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Daily Update: Indian Steel Market 30 Sep'19

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BigMint Bureau
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30 Sep 2019, 18:34 IST
Daily Update: Indian Steel Market 30 Sep'19

Indian Billet prices slightly fluctuated by INR 100-200/MT today amid average spot trades. While Sponge offers declined by INR 100-200/MT over limited buying activities due to power constraints in central India.

In context to finished steel products, the prices of Rebar, Structure & Wire rod being narrowed down owing to poor off take.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,100-29,100/MT (USD 368-411) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,500/MT (USD 233-247); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 30th September 2019 (Monday) INR to USD exchange rate stood at INR 70.80.

-- ICEX (Indian Commodity Exchange Ltd) Nov'19 contract for STEELLONG today open at INR 28,650/MT & last traded (IST 18:20 hrs) at INR 28,420/MT.

-- BSE Sensex closed at 38,667(-155) on Monday, as against last day (Friday) at 38,822(-167).

-- NSE Nifty50 index was closed today at 11,477(-35) & Nifty Metal at 2,438(-15).

Key Trades

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 137/MT FoB Australia & USD 152.5/MT CNF India.

-- South African RB2 (5500 NAR) coal offers are assessed at USD 49.96/MT on FoB basis & USD 66.31/MT CNF India.

-- As per latest update received by SteelMint, the fresh deals for sponge iron (79-80 FeM, 95-100% lumps) exports to Bangladesh concluded at near to USD 280-282/MT CFR Chittagong.

-- Durgapur based Rashmi Metaliks has offered sponge P-DRI at INR 16,000-16,100/MT, as per sources.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,800/MT & Billet at INR 26,100-26,200/MT ex-plant; an official reported. And added trade remain limited.

-- BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 16,100-16,200/MT ex-Bellary, Karnataka.

-- 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.

-- Trade discounts in Raipur wire rod is hovering at INR 800-1,000/MT amid unchanged base price at INR 31,500/MT ex-plant. Meanwhile in Durgapur, trade reference prices of wire rod slightly drop by INR 100/MT to INR 30,200-31,000/MT ex-plant.

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

-- Raigarh(Chhattisgarh) based Anjani Steels Ltd. (Radhe TMT) offers their 12 mm Rebar at INR 31,500/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering their 12 mm Rebar at INR 31,900/MT FoR.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their 12 mm Rebar offers at INR 31,900/MT.

Reference prices as on 30th September 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22,000 21,900 22,100 + 100 21,700 21,100
Ex-Mumbai HMS(80:20) 21,400 21,200 21,500 0 21,200 21,600
Ex-Chennai HMS(80:20) 19,800 19,600 20,000 - 100 20,400 20,400
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 16,950 16,900 17,000 - 150 17,600 18,100
Ex-Rourkela Mix, FeM 80%, +/-1 16,700 16,600 16,800 0 16,900 16,350
Ex-Raipur Mix, FeM 80%, +/-1 17,500 17,400 17,600 0 17,500 17,400
Ex-Bellary Lumps, FeM 80%, +/-1 16,500 16,400 16,600 0 16,700 NA
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 15,950 15,900 16,000 - 150 16,600 17,100
Ex-Raipur Lumps, FeM 80%, +/-1 16,150 16,100 16,200 - 50 16,300 16,050
Ex-Bellary Lumps, FeM 80%, +/-1 16,100 16,000 16,200 0 16,400 NA
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,800 16,700 16,900 0 16,900 16,800
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 28,950 28,900 29,000 - 50 29,000 29,150
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,400 26,300 26,500 - 100 27,000 26,700
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,800 25,700 25,900 0 26,100 26,000
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,200 26,100 26,300 0 26,550 26,300
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 28,100 28,000 28,200 + 100 27,550 NA
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,100 29,000 29,200 - 100 29,200 29,300
Ex-Durgapur 100x100 mm, IS 2831 26,700 26,600 26,800 - 100 27,200 27,000
Ex-Rourkela 100x100 mm, IS 2831 26,100 26,000 26,200 0 26,600 26,400
Ex-Raipur 100x100 mm, IS 2831 26,650 26,600 26,700 - 50 26,900 26,900
Ex-Ahmedabad 100x100 mm, IS 2831 28,400 28,300 28,500 - 100 27,600 27,750
Ex-Mumbai 100x100 mm, IS 2831 28,300 28,200 28,400 + 100 27,800 NA
Ex-Chennai 100x100 mm, IS 2831 27,000 26,900 27,100 - 100 27,400 28,000
Ex-Hyderabad 100x100 mm, IS 2831 26,500 26,400 26,600 - 200 27,000 27,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,300 32,100 32,400 - 200 32,800 32,800
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 30,600 30,400 30,800 - 200 31,300 31,100
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 30,900 30,800 31,100 0 31,300 30,500
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 30,800 30,700 31,000 0 30,900 30,400
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31,500 31,300 31,600 0 31,500 31,700
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 31,100 31,000 31,200 + 100 30,500 NA
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 31,500 31,400 31,700 - 100 31,700 32,200
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 30,500 30,400 30,600 0 30,800 31,000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 30,400 30,200 31,000 - 100 31,000 30,500
Ex-Raipur Wire Rod(5.5 MM) 30,700 30,500 31,500 0 30,700 30,600

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

30 Sep 2019, 18:34 IST

 

 

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