Daily Update: Indian Steel Market 7 Jan'20
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Indian Spot steel trades gradually improved and the prices rise by INR 100-800/MT day on day
As per daily assessment, the Rebar prices surge by INR 300-800/MT, Billet by INR 100-500/MT & Sponge iron by INR 100-300/MT in major markets of Central, East, North & Western India.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 29,800-33,200/MT (USD 415-462) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,500-20,800/MT (USD 271-290); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 7th January 2020 (Tuesday) INR to USD exchange rate stood at INR 71.83.
-- ICEX (Indian Commodity Exchange Ltd) Feb'20 contract for STEELLONG today open at INR 32,120/MT & last traded (IST 18:28 hrs) at INR 32,480/MT.
-- BSE Sensex closed at 40,869(+192) on Tuesday, as against last day (Monday) at 40,676(-787).
-- NSE Nifty50 index was closed today at 12,052(+59) & Nifty Metal at 2,785(+20).
Raw Material
-- In Central India, Raipur- deals of around 20,000 MT pellet reported this week at INR 7,400/MT (Ex-Plant).
-- Indian iron ore imports for Dec'19 depicted 17% drop on monthly basis to 0.10 MnT as against 0.12 MnT in Nov'19.
Semi Finished
-- SAIL has invited export tender for 20,000 MT Prime Mild Steel Non-Alloy Concast billets from Durgapur Steel plant. The last date for bid submission is 10 Jan'20.
-- Rashmi Metaliks in Durgapur has increased Sponge P-DRI price by INR 200/MT to INR 19,500/MT, as per sources.
-- The sponge manufacturers in Raipur have sharply raised P-DRI prices by INR 200/MT to INR 20,300-20,500/MT, however buying interest reported at near to INR 20,100-20,200/MT ex-plant.
-- Neo Metaliks in Durgapur has kept steel grade pig iron price firm at around INR 28,500/MT ex-plant.
-- Mid sized mills export deals to Nepal reported at around USD 435-440/MT for Billet & USD 505/MT for Wire rod, CPT Raxaul/Jogbani border.
-- Nepal's semi finish steel imports stood 120,487 MT, observed a rise by 66.8% M-o-M in Dec'19.
-- Billet deals learned at INR 30,600-30,700/MT FoR Raipur from Raigarh based manufacturers.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,000-19,200/MT ex-Bellary & around 7,000 MT deals reported in nearby market.
-- BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 19,700/MT & INR 20,200/MT ex-plant, Karnataka; an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 20,500/MT & Billet at INR 32,300/MT ex-plant.
Rebar (12 mm)
-- North region Muzzaffarnagar based Sarvottam Rolling Mills Pvt. Ltd.(Paras TMT) is current offering at INR 35,000/MT.
-- Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 36,200/MT.
-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offer at INR 36,500/MT.
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offer INR 36,500/MT.
-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is offering at INR 38,600/MT.
-- Chennai based ARS Steel (Trusteel - 550D) is offering around INR 37,000/MT.
Wire Rod
-- Trade discount in Raipur wire rod drop by INR 200/MT to INR 1,100-1,300/MT, although base prices remain firm at INR 35,400/MT ex-plant. However in Durgapur trade reference prices up sharply by INR 400/MT to INR 34,800-35,200/MT ex-plant.
Reference prices as on 7th January 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,800 | 23,700 | 23,900 | + 300 | 23,500 | 21,900 |
| Ex-Mumbai | HMS(80:20) | 22,900 | 22,800 | 23,100 | + 100 | 22,700 | 21,400 | |
| Ex-Chennai | HMS(80:20) | 23,600 | 23,400 | 23,800 | 0 | 22,800 | 21,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,400 | 20,300 | 20,500 | + 300 | 20,150 | 17,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | + 100 | 19,400 | 16,550 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 100 | 20,100 | 17,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,500 | 0 | 19,200 | 16,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | + 300 | 19,200 | 16,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | + 100 | 19,200 | 16,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,400 | 0 | 19,100 | 16,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,600 | 17,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,850 | 32,800 | 32,900 | + 550 | 32,300 | 28,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,100 | 30,000 | 30,200 | + 300 | 29,700 | 26,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,300 | 29,200 | 29,400 | + 100 | 28,700 | 25,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,100 | 30,000 | 30,200 | + 350 | 29,300 | 25,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | + 400 | 31,900 | 27,800 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 33,200 | 33,100 | 33,300 | + 450 | 32,850 | 29,000 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | + 400 | 30,000 | 26,800 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 29,800 | 29,700 | 29,900 | + 100 | 29,100 | 25,750 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 30,600 | 30,500 | 30,700 | + 350 | 29,750 | 26,100 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 32,600 | 32,500 | 32,700 | + 500 | 32,700 | 28,750 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 32,400 | 32,300 | 32,500 | + 300 | 32,200 | 28,050 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 32,700 | 32,500 | 32,800 | 0 | 31,800 | 28,650 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | + 500 | 31,000 | 27,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,600 | 35,400 | 35,700 | + 200 | 35,300 | 32,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,500 | 34,900 | + 400 | 34,000 | 30,900 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 34,200 | 34,100 | 34,300 | + 300 | 33,600 | 29,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,500 | 34,400 | 34,600 | + 500 | 32,800 | 29,400 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,300 | 0 | 35,900 | 31,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | + 200 | 35,500 | 31,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,900 | 36,200 | - 100 | 35,000 | 32,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,600 | 34,800 | 0 | 34,700 | 31,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 34,900 | 34,800 | 35,200 | + 400 | 34,300 | 30,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 34,600 | 34,300 | 35,400 | + 200 | 33,800 | 29,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
