Go to List

Daily Update: Indian Steel Market 4 Sep'19

...

Semi Finished
By
BigMint Bureau
908 Reads
4 Sep 2019, 18:21 IST
Daily Update: Indian Steel Market 4 Sep'19

Spot steel trades improved in Indian domestic market following which the producers have raised prices by INR 100-300/MT in sponge iron and rebar & INR 100-500/MT in Billet, day on day.

The major rise of INR 300-500/MT in Billet recorded in north-east regions, while in remaining market the prices surged upto INR 300/MT on slight better demand, as reported by participants.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,500-29,700/MT (USD 368-413) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-18,000/MT (USD 229-250); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 4th September 2019 (Wednesday) INR to USD exchange rate stood at INR 72.00.

-- ICEX (Indian Commodity Exchange Ltd) Oct'19 contract for STEELLONG today open at INR 29,420/MT & last traded (IST 18:14 hrs) at INR 28,720/MT.

-- BSE Sensex closed at 36,724(+161) on Wednesday, as against last day (Tuesday) at 36,562(-769).

-- NSE Nifty50 index was closed today at 10,844(+46) & Nifty Metal at 2,254(+35).

Raw Materials

-- KIOCL has concluded 50,000 MT pellet export deal consisting of Fe 64% content with less than 2% alumina on 03rd Sept'19 to China at around USD 98/MT, FoB India, which will be equivalent to USD 112-113/MT, CFR China.

-- Indian iron ore imports for the month of Aug'19 have been recorded nil as against 51,470 MT in July'19, according to the data maintained by SteelMint.

-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 265/MT, CFR Nhava Sheva.

Semi Finished

-- SAIL has rolled-over basic grade (steel grade) pig iron offers from its Bhilai Steel Plant (BSP) based in Central India. The latest offers for Steel grade pig iron is reported at around INR 23,800/MT (USD 330) ex-plant & excluding GST.

-- Mid sized mills export offers to Nepal increased further and stood at around USD 365-370/MT for Billet (100*100mm) & USD 415-420-425/MT for Wire rod(5.5mm) ex-mill at Durgapur, Eastern India.

-- Indian sponge iron export offers to Bangladesh is hovering at USD 265-270/MT CPT Benapole(dry port of India & Bangladesh), equivalent to USD 285/MT CFR Chittagong, Bangladesh.

-- Raipur based sponge producers have raised prices by INR 100-200/MT and reported deals at INR 16,000-16,100/MT for P-DRI & INR 18,300-18,400/MT for DR-CLO grade ex-plant.

-- Rashmi Metaliks in Durgapur has increased sponge P-DRI prices by INR 200/MT to INR 17,000-17,100/MT.

-- Raigarh based Singhal Steel offered P-DRI at INR 15,500/MT & Billet at INR 26,500/MT ex-Raigarh, officials reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,400-16,500/MT ex-Bellary, an official reported.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,600/MT & INR 17,000/MT ex-plant, Karnataka; an official reported.

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod narrowed down sharply by INR 500/MT to INR 1,000-1,200/MT amid unaltered base price at INR 31,200/MT ex-plant. Also in Durgapur trade reference prices moved up by INR 400/MT to INR 30,600-31,000/MT ex-plant.

-- APL Apollo cut PIPE prices by INR 1500/MT for September'19 - Sources

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 31,400-31,500/MT ex-plant & excluding GST.

Rebar (12 mm)

-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 31,100/MT (up by INR 200/MT).

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 32,300/MT FoR.

-- Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 30,300-30,500/MT.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is current offering at INR 31,800/MT.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 31,800/MT.

-- Rathi Steels based in North region is current offering around INR 33,800/MT.

-- Odisha based Subhlabh TMT offers reported at INR 30,500/MT

Note - Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.

Reference prices as on 4th September 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 21,000 20,900 21,100 0 22,100 21,500
Ex-Mumbai HMS(80:20) 21,400 21,300 21,500 0 21,800 20,700
Ex-Chennai HMS(80:20) 20,400 20,200 20,500 + 100 20,600 20,400
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 18,050 18,000 18,100 + 250 18,000 15,800
Ex-Rourkela Mix, FeM 80%, +/-1 16,600 16,500 16,700 + 300 16,600 15,900
Ex-Raipur Mix, FeM 80%, +/-1 17,350 17,300 17,400 + 150 17,400 16,700
Ex-Bellary Lumps, FeM 80%, +/-1 16,600 16,500 16,700 0 16,800 16,300
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 17,050 17,000 17,100 + 250 17,000 14,800
Ex-Raipur Lumps, FeM 80%, +/-1 16,000 15,900 16,100 + 150 16,300 15,750
Ex-Bellary Lumps, FeM 80%, +/-1 16,400 16,300 16,500 + 100 16,400 15,700
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,800 16,700 16,900 + 100 16,800 16,200
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 29,700 29,600 29,800 + 750 29,500 27,200
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,700 26,600 26,800 + 300 26,700 25,000
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 26,100 26,000 26,200 + 500 26,100 24,400
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,500 26,400 26,600 + 400 26,400 24,900
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 27,300 27,200 27,400 - 50 28,300 26,850
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,700 29,600 29,800 + 500 29,600 27,300
Ex-Durgapur 100x100 mm, IS 2831 27,000 26,900 27,100 + 300 27,000 25,400
Ex-Rourkela 100x100 mm, IS 2831 26,500 26,400 26,500 + 500 26,400 24,700
Ex-Raipur 100x100 mm, IS 2831 27,000 26,900 27,100 + 400 27,000 25,300
Ex-Ahmedabad 100x100 mm, IS 2831 27,700 27,600 27,800 + 150 28,800 27,000
Ex-Mumbai 100x100 mm, IS 2831 27,500 27,400 27,600 - 50 28,500 27,150
Ex-Chennai 100x100 mm, IS 2831 28,000 27,900 28,100 0 28,500 28,700
Ex-Hyderabad 100x100 mm, IS 2831 26,700 26,500 27,000 + 200 27,000 27,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,500 32,300 32,700 + 200 33,400 32,600
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 31,100 30,900 31,300 + 300 31,400 29,200
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 30,400 30,300 30,500 + 200 30,500 29,200
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 30,300 30,200 30,500 + 200 30,400 28,500
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31,400 31,300 31,600 - 100 31,800 30,700
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 30,500 30,300 30,700 - 200 31,300 30,100
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 32,100 32,000 32,300 0 32,300 33,000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 30,800 30,600 31,000 + 300 31,000 31,200
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 30,800 30,600 31,000 + 400 31,000 29,300
Ex-Raipur Wire Rod(5.5 MM) 30,300 30,000 31,200 + 300 30,900 29,500

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

4 Sep 2019, 18:21 IST

 

 

You have 0 complimentary insights remaining! Stay informed with BigMint
Login Buy Now
Related Insights
No related insights found
;