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Daily Update: Indian Steel Market 7 Nov'19

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BigMint Bureau
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7 Nov 2019, 18:18 IST
Daily Update: Indian Steel Market 7 Nov'19

Indian Steel prices slightly change by INR 100-200/MT today on average demand in major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,800-29,300/MT (USD 363-413) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-18,000/MT (USD 232-254); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 7th November 2019 (Thursday) INR to USD exchange rate stood at INR 70.93.

-- ICEX (Indian Commodity Exchange Ltd) Dec'19 contract for STEELLONG today open at INR 28,480/MT & last traded (IST 18:04 hrs) at INR 28,460/MT.

-- BSE Sensex closed at 40,653(+183) on Thursday, as against last day (Wednesday) at 40,469(+221).

-- NSE Nifty50 index was closed today at 12,016(+50) & Nifty Metal at 2,662(+28).

Key Trades

-- Mid sized mills export offers to Nepal is hovering at USD 395-400/MT for Billet & USD 450/MT for Wire rod, CPT Raxaul border.

-- Vizag steel has recently concluded 30,000 MT bloom export tender for size 150*150 mm at around USD 370-375/MT, FoB India-sources.

-- Private producers in eastern India have maintained pig iron prices firm and reported steel grade at INR 23,200/MT ex-Jajpur, Odisha by Mesco Steels & INR 24,200/MT ex-Durgapur by Neo Metaliks.

-- As per market sources, Electrosteels Ltd based in Bokaro, Jharkhand has raised Finished steel prices by INR 1,000/MT (USD 15) for Nov'19 deliveries.

-- Rashmi Metaliks in Durgapur has kept Sponge P-DRI prices firm at INR 17,000/MT, as per sources.

-- Raipur based Sponge P-DRI producers have rolled-over offers amid average deals at around INR 16,400/MT ex-plant.

-- Odisha based sponge manufacturer sold FeM 80 C-DRI lumps to Jalna (Maharashtra) at INR 19,000/MT FoR Jalna.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,800/MT & INR 17,200/MT ex-plant, Karnataka

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,400-16,500/MT ex-Bellary, an official reported.

-- ERW Pipe Manufacturers have kept their offers at firm level, however trades remain limited in a day trade activities. Offers reported at INR 30,700-30,800/MT ex-Raipur, INR 33,500-33,600/MT ex-Mandi Gobindgarh & INR 30,600-30,800/MT ex-Rourkela.

-- Trade discounts in Raipur wire rod up by INR 100-200/MT to around INR 1,300-1,400/MT through the traders & INR 800-900/MT by manufacturers. However base prices steady at INR 31,600/MT ex-plant. Also in Durgapur trade reference prices drop by INR 100/MT to INR 30,700-31,500/MT ex-plant.

Reference prices as on 7th November 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22,200 22,100 22,300 + 100 21,800 21,500
Ex-Mumbai HMS(80:20) 21,700 21,600 21,800 + 200 21,200 20,300
Ex-Chennai HMS(80:20) 20,000 19,800 20,200 + 100 19,600 19,000
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,950 17,900 18,000 - 50 17,300 16,500
Ex-Rourkela Mix, FeM 80%, +/-1 16,500 16,400 16,600 0 16,100 16,000
Ex-Raipur Mix, FeM 80%, +/-1 17,400 17,300 17,500 0 16,700 16,700
Ex-Bellary Lumps, FeM 80%, +/-1 16,700 16,600 16,800 0 16,300 16,200
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,900 16,800 17,000 - 100 16,200 15,300
Ex-Raipur Lumps, FeM 80%, +/-1 16,400 16,300 16,500 0 15,750 15,450
Ex-Bellary Lumps, FeM 80%, +/-1 16,400 16,300 16,500 - 100 16,000 15,700
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,800 16,700 16,900 0 16,400 16,200
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 28,950 28,900 29,000 + 50 28,650 28,100
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,700 26,600 26,800 0 26,200 25,750
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,600 25,500 25,700 - 100 25,350 25,150
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,150 26,100 26,200 0 25,800 25,500
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 28,200 28,100 28,200 - 50 28,100 27,000
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,300 29,200 29,400 + 200 28,900 28,200
Ex-Durgapur 100x100 mm, IS 2831 27,050 27,000 27,100 + 50 26,500 26,000
Ex-Rourkela 100x100 mm, IS 2831 25,850 25,800 25,900 - 150 25,700 25,450
Ex-Raipur 100x100 mm, IS 2831 26,500 26,400 26,600 - 50 26,300 25,850
Ex-Ahmedabad 100x100 mm, IS 2831 28,600 28,500 28,700 - 100 28,650 27,650
Ex-Mumbai 100x100 mm, IS 2831 28,400 28,300 28,500 - 100 28,350 27,300
Ex-Chennai 100x100 mm, IS 2831 27,300 27,200 27,400 - 100 27,200 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 33,200 33,000 33,400 - 100 32,300 31,700
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 31,100 30,900 31,300 - 100 30,400 29,600
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 30,500 30,400 30,600 - 200 30,400 30,700
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 30,100 30,000 30,200 0 29,800 29,700
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31,900 31,700 32,000 - 100 31,200 30,400
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 31,800 31,600 32,000 0 31,700 30,300
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 31,000 30,800 31,100 0 30,900 31,400
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 31,000 30,800 31,100 - 100 30,000 29,900
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 30,800 30,700 31,500 - 100 29,900 29,500
Ex-Raipur Wire Rod(5.5 MM) 30,800 30,300 31,600 - 100 30,500 29,700

Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research

7 Nov 2019, 18:18 IST

 

 

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