Daily Update: Indian Steel Market 5 Nov'19
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Indian billet prices fluctuated by INR 100-200/MT today amid average spot trades. However rebar & sponge prices surge sharply by INR 100-500/MT day on day through the mid sized mills.
As per participants, trades are active, hence prices should remain supported. Also inventories are less than the average with the most of standalone mills, they added.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,200-29,100/MT (USD 370-412) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-18,000/MT (USD 233-255); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 5th November 2019 (Tuesday) INR to USD exchange rate stood at INR 70.67.
-- ICEX (Indian Commodity Exchange Ltd) Dec'19 contract for STEELLONG today open at INR 28,400/MT & last traded (IST 18:22 hrs) at INR 28,380/MT.
-- BSE Sensex closed at 40,248(-53) on Tuesday, as against last day (Monday) at 40,301(+136).
-- NSE Nifty50 index was closed today at 11,917(-24) & Nifty Metal at 2,616(-25).
Raw Materials
-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at USD 255-260/MT, CFR Nhava Sheva.
-- Melting scrap offers in Western India- Gujarat incline by INR 300/MT in a day trade activities.
-- As per officials, Karnataka based sponge manufacturer- BMM Ispat has sold about 10,000 MT pellets in local market at INR 6,100-6,200/MT ex-plant.
Semi Finished
-- Mesco Steels in Jajpur, Odisha has increased steel grade pig iron price by INR 200-300/MT to INR 23,000/MT ex-plant.
-- Rashmi Metaliks in Durgapur has further raised Sponge P-DRI prices by INR 200/MT to INR 16,900/MT, as per sources.
-- Neo Metaliks in Durgapur has traded steel grade pig iron at INR 23,800-24,000/MT (ex-plant); prices up by INR 300-500/MT day-on-day.
-- Raipur based one of the major Sponge P-DRI producer has sharply raised price by INR 400/MT to INR 16,400-16,500/MT (ex-plant), however as per sources no trades as healthy volumes sold last day.
-- East India, Odisha based manufacturer, Mahavir Ferro Alloys offered C-DRI mix material at INR 16,500/MT ex-plant as per officials.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,200-16,300/MT ex-Bellary, offers incline by INR 200/MT from the last trade; an official reported.
-- BIOP Steels in South India has increased sponge prices by INR 100-200/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,700/MT & INR 17,100/MT ex-plant, Karnataka; an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 17,500/MT & Billet at INR 27,000/MT ex-plant.
Rebar (12 mm)
-- Rathi Steels based in North region is offering at INR 34,300/MT ( up by INR 300/MT).
-- Raipur based Real Ispat (GK TMT) has unchanged their offers at INR 32,800/MT.
-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 31,100/MT ( up by INR 400/MT).
-- Gujarat based, Mono Steel (India) Ltd. (Mono TMT) is current offering at INR 32,400/MT FoR.
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is current offering at INR 32,100/MT (up by INR 500/MT).
-- Jalna based Gajkesari Steels And Alloys Private Limited(Gakkesari TMT) is current offering at INR 31,600/MT.
-- Chennai based Kamachi Industries Ltd. (KAMACHI TMT) is offering at INR 32,500/MT.
Wire Rod & Pipe
-- Trade discounts in Raipur wire rod through traders were at around INR 1,100-1,200/MT & by manufacturers at around INR 800/MT amid steady base price at INR 31,600/MT. However in Durgapur trade reference prices up by INR 400/MT to INR 30,600-31,300/MT ex-plant.
-- ERW Pipe Manufacturers in North & Central India have increased their offers by around INR 200/MT in a day trade activities. Offers reported at INR 30,600-30,800/MT ex-Raipur & INR 33,600/MT ex-Mandi Gobindgarh.
Reference prices as on 5th November 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,300 | 22,200 | 22,400 | + 300 | 21,800 | 21,700 |
| Ex-Mumbai | HMS(80:20) | 21,400 | 21,300 | 21,600 | 0 | 20,900 | 20,600 | |
| Ex-Chennai | HMS(80:20) | 19,800 | 19,600 | 20,000 | 0 | 19,600 | 19,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,000 | 17,900 | 18,100 | + 400 | 17,100 | NA |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | + 100 | 16,000 | 16,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,300 | 17,200 | 17,400 | + 300 | 16,700 | 17,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | + 200 | 16,400 | 16,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,900 | 16,800 | 17,000 | + 300 | 15,950 | NA |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | + 300 | 15,700 | 15,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,450 | 16,400 | 16,500 | + 200 | 16,000 | 15,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,600 | 16,400 | 16,600 | + 100 | 16,400 | 16,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,900 | 28,800 | 29,000 | - 50 | 28,200 | 28,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,800 | 26,700 | 26,900 | + 200 | 26,000 | 25,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | + 300 | 25,200 | 25,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,150 | 26,100 | 26,200 | + 50 | 25,700 | 25,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,200 | 28,100 | 28,300 | + 100 | 27,900 | 27,400 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 29,100 | 29,000 | 29,200 | - 100 | 28,400 | 28,600 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 27,100 | 27,000 | 27,200 | + 200 | 26,400 | 26,100 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 26,200 | 26,100 | 26,300 | + 300 | 25,500 | 25,600 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 26,550 | 26,500 | 26,600 | - 50 | 26,200 | 26,100 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 28,800 | 28,700 | 28,900 | + 150 | 28,550 | 27,800 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 28,350 | 28,300 | 28,450 | + 50 | 28,100 | 27,600 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 27,400 | 27,300 | 27,500 | - 100 | 27,300 | 27,200 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 26,500 | 26,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 33,300 | 33,100 | 33,500 | + 300 | 32,300 | 31,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | + 400 | 30,200 | NA | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 30,800 | 30,700 | 31,000 | + 200 | 30,300 | 30,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 30,100 | 30,000 | 30,200 | + 100 | 29,800 | 30,100 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,900 | 31,800 | 32,100 | + 600 | 30,900 | 30,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 32,000 | 0 | 31,500 | 30,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,200 | 31,000 | 31,300 | 0 | 30,900 | 31,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,300 | 31,100 | 31,500 | + 500 | 30,200 | 29,800 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,800 | 30,600 | 31,300 | + 400 | 29,800 | 29,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,900 | 30,500 | 31,600 | + 100 | 30,400 | 30,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
