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Indian Steel Market Update- 15 May'20

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Semi Finished
By
BigMint Bureau
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15 May 2020, 18:50 IST
Indian Steel Market Update- 15 May'20

Indian spot steel trades improved as the Rebar prices surge by INR 200-500/MT, Billet by INR 200-1,100/MT & Sponge iron by INR 100-400/MT day on day in major markets.

Participants in Central & Eastern India reported that strong inquiries in Finished steel products, specifically in Rebar from the traders.

SteelMint's price assessment for induction furnaces billet in Indian market stood at INR 26,700-31,200/MT (USD 351-411) EXW.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,600-17,100/MT (USD 205-225); prices are EXW & excluding GST.

Rupee & BSE Sensex

-- On 15th May 2020 (Friday) INR to USD exchange rate stood at INR 75.91.

-- ICEX (Indian Commodity Exchange Ltd) May'20 contract for STEELLONG today open at INR 31,100/MT & last traded (IST 18:13 hrs) at INR 30,740/MT.

-- BSE Sensex closed at 31,097(-25) on Friday, as against last day (Thursday) at 31,122(-885).

-- NSE Nifty50 index was closed today at 9,136(-5) & Nifty Metal at 1,742(+27).

Raw Material

-- Gujarat based Ship Scrap Brokers Association increases trade commission to INR 75/MT against INR 40/MT and the request has been pending since from long time and supply disruption might appear if conclusion won't come in next couple of days. Alang Ship breaking scrap yards/plots also add loading charges of INR 100/MT which doesn't exists earlier.

Semi Finished

-- Induction grade billet export offers to Nepal up by USD 5/MT to USD 355/MT ex-mill at Durgapur, however no fresh deals, as per participants.

-- Neo Metaliks in Durgapur is offering steel grade pig iron at INR 23,400-500/MT EXW.

-- Jindal Steel is offering steel grade pig iron at around INR 22,500/MT EXW, Raigarh.

-- Rashmi Metaliks has increased sponge P-DRI price by INR 400/MT to INR 16,200/MT FoR Durgapur, sources reported.

-- Bangladesh based major steel mills have booked about 6,000-7,000 MT Indian sponge iron (100% lumps & 80% FeM grade) at USD 265-267/MT CFR Chittagong.

-- Sponge P-DRI offers in Raipur increased by INR 200-300/MT to INR 15,600-700/MT, however few buying inquiries reported at around INR 15,400-500/MT EXW.

-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 15,700/MT ex-plant & excluding GST.

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

Rebar (12 mm)

-- Rathi Stelmax Steel in North India is offering at INR 36,100/MT EXW.

-- Real Ispat GK TMT is offering at INR 35,700/MT EXW, Raipur.

-- Central region, Raipur based heavy structure manufacturers have maintained trade discount of INR 500-800/MT and trade reference prices at INR 34,300-34,600/MT EXW (200 Angle).

-- Anjani Steels Ltd. (Radhe TMT) current offering at INR 33,700/MT EXW (Raigarh).

-- Raigarh based Scan Group (Shrishti TMT) is offering at INR 33,800/MT EXW.

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

-- Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 36,000/MT EXW (Mumbai).

-- Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 35,800/MT FoR (Gujarat).

-- J.R. Metal Chennai Ltd. (JR TMT) is current offering at INR 37,000/MT EXW.

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod assessed at INR 100-300/MT and trade reference price up by INR 900/MT to INR 31,100-300/MT ex-Raipur & by INR 400/MT to INR 31,300-500/MT ex-Durgapur.

-- ERW Pipe manufacturers have increased offers by INR 500-600/MT to INR 34,400/MT ex-Raipur, INR 36,500/MT ex-Mandi Gobindgarh & INR 34,000/MT ex-Rourkela

Reference prices as on 15th May'20

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22,500 22,400 22,600 + 500 22,600 22,900
Ex-Chennai HMS(80:20) 20,900 20,600 21,000 0 21,800 21,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,100 17,000 17,200 + 300 17,000 17,450
Ex-Rourkela Mix, FeM 80%, +/-1 15,700 15,600 15,800 + 200 15,500 16,600
Ex-Raipur Mix, FeM 80%, +/-1 16,300 16,200 16,400 + 100 16,600 17,700
Ex-Bellary Lumps, FeM 80%, +/-1 16,200 16,100 16,300 0 16,400 16,500
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,200 16,100 16,300 + 400 16,000 16,550
Ex-Raipur Lumps, FeM 80%, +/-1 15,500 15,400 15,600 + 200 15,600 16,900
Ex-Bellary Lumps, FeM 80%, +/-1 16,300 16,200 16,400 0 16,300 16,100
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,900 16,800 17,000 + 100 17,000 16,800
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 31,000 30,900 31,100 + 950 NA 29,650
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,750 26,700 26,800 + 450 26,500 26,150
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 26,300 26,200 26,400 + 500 25,600 25,750
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,650 26,600 26,700 + 550 26,000 26,150
Billet Ex-Mandi Gobindgarh 100x100mm, IS 2831 31,200 31,100 31,300 + 1,100 NA 29,800
Ex-Durgapur 100x100mm, IS 2831 27,250 27,200 27,300 + 450 27,000 26,600
Ex-Rourkela 100x100mm, IS 2831 26,700 26,600 26,800 + 400 26,200 26,100
Ex-Raipur 100x100mm, IS 2831 27,200 27,100 27,300 + 500 26,700 26,500
Ex-Ahmedabad 100x100mm, IS 2831 29,500 29,300 29,700 + 500 NA 28,400
Ex-Chennai 100x100mm, IS 2831 30,500 30,400 30,700 + 500 NA 30,000
Ex-Hyderabad 100x100mm, IS 2831 28,700 28,500 29,000 + 200 29,000 28,000
TMT Ex-Durgapur 12-25mm, Induction Grade, IS 1786- 500 Fe 32,500 32,300 32,700 + 300 32,000 30,600
Ex-Rourkela 12-25mm, Induction Grade, IS 1786- 500 Fe 32,700 32,600 32,800 + 300 32,400 30,900
Ex-Raipur 12-25mm, Induction Grade, IS 1786- 500 Fe 33,500 33,400 33,700 + 400 32,800 30,800
Ex-Ahmedabad 12-25mm, Induction Grade, IS 1786- 500 Fe 35,300 35,100 35,500 + 400 33,600 34,300
Ex-Mumbai 12-25mm, Induction Grade, IS 1786- 500 Fe 34,200 34,000 34,300 NA NA 33,400
Ex-Chennai 12-25mm, Induction Grade, IS 1786- 500 Fe 36,300 36,100 36,600 + 300 35,800 34,800
Ex-Hyderabad 12-25mm, Induction Grade, IS 1786- 500 Fe 35,000 34,800 35,200 + 500 35,000 32,500
Wire Rod Ex-Durgapur 5.5 mm, Wire Rod, Induction grade 31,400 31,300 31,800 + 400 31,300 29,700
Ex-Raipur 5.5 mm, Wire Rod, Induction grade 31,300 31,100 31,400 + 900 30,600 29,300

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

15 May 2020, 18:50 IST

 

 

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