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Indian Steel Market Update- 09 May'20

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Semi Finished

BigMint Bureau

818 Reads

9 May 2020, 17:32 IST

Indian spot steel prices fell further following limited inquiries in finished steel products, hence prices of mid-size mills corrected by INR 100-400/MT on D-o-D basis.

SteelMint's price assessment for induction furnaces billet in Indian market stood at INR 25,900-29,700/MT (USD 343-393) ex-plant.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,400-16,800/MT (USD 203-222); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 9th May 2020 (Saturday) INR to USD exchange rate stood at INR 75.47.

Raw Material

-- NMDC Ltd- India's biggest iron ore producer has sharply reduced iron ore prices in Chhattisgarh, Baila fines and lump have been reduced by INR 400/MT and DR CLO by INR 470/MT.

-- BMM Ispat located in Bellary, Karnataka sold around 5,000 MT pellets in nearby market at INR 6,200/MT ex-plant, as per officials.

Semi Finished

-- SAIL has floated an export tender for 30,000 MT Mild Steel Concast Slab from its Bokaro Steel Plant. Offer must be valid upto 16 May'20

-- Neo Metaliks in Durgapur has roll-over steel grade pig iron offers at INR 23,500/MT EXW, sources.

-- Major sponge manufacturers in Raipur have maintained sponge P-DRI offers firm at INR 15,700/MT, however no major deals as buyers willing to book at below to INR 15,500/MT; ex-plant.

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

-- Furnaces in Raipur reported steel grade pig iron offers at INR 23,200-300/MT FoR, through the traders.

-- Bhaskar Steel and Ferro Alloy Ltd is offering Billet at INR 26,200-26300/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,200-16,300/MT ex-Bellary.

Rebar (12 mm)

-- Raipur based Real Ispat has kept its offer firm, GK TMT at INR 35,300/MT EXW.

-- Scan Group branding (Shrishti TMT) offers are at INR 32,200/MT EXW (down by INR 100/MT).

-- Bajrangbali Steel Industries Pvt Ltd in Odisha is offering Rebar at INR 32,200/MT EXW.

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

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod is hovering at INR 400-600/MT and trade reference price drop by INR 500-600/MT to INR 29,900-30,100/MT ex-Raipur & by INR 300/MT to INR 31,000-31,300/MT ex-Durgapur.

-- ERW Pipe manufacturers have kept offers unaltered to INR 33,200/MT ex-Raipur, INR 36,000/MT ex-Mandi Gobindgarh & INR 33,400-33,500/MT ex-Rourkela.

Reference prices as on 9th May'20

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	16,800	16,700	16,900	- 200	17,300	17,300
	Ex-Rourkela	Mix, FeM 80%, +/-1	15,400	15,300	15,500	- 100	16,400	16,500
	Ex-Raipur	Mix, FeM 80%, +/-1	16,500	16,400	16,600	- 100	17,600	17,600
	Ex-Bellary	Lumps, FeM 80%, +/-1	16,300	16,200	16,400	- 100	16,450	16,500
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	15,800	15,700	15,900	- 200	16,400	16,400
	Ex-Raipur	Lumps, FeM 80%, +/-1	15,500	15,400	15,600	- 100	16,750	16,700
	Ex-Bellary	Lumps, FeM 80%, +/-1	16,200	16,100	16,300	- 100	16,100	16,100
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	17,000	16,900	17,100	0	16,800	17,000
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	29,450	29,400	29,500	- 200	29,650	29,800
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	26,300	26,200	26,400	- 200	26,150	26,400
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	25,600	25,500	25,700	0	25,750	26,000
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	25,850	25,800	25,900	- 150	26,000	26,250
Billet	Ex-Mandi Gobindgarh	100x100mm, IS 2831	29,700	29,600	29,800	- 100	29,800	30,000
	Ex-Durgapur	100x100mm, IS 2831	26,800	26,700	26,900	- 200	26,600	26,800
	Ex-Rourkela	100x100mm, IS 2831	26,200	26,100	26,300	0	26,100	26,200
	Ex-Raipur	100x100mm, IS 2831	26,550	26,500	26,600	- 150	26,400	26,650
	Ex-Jalna	100x100mm, IS 2831	29,700	29,500	29,700	0	28,300	28,300
	Ex-Hyderabad	100x100mm, IS 2831	28,700	28,500	29,000	- 300	28,000	28,000
TMT	Ex-Durgapur	12-25mm, Induction Grade, IS 1786- 500 Fe	32,000	31,800	32,200	0	30,300	30,600
	Ex-Rourkela	12-25mm, Induction Grade, IS 1786- 500 Fe	32,200	32,000	32,400	- 200	31,600	30,900
	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-Chennai	12-25mm, Induction Grade, IS 1786- 500 Fe	36,000	35,900	36,300	+ 200	NA	34,700
	Ex-Hyderabad	12-25mm, Induction Grade, IS 1786- 500 Fe	34,700	34,500	35,000	- 300	34,000	32,500
Wire Rod	Ex-Durgapur	5.5 mm, Wire Rod, Induction grade	31,000	30,900	31,400	- 300	29,600	29,700
Wire Rod	Ex-Raipur	5.5 mm, Wire Rod, Induction grade	30,000	29,900	31,000	- 600	29,100	29,300