Indian Steel Market Update- 21 May'20
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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
