Daily Update: Indian Steel Market 8 Jan'20
...
Spot steel trades improved in Indian market, following which prices increased on day trade activities by INR 200-800/MT through the mid sized mills.
The billet prices rise majorly in Western region up to INR 800/MT (USD 11), while in remaining markets it surge by INR 100-500/MT, day on day.
In context to rebar prices rise by INR 100-800/MT & sponge iron by INR 200-600/MT, as per daily assessment made by SteelMint.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,200-33,600/MT (USD 420-468) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,700-21,400/MT (USD 274-298); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 8th January 2020 (Wednesday) INR to USD exchange rate stood at INR 71.66.
-- ICEX (Indian Commodity Exchange Ltd) Feb'20 contract for STEELLONG today open at INR 32,440/MT & last traded (IST 18:18 hrs) at INR 32,620/MT.
-- BSE Sensex closed at 40,817(-51) on Wednesday, as against last day (Tuesday) at 40,869(+192).
-- NSE Nifty50 index was closed today at 12,025(-27) & Nifty Metal at 2,767(-18).
Raw Material
-- NMDC has increased floor prices by around INR 200/MT in both lumps and fines (depending on grades) for Karnataka e-auctions to be held today (08th Jan'20).
-- KIOCL has concluded two pellet export deals for 50,000 MT each for Jan 2020 loading. One vessel consisting of Fe 64% pellets(less than 2% Al) at USD 111.46/MT, FoB & another of Fe 65% pellets (less than 1% Al) at around USD 113-114/MT, FoB India- sources.
-- A major USA (west coast) based scrap recycler sold a bulk vessel of 32,000/MT of mixed cargo to a Gujarat based steel manufacturer, comprising of HMS 1&2 (80:20) at USD 335/MT, Shredded scrap at USD 340/MT and bonus (P&S) grade at USD 345/MT CFR Kandla.
-- Melting scrap offers in Western India- Gujarat incline by INR 600/MT in a day trade activities.
Semi Finished
-- Indian mid scale mills export offers to Nepal increases by USD 5-10/MT day-on-day and stands at USD 420-425/MT for Billet & USD 485/MT for Wire rod, ex-mill at Durgapur.
-- Jindal Steel is offering steel grade pig iron at around INR 31,000/MT ex-plant, Raigarh.
-- Officials from a integrated plant in Jharkhand, Bokaro reported strong demand for steel grade pig iron at around INR 28,500/MT ex-plant. However they hold sales on assumption of further surge in price range in coming days.
-- Neo Metaliks in Durgapur has kept steel grade pig iron prices firm & deals reported at around INR 28,500/MT ex-plant.
-- Odisha based manufacturer, Ganesh Metaliks sold around 2500 MT Billet in Uttar Pradesh market at INR 30,200/MT ex-plant, an official reported.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,300-19,400/MT ex-Bellary, an official reported.
-- BIOP Steels in South India has kept offers unaltered; 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 20,800/MT & Billet at INR 32,700/MT ex-plant.
Rebar (12 mm)
-- North region Muzzaffarnagar based Swarup Rolling Mills Limited (Swarup TMT) is current offering at INR 35,500/MT.
-- Raipur based Real Ispat (GK TMT) is offering at INR 36,700/MT (up by INR 500/MT).
-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 35,000/MT.
-- Bajrangbali Steel Industries Pvt Ltd based in Odisha is offering rebar at INR 34,800-34,900/MT.
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 36,700/MT (up by INR 200/MT).
-- Jalna based Gajkesari Steels and Alloys Pvt. Ltd. (Gajkesari TMT) is current offering at INR 36,400/MT.
-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is offering at INR 38,800/MT (up by INR 300/MT).
Wire Rod & Pipe
-- Trade discount in Raipur wire rod steady at INR 800-1,000/MT, however base price up by INR 300/MT to INR 35,700/MT & in Durgapur by INR 400/MT to INR 35,000-35,500/MT ex-Durgapur.
-- ERW Pipe Manufacturers have increased offers by INR 500-700/MT to INR 35,800/MT ex-Raipur, INR 37,600/MT ex-Mandi Gobindgarh & INR 35,500/MT ex-Rourkela.
Reference prices as on 8th January 2020
Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
Scrap | Ex-Alang | HMS(80:20) | 24,400 | 24,300 | 24,500 | + 600 | 23,800 | 21,900 |
Ex-Mumbai | HMS(80:20) | 23,100 | 22,900 | 23,200 | + 200 | 22,700 | 21,300 | |
Ex-Chennai | HMS(80:20) | 23,800 | 23,600 | 24,000 | + 200 | 22,900 | 21,400 | |
C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,700 | 20,600 | 20,800 | + 300 | 20,200 | 17,700 |
Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 300 | 19,400 | 16,500 | |
Ex-Raipur | Mix, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | + 600 | 20,200 | 17,400 | |
Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | + 200 | 19,300 | 16,800 | |
P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,800 | 19,700 | 19,900 | + 300 | 19,250 | 16,700 |
Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | + 500 | 19,300 | 16,600 | |
Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,400 | 0 | 19,200 | 16,700 | |
Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 19,700 | 17,200 | |
Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | + 250 | 32,300 | 28,600 |
Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,400 | + 200 | 29,800 | 26,500 | |
Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,700 | 29,600 | 29,800 | + 400 | 28,800 | 25,300 | |
Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,600 | 30,500 | 30,700 | + 500 | 29,500 | 25,800 | |
Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | + 300 | 32,000 | 27,700 | |
Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 33,550 | 33,500 | 33,600 | + 350 | 32,900 | 28,900 |
Ex-Durgapur | 100x100 mm, IS 2831 | 30,800 | 30,700 | 30,900 | + 300 | 30,100 | 26,800 | |
Ex-Rourkela | 100x100 mm, IS 2831 | 30,250 | 30,200 | 30,300 | + 450 | 29,300 | 25,600 | |
Ex-Raipur | 100x100 mm, IS 2831 | 31,100 | 31,000 | 31,200 | + 500 | 30,000 | 26,150 | |
Ex-Ahmedabad | 100x100 mm, IS 2831 | 33,400 | 33,300 | 33,500 | + 800 | 32,700 | 28,700 | |
Ex-Mumbai | 100x100 mm, IS 2831 | 32,800 | 32,700 | 32,900 | + 400 | 32,300 | 27,900 | |
Ex-Chennai | 100x100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | - 200 | 31,900 | 28,700 | |
Ex-Hyderabad | 100x100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | 0 | 31,000 | 27,500 | |
TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,300 | 36,700 | + 800 | 35,600 | 31,800 |
Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,100 | 34,900 | 35,300 | + 400 | 34,500 | 30,900 | |
Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 34,700 | 34,500 | 34,800 | + 500 | 33,600 | 29,700 | |
Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,500 | 34,300 | 34,600 | 0 | 33,300 | 29,400 | |
Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | + 500 | 36,200 | 31,000 | |
Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,100 | 36,500 | + 300 | 35,500 | 31,600 | |
Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,900 | 36,200 | 0 | 35,000 | 32,100 | |
Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,100 | 35,000 | 35,200 | + 400 | 34,700 | 31,000 | |
Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 35,200 | 35,000 | 35,500 | + 300 | 34,600 | 30,700 |
Ex-Raipur | Wire Rod(5.5 MM) | 34,900 | 34,700 | 35,700 | + 300 | 34,200 | 29,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research