Daily Update: Indian Steel Market 5 Mar'20
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Indian Semi finished steel prices drop over limited trade inquiries, as per participants. The prices of sponge iron & billet declined by INR 100-500/MT, day on day, in major markets.
However in western region, prices increased by INR 400-600/MT in Mumbai & Jalna locations on slight better demand.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 27,900-31,500/MT (USD 380-429) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 17,900-19,000/MT (USD 243-259); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 5th March 2020 (Thursday) INR to USD exchange rate stood at INR 73.39.
-- ICEX (Indian Commodity Exchange Ltd) Apr'20 contract for STEELLONG today open at INR 31,060/MT & last traded (IST 18:39 hrs) at INR 31,190/MT.
-- BSE Sensex closed at 38,470(+61) on Thursday, as against last day (Wednesday) at 38,409 (-214).
-- NSE Nifty50 index was closed today at 11,269(+18) & Nifty Metal at 2,284(-19).
Raw Material
-- Indian pellet export price assessment has come down this week by USD 4/MT to USD 116/MT, CFR China
-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 298/MT, CNF Nhava Sheva.
Semi Finished
-- Durgapur based manufacturer has sold about 1,500 MT steel grade pig iron to Ludhiana at INR 26,400/MT ex-plant & freight cost learned at INR 2,600/MT.
-- Rashmi Metaliks in Durgapur has further reduced sponge P-DRI offers by INR 100/MT to INR 18,000/MT, as per sources.
-- Neo Metaliks in Durgapur has lowered steel grade pig iron prices to INR 26,500-26,700/MT ex-plant.
-- Foundry grade pig iron prices in northern India increases due to logistic issue/short supply and reported at INR 30,800-31,000/MT FoR Ludhiana & INR 30,300-30,500/MT ex-Delhi.
-- About 1,000 MT induction grade billet (100*100mm) export deals reported to Nepal at an average price of USD 378-380/MT. Also small lots of wire rod (5.5 mm) deals learned by medium scale mills at near to USD 428/MT. Prices are ex-mill at Durgapur (eastern India) via road delivery.
-- Raipur based manufacturers have further slashed sponge P-DRI offers by INR 100/MT to INR 18,000-18,100/MT ex-plant, however deals mostly from Raigarh & Odisha at INR 18,000/MT FoR Raipur.
-- Billet deals learned at INR 28,500/MT FoR Raipur from Raigarh based manufacturers.
-- Odisha based sponge manufacturer has sold around 1,500 MT FeM 80 C-DRI lumps to Jalna (Maharashtra) at around INR 20,300-20,400/MT FoR Jalna.
-- Apple Industries in Bellary (Karnataka) offered Billet at INR 30,000/MT ex-plant.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,000/MT & Billet at INR 27,500/MT ex-plant; an official reported.
-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 18,200/MT ex-plant.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,600-17,800/MT ex-Bellary & around 6,000 MT deals reported in nearby market.
Rebar (12 mm)
-- Rathi Steels based in North region is offering around INR 35,600/MT.
-- Muzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 33,200/MT (down by INR 400/MT).
-- Raipur based Real Ispat (GK TMT) is offering at INR 34,900/MT.
-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 32,100/MT.
-- Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 32,400-32,500/MT
-- Gujarat based Vinayak TMT Pvt. Ltd is offering at INR 35,400/MT.
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 36,500/MT (up by INR 600/MT).
Wire Rod & Pipe
-- Trade discount in Raipur wire rod remain firm at INR 600-700/MT and trade reference price stands at INR 31,400-31,700/MT ex-Raipur & INR 31,500-31,700/MT ex-Durgapur.
-- ERW Pipe Manufacturers in Northern India have decreased offers by INR 300/MT to INR 36,000/MT ex-Mandi Gobindgarh.
Reference prices as on 5th March 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,000 | 22,900 | 23,100 | - 100 | 24,000 | 23,800 |
| Ex-Mumbai | HMS(80:20) | 23,200 | 23,100 | 23,300 | - 100 | 23,700 | 22,700 | |
| Ex-Chennai | HMS(80:20) | 22,000 | 21,800 | 22,200 | 0 | 22,100 | 22,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,800 | 18,700 | 18,900 | - 200 | 19,400 | 20,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,000 | 17,900 | 18,100 | - 350 | 18,550 | 19,300 | |
| Ex-Raipur | 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 | 20,000 | 19,900 | 20,100 | - 100 | 20,300 | 21,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,900 | 17,800 | 18,000 | - 300 | 18,300 | 18,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,850 | 17,800 | 17,900 | - 150 | 18,500 | 19,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,000 | 17,900 | 18,100 | - 100 | 18,450 | 19,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,700 | 17,600 | 17,800 | - 300 | 18,100 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,200 | 18,100 | 18,300 | - 350 | 18,700 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | - 50 | 31,800 | 31,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,550 | 27,500 | 27,600 | - 200 | 28,600 | 29,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,700 | 27,600 | 27,800 | - 150 | 28,400 | 28,550 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,900 | 28,100 | - 150 | 28,700 | 29,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | + 550 | 30,800 | 30,700 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | - 100 | 32,100 | 32,200 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 28,100 | 28,000 | 28,200 | - 200 | 29,100 | 30,000 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 27,900 | 27,800 | 2,800 | - 300 | 28,700 | 29,100 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 28,450 | 28,400 | 28,500 | - 100 | 29,200 | 29,700 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 29,700 | 29,500 | 29,800 | - 100 | 31,350 | 31,200 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | + 600 | 31,300 | 31,000 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 30,800 | 30,800 | 31,000 | 0 | 31,000 | 30,700 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 29,500 | 29,400 | 29,600 | - 500 | 30,500 | 31,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 34,500 | 34,300 | 34,700 | - 300 | 35,600 | 35,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 32,100 | 31,900 | 32,300 | - 400 | 33,100 | 34,100 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 32,500 | 32,400 | 32,600 | - 200 | 33,000 | 33,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 32,600 | 32,500 | 32,700 | + 100 | 33,100 | 33,300 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,200 | 36,400 | + 600 | 36,200 | 35,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,100 | 34,900 | 35,300 | + 400 | 35,500 | 34,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 34,900 | 34,800 | 35,200 | 0 | 34,800 | 35,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,000 | 33,900 | 34,100 | - 500 | 34,800 | 34,900 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,700 | 31,500 | 32,000 | - 100 | 32,400 | 33,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 31,700 | 31,400 | 32,100 | - 100 | 32,600 | 33,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
