Go to List

Daily Update: Indian Steel Market 6 Mar'20

...

Semi Finished

724 Reads

6 Mar 2020, 18:28 IST

Daily Update: Indian Steel Market 6 Mar'20

Indian Semi-finished steel prices rise on account of improved spot trades amid rising demand with the mid sized mills.

As per assessment, the sponge iron prices rallied by INR 100-300/MT & Billet by INR 100-500/MT. And Rebar offers rise by INR 100-500/MT, day on day in major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 28,000-31,500/MT (USD 379-427) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,100-19,300/MT (USD 245-262); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 6th March 2020 (Friday) INR to USD exchange rate stood at INR 73.84.

-- ICEX (Indian Commodity Exchange Ltd) Apr'20 contract for STEELLONG today open at INR 31,140/MT & last traded (IST 17:57 hrs) at INR 31,000/MT.

-- BSE Sensex closed at 37,576(-893) on Friday, as against last day (Thursday) at 38,470(+61).

-- NSE Nifty50 index was closed today at 10,989(-279) & Nifty Metal at 2,183(-100).

Raw Material

-- Melting scrap offers in Western India- Gujarat incline by INR 400/MT in a day trade activities.

Semi Finished

-- RINL's PIG IRON auction for 1,500 MT received bids at INR 25,500-600/MT (EXW-Vizag), entire qty sold, as per market sources.

-- Central India based SAIL's BSP reduced steel grade Pig Iron price by INR 500/MT to INR 27,500/MT EXW-Bhilai.

-- Raigarh, Central India based Pig iron manufacturer concluded a bulk deal of around 1,000 MT at INR 27,000-27,200/MT ex-plant.

-- Rashmi Metaliks in Durgapur has increased sponge P-DRI price by INR 100-200/MT to INR 18,100/MT, as per sources.

-- Sponge iron demand improved in Raipur as about 4,000-5,000 MT deals reported at INR 18,300-400/MT ex-plant for P-DRI.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,800/MT ex-Bellary.

-- BIOP Steels in South India has increased sponge prices by INR 200-300/MT, offering FeM 80 & 82 C-DRI lumps at INR 18,200/MT & INR 18,600/MT ex-plant, Karnataka; an official reported.

-- NMDC offering sponge C-DRI lumps at INR 17,500/MT & Fines at INR 16,500/MT ex-plant, Telangana.

Rebar (12 mm)

-- Rathi Steels based in North region is offering around INR 35,700/MT.

-- Muzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 33,400/MT (up by INR 200/MT).

-- Raipur based Real Ispat (GK TMT) is offering at INR 35,100/MT (up by INR 200/MT).

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 32,300/MT (up by INR 200/MT).

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 36,500/MT.

-- Chennai based Suryadev Alloys and Power Limited (Best TMT) is offering around INR 35,500/MT.

-- Chennai based Ponneri Steel Ind. (Triple Power) is offering around at INR 35,500/MT

Wire Rod & Pipe

-- Trade discount in Raipur wire rod drop by INR 200/MT to INR 500-600/MT by traders and trade reference price stood at INR 31,700-900/MT ex-Raipur & INR 31,600-32,000/MT ex-Durgapur, up by INR 200-300/MT day on day.

-- ERW Pipe Manufacturers have decreased offers by INR 200-300/MT to INR 33,000-33,200/MT ex-Raipur, INR 35,900/MT ex-Mandi Gobindgarh & INR 33,200-33,300/MT ex-Rourkela.

Reference prices as on 6th March 2020

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	23,400	23,300	23,500	+ 400	23,900	23,600
	Ex-Mumbai	HMS(80:20)	23,500	23,400	23,600	+ 300	23,700	22,700
	Ex-Chennai	HMS(80:20)	22,100	22,000	22,400	+ 100	22,100	22,100
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	19,000	18,900	19,100	+ 200	19,400	20,000
	Ex-Rourkela	Mix, FeM 80%, +/-1	18,100	18,000	18,200	+ 100	18,550	19,300
	Ex-Raipur	0-20 mm, -1 mm (20-25%), FeM 82%, +/-1	20,250	20,200	20,300	+ 250	20,300	21,100
	Ex-Bellary	Lumps, FeM 80%, +/-1	18,100	18,000	18,200	+ 200	18,300	18,900
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	18,100	18,000	18,200	+ 250	18,500	19,000
	Ex-Raipur	Lumps, FeM 80%, +/-1	18,350	18,300	18,400	+ 350	18,400	19,200
	Ex-Bellary	Lumps, FeM 80%, +/-1	17,900	17,800	18,000	+ 200	18,100	18,900
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	18,400	18,300	18,500	+ 200	18,600	19,300
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	31,300	31,200	31,400	+ 100	31,850	31,700
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	27,800	27,700	27,900	+ 250	28,600	29,400
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	27,800	27,700	27,900	+ 100	28,350	28,600
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	28,350	28,300	28,400	+ 350	28,800	29,000
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	30,500	30,400	30,600	0	30,600	30,500
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	31,500	31,400	31,600	0	32,200	32,200
	Ex-Durgapur	100x100 mm, IS 2831	28,400	28,300	28,500	+ 300	29,150	29,900
	Ex-Rourkela	100x100 mm, IS 2831	28,000	27,900	28,100	+ 100	28,650	29,000
	Ex-Raipur	100x100 mm, IS 2831	28,650	28,600	28,700	+ 200	29,200	29,500
	Ex-Ahmedabad	100x100 mm, IS 2831	30,000	30,000	30,200	+ 300	30,800	31,000
	Ex-Mumbai	100x100 mm, IS 2831	31,000	30,900	31,100	0	31,000	30,900
	Ex-Chennai	100x100 mm, IS 2831	30,800	30,700	30,900	0	31,000	31,000
	Ex-Hyderabad	100x100 mm, IS 2831	30,000	29,900	30,100	+ 500	30,500	31,000
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	34,600	34,400	34,700	+ 100	35,400	35,800
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	32,400	32,200	32,600	+ 300	33,000	34,000
	Ex-Rourkela	12-25 MM, IS 1786- 500 Fe	32,900	32,800	33,000	+ 400	33,000	33,500
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	32,600	32,500	32,800	0	33,100	33,300
	Ex-Jalna	12-25 MM, IS 1786- 500 Fe	36,300	36,100	36,400	0	36,200	35,800
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	35,100	34,900	35,300	0	35,500	34,900
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	34,900	34,800	35,200	0	35,000	35,500
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	34,500	34,400	34,600	+ 500	34,500	35,000
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	31,800	31,600	32,000	+ 100	32,400	33,600
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	31,900	31,700	32,200	+ 200	32,500	33,000