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Daily Update: Indian Steel Market 31 Dec'19

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31 Dec 2019, 18:21 IST

Daily Update: Indian Steel Market 31 Dec'19

Indian mid sized mills have further raised prices on active trade activities and as per assessment the prices rallied by INR 100-500/MT in major region.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 29,100-32,900/MT (USD 408-461) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,200-20,200/MT (USD 269-283); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 31st December 2019 (Tuesday) INR to USD exchange rate stood at INR 71.33.

-- ICEX (Indian Commodity Exchange Ltd) Feb'20 contract for STEELLONG today open at INR 31,380/MT & last traded (IST 18:06 hrs) at INR 31,800/MT.

-- BSE Sensex closed at 41,253(-304) on Tuesday, as against last day (Monday) at 41,558(-17).

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

Raw Material

-- Melting scrap offers in Western India- Jalna (Maharashtra) incline by INR 200/MT in a day trade activities.

Semi Finished

-- Indian sponge iron (80 FeM, 100% lumps) export offers to Bangladesh rise & stood at around USD 300/MT CPT Benapole, equivalent to USD 310-315/MT CFR Chhittagong, Bangladesh.

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

-- Neo Metaliks in Durgapur has reported steel grade pig iron deals at around INR 27,000/MT ex-plant, unchanged as against last day.

-- The sponge manufacturers in Raipur have kept sponge P-DRI prices firm at INR 19,200/MT and few deals have reported in local market.

-- Central India, Raigarh based sponge manufacturers has concluded few deals of P-DRI sponge at INR 19,200/MT FoR Raipur.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,200/MT & Billet at INR 29,000/MT ex-plant; an official reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,200/MT ex-Bellary, an official reported.

-- BIOP Steels in South India has offered sponge C-DRI FeM 80 & 82 C-DRI lumps at INR 19,200/MT & INR 19,700/MT ex-plant, Karnataka; an official reported.

Rebar (12 mm)

-- Rathi Steels based in North region has unchanged their offer at INR 36,400/MT.

-- Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 34,200/MT(up by INR 200/MT).

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

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 36,100/MT (up by INR 400/MT).

-- Jalna based Gajkesari Steels And Alloys Pvt. Ltd. (Gajkesari TMT) is current offering at INR 35,800/MT.

-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is offering at INR 37,700/MT.

Wire Rod & Pipe

-- Trade discount in Raipur wire rod reported at INR 800-1,000/MT along with steady base price at INR 34,600/MT ex-plant. However in Durgapur trade reference prices up further by INR 200/MT to INR 34,200-34,500/MT ex-Durgapur.

-- APL Apollo Tubes Ltd, has increased ERW Pipe price by INR 1,000/MT to INR 40,500/MT (USD 568); ex-plant in central India, Chhattisgarh for January 2020.

-- ERW Pipe Manufacturers have kept offers unchanged to INR 34,500/MT ex-Raipur & INR 36,800/MT ex-Mandi Gobindgarh.

Reference prices as on 31st December 2019

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	23,500	23,400	23,600	- 100	23,200	22,000
	Ex-Mumbai	HMS(80:20)	22,700	22,600	22,900	0	22,200	21,200
	Ex-Chennai	HMS(80:20)	22,800	22,600	23,000	0	22,100	20,700
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	20,150	20,100	20,200	+ 50	19,200	18,150
	Ex-Rourkela	Mix, FeM 80%, +/-1	19,400	19,300	19,500	+ 300	18,200	16,600
	Ex-Raipur	Mix, FeM 80%, +/-1	20,100	20,000	20,200	0	19,700	17,600
	Ex-Bellary	Lumps, FeM 80%, +/-1	19,200	19,100	19,300	+ 200	18,400	16,800
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	19,200	19,100	19,300	+ 50	18,200	17,100
	Ex-Raipur	Lumps, FeM 80%, +/-1	19,200	19,100	19,300	0	18,800	16,600
	Ex-Bellary	Lumps, FeM 80%, +/-1	19,100	19,000	19,200	+ 100	18,200	16,700
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	19,600	19,500	19,700	+ 100	18,600	17,250
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	32,300	32,200	32,400	+ 450	30,600	29,000
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	29,700	29,600	29,800	+ 200	27,700	26,800
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	28,700	28,600	28,800	+ 200	27,400	25,500
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	29,300	29,200	29,400	+ 200	28,300	26,000
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	31,900	31,800	32,000	0	30,600	28,000
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	32,850	32,800	32,900	+ 350	30,900	29,400
	Ex-Durgapur	100x100 mm, IS 2831	30,000	29,900	30,100	+ 200	28,200	27,100
	Ex-Rourkela	100x100 mm, IS 2831	29,100	29,000	29,200	0	27,900	25,800
	Ex-Raipur	100x100 mm, IS 2831	29,750	29,700	29,800	+ 200	28,800	26,300
	Ex-Ahmedabad	100x100 mm, IS 2831	32,700	32,600	32,800	0	32,100	28,850
	Ex-Mumbai	100x100 mm, IS 2831	32,200	32,100	32,300	- 100	30,800	28,300
	Ex-Chennai	100x100 mm, IS 2831	31,800	31,700	31,900	0	30,700	28,500
	Ex-Hyderabad	100x100 mm, IS 2831	31,000	30,900	31,100	0	29,800	28,000
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	35,300	35,100	35,500	+ 200	33,500	32,000
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	34,000	33,800	34,200	+ 200	32,200	31,200
	Ex-Rourkela	12-25 MM, IS 1786- 500 Fe	33,600	33,500	33,700	0	32,200	30,000
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	32,800	32,700	33,000	0	32,000	29,500
	Ex-Jalna	12-25 MM, IS 1786- 500 Fe	35,900	35,800	36,100	+ 300	34,100	31,200
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	35,500	35,300	35,700	+ 300	34,000	31,700
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	35,000	34,800	35,200	+ 200	34,200	32,100
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	34,700	34,600	34,800	+ 300	33,200	31,500
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	34,300	34,200	34,500	+ 200	32,200	31,000
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	33,800	33,600	34,600	0	32,900	30,400