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Indian Steel Market Update- 14 May'20

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BigMint Bureau
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14 May 2020, 18:37 IST
Indian Steel Market Update- 14 May'20

Indian spot steel trades improved gradually and the prices rise by INR 200-1,000/MT day on day in major markets.

As per daily assessment, the Rebar prices surge by INR 100-600/MT, Billet by INR 400-1,000/MT & Sponge iron by INR 100-400/MT in major markets of central, east, north & western India.

SteelMint's price assessment for induction furnaces billet in Indian market stood at INR 26,300-30,100/MT (USD 347-398) EXW.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,500-16,800/MT (USD 205-222); prices are EXW & excluding GST.

Rupee & BSE Sensex

-- On 14th May 2020 (Thursday) INR to USD exchange rate stood at INR 75.61.

-- ICEX (Indian Commodity Exchange Ltd) May'20 contract for STEELLONG today open at INR 29,550/MT & last traded (IST 18:17 hrs) at INR 30,450/MT.

-- BSE Sensex closed at 31,122(-885) on Thursday, as against last day (Wednesday) at 32,008(+637).

-- NSE Nifty50 index was closed today at 9,142(-240) & Nifty Metal at 1,715(-45).

Raw Material

-- Tata Bhushan Steel has recorded iron ore sourcing at 207,910 MT in Apr'20, down 45% against 387,175 MT in Mar'20.

-- KIOCL has invited a tender for supply of 60,000 MT Iron ore fines for use in pellet plant. Tender opening due date on 03 Jun'20 at 14:00 Hrs

Semi Finished

-- Induction grade billet export offers up by USD 5/MT to USD 350/MT ex-mill at Durgapur, equivalent to USD 380/MT CPT Nepal.

-- SAIL's Bhilai Steel Plant (BSP) in central India is offering 16,000-18,000 MT pig iron at INR 22,700-22,800/MT EXW. Trade discount being offered of INR 100-300/MT on bulk bookings.

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

-- Rashmi Metaliks has increased sponge P-DRI price by INR 400/MT to INR 15,800/MT FoR Durgapur, sources reported.

-- Sponge P-DRI offers in Raipur increased to INR 15,400-600/MT EXW, however limited deals reported as buyers under wait & watch mode to book the material.

-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 15,400-15,500/MT ex-plant & excluding GST.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,200-16,300/MT ex-Bellary & around 2,000 MT deals reported in nearby region.

Rebar (12 mm)

-- North Region Rathi Stelmax Steel is offering at INR 35,200/MT EXW.

-- Raipur, Real Ispat GK TMT has offers at INR 35,000/MT EXW (up by INR 300/MT).

-- Raigarh Scan Group branding (Shrishti TMT) is offering at INR 33,200/MT EXW.

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

-- Jalna, SRJ Peety Steels Pvt. Ltd (Shree Om) is current offering at INR 36,800/MT EXW.

-- Gujarat, Diamond TMT & Procon Pvt. Ltd is offering at INR 34,900/MT FoR.

Wire Rod & Pipe

-- Trade discounts in Raipur Wire rod assessed at INR 200-400/MT and trade reference price up by INR 1,100/MT to INR 30,100-400/MT ex-Raipur & by INR 300/MT to INR 30,800-31,000/MT ex-Durgapur.

-- ERW Pipe manufacturers have increased offers by INR 500-800/MT to INR 33,800-33,900/MT ex-Raipur, INR 36,100/MT ex-Mandi Gobindgarh & INR 33,500/MT ex-Rourkela.

Reference prices as on 14th May'20

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22,000 21,900 22,100 + 200 22,600 22,900
Ex-Chennai HMS(80:20) 20,900 20,700 21,100 0 21,800 21,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 16,800 16,700 16,900 + 400 17,100 17,450
Ex-Rourkela Mix, FeM 80%, +/-1 15,500 15,400 15,500 + 300 15,600 16,600
Ex-Raipur Mix, FeM 80%, +/-1 16,200 16,100 16,300 + 300 16,600 17,700
Ex-Bellary Lumps, FeM 80%, +/-1 16,200 16,100 16,300 + 100 16,400 16,500
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 15,800 15,700 15,900 + 400 16,100 16,550
Ex-Raipur Lumps, FeM 80%, +/-1 15,300 15,200 15,400 + 400 15,600 16,900
Ex-Bellary Lumps, FeM 80%, +/-1 16,300 16,200 16,400 + 100 16,300 16,100
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,800 16,700 16,900 + 100 16,900 16,800
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 30,050 30,000 30,100 + 700 NA 29,650
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,300 26,200 26,400 + 400 26,500 26,150
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,800 25,700 25,900 + 500 25,900 25,750
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,100 26,000 26,200 + 500 26,500 26,150
Billet Ex-Mandi Gobindgarh 100x100mm, IS 2831 30,100 30,000 30,200 + 700 NA 29,800
Ex-Durgapur 100x100mm, IS 2831 26,800 26,700 26,900 + 400 27,100 26,600
Ex-Rourkela 100x100mm, IS 2831 26,300 26,200 26,400 + 500 26,400 26,100
Ex-Raipur 100x100mm, IS 2831 26,700 26,600 26,800 + 600 27,000 26,500
Ex-Ahmedabad 100x100mm, IS 2831 29,000 28,900 29,100 + 600 NA 28,400
Ex-Chennai 100x100mm, IS 2831 30,000 29,900 30,200 - 200 NA 30,000
Ex-Hyderabad 100x100mm, IS 2831 28,500 28,400 28,600 + 1,000 29,500 28,000
TMT Ex-Durgapur 12-25mm, Induction Grade, IS 1786- 500 Fe 32,200 32,000 32,400 + 500 32,000 30,600
Ex-Rourkela 12-25mm, Induction Grade, IS 1786- 500 Fe 32,400 32,300 32,500 + 100 32,500 30,900
Ex-Raipur 12-25mm, Induction Grade, IS 1786- 500 Fe 33,100 33,000 33,200 + 600 32,800 30,900
Ex-Ahmedabad 12-25mm, Induction Grade, IS 1786- 500 Fe 34,900 34,700 35,100 0 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 35,000 32,500
Wire Rod Ex-Durgapur 5.5 mm, Wire Rod, Induction grade 31,000 30,800 31,300 + 300 31,200 29,700
Ex-Raipur 5.5 mm, Wire Rod, Induction grade 30,400 30,100 30,600 + 1,100 30,600 29,300

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

 

14 May 2020, 18:37 IST

 

 

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