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Daily Update: Indian Steel Market 8 Nov'19

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BigMint Bureau
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8 Nov 2019, 18:26 IST
Daily Update: Indian Steel Market 8 Nov'19

Indian steel prices marginally changed by INR 100/MT today on average domestic trade activities.

Further, the Central India based trade participants reported that offers remained at firm level & regular bookings are active.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,900-29,300/MT (USD 363-411) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,400-18,000/MT (USD 230-252); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 8th November 2019 (Friday) INR to USD exchange rate stood at INR 71.30.

-- ICEX (Indian Commodity Exchange Ltd) Dec'19 contract for STEELLONG today open at INR 28,360/MT & last traded (IST 18:18 hrs) at INR 28,400/MT.

-- BSE Sensex closed at 40,323(-330) on Friday, as against last day (Thursday) at 40,653(+183).

-- NSE Nifty50 index was closed today at 11,908(-103) & Nifty Metal at 2,612(-46).

Raw Materials

-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at USD 260-265/MT, CFR Nhava Sheva.

-- Silicon Manganese (60-14) prices stable in Raipur & few deals learned at INR 56,000-56,500/MT ex-plant.

-- As per sources, Central India (Raigarh) based sponge manufacturer has booked about 10,000 MT pellets from local market at INR 5,400/MT ex-plant.

Semi Finished

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

-- Mescosteels in Jajpur, Odisha has slightly lowered pig iron prices & reported steel grade at INR 23,000/MT ex-plant.

-- SAIL has schedule a auction to sale of about 4,100 MT basic grade Pig iron on 11rd Nov'19 from its Rourkela Steel Plant (RSP).

-- Rashmi Metaliks in Durgapur has offered Sponge P-DRI at INR 16,900-17,000/MT, as per sources. The prices more or less firm against last day.

-- Raipur based Sponge P-DRI producers have raised P-DRI offers by INR 100/MT to INR 16,500/MT ex-plant. However there was no major inquiries as stated by participants due to low cost Raigarh P-DRI at INR 16,500/MT on FoR basis.

-- Central India, Raigarh based mill owners reported, 12 hours power cut continues by Jindal for Punjipatra region.

-- BIOP Steels in South India has offered sponge C-DRI FeM 80 & 82 C-DRI lumps at INR 16,700/MT & INR 17,100/MT ex-plant, Karnataka; an official reported. And added a deal of around 600 MT sponge C-DRI for Hyderabad.

-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 16,500/MT, ex-plant & excluding GST.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,400-16,500/MT ex-Bellary, an official reported. And added a deal of around 800 MT P-DRI concluded for Hyderabad.

Rebar (12 mm)

-- Rathi Steels based in North region is current offering at INR 34,000/MT.

-- Raipur based Real Ispat (GK TMT) has unchanged their offers at INR 32,800/MT.

-- Raigarh based Scan Group branding(Shrishti TMT) has unchanged their offer at INR 30,800/MT.

-- Jalna based Rajuri Steel Pvt. Ltd.(Rajuri TMT) has unchanged their offers at INR 32,100/MT.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 32,200/MT.

-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offers at INR 32,400/MT FoR.

Wire Rod

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

Reference prices as on 8th 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 0 22,100 21,700
Ex-Mumbai HMS(80:20) 21,700 21,600 21,800 0 21,300 20,300
Ex-Chennai HMS(80:20) 20,000 19,800 20,200 0 19,700 19,000
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,950 17,900 18,000 0 17,500 16,800
Ex-Rourkela Mix, FeM 80%, +/-1 16,450 16,400 16,500 - 50 16,300 16,150
Ex-Raipur Mix, FeM 80%, +/-1 17,400 17,300 17,500 0 17,000 16,800
Ex-Bellary Lumps, FeM 80%, +/-1 16,700 16,600 16,800 0 16,450 16,200
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,900 16,800 17,000 0 16,500 15,600
Ex-Raipur Lumps, FeM 80%, +/-1 16,500 16,400 16,600 + 100 16,000 15,700
Ex-Bellary Lumps, FeM 80%, +/-1 16,400 16,300 16,500 0 16,200 15,700
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,800 16,700 16,900 0 16,500 16,200
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 28,900 28,800 29,000 - 50 28,700 28,500
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,650 26,600 26,700 - 50 26,350 26,100
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,600 25,500 25,700 0 25,350 25,200
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,100 26,000 26,200 - 50 26,000 25,700
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 28,100 28,000 28,200 - 100 28,250 27,200
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,300 29,200 29,400 0 28,900 28,600
Ex-Durgapur 100x100 mm, IS 2831 26,950 26,900 27,000 - 100 26,650 26,400
Ex-Rourkela 100x100 mm, IS 2831 25,900 25,800 26,000 + 50 25,700 25,650
Ex-Raipur 100x100 mm, IS 2831 26,450 26,400 26,500 - 50 26,500 26,200
Ex-Ahmedabad 100x100 mm, IS 2831 28,450 28,400 28,500 - 150 28,700 27,900
Ex-Mumbai 100x100 mm, IS 2831 28,300 28,200 28,400 - 100 28,500 27,400
Ex-Chennai 100x100 mm, IS 2831 27,600 27,500 27,700 + 300 27,150 27,250
Ex-Hyderabad 100x100 mm, IS 2831 27,500 27,400 27,600 0 27,000 26,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 33,200 33,000 33,400 0 32,700 31,800
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 31,100 30,900 31,300 0 30,600 29,900
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 30,400 30,300 30,500 - 100 30,500 30,800
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 30,000 29,900 30,100 - 100 29,900 29,900
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31,900 31,700 32,000 0 31,300 30,600
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 31,800 31,600 32,000 0 31,800 30,600
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 31,100 31,000 31,300 + 100 30,800 31,400
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 31,000 30,800 31,100 0 30,500 29,900
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 30,900 30,800 31,500 + 100 30,300 29,800
Ex-Raipur Wire Rod(5.5 MM) 30,800 30,200 31,600 0 30,800 30,000

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

8 Nov 2019, 18:26 IST

 

 

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