Go to List

Indian Steel Market Update- 21 May'20

...

Semi Finished
By
BigMint Bureau
672 Reads
21 May 2020, 18:14 IST
Indian Steel Market Update- 21 May'20

Indian steel prices continued their rally on active demand. As per daily assessment, sponge iron prices increased by INR 100-400/MT, billet by INR 200-500/MT, while rebar upto INR 900/MT on D-o-D basis in major markets.

The re-rollers in major markets reported lack of inventory levels, hence are not expecting any major price correction in the coming days.

SteelMint's price assessment for induction furnaces billet in Indian market stood at INR 27,300-31,000/MT (USD 361-410) EXW.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,700-17,200/MT (USD 207-228); prices are EXW & excluding GST.

Rupee & BSE Sensex

-- On 21st May 2020 (Thursday) INR to USD exchange rate stood at INR 75.63.

-- ICEX (Indian Commodity Exchange Ltd) Jun'20 contract for STEELLONG today open at INR 30,600/MT & last traded (IST 18:08 hrs) at INR 30,750/MT.

-- BSE Sensex closed at 30,932(+114) on Thursday, as against last day (Wednesday) at 30,818(+622).

-- NSE Nifty50 index was closed today at 9,106(+39) & Nifty Metal at 1,742(+31).

Raw Material

-- Silicon Manganese (60-14) offers in Raipur reported at INR 66,000/MT, while few deals learned at INR 65,000-65,250/MT EXW.

-- Raipur based pellet maker sold around 5,000 MT pellets to outside market at INR 5,700/MT EXW -Sources .

-- BMM Ispat located in Bellary, Karnataka sold around 5,000 MT pellets in nearby market at INR 6,200/MT EXW in the last day.

-- Indian trader concludes over 60,000 MT Mill Scale deal in domestic market at INR 2,700/MT EXW Raipur

Semi Finished

-- Mid scale mills billet export offers to Nepal up by USD 5-6/MT to USD 360-362/MT ex-mill at Durgapur, equivalent to USD 390/MT CPT Nepal.

-- Raipur based major merchant sponge producer has raised P-DRI offers by INR 200/MT to INR 15,400-500/MT EXW. Few deals reported at INR 15,400-500/MT EXW & around INR 15,600-700/MT FoR basis.

-- Billet deals reported at INR 28,100/MT FoR Raipur from Raigarh based manufacturers.

-- Rashmi Metaliks in Durgapur has further raised sponge P-DRI price by INR 300/MT to INR 16,300/MT FoR Durgapur, sources reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,300-16,400/MT ex-Bellary & around 3,000 MT deals reported in nearby region.

Rebar (12 mm)

-- Rathi Stelmax Steel is offering at INR 36,700/MT EXW (North Region).

-- Sarvottam Rolling Mills Pvt. Ltd. (Paras TMT) is offering at INR 35,300/MT EXW (Muzaffarnagar).

-- Real Ispat (GK TMT) is offering at INR 36,500/MT EXW, Raipur (up by INR 500/MT).

-- Scan Group (Shrishti TMT) is offering at INR 34,500/MT EXW (Raigarh).

-- Bajrangbali Steel Industries Pvt Ltd in Odisha is offering Rebar at INR 34,000/MT EXW.

-- Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 36,200/MT EXW, Jalna.

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

-- Chennai based Ponneri Steel Ind. (Triple Power) is offering at INR 37,000/MT EXW.

-- Trade discount by Raipur based heavy structure manufacturers have maintained at INR 600-900/MT and trade reference prices at INR 34,700-35,000/MT (200 Angle) EXW.

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod stable at INR 200-300/MT & although trade reference prices up by INR 800/MT to INR 31,800-900/MT ex-Raipur & by INR 500/MT to INR 32,000-32,200/MT ex-Durgapur.

-- ERW Pipe Manufacturers have increased offers by INR 300-600/MT to INR 35,300-35,400/MT ex-Raipur, INR 37,400/MT ex-Mandi Gobindgarh & INR 35,500/MT ex-Rourkela.

Reference prices as on 21st May'20

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22,400 22,300 22,500 0 22,000 22,600
Ex-Chennai HMS(80:20) 21,100 20,900 21,200 0 20,900 21,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,200 17,100 17,300 + 300 16,800 17,300
Ex-Rourkela Mix, FeM 80%, +/-1 15,700 15,600 15,800 + 200 15,500 16,400
Ex-Raipur Mix, FeM 80%, +/-1 16,500 16,400 16,600 + 300 16,200 17,600
Ex-Bellary Lumps, FeM 80%, +/-1 16,300 16,200 16,400 + 100 16,200 16,450
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,250 16,200 16,300 + 350 15,800 16,400
Ex-Raipur Lumps, FeM 80%, +/-1 15,500 15,400 15,600 + 200 15,300 16,750
Ex-Bellary Lumps, FeM 80%, +/-1 16,400 16,300 16,400 + 100 16,300 16,100
Ex-Hyderabad Lumps, FeM 80%, +/-1 17,000 16,900 17,100 + 100 16,800 16,800
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 30,900 30,800 31,000 + 250 30,050 29,650
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 27,100 27,000 27,200 + 300 26,300 26,150
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 26,800 26,700 26,900 + 600 25,800 25,750
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 27,650 27,600 27,700 + 550 26,100 26,000
Billet Ex-Mandi Gobindgarh 100x100mm, IS 2831 31,000 30,900 31,100 + 200 30,100 29,800
Ex-Durgapur 100x100mm, IS 2831 27,600 27,500 27,700 + 300 26,800 26,600
Ex-Rourkela 100x100mm, IS 2831 27,300 27,200 27,400 + 600 26,300 26,100
Ex-Raipur 100x100mm, IS 2831 28,000 27,900 28,100 + 500 26,700 26,400
Ex-Ahmedabad 100x100mm, IS 2831 28,900 28,800 29,000 - 100 29,000 28,400
Ex-Chennai 100x100mm, IS 2831 31,000 30,900 31,200 0 30,000 30,000
Ex-Hyderabad 100x100mm, IS 2831 29,500 29,400 29,600 + 800 28,500 28,000
TMT Ex-Mandi Gobindgarh 12-25mm, Induction Grade, IS 1786- 500 Fe 36,000 35,800 36,200 + 200 NA 34,300
Ex-Durgapur 12-25mm, Induction Grade, IS 1786- 500 Fe 33,200 33,000 33,400 + 200 32,200 30,600
Ex-Rourkela 12-25mm, Induction Grade, IS 1786- 500 Fe 34,000 33,900 34,100 + 700 32,400 30,900
Ex-Raipur 12-25mm, Induction Grade, IS 1786- 500 Fe 34,400 34,400 34,600 + 400 33,100 30,800
Ex-Jalna 12-25mm, Induction Grade, IS 1786- 500 Fe 36,000 35,900 36,200 0 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 36,600 36,400 36,800 + 100 36,000 34,800
Ex-Hyderabad 12-25mm, Induction Grade, IS 1786- 500 Fe 35,000 34,900 35,100 + 500 34,500 32,500
Wire Rod Ex-Durgapur 5.5 mm, Wire Rod, Induction grade 32,100 32,000 32,500 + 500 31,000 29,700
Ex-Raipur 5.5 mm, Wire Rod, Induction grade 31,900 31,800 32,100 + 800 30,400 29,300

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

21 May 2020, 18:14 IST

 

 

You have 1 complimentary insights remaining! Stay informed with BigMint
Login Buy Now
Related Insights
;