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Indian Steel Market Trade Log: 09 Mar'20

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BigMint Bureau
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9 Mar 2020, 16:50 IST
Indian Steel Market Trade Log: 09 Mar'20

Steel trades in Indian market remained were limited today ahead of festive celebrations of 'Holi'. However few deals were reported on higher price range due to logistic concerns, delivery terms.

Raipur (central India) based furnaces reported less availability of sponge iron for immediate deliveries. Hence following this, few manufacturers have raised their offers to take advantage of situations.

Meanwhile in Durgapur (eastern India) market is almost closed today with beginning of festive celebrations.

Further trade activities in Odisha remained silent as the market known as merchant supplier of semis products to outside state, however due to logistic issue on festive mood, the trade inquiries are reported to be mute for the day.

In Maharashtra (western India), average finished steel demand has kept prices steady today for semis & finished steel products.

Coming to Gujarat, rising melting scrap prices from last 2-3 days have resulted hike in billet price by INR 400-500/MT day-on-day basis where buyers & sellers maintained sufficient gap to reach trade. But, rebar prices have slightly improved over limited trade inquiries along with measured participants.

Whereas in northern India - Mandi & Ludhiana, limited buyers & sellers were seen in the market and thus the billet & rebar prices were relatively unchanged today.

In context to southern India, Hyderabad billet & rebar prices plunged by INR 500/MT on fresh deals owing to increase in inventories among re-rollers and furnaces. Marginal fall of INR 100-200/MT was seen in Chennai billet price and rebar prices exhibited stability.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 28,000-31,500/MT (USD 378-425) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 17,900-19,300/MT (USD 241-261); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 9th March 2020 (Monday) INR to USD exchange rate stood at INR 74.07.

-- ICEX (Indian Commodity Exchange Ltd) Apr'20 contract for STEELLONG today open at INR 30,980/MT & last traded (IST 16:56 hrs) at INR 30,980/MT.

-- BSE Sensex closed at 35,634(-1,941) on Monday, as against last day (Friday) at 37,576(-893).

-- NSE Nifty50 index was closed today at 10,451(-538) & Nifty Metal at 2,015(-168).

Key Trades

-- Raipur based Real Ispat (GK TMT) has unchanged their offer at INR 35,100/MT.

-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 32,800/MT.

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offer at INR 36,500/MT.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 36,300/MT (down by INR 200/MT).

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,800/MT ex-Bellary.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 18,000/MT & INR 18,300/MT ex-plant, Karnataka & no major deals reported.

-- Chennai based Ponneri Steel Ind. (Triple Power) is current offering at INR 35,300/MT.

-- ERW Pipe Manufacturers have kept offers at firm level to INR 33,200/MT ex-Raipur, INR 36,000/MT ex-Mandi Gobindgarh & INR 33,300-33,500/MT ex-Rourkela.

Reference prices as on 9th March 2020

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 24,100 24,000 24,200 + 300 23,500 23,400
Ex-Mumbai HMS(80:20) 23,500 23,400 23,600 0 23,300 22,500
Ex-Chennai HMS(80:20) 22,200 22,100 22,400 0 22,200 22,000
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,100 19,000 19,200 0 19,400 19,800
Ex-Rourkela Mix, FeM 80%, +/-1 17,950 17,900 18,000 - 50 18,500 18,900
Ex-Raipur Mix, FeM 80%, +/-1 19,300 19,200 19,400 0 19,300 19,800
Ex-Bellary Lumps, FeM 80%, +/-1 18,000 17,900 18,000 - 100 18,200 19,000
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,100 18,000 18,200 0 18,450 18,900
Ex-Raipur Lumps, FeM 80%, +/-1 18,500 18,400 18,600 0 18,400 18,800
Ex-Bellary Lumps, FeM 80%, +/-1 17,900 17,800 18,000 0 18,000 19,000
Ex-Hyderabad Lumps, FeM 80%, +/-1 18,400 18,300 18,500 0 18,550 19,400
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 31,300 31,200 31,400 - 100 31,650 31,300
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 27,950 27,900 28,000 - 50 28,400 29,100
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 27,800 27,700 27,900 0 28,150 28,200
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 28,200 28,100 28,300 - 100 28,550 28,700
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 30,500 30,400 30,600 - 100 29,900 30,100
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 31,500 31,400 31,600 - 100 32,000 31,800
Ex-Durgapur 100x100 mm, IS 2831 28,500 28,400 28,600 0 29,000 29,600
Ex-Rourkela 100x100 mm, IS 2831 28,000 27,900 28,100 0 28,550 28,600
Ex-Raipur 100x100 mm, IS 2831 28,600 28,500 28,700 0 28,950 29,200
Ex-Ahmedabad 100x100 mm, IS 2831 30,600 30,600 30,800 + 500 30,000 30,700
Ex-Mumbai 100x100 mm, IS 2831 31,000 30,900 31,100 - 100 30,250 30,400
Ex-Chennai 100x100 mm, IS 2831 30,600 30,500 30,700 - 100 30,900 31,000
Ex-Hyderabad 100x100 mm, IS 2831 29,500 29,400 29,600 - 500 30,000 31,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 34,500 34,200 34,600 0 35,200 35,600
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 32,500 32,300 32,700 0 33,000 33,700
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 32,600 32,500 32,700 0 33,000 33,500
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 32,600 32,500 32,700 0 32,800 33,100
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 36,100 35,900 36,300 - 100 35,800 35,300
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 35,300 35,100 35,500 0 34,900 34,700
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 34,900 34,700 35,100 - 100 35,100 35,500
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 34,000 33,900 34,100 - 500 34,500 34,700
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 31,900 31,800 32,200 + 100 32,400 33,200
Ex-Raipur Wire Rod(5.5 MM) 31,900 31,600 32,200 0 32,200 32,700

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

9 Mar 2020, 16:50 IST

 

 

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