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Indian steel market update- 25 June'20

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Semi Finished

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25 Jun 2020, 18:44 IST

Indian steel prices increased further due to active demand. As per daily assessment, sponge iron & rebar prices moved up by INR 100-200/t, while billet prices increased sharply by INR 100-500/t.

Sources believed that prices may remain volatile in coming days and there may be no significant hike in price range as finished steel demand continues to remain on an average basis on less construction activities despite limited production in major markets.

SteelMint's price assessment for induction furnaces billet in Indian market stood at INR 26,900-31,000/t ($352-404) EXW.

Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,700-16,800/t ($203-219); prices are EXW & excluding GST.

Rupee & BSE Sensex

-- On 25th June 2020 (Thursday) INR to USD exchange rate stood at INR 75.64.

-- ICEX (Indian Commodity Exchange Ltd) Jul'20 contract for STEELLONG today open at INR 30,070/t & last traded (IST 18:16 hrs) at INR 30,230/t.

-- BSE Sensex closed at 34,842(-26) on Thursday, as against last day (Wednesday) at 34,868(-561).

-- NSE Nifty50 index was closed today at 10,288(-16) & Nifty Metal at 2,030(-11).

Semi Finished

-- A couple of Indian private mills have recently concluded 50,000 t of pig iron export deals at around $340/t, CFR China.

-- Durgapur based Neo Metaliks increased steel grade pig iron price by INR 200/t to INR 23,500/t ex-plant on improved demand.

-- Rashmi Metaliks has maintained sponge P-DRI price at around INR 15,900/t FoR Durgapur, as per sources.

-- Sponge P-DRI manufacturers in Raipur slightly increased offers by INR 100/t to INR 15,600-15,700/t ex-plant & about 3,000t deals reported in local market by few major merchant suppliers.

-- Raigarh based Singhal Steel offered P-DRI at INR 15,300/t & Billet at INR 27,100-27,200/t ex-Raigarh.

-- Bhaskar Steel and Ferro Alloy Ltd is offering billet at INR 26,800-26900/t ex-plant(Up by INR 200/t).

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,000-15,200/t ex-Bellary.

-- BIOP Steels in South India is offering FeM 80 & 82 C-DRI lumps at INR 15,400/t & INR 15,800/t ex-plant, Karnataka & around 800 t deals reported in Wada, Maharashtra.

Rebar (12 mm)

-- Paras TMT offers at INR 33,600/t EXW Muzaffarnagar (Up by INR 100/t).

-- GK TMT stable at INR 33,500/t EXW Raipur.

-- Scan Group (Shrishti TMT) is offering at INR 31,500/t EXW Raigarh.

-- Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 31,300/t EXW Rourkela.

-- Kalika TMT offers at INR 32,700/t EXW Jalna (Up by INR 100/t).

-- Diamond TMT is offering at INR 34,100/t FoR Ahmedabad.

-- Trade discount by Raipur based heavy structure manufacturers is at INR 300-700/t and trade price of 200 Angle is at INR 33,700-34,100/t EXW.

Wire Rod & Pipe

-- Trade discount in Raipur wire rod drop by INR 200/t to INR 500-600/t, also base prices up by INR 200/t to INR 31,100/t ex-plant. In Durgapur trade reference price up by INR 200/t to INR 31,400-31,800/t ex-plant.

-- ERW Pipe Manufacturers have kept offers at firm level to INR 33,900/t ex-Raipur, INR 36,900/t ex-Mandi Gobindgarh & INR 34,300-34,500/t ex-Rourkela.

Reference prices as on 25th Jun'20

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	21,000	20,900	21,100	- 300	21,300	22,000
	Ex-Mumbai	HMS(80:20)	19,700	19,600	19,900	+ 200	19,600	20,600
	Ex-Chennai	HMS(80:20)	21,300	21,100	21,400	0	21,000	21,100
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	16,800	16,700	16,900	+ 50	16,450	17,600
	Ex-Rourkela	Mix, FeM 80%, +/-1	15,750	15,700	15,800	+ 50	15,500	16,400
	Ex-Raipur	Mix, FeM 80%, +/-1	16,500	16,400	16,600	+ 100	15,900	17,100
	Ex-Bellary	Lumps, FeM 80%, +/-1	15,400	15,300	15,500	0	15,500	16,500
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	15,800	15,700	15,900	+ 50	15,450	16,600
	Ex-Raipur	Lumps, FeM 80%, +/-1	15,600	15,500	15,700	+ 100	14,900	16,300
	Ex-Bellary	Lumps, FeM 80%, +/-1	15,200	15,100	15,300	0	15,000	16,500
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	15,700	15,600	15,800	0	15,700	17,000
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	30,850	30,800	30,900	+ 450	30,500	31,300
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	27,250	27,200	27,300	+ 250	27,050	28,150
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	26,600	26,500	26,700	+ 100	26,600	28,050
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	27,500	27,400	27,600	+ 200	27,200	28,650
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	27,400	27,300	27,500	+ 200	26,800	29,000
Billet	Ex-Mandi Gobindgarh	100x100mm, IS 2831	31,000	30,900	31,100	+ 450	30,550	31,500
	Ex-Durgapur	100x100mm, IS 2831	27,750	27,700	27,800	+ 300	27,450	28,650
	Ex-Rourkela	100x100mm, IS 2831	26,900	26,800	27,000	+ 50	26,800	28,500
	Ex-Raipur	100x100mm, IS 2831	27,850	27,800	27,900	+ 300	27,500	29,150
	Ex-Ahmedabad	100x100mm, IS 2831	28,700	28,600	28,800	+ 100	28,400	29,000
	Ex-Mumbai	100x100mm, IS 2831	27,900	27,800	28,000	+ 400	27,100	29,400
	Ex-Chennai	100x100mm, IS 2831	29,500	29,400	29,700	0	29,500	30,900
	Ex-Hyderabad	100x100mm, IS 2831	28,000	27,900	28,100	+ 300	27,500	29,500
TMT	Ex-Delhi/NCR	12-25mm, Induction Grade, IS 1786- 500 Fe	34,600	34,400	34,800	+ 100	35,100	NA
	Ex-Durgapur	12-25mm, Induction Grade, IS 1786- 500 Fe	32,000	31,800	32,200	+ 200	32,200	34,300
	Ex-Rourkela	12-25mm, Induction Grade, IS 1786- 500 Fe	31,400	31,300	31,500	+ 100	32,300	35,200
	Ex-Raipur	12-25mm, Induction Grade, IS 1786- 500 Fe	31,000	30,800	31,100	- 100	32,100	35,300
	Ex-Jalna	12-25mm, Induction Grade, IS 1786- 500 Fe	32,600	32,400	32,700	+ 100	32,800	36,400
	Ex-Mumbai	12-25mm, Induction Grade, IS 1786- 500 Fe	31,600	31,400	31,700	0	32,400	34,100
	Ex-Chennai	12-25mm, Induction Grade, IS 1786- 500 Fe	35,600	35,500	35,800	- 100	35,500	36,300
	Ex-Hyderabad	12-25mm, Induction Grade, IS 1786- 500 Fe	32,500	32,300	32,600	+ 100	32,500	34,500
Wire Rod	Ex-Durgapur	5.5 mm, Wire Rod, Induction grade	31,500	31,400	31,800	+ 200	32,000	33,600
Wire Rod	Ex-Raipur	5.5 mm, Wire Rod, Induction grade	30,800	30,600	31,100	+ 300	30,500	33,800