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 |
Ex-Raipur | Wire Rod(5.5 MM) | 31,900 | 31,700 | 32,200 | + 200 | 32,500 | 33,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research