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Indian Steel Market Trade Log: 09 Mar'20

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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
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	31,900	31,600	32,200	0	32,200	32,700