Daily Update: Indian Steel Market 31 Oct'19
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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 |
