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Indian Steel Market Update- 08 May'20

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Semi Finished
By
BigMint Bureau
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8 May 2020, 18:33 IST
Indian Steel Market Update- 08 May'20

Spot steel prices fall by INR 100-600/MT due to limited inquiries with the mid sized mills. On daily assessment, the Billet prices declined by INR 100-600/MT, Rebar by INR 100-400/MT & Sponge iron by INR 100/MT.

SteelMint's price assessment for induction furnaces billet in Indian market stood at INR 26,000-29,700/MT (USD 353-408) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,500-17,000/MT (USD 223-245); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 8th May 2020 (Friday) INR to USD exchange rate stood at INR 75.57.

-- ICEX (Indian Commodity Exchange Ltd) May'20 contract for STEELLONG today open at INR 29,700/MT & last traded (IST 17:31 hrs) at INR 29,370/MT.

-- BSE Sensex closed at 31,642(+199) on Friday, as against last day (Thursday) at 31,443(-242).

-- NSE Nifty50 index was closed today at 9,251(+52) & Nifty Metal at 1,676(-19).

Raw Material

-- TNERC (Tamil Nadu Electricity Regulatory commission) waive off minimum demand charges by 80% but Tamil Nadu Electricity board not approved yet. Manufacturers anticipate to get the same within a week and waive off % will vary by Company wise upon consumption.

-- Raipur based manufacturers have offered Silico Manganese (60-14) at INR 70,000/MT, meanwhile last deals reported at near to INR 67,000/MT; ex-plant.

Semi Finished

-- Neo Metaliks in Durgapur is offering steel grade pig iron at INR 23,500/MT ex-plant, few deals reported in local market by officials.

-- Raipur based major sponge manufacturers have kept P-DRI offers unchanged at INR 15,700/MT, however few buying inquiries reported at near to INR 15,500/MT; ex-plant.

-- Billet offers assessed at INR 26,600-700/MT ex-Raipur & INR 26,700-800/MT FoR Raipur from Raigarh.

-- Bhaskar Steel and Ferro Alloy Ltd is offering Billet at INR 26,500/MT EXW.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,200-16,300/MT ex-Bellary & around 1,000 MT deals reported in nearby markets

Rebar (12 mm)

-- Rebar prices remain unchanged by Raipur based mills and reported supply concern due to shortage of labour and traders are not willing to procure future bookings until supply movement won't get easier.

-- Raipur based Real Ispat has roll-over GK TMT offers at INR 35,300/MT EXW.

-- Mumbai based Guardian Castings Pvt. Ltd (Guardian TMT) has unchanged their offer at INR 34,300/MT EXW.

-- Scan Group branding (Shrishti TMT) offers are at INR 32,300/MT EXW (down by INR 600/MT).

-- Bajrangbali Steel Industries Pvt Ltd in Odisha is offering Rebar at INR 32,400/MT EXW.

-- Odisha based Shubhlabh TMT offers reported at INR 32,600-32,700/MT EXW

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offer at INR 37,000/MT EXW.

-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 37,000/MT EXW (up by INR 300/MT).

-- Gujarat based, Mono Steel (India) Ltd.(Mono TMT) has unchanged their offers at INR 33,400/MT FoR.

-- Giridih, JH based Saluja Steel & Power Pvt. Ltd. (Saluja Gold TMT) offering at INR 38300/MT EXW.

-- Chennai based Kamachi Industries Ltd. (KAMACHI TMT) is offering at INR 37,000/MT EXW.

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod is hovering at INR 400-600/MT and trade reference price stood at INR 30,400-600/MT ex-Raipur & INR 31,200-31,500/MT ex-Durgapur.

-- ERW Pipe Manufacturers have decreased offers by INR 300/MT to INR 33,200/MT ex-Raipur.

Reference prices as on 8th May'20

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,000 16,900 17,100 - 100 17,300 17,300
Ex-Rourkela Mix, FeM 80%, +/-1 15,500 15,500 15,700 - 100 16,400 16,500
Ex-Raipur Mix, FeM 80%, +/-1 16,600 16,500 16,700 0 17,600 17,600
Ex-Bellary Lumps, FeM 80%, +/-1 16,400 16,300 16,500 0 16,450 16,500
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,000 15,900 16,100 - 100 16,400 16,400
Ex-Raipur Lumps, FeM 80%, +/-1 15,600 15,500 15,700 0 16,750 16,700
Ex-Bellary Lumps, FeM 80%, +/-1 16,300 16,200 16,400 0 16,100 16,100
Ex-Hyderabad Lumps, FeM 80%, +/-1 17,000 16,900 17,100 + 100 16,800 17,000
Ingot Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,500 26,400 26,600 0 26,150 26,400
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,600 25,500 25,700 - 300 25,750 26,000
Ex-Raigarh 3.5 x 4.5 Inch, IS 2830 25,400 25,300 25,500 - 500 25,700 25,900
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,000 25,900 26,100 - 500 26,000 26,250
Ex-Goa 3.5 x 4.5 Inch, IS 2830 28,800 28,700 28,900 0 28,200 28,200
Billet Ex-Durgapur 100x100mm, IS 2831 27,000 26,900 27,100 - 100 26,600 26,800
Ex-Rourkela 100x100mm, IS 2831 26,200 26,100 26,300 - 200 26,100 26,200
Ex-Raigarh 100x100mm, IS 2831 26,000 25,900 26,100 - 650 26,000 26,200
Ex-Raipur 100x100mm, IS 2831 26,700 26,600 26,800 - 300 26,400 26,650
Ex-Goa 100x100mm, IS 2831 29,100 29,000 29,200 0 28,500 28,500
Ex-Jalna 100x100mm, IS 2831 29,700 29,600 29,800 0 28,300 28,300
Ex-Hyderabad 100x100mm, IS 2831 29,000 28,900 29,100 - 500 28,000 28,000
TMT Ex-Durgapur 12-25mm, Induction Grade, IS 1786- 500 Fe 32,000 31,800 32,200 0 30,200 30,600
Ex-Rourkela 12-25mm, Induction Grade, IS 1786- 500 Fe 32,400 32,300 32,500 - 100 31,300 30,900
Ex-Raigarh 12-25mm, Induction Grade, IS 1786- 500 Fe 32,100 32,000 32,400 - 400 31,300 30,500
Ex-Raipur 12-25mm, Induction Grade, IS 1786- 500 Fe 32,800 32,700 33,000 0 31,800 30,900
Ex-Ahmedabad 12-25mm, Induction Grade, IS 1786- 500 Fe 33,600 33,400 33,800 0 33,700 34,300
Ex-Goa 12-25mm, Induction Grade, IS 1786- 500 Fe 37,000 36,700 37,100 0 NA 34,100
Ex-Bangalore 12-25mm, Induction Grade, IS 1786- 500 Fe 36,100 35,900 36,300 0 NA 33,600
Ex-Chennai 12-25mm, Induction Grade, IS 1786- 500 Fe 35,800 35,600 36,000 NA NA 34,700
Ex-Hyderabad 12-25mm, Induction Grade, IS 1786- 500 Fe 35,000 34,800 35,200 0 34,200 32,500
Wire Rod Ex-Durgapur 5.5 mm, Wire Rod, Induction grade 31,300 31,200 31,500 + 100 29,600 29,700
Ex-Raipur 5.5 mm, Wire Rod, Induction grade 30,600 30,400 31,000 0 29,100 29,300

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

8 May 2020, 18:33 IST

 

 

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