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Indian Steel Market Update- 19 May'20

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By
BigMint Bureau
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19 May 2020, 18:12 IST
Indian Steel Market Update- 19 May'20

Indian sponge iron, billet & rebar prices fluctuated by INR 100-300/MT D-o-D in major locations. However inquiries were better today than yesterday, as stated by market participants.

Also it is learned that, supply tightness of rebar in central & eastern India continues. However, sponge iron manufacturers remained under selling pressure due to low demand as consumption is limited with majority of furnaces still remaining on shutdown in India.

SteelMint's price assessment for induction furnaces billet in Indian market stood at INR 26,500-30,800/MT (USD 350-407) EXW.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,500-16,600/MT (USD 204-219); prices are EXW & excluding GST.

Rupee & BSE Sensex

-- On 19th May 2020 (Tuesday) INR to USD exchange rate stood at INR 75.67.

-- ICEX (Indian Commodity Exchange Ltd) May'20 contract for STEELLONG today open at INR 30,430/MT & last traded (IST 18:12 hrs) at INR 30,450/MT.

-- BSE Sensex closed at 30,196(+167) on Tuesday, as against last day (Monday) at 30,028(-1,068).

-- NSE Nifty50 index was closed today at 8,879(+55) & Nifty Metal at 1,693(+20).

Raw Material

-- Serajuddin- Odisha's major merchant iron ore mine has decreased iron ore lump offers by INR 500/MT (USD 7) effective from today (19 May'20).

-- BMM Ispat located in Bellary, Karnataka sold around 10,000 MT pellets in nearby market at INR 6,100-6,200/MT EXW in last two days.

Semi Finished

-- Durgapur based Neo Metaliks has raised steel grade pig iron offers at INR 23,600-700/MT EXW.

-- Electrosteels from Bokaro has offered steel grade pig iron at INR 23,300-23,500/MT EXW.

-- Sponge manufacturers in Raipur maintained P-DRI offers firm at INR 15,300-400/MT EXW. However few deals by participants reported at INR 15,100-200/MT EXW & FoR basis from Raigarh.

-- Billet deals reported at INR 27,000-27,100/MT FoR Raipur from Raigarh based manufacturers.

-- As per Mumbai based market sources, couple of transaction observed in Ingot and Billet at INR 28,200/MT & INR 28,500/MT respectively.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,300-16,400/MT ex-Bellary & around 2,000 MT deals reported in nearby region.

Rebar (12 mm)

-- Real Ispat (GK TMT) has unchanged their offer at INR 36,000/MT EXW (Raipur).

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

-- Sarvottam Rollig Mills (Paras TMT) has increased the offer at INR 34500/MT EXW (Muzaffarnagar)

-- Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 36,000/MT EXW (Jalna).

-- Vinayak TMT Bars Pvt. Ltd is offering at INR 35,900/MT FoR (Gujarat).

-- Chennai based ARS Steel (ARS 550 D) is offering at INR 39,500/MT EXW.

-- Central region, Raipur based heavy structure manufacturers have maintained trade discount by INR 500-900/MT and trade reference prices at INR 34,200-34,500/MT (200 Angle) EXW.

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod hovering at INR 800-1,000/MT through the traders & trade reference price drop by INR 300/MT to INR 30,300-30,800/MT ex-Raipur. However in Durgapur prices up by INR 100/MT to INR 31,300-500/MT EXW.

-- ERW Pipe Manufacturers have kept offers at firm level to INR 34,300-34,500/MT ex-Raipur, INR 36,800/MT ex-Mandi Gobindgarh & INR 34,400/MT ex-Rourkela.

Reference prices as on 19th May'20

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22,600 22,500 22,700 - 300 21,500 22,600
Ex-Chennai HMS(80:20) 21,200 21,000 21,300 + 100 21,000 21,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 16,600 16,500 16,700 - 200 16,500 17,450
Ex-Rourkela Mix, FeM 80%, +/-1 15,500 15,400 15,600 - 100 15,050 16,600
Ex-Raipur Mix, FeM 80%, +/-1 16,100 16,000 16,200 - 100 16,000 17,700
Ex-Bellary Lumps, FeM 80%, +/-1 16,200 16,100 16,300 0 16,100 16,500
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 15,600 15,500 15,700 - 200 15,450 16,550
Ex-Raipur Lumps, FeM 80%, +/-1 15,200 15,100 15,300 - 100 15,000 16,900
Ex-Bellary Lumps, FeM 80%, +/-1 16,300 16,200 16,400 - 100 16,200 16,100
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,800 16,700 16,900 0 16,700 16,800
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 30,400 30,300 30,500 0 29,300 29,650
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,300 26,200 26,400 - 200 25,900 26,150
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 26,000 25,900 26,100 0 25,200 25,750
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,500 26,400 26,600 + 50 25,500 26,150
Billet Ex-Mandi Gobindgarh 100x100mm, IS 2831 30,500 30,400 30,600 0 29,400 29,800
Ex-Durgapur 100x100mm, IS 2831 26,800 26,700 26,900 - 200 26,400 26,600
Ex-Rourkela 100x100mm, IS 2831 26,500 26,400 26,600 0 25,800 26,100
Ex-Raipur 100x100mm, IS 2831 27,000 26,900 27,100 + 150 26,000 26,500
Ex-Ahmedabad 100x100mm, IS 2831 29,100 29,000 29,200 - 300 NA 28,400
Ex-Chennai 100x100mm, IS 2831 30,800 30,800 31,000 + 300 30,400 30,000
Ex-Hyderabad 100x100mm, IS 2831 28,500 28,400 28,600 0 28,000 28,000
TMT Ex-Mandi Gobindgarh 12-25mm, Induction Grade, IS 1786- 500 Fe 35,700 35,600 35,900 NA NA 34,300
Ex-Durgapur 12-25mm, Induction Grade, IS 1786- 500 Fe 32,700 32,500 32,900 + 200 31,500 30,600
Ex-Rourkela 12-25mm, Induction Grade, IS 1786- 500 Fe 33,000 32,800 33,200 0 32,200 30,900
Ex-Raipur 12-25mm, Induction Grade, IS 1786- 500 Fe 33,900 33,800 34,000 + 100 32,500 30,800
Ex-Jalna 12-25mm, Induction Grade, IS 1786- 500 Fe 35,700 35,500 35,900 NA NA 35,100
Ex-Mumbai 12-25mm, Induction Grade, IS 1786- 500 Fe 34,200 34,000 34,300 0 NA 33,400
Ex-Chennai 12-25mm, Induction Grade, IS 1786- 500 Fe 36,500 36,400 36,700 + 200 36,000 34,800
Ex-Hyderabad 12-25mm, Induction Grade, IS 1786- 500 Fe 34,500 34,400 34,600 0 34,500 32,500
Wire Rod Ex-Durgapur 5.5 mm, Wire Rod, Induction grade 31,400 31,300 31,800 + 100 30,600 29,700
Ex-Raipur 5.5 mm, Wire Rod, Induction grade 30,800 30,300 31,300 - 300 29,200 29,300

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

19 May 2020, 18:12 IST

 

 

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