Daily Update: Indian Steel Market 23 Aug’19

Indian steel prices rise by INR 100-500/MT today in major market trade activities amid average inquires.

The Sponge iron market registered slight incline in price range by INR 100-300/MT, inline Billet & Rebar offers increased by INR 200-500/MT, D-o-D.

SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 25,400-28,600/MT (USD 354-399) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 15,900-16,900/MT (USD 221-236); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

— On 22nd August 2019 (Friday) INR to USD exchange rate stood at INR 71.72.

— ICEX (Indian Commodity Exchange Ltd) Sep’19 contract for STEELLONG today open at INR 27,350/MT & last traded (IST 18:22 hrs) at INR 27,720/MT.

— BSE Sensex closed at 36,701(+228) on Friday, as against last day (Thursday) at 36,472(-587).

— NSE Nifty50 index was closed today at 10,829(+88) & Nifty Metal at 2,278(+75).

Raw Materials

— NINL starts accumulating Iron ore to re-start it’s blast furnace. According to sources company has managed to source 30,000 MT iron ore.

— NMDC to auction 40,000 MT Iron ore from Chhattisgarh Mines on 28 Aug’19.

— Melting scrap offers in Western India- Gujarat incline by INR 400/MT in a day trade activities.

Semi Finished

— In today’s price circular, NINL offers Steel (N1) grade material pig iron are at INR 22,500/MT (USD 314) & for Foundry (N2) grade at INR 23,000/MT (USD 321), ex-Cuttack, Odisha.

— Raipur based manufacturer sold healthy volumes of sponge P-DRI at INR 15,500-15,600/MT ex-plant.

— Mid sized mills export offers to Nepal raised by USD 5/MT and assessed at around USD 410-415/MT for Wire rod & around USD 355-360/MT for Billet, ex-plant at Durgapur, eastern India.

— Central India, Raigarh based sponge manufacturer (900 TPD) has offered Pellet sponge at INR 15,700/MT FoR Raipur.

— Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 15,800/MT, ex-plant & excluding GST.

— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,900/MT ex-Bellary, an official reported. And added 2,500-3,000 MT sold to Goa, Hindupur & local Bellary region.

— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,300/MT & INR 16,700/MT ex-plant, Karnataka; an official reported.

Wire Rod & Pipe

— Trade discounts in Raipur wire rod firm at INR 1,300-1,500/MT by re-sellers, although base prices hike through the manufacturers by INR 300/MT to INR 30,900/MT ex-plant. Meanwhile in Durgapur trade reference prices up by INR 300/MT to INR 29,500-30,500/MT ex-plant.

— Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 33,000/MT ex-plant & excluding GST. Offers rise by INR 500/MT D-o-D.

— Raipur, Central India based ERW pipe manufacturers offers reported at around INR 30,800-31,000/MT ex-plant & excluding GST. Offers incline by INR 300-400/MT D-o-D.

Rebar (12 mm)

— Raipur based Real Ispat (GK TMT) is offering at INR 31,700/MT (up by INR 300/MT).

— Odisha based Subhlabh TMT was offered at INR 29,700/MT.

— Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 31,100/MT.

— Odisha based Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 29,500/MT.

— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 31,300/MT (up by INR 200/MT).

— Wardha based Sangam TMT is offering at INR 30,400/MT (up by INR 100/MT).

— Gujarat based Diamond TMT is offering at INR 32,000/MT (up by INR 100/MT).

— Rathi Steels based in North region is current offering around INR 33,500/MT (Delhi).

Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.

Reference prices as on 23rd August 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 21,700 21,600 21,800 + 400 22,200 22,000
Ex-Mumbai HMS(80:20) 21,500 21,300 21,500   0 20,900 21,000
Ex-Chennai HMS(80:20) 20,700 20,600 20,800 + 300 20,500 20,200
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 16,900 16,800 17,000 + 300 16,800 17,450
Ex-Rourkela Mix, FeM 80%, +/-1 15,900 15,800 16,000   0 16,200 16,500
Ex-Raipur Mix, FeM 80%, +/-1 16,800 16,700 16,900 + 100 17,200 17,200
Ex-Bellary Lumps, FeM 80%, +/-1 16,300 16,200 16,400   0 16,600 16,400
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 15,900 15,800 16,000 + 300 15,800 16,500
Ex-Raipur Lumps, FeM 80%, +/-1 15,650 15,600 15,700 + 150 16,100 16,200
Ex-Bellary Lumps, FeM 80%, +/-1 15,900 15,800 16,000   0 16,100 15,900
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,400 16,300 16,400   0 16,500 16,400
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 28,500 28,400 28,600 + 450 28,850 29,350
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 25,700 25,600 25,800 + 200 25,800 26,100
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,000 24,900 25,100 + 300 25,400 25,500
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 25,500 25,400 25,600 + 350 25,600 26,250
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 27,400 27,300 27,500 + 400 27,250 27,650
Billet Ex-Mandi Gobindgarh 100×100 mm, IS 2831 28,600 28,500 28,700 + 500 28,900 29,500
Ex-Durgapur 100×100 mm, IS 2831 26,100 26,000 26,200 + 300 26,400 26,600
Ex-Rourkela 100×100 mm, IS 2831 25,400 25,300 25,500 + 300 25,700 25,700
Ex-Raipur 100×100 mm, IS 2831 26,100 26,000 26,200 + 400 25,900 26,600
Ex-Ahmedabad 100×100 mm, IS 2831 27,600 27,500 27,700 + 200 28,200 28,500
Ex-Mumbai 100×100 mm, IS 2831 27,700 27,600 27,800 + 400 27,500 27,900
Ex-Chennai 100×100 mm, IS 2831 28,100 28,000 28,200 – 100 28,500 29,200
Ex-Hyderabad 100×100 mm, IS 2831 26,200 26,000 26,500 + 200 27,000 28,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,800 32,600 33,000 + 100 33,200 34,100
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 29,800 29,600 30,000 + 200 30,600 30,800
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 29,600 29,500 29,700 + 500 29,800 NA
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 29,300 29,100 29,500 + 200 29,900 29,700
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31,000 30,800 31,100 + 100 31,200 32,100
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 30,400 30,200 30,600 + 200 30,800 31,100
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 32,400 32,200 32,600 – 100 33,000 33,700
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 30,200 30,000 30,400   0 31,000 32,200
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 29,700 29,500 30,500 + 300 30,700 30,400
Ex-Raipur Wire Rod(5.5 MM) 29,900 29,400 30,900 + 300 30,200 31,400

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


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *