
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	35,800	35,600	36,000	0	36,200	35,500
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	35,700	35,500	35,900	0	35,900	35,700
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	34,700	34,500	34,800	0	34,700	34,700
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	34,100	34,000	34,300	0	34,400	34,700
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	33,100	33,000	33,300	0	33,300	34,700