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Daily Update: Indian Steel Market 31 Jan'20

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Semi Finished
By
BigMint Bureau
844 Reads
31 Jan 2020, 18:54 IST
Daily Update: Indian Steel Market 31 Jan'20

Indian semi finished market reported mix trends while billet offers decline by INR 100-300/MT & sponge fluctuated by INR 100-200/MT in major markets.

In context to finished long (Rebar), prices marginally fluctuated by INR 100-300/MT in major locations on average trade activities.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 29,200-32,600/MT (USD 408-456) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,900-20,600/MT (USD 264-289); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 31st January 2020 (Friday) INR to USD exchange rate stood at INR 71.38.

-- ICEX (Indian Commodity Exchange Ltd) Feb'20 contract for STEELLONG today open at INR 32,540/MT & last traded (IST 18:30 hrs) at INR 32,450/MT.

-- BSE Sensex closed at 40,723(-190) on Friday, as against last day (Thursday) at 40,913(-284).

-- NSE Nifty50 index was closed today at 11,962(-73) & Nifty Metal at 2,569(-59).

Raw Material

-- As per assessment containerized Shredded 211 from North America and Europe to India now stands at USD 290-294/MT CFR, down by USD 6-8/MT W-o-W, against USD 295-299/MT.

-- Melting scrap offers in Western India- Mumbai (Maharashtra) decline by INR 100-200/MT in a day trade activity.

Semi Finished

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

-- Officials from Neo Metaliks, Durgapur stated limited inquiries for the steel grade pig iron at prevailing offers of INR 28,500/MT ex-plant.

-- Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 30,300/MT & INR 31,100/MT on FoR basis & excluding 18% GST.

-- Raipur based sponge P-DRI makers have slightly reduced their offers by INR 100-200/MT to INR 19,200/MT ex-plant

-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 19,400-19,500/MT, ex-plant & excluding GST

-- 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 18,700-18,800/MT ex-Bellary, Karnataka.

-- 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.

Rebar (12 mm)

-- Rathi Steels based in North region has unchanged their offer at INR 37,400/MT.

-- Muzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 34,900/MT (down by INR 100/MT).

-- Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 35,600/MT.

-- Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 33,600-33,700/MT.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 36,300/MT.

-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) has unchanged their offer at INR 36,300/MT.

-- Gujarat based, Mono Steel (India) Ltd. (Mono TMT) is current offering at INR 37,300/MT FoR.

Wire Rod & Pipe

-- APL Apollo Tubes Ltd, has to increase Pipe price by INR 1,000/MT to INR 43,500/MT (USD 610); ex-plant in central India, Chhattisgarh for Feb'20.

-- ERW Pipe offers by fluctuated INR 100-300/MT to INR 34,600-34,800/MT ex-Raipur, INR 36,800/MT ex-Mandi Gobindgarh & INR 34,500/MT ex-Rourkela.

Reference prices as on 31st 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 0 24,200 24,400
Ex-Mumbai HMS(80:20) 22,900 22,800 23,100 - 100 23,200 23,000
Ex-Chennai HMS(80:20) 22,700 22,500 22,800 - 100 23,400 23,200
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,600 20,500 20,700 0 20,700 20,200
Ex-Rourkela Mix, FeM 80%, +/-1 19,500 19,400 19,600 0 19,500 19,900
Ex-Raipur Mix, FeM 80%, +/-1 20,300 20,200 20,400 + 100 20,600 20,900
Ex-Bellary Lumps, FeM 80%, +/-1 18,900 18,800 19,000 - 100 19,200 19,500
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,600 19,500 19,700 0 19,750 19,300
Ex-Raipur Lumps, FeM 80%, +/-1 19,200 19,100 19,300 - 100 19,700 20,100
Ex-Bellary Lumps, FeM 80%, +/-1 18,600 18,500 18,700 - 100 18,900 19,300
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,200 19,100 19,300 - 100 19,500 19,800
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 32,050 32,000 32,100 - 250 32,500 32,500
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 29,900 29,800 30,000 - 100 30,200 30,000
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 28,800 28,700 28,900 - 100 28,950 29,650
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 29,100 29,000 29,200 - 100 29,550 30,100
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 31,500 31,400 31,600 - 300 32,000 32,200
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 32,550 32,500 32,600 - 250 32,900 33,000
Ex-Durgapur 100x100 mm, IS 2831 30,350 30,300 30,400 - 50 30,700 30,250
Ex-Rourkela 100x100 mm, IS 2831 29,250 29,200 29,300 + 50 29,500 29,900
Ex-Raipur 100x100 mm, IS 2831 29,700 29,600 29,800 - 100 30,100 30,600
Ex-Ahmedabad 100x100 mm, IS 2831 32,000 31,900 32,100 - 300 32,900 32,900
Ex-Mumbai 100x100 mm, IS 2831 31,900 31,800 32,000 - 300 32,300 32,500
Ex-Chennai 100x100 mm, IS 2831 31,500 31,400 31,600 0 31,900 32,800
Ex-Hyderabad 100x100 mm, IS 2831 31,000 30,900 31,100 0 31,300 31,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 36,200 36,000 36,400 - 100 36,800 36,200
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 34,200 34,000 34,600 - 100 34,600 34,600
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 33,600 33,500 33,700 + 100 33,700 34,300
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 33,400 33,400 33,600 - 100 33,500 34,200
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 36,100 35,900 36,300 0 36,200 36,300
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 35,800 35,600 36,000 0 36,200 35,800
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 35,600 35,500 35,800 - 100 36,000 36,300
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 34,800 34,700 34,900 + 100 35,000 35,200
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 34,000 34,000 34,300 - 100 34,700 34,800
Ex-Raipur Wire Rod(5.5 MM) 33,100 33,000 33,300 0 33,700 34,800

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

31 Jan 2020, 18:54 IST

 

 

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