Go to List

Indian steel market update- 24 June'20

...

Semi Finished

823 Reads

24 Jun 2020, 19:27 IST

Indian rebar & billet prices increased further by INR 100-400/t, while sponge iron surged upto INR 500/t on d-o-d basis in major markets. Sources reported improved demand since last couple of days resulting in price hike in spot market.

SteelMint's price assessment for induction furnaces billet in Indian market stood at INR 26,800-30,600/t ($352-404) EXW.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,400-16,800/t ($203-219); prices are EXW & excluding GST.

Rupee & BSE Sensex

-- On 24th June 2020 (Wednesday) INR to USD exchange rate stood at INR 75.64.

-- ICEX (Indian Commodity Exchange Ltd) Jul'20 contract for STEELLONG today open at INR 30,200/t & last traded (IST 19:05 hrs) at INR 30,150/t.

-- BSE Sensex closed at 34,868(-561) on Wednesday, as against last day (Tuesday) at 35,430(+519).

-- NSE Nifty50 index was closed today at 10,471(+159) & Nifty Metal at 2,085(+36).

Raw Material

-- A Jharsuguda (Odisha) based pellet maker has concluded around 7,000-8,000 t deal for Raigarh (central India) at INR 5,200-5,300/t EXW.

-- BMM Ispat located in Bellary, Karnataka sold around 20,000 t pellets in nearby market at INR 5,750-5,800/t EXW in the last day.

Semi Finished

-- An Indian govt owned mill has concluded 30,000t slab export deal at around $377-378/t FoB India, SteelMint.

-- Durgapur based Neo Metaliks offering steel grade pig iron at INR 23,300-400/t EXW.

-- Rashmi Metaliks has furhter raised sponge P-DRI price by INR 300-400/t to around INR 15,900/t FoR Durgapur, as per sources.

-- Sponge manufacturers in Raipur rallied offers for P-DRI by INR 500/t to INR 15,500-15,700/t EXW on limited availbility of material & less selling interest and few deals reported at around INR 15,500/t EXW.

-- Bhaskar Steel and Ferro Alloy Ltd is offering Billet at INR 26,700-26,800/t EXW.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,000-15,200/t ex-Bellary & around 3,000 t deals reported in nearby region.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 15,500/t & INR 15,800/t EXW, Karnataka.

Rebar (12 mm)

-- Swarup TMT is offering at INR 33,500/t EXW Muzaffarnagar.

-- GK TMT offers at INR 33,500/t EXW Raipur (Up by INR 300/t).

-- Scan Group branding (Shrishti TMT) is offering at INR 31,700/t EXW Raigarh.

-- Bajrangbali Steel Industries Pvt Ltd in Rourkela is offering Rebar at INR 31,100/t EXW.

-- Kalika TMT is offering at INR 32,500/t EXW Jalna.

-- Mono TMT is offering at INR 33,600/t FoR Ahmedabad (Up by INR 200/t).

-- Triple Power offers at INR 36,500/t EXW Chennai.

-- Trade discount by Raipur based heavy structure manufacturers is at INR 300-700/t and trade price of 200 Angle is at INR 33,800-34,200/t EXW.

Wire Rod & Pipe

-- Trade discount in Raipur wire rod is hovering at INR 700/t, however base prices increased by INR 400/t to INR 30,900/t EXW. Also in Durgapur trade reference price up by INR 300/t to INR 31,200-31,500/t EXW.

-- ERW Pipe manufacturers have increased offers by INR 300-400/t to INR 33,800-34,000/t ex-Raipur, INR 36,800-37,000/t ex-Mandi Gobindgarh & INR 34,000/t ex-Rourkela.

Reference prices as on 24th Jun'20

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	21,300	21,200	21,400	+ 300	21,100	21,900
	Ex-Mumbai	HMS(80:20)	19,500	19,400	19,600	+ 100	20,300	20,500
	Ex-Chennai	HMS(80:20)	21,300	21,200	21,400	+ 300	21,000	21,000
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	16,750	16,700	16,800	+ 250	16,500	17,500
	Ex-Rourkela	Mix, FeM 80%, +/-1	15,700	15,600	15,800	+ 100	15,800	16,400
	Ex-Raipur	Mix, FeM 80%, +/-1	16,400	16,300	16,500	+ 500	15,900	17,100
	Ex-Bellary	Lumps, FeM 80%, +/-1	15,400	15,300	15,500	0	15,700	16,500
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	15,750	15,700	15,800	+ 250	15,500	16,500
	Ex-Raipur	Lumps, FeM 80%, +/-1	15,500	15,400	15,600	+ 500	14,900	16,200
	Ex-Bellary	Lumps, FeM 80%, +/-1	15,200	15,100	15,300	+ 100	15,000	16,400
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	15,700	15,600	15,800	+ 100	15,800	17,000
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	30,400	30,300	30,500	- 150	30,450	31,150
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	27,000	26,900	27,100	0	27,150	28,100
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	26,500	26,400	26,600	+ 250	26,800	27,900
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	27,300	27,200	27,400	+ 300	27,450	28,500
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	27,200	27,100	27,300	+ 100	27,100	29,200
Billet	Ex-Mandi Gobindgarh	100x100mm, IS 2831	30,550	30,500	30,600	- 150	30,600	31,300
	Ex-Durgapur	100x100mm, IS 2831	27,450	27,400	27,500	- 50	27,600	28,600
	Ex-Rourkela	100x100mm, IS 2831	26,850	26,800	26,900	+ 250	27,100	28,300
	Ex-Raipur	100x100mm, IS 2831	27,550	27,500	27,600	+ 250	27,800	29,050
	Ex-Ahmedabad	100x100mm, IS 2831	28,600	28,500	28,700	+ 100	28,300	29,000
	Ex-Mumbai	100x100mm, IS 2831	27,500	27,400	27,600	+ 100	27,400	29,500
	Ex-Chennai	100x100mm, IS 2831	29,500	29,300	29,600	0	29,500	30,900
	Ex-Hyderabad	100x100mm, IS 2831	27,700	27,500	28,000	+ 200	28,000	29,500
TMT	Ex-Delhi/NCR	12-25mm, Induction Grade, IS 1786- 500 Fe	34,500	34,300	34,700	0	35,400	NA
	Ex-Durgapur	12-25mm, Induction Grade, IS 1786- 500 Fe	31,800	31,600	32,000	+ 100	32,300	34,300
	Ex-Rourkela	12-25mm, Induction Grade, IS 1786- 500 Fe	31,300	31,200	31,400	- 100	32,600	35,300
	Ex-Raipur	12-25mm, Induction Grade, IS 1786- 500 Fe	31,100	30,900	31,200	+ 200	32,100	35,300
	Ex-Jalna	12-25mm, Induction Grade, IS 1786- 500 Fe	32,500	32,300	32,700	+ 100	32,900	36,400
	Ex-Mumbai	12-25mm, Induction Grade, IS 1786- 500 Fe	31,600	31,400	31,700	0	32,500	34,200
	Ex-Chennai	12-25mm, Induction Grade, IS 1786- 500 Fe	35,700	35,600	36,000	+ 100	35,500	36,400
	Ex-Hyderabad	12-25mm, Induction Grade, IS 1786- 500 Fe	32,400	32,300	32,500	+ 400	32,500	35,000
Wire Rod	Ex-Durgapur	5.5 mm, Wire Rod, Induction grade	31,300	31,200	31,500	+ 300	32,000	33,500
Wire Rod	Ex-Raipur	5.5 mm, Wire Rod, Induction grade	30,500	30,200	30,900	+ 500	30,700	33,700