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Daily Update: Indian Steel Market 31 Oct'19

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31 Oct 2019, 18:58 IST
Daily Update: Indian Steel Market 31 Oct'19

Indian Billet prices increase further on improved demand from the local mills. Today the prices surged near to INR 100-600/MT (upto USD 9).

On day trade activities, the major rise in Billet prices seen in North & Eastern India by INR 400-600/MT followed by INR 100-300/MT in remaining locations.

Following the surge in billet prices, Sponge iron prices increased by INR 100/MT day-on-day in major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-28,900/MT (USD 361-407) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,100-17,300/MT (USD 226-244); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 31st October 2019 (Thursday) INR to USD exchange rate stood at INR 70.93.

-- ICEX (Indian Commodity Exchange Ltd) Dec'19 contract for STEELLONG today open at INR 28,140/MT & last traded (IST 18:02 hrs) at INR 28,330/MT.

-- BSE Sensex closed at 40,129(+77) on Thursday, as against last day (Wednesday) at 40,051(+220).

-- NSE Nifty50 index was closed today at 11,877(+33) & Nifty Metal at 2,500(-13).

Raw Materials

-- An eastern India based pellet maker has concluded an export deal around 50,000 MT for regular grade pellets (Fe 64%, containing 3% alumina) to China at around USD 102/MT, CFR China.

-- Silicon Manganese (60-14) trade reference prices in Raipur are hovering at INR 56,000-56,500/MT ex-plant.

-- The manufacturers in Raipur reported pellet deals for 5,000 MT in local market at INR 5,750/MT & about 3,000 MT sold to outside at INR 5,650/MT; both on ex-plant basis & Fe 63%.

-- Melting scrap offers in Western India- Jalna (Maharashtra) incline by INR 300/MT in a day trade activities

Semi Finished

-- As per sources in central India (Raipur), they have booked approximately 10,000-15,000 MT pig iron from SAIL's BSP at an average price of INR 23,200-23,300/MT ex-plant, which is equivalent to INR 23,600-23,700/MT FoR Raipur.

-- Rashmi Metaliks in Durgapur have slightly raised sponge prices and as per sources P-DRI traded at around INR 16,200/MT.

-- Electrosteels based in Bokaro, Jharkhand has traded steel grade pig iron at around INR 23,000/MT ex-plant

-- Raipur based one of the major sponge producer has sold about 6,000 MT P-DRI at INR 15,600-15,700/MT, while offers by mid sized plants hovering at INR 15,700-15,900/MT; ex-plant.

-- Billet deals learned at INR 26,400/MT FoR Raipur from Raigarh based manufacturers.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,200/MT ex-plant.

-- Raipur based mills sourcing sponge pellet from Odisha at around INR 15,900/MT FoR Raipur.

-- East India, Odisha based manufacturer, Mahavir Ferro Alloys offered C-DRI mix material at INR 16,500/MT ex-plant as per officials. And added no major deals at the offer price.

-- Apple Industries in Bellary (Karnataka) offered Billet at INR 26,800/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,000-16,100/MT ex-Bellary, an official reported.

Wire Rod & Pipe

-- ERW pipe manufacturers in Odisha, east India has reduced offers by INR 300/MT & reported at INR 30,000-30, 200/MT ex-plant & excluding GST-Sources.

-- Trade discounts in Raipur wire rod through traders were at INR 1,200-1,300/MT & by plants at INR 700-900/MT. However base prices were firm at INR 31,300/MT ex-Raipur & up by INR 100/MT to INR 29,800-30,300/MT ex-Durgapur.

Reference prices as on 31st October 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 21,800 21,700 21,900 + 100 21,300 21,800
Ex-Mumbai HMS(80:20) 21,200 21,000 21,300 + 200 20,600 21,300
Ex-Chennai HMS(80:20) 19,600 19,400 19,800 0 19,400 19,700
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,300 17,200 17,400 + 100 16,900 16,650
Ex-Rourkela Mix, FeM 80%, +/-1 16,100 16,000 16,200 + 100 15,900 16,500
Ex-Raipur Mix, FeM 80%, +/-1 16,700 16,600 16,800 - 50 16,500 17,100
Ex-Bellary Lumps, FeM 80%, +/-1 16,300 16,200 16,400 0 16,200 16,500
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,200 16,100 16,300 + 100 15,700 15,550
Ex-Raipur Lumps, FeM 80%, +/-1 15,750 15,700 15,800 0 15,450 15,800
Ex-Bellary Lumps, FeM 80%, +/-1 16,000 15,900 16,100 0 15,800 16,000
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,400 16,300 16,500 0 16,300 16,600
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 28,650 28,600 28,700 + 550 28,100 28,550
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,200 26,100 26,300 + 200 25,800 25,900
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,350 25,300 25,400 + 250 25,000 25,450
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 25,800 25,700 25,900 + 200 25,400 25,800
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 28,100 28,000 28,200 + 250 27,500 27,700
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 28,900 28,800 29,000 + 600 28,300 28,800
Ex-Durgapur 100x100 mm, IS 2831 26,500 26,400 26,600 + 100 26,100 26,200
Ex-Rourkela 100x100 mm, IS 2831 25,700 25,600 25,800 + 300 25,300 25,700
Ex-Raipur 100x100 mm, IS 2831 26,300 26,200 26,400 + 250 25,850 26,250
Ex-Ahmedabad 100x100 mm, IS 2831 28,650 28,600 28,700 + 50 28,300 28,000
Ex-Mumbai 100x100 mm, IS 2831 28,350 28,300 28,400 + 250 27,700 27,900
Ex-Chennai 100x100 mm, IS 2831 27,200 27,100 27,300 0 27,100 27,000
Ex-Hyderabad 100x100 mm, IS 2831 26,500 26,400 26,600 0 26,000 26,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,300 32,100 32,500 0 32,000 32,100
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 30,400 30,200 30,600 0 30,200 30,000
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 30,400 30,300 30,500 + 100 30,400 30,600
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 29,800 29,700 29,900 0 29,600 30,300
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31,200 31,100 31,400 + 200 30,800 31,200
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 31,700 31,500 31,900 + 200 31,100 31,000
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 30,900 30,800 31,100 0 30,900 31,400
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 30,000 29,800 30,100 0 29,900 30,400
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 29,900 29,800 30,300 + 100 29,700 29,800
Ex-Raipur Wire Rod(5.5 MM) 30,500 30,000 31,300 + 100 30,400 30,300

31 Oct 2019, 18:58 IST

 

 

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