Daily Update: Indian Steel Market 9 Dec'19
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Indian Semi finished prices drop further on account of limited spot trades and rising stock with the mid sized mills. On daily assessment, Billet prices fall by INR 100-300/MT & Sponge iron by INR 100-200/MT.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,600-29,000/MT (USD 360-408) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,800/MT (USD 232-251); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 9th December 2019 (Monday) INR to USD exchange rate stood at INR 71.06.
-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 29,180/MT & last traded (IST 18:29 hrs) at INR 29,050/MT.
-- BSE Sensex closed at 40,487(+42) on Monday, as against last day (Friday) at 40,445(-334).
-- NSE Nifty50 index was closed today at 11,936(+15) & Nifty Metal at 2,549(+13).
Raw Material
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 137.75/MT FoB Australia & USD 152.95/MT CNF India.
-- South African RB2 (5500 NAR) coal offers are assessed at USD 66.78/MT on FoB basis & USD 79.57/MT CNF India
Semi Finished
-- Indian mid sized mills export offers to Nepal remained firm and assessed at around USD 395/MT for Billet, CPT Raxaul border, Nepal.
-- Rashmi Metaliks in Durgapur has slightly lower sponge P-DRI price by INR 100/MT to INR 16,900/MT, as per sources.
-- Neo Metaliks in Durgapur has slightly lower steel grade pig iron price and deals reported at INR 23,700-23,800/MT ex-plant.
-- Raipur based sponge manufacturers have slightly lower sponge P-DRI price by INR 100/MT to INR 16,500-16,600/MT ex-plant. However demand remained weak despite drop in price range, as stated by participants.
-- Raigarh based Singhal Steel offered billet at INR 26,000-26,100/MT FoR Raipur, officials reported.
-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix materials) at around INR 16,500/MT ex-plant & excluding GST. And few officials reported trade remains limited.
-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,900/MT & INR 17,300/MT ex-plant, Karnataka.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,800-16,900/MT ex-Bellary, an official reported. However, limited deals learned, as per trade sources.
Rebar (12 mm)
-- Rathi Steels based in North region is offering at INR 33,100/MT (up by INR 300/MT).
-- Raipur based Real Ispat (GK TMT) is current offering at INR 31,800/MT.
-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offer at INR 31,500/MT.
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 31,300/MT.
-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) is current offeing at INR 32,500/MT FoR.
-- Chennai based Ponneri Steel Ind. (Triple Power) is current offering at INR 32,500/MT.
Wire Rod & Pipe
-- Trade discounts in Raipur wire rod unchanged at INR 1,500-1,700/MT through the traders, however base prices drop by INR 200/MT to INR 31,000/MT (ex-plant) by mills. Meanwhile in Durgapur trade reference prices remain firm at INR 30,700-31,200/MT ex-plant.
-- In Mandi Gobindgarh Odisha, North India- ERW pipe prices decreased by INR 200/MT to INR 33,800/MT ex-plant. However in Central & East India the prices kept firm at INR 30,600/MT ex-Raipur & INR 30,500/MT ex-Rourkela; excluding GST.
Reference prices as on 9th December 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,900 | 21,800 | 22,000 | 0 | 22,000 | 22,400 |
| Ex-Mumbai | HMS(80:20) | 21,400 | 21,300 | 21,500 | + 100 | 21,200 | 21,900 | |
| Ex-Chennai | HMS(80:20) | 21,200 | 21,100 | 21,500 | + 200 | 20,700 | 20,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,800 | 17,700 | 17,900 | - 200 | 18,100 | 18,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,700 | 16,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,400 | 17,300 | 17,500 | 0 | 17,700 | 17,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | 0 | 16,800 | 16,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,800 | 16,700 | 16,900 | - 200 | 17,100 | 17,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | 0 | 16,700 | 16,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 16,700 | 16,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,200 | 17,100 | 17,300 | - 50 | 17,200 | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,600 | 28,500 | 28,700 | - 300 | 29,100 | 29,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,600 | 26,500 | 26,700 | - 100 | 26,850 | 27,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,200 | 25,100 | 25,300 | - 100 | 25,500 | 26,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 25,750 | 25,700 | 25,800 | - 100 | 26,050 | 26,500 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,900 | 27,800 | 28,000 | + 200 | 27,900 | 28,050 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 28,950 | 28,900 | 29,000 | - 250 | 29,500 | 29,750 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 26,800 | 26,700 | 26,900 | - 150 | 27,100 | 27,300 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 25,600 | 25,500 | 25,700 | - 100 | 25,850 | 26,250 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 26,000 | 25,900 | 26,100 | - 100 | 26,300 | 26,850 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 28,600 | 28,500 | 28,700 | - 200 | 28,800 | 28,650 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 28,150 | 28,100 | 28,200 | + 150 | 28,200 | 28,250 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 28,700 | 28,600 | 28,700 | 0 | 28,300 | 27,900 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 27,500 | 27,400 | 27,600 | 0 | 28,000 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,700 | 32,100 | + 300 | 32,100 | 33,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 30,900 | 30,700 | 31,100 | 0 | 31,200 | 31,400 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 29,700 | 29,600 | 29,800 | 0 | 30,000 | 30,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 29,400 | 29,300 | 29,500 | 0 | 29,600 | 30,200 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,200 | 0 | 31,200 | 31,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,800 | 31,600 | 31,900 | 0 | 31,600 | 31,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 31,900 | 31,800 | 32,200 | - 100 | 32,000 | 31,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 31,000 | 30,900 | 31,100 | 0 | 31,500 | 31,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 30,800 | 30,700 | 31,200 | 0 | 31,000 | 31,400 |
| Ex-Raipur | Wire Rod(5.5 MM) | 29,800 | 29,400 | 31,000 | - 200 | 30,500 | 30,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
