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Indian Steel Market Update- 13 May'20

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BigMint Bureau
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13 May 2020, 18:54 IST
Indian Steel Market Update- 13 May'20

Spot billet & rebar prices slightly up by INR 100-300/MT in central & eastern regions, while fall of INR 200-500/MT assessed in southern India.

In context to sponge iron, prices fluctuated by INR 100-200/MT in major markets, on day trade activities.

SteelMint's price assessment for induction furnaces billet in Indian market stood at INR 25,700-29,400/MT (USD 341-391) EXW.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,200-16,400/MT (USD 201-218); prices are EXW & excluding GST.

Rupee & BSE Sensex

-- On 13th May 2020 (Wednesday) INR to USD exchange rate stood at INR 75.28.

-- ICEX (Indian Commodity Exchange Ltd) May'20 contract for STEELLONG today open at INR 29,580/MT & last traded (IST18:53 hrs) at INR 29,600/MT.

-- BSE Sensex closed at 32,008(+637) on Wednesday, as against last day (Tuesday) at 31,371(-190).

-- NSE Nifty50 index was closed today at 9,383(+187) & Nifty Metal at 1,760(+43).

Raw Material

-- SAIL auction from Bolani mines for 100,000 MT Iron ore (Fe 62.5%) receives bid for 40% of the offered quantity at INR 1,300/MT FoR, royalty & other taxes extra

Semi Finished

-- Rashmi Metaliks has reduced sponge P-DRI price by INR 100/MT to INR 15,400/MT FoR Durgapur, sources reported.

-- Sponge P-DRI offers in Raipur assessed at INR 15,000/MT, however buying interest learned at INR 14,800-900/MT ex-plant. Offers from Raigarh stood at INR 15,000/MT FoR Raipur.

-- Billet deals reported at INR 26,100-200/MT FoR Raipur from Raigarh based manufacturers.

-- Durgapur based few private pig iron manufacturers are planning to resume operations by week-end. Trades for steel grade material reported at INR 23,300-500/MT ex-plant.

-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 15,200/MT ex-plant & excluding GST.

-- Induction grade billet export offers assessed at USD 345-347/MT ex-mill at Durgapur, equivalent to USD 376-378/MT CPT Nepal.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,200-300/MT ex-Bellary & around 2,500 MT deals reported in nearby markets.

Rebar (12 mm)

-- North Region, Rathi Stelmax Steel is offering at INR 34,800/MT (up by INR 100/MT) EXW.

-- Raipur, Real Ispat GK TMT has unchanged their offer at INR 34,700/MT EXW.

-- Scan Group branding (Shrishti TMT) offers are at INR 32,600/MT EXW (Up by INR 400/MT).

-- Muzaffarnagar based Sarvottam Rolling Mill (Paras TMT) is offering at INR 32,900/MT EXW.

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

-- Jalna, Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 37,000/MT EXW.

-- Gujarat, Mono Steel India Ltd. (Mono TMT) is offering at INR 35,100/MT (up by INR 800/MT) FoR.

-- Chennai, Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is offering at INR 36,000/MT EXW.

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod assessed at INR 500-700/MT and trade reference price up by INR 100/MT to INR 29,100-29,300/MT ex-Raipur & INR 30,600-800/MT ex-Durgapur.

-- South Region based state owned mill has reduced INR 1,000/MT in Wire Rod & Rounds and currently wire rod (5.5 mm) offerings registered around INR 38,000/MT Ex yard Chennai as per trade sources.

-- ERW Pipe Manufacturers have kept offers at firm level at INR 33,000/MT ex-Raipur, INR 35,800/MT ex-Mandi Gobindgarh & INR 33,300-33,400/MT ex-Rourkela.

Reference prices as on 13th May'20

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 21,800 21,700 21,900 + 300 22,600 22,900
Ex-Chennai HMS(80:20) 20,900 20,700 21,100 - 100 21,800 21,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 16,400 16,300 16,500 - 100 17,300 17,300
Ex-Rourkela Mix, FeM 80%, +/-1 15,200 15,100 15,300 + 150 16,400 16,500
Ex-Raipur Mix, FeM 80%, +/-1 15,900 15,800 16,000 - 100 17,600 17,600
Ex-Bellary Lumps, FeM 80%, +/-1 16,100 16,000 16,200 0 16,450 16,500
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 15,400 15,300 15,500 - 50 16,400 16,400
Ex-Raipur Lumps, FeM 80%, +/-1 14,900 14,800 15,000 - 100 16,750 16,700
Ex-Bellary Lumps, FeM 80%, +/-1 16,200 16,000 16,300 0 16,100 16,100
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,700 16,600 16,800 0 16,800 17,000
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 29,350 29,300 29,400 + 50 29,650 29,800
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 25,900 25,800 26,000 0 26,150 26,400
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,300 25,200 25,400 + 100 25,750 26,000
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 25,600 25,500 25,700 + 100 26,000 26,250
Billet Ex-Mandi Gobindgarh 100x100mm, IS 2831 29,400 29,300 29,500 0 29,800 30,000
Ex-Durgapur 100x100mm, IS 2831 26,400 26,300 26,500 0 26,600 26,800
Ex-Rourkela 100x100mm, IS 2831 25,800 25,700 25,900 0 26,100 26,200
Ex-Raipur 100x100mm, IS 2831 26,100 26,000 26,200 + 100 26,400 26,650
Ex-Chennai 100x100mm, IS 2831 30,200 30,000 30,300 - 200 30,000 30,100
Ex-Hyderabad 100x100mm, IS 2831 27,500 27,400 27,600 - 500 28,000 28,000
TMT Ex-Durgapur 12-25mm, Induction Grade, IS 1786- 500 Fe 31,700 31,500 31,900 + 200 31,500 30,600
Ex-Rourkela 12-25mm, Induction Grade, IS 1786- 500 Fe 32,300 32,100 32,500 + 100 32,700 30,900
Ex-Raipur 12-25mm, Induction Grade, IS 1786- 500 Fe 32,500 32,400 32,600 0 32,800 30,900
Ex-Ahmedabad 12-25mm, Induction Grade, IS 1786- 500 Fe 34,900 34,700 35,100 + 600 33,600 34,300
Ex-Chennai 12-25mm, Induction Grade, IS 1786- 500 Fe 36,000 35,800 36,300 0 NA 34,700
Ex-Hyderabad 12-25mm, Induction Grade, IS 1786- 500 Fe 34,500 34,300 34,700 0 35,200 32,500
Wire Rod Ex-Durgapur 5.5 mm, Wire Rod, Induction grade 30,700 30,600 30,800 + 100 30,800 29,700
Ex-Raipur 5.5 mm, Wire Rod, Induction grade 29,300 29,100 29,800 + 100 30,600 29,300

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

13 May 2020, 18:54 IST

 

 

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