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Daily Update: Indian Steel Market 8 Jan'20

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By
BigMint Bureau
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8 Jan 2020, 18:22 IST
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

8 Jan 2020, 18:22 IST

 

 

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