Daily Update: Indian Steel Market 6 Dec'19
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Indian Steel prices fall further by INR 100-300/MT on day trade activities due to limited inquiries. The participants in major markets reported, thin spot trades & strong supply.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-29,200/MT (USD 360-410) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-18,000/MT (USD 231-252); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 6th December 2019 (Friday) INR to USD exchange rate stood at INR 71.26.
-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 29,180/MT & last traded (IST 18:23 hrs) at INR 29,140/MT.
-- BSE Sensex closed at 40,445(-334) on Friday, as against last day (Thursday) at 40,779(-70).
-- NSE Nifty50 index was closed today at 11,921(-96) & Nifty Metal at 2,535(-8).
Raw Material
-- India's crude steel production accounted for 8.923 MnT in Nov'19, inched down by 2% as against 9.089 MnT in the preceding month.
-- Karnataka based sponge & Pellet manufacturer- BMM Ispat has sold about 15,000 MT pellets in Hyderabad & local market at INR 6,150-6,250/MT (ex-plant) since last 2-3 days.
Semi Finished
-- Indian mid sized mills export offers to Nepal slightly correct and reported at around USD 395/MT for Billet, CPT Raxaul border, Nepal.
-- SAIL's Rourkela Steel Plant tender held today (6th Dec'19) to sell about 7400 MT steel grade pig iron & had received improved response. The base price for the tender was quoted by RSP at INR 23,050/MT and 100% material sold out at INR 23,050-23,150/MT ex-plant.
-- As per sources, small parcels of sponge C-DRI (80 FeM, 100% lumps) have sold to Bangladesh at about USD 270-272/MT CPT Benapole (dry port of India & Bangladesh), this is equivalent to USD 285-288/MT CFR Chittagong, Bangladesh.
-- Rashmi Metaliks in Durgapur has slightly lower sponge P-DRI price by INR 100/MT to INR 17,000-17,100/MT, as per sources.
-- Raipur based sponge manufacturers have kept sponge P-DRI price firm at INR 16,600-700/MT ex-plant, however no major deals learned due to low cost out side material at INR 16,500-16,600/MT on FoR basis.
-- Raigarh based Singhal Steel sold billet at INR 26,200/MT FoR Raipur, officials reported.
-- Odisha based Billet manufacturer booked 900 MT C-DRI mix materials (FeM 80) from local market at around INR 16,500-16,600/MT ex-plant.
-- BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 16,900/MT & INR 17,300/MT ex-plant, Karnataka; an official reported.
-- BMM Ispat, a renowned sponge manufacturer has offered FeM 80 P-DRI lumps at INR 16,900/MT ex-Bellary & about 1,000 MT deals concluded, officials reported.
Rebar (12 mm)
-- Rathi Steels based in North region is offering at INR 32,800/MT (down by INR 300/MT).
-- Uttar Pradesh Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 30,500/MT (down by INR 200/MT).
-- Chhattisgarh Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 32,100/MT.
-- Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 29,900-30,000/MT.
-- Maharashtra Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) has unchanged their offer at INR 31,300/MT.
-- Gujarat based Diamont TMT is current offering at INR 32,700/MT.
-- Chennai based Ponneri Steel Ind. (Triple Power) is current offering at INR 32,500/MT.
-- Gujarat based Akshar Ispat Ltd. (Akshat TMT) is current offering at INR 33,000/MT FoR.
Wire Rod & Pipe
-- RINL has invited a tender for export of 20,000 MT Wire Rod Coil (WRM-2). Interested bidders can submit their bids till 14:00 hrs on 11th Dec'19.
-- Trade discounts in Raipur wire rod unchanged at INR 1,500-1,700/MT through the traders, also base prices steady at INR 31,200/MT (ex-plant) by mills. However in Durgapur trade reference prices drop by INR 200/MT to INR 30,700-31,200/MT ex-plant.
-- In Mandi Gobindgarh Odisha, North India- ERW pipe prices decreased by INR 200/MT to INR 34,000/MT ex-plant. However in Central & East India the prices kept firm at INR 30,600/MT ex-Raipur & INR 30,500-30,700/MT ex-Rourkela; excluding GST.
Reference prices as on 6th December 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,900 | 21,800 | 22,000 | - 100 | 22,200 | 22,200 |
| Ex-Mumbai | HMS(80:20) | 21,400 | 21,300 | 21,500 | 0 | 21,100 | 21,700 | |
| Ex-Chennai | HMS(80:20) | 20,900 | 20,800 | 21,100 | + 100 | 20,600 | 20,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,000 | 17,900 | 18,100 | - 150 | 18,200 | 17,950 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,550 | 16,500 | 16,600 | - 50 | 16,850 | 16,450 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | - 100 | 17,600 | 17,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | 0 | 16,800 | 16,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,000 | 16,900 | 17,100 | - 100 | 17,200 | 16,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | - 100 | 16,700 | 16,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 16,700 | 16,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,250 | 17,200 | 17,300 | 0 | 17,200 | 16,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,800 | 28,700 | 28,900 | - 100 | 29,000 | 28,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,700 | 26,600 | 26,800 | 0 | 26,900 | 26,650 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,300 | 25,200 | 25,400 | - 100 | 25,600 | 25,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,900 | 25,800 | 26,000 | - 50 | 26,050 | 26,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,800 | 27,700 | 27,900 | - 100 | 27,950 | 28,100 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 29,150 | 29,100 | 29,200 | - 150 | 29,400 | 29,300 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 26,900 | 26,800 | 27,000 | - 100 | 27,200 | 26,950 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 25,700 | 25,600 | 25,800 | 0 | 25,950 | 25,900 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 26,150 | 26,100 | 26,200 | - 50 | 26,300 | 26,450 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 28,700 | 28,600 | 28,800 | 0 | 28,800 | 28,450 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 28,100 | 28,000 | 28,200 | - 100 | 28,150 | 28,300 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | + 100 | 28,250 | 27,600 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | - 300 | 27,800 | 27,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 31,700 | 31,500 | 31,900 | - 200 | 32,200 | 33,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,700 | 31,100 | - 200 | 31,200 | 31,100 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 29,900 | 29,800 | 30,000 | - 100 | 30,200 | 30,400 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,400 | 29,300 | 29,500 | 0 | 29,700 | 30,000 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,800 | 31,200 | - 100 | 31,400 | 31,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,700 | 31,500 | 31,900 | 0 | 31,500 | 31,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,900 | 31,800 | 32,100 | - 100 | 31,800 | 31,100 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,100 | - 300 | 31,300 | 31,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,800 | 30,700 | 31,200 | - 200 | 31,100 | 30,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 30,000 | 29,500 | 31,200 | - 100 | 30,500 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
