Indian spot steel trade activities remain limited over festive mood in the country and bank holiday, this leads to slight price fluctuation of INR 100-300/MT, day on day in major markets.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 28,500-32,000/MT (USD 395-444) ex-plant.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 18,400-19,500/MT (USD 256-271); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 21st February 2020 (Friday) INR to USD exchange rate stood at INR 71.98.
— ICEX (Indian Commodity Exchange Ltd) Mar’20 contract for STEELLONG today open at INR 31,800/MT & last traded (IST 18:11 hrs) at INR 31,740/MT.
Raw Material
— SAIL is to conduct an auction of 28,000 MT Iron ore fines (Fe 62.59%) from Dalli mines of Bhilai Steel Plant (BSP), Chhattisgarh. The auction is scheduled on 25 Mar’20.
— South African RB2 (5500 NAR) coal offers are assessed at USD 63/MT on FoB basis & USD 77/MT CNF India
— Melting scrap offers in Western India- Gujarat decline by INR 200/MT in a day trade activity.
Semi Finished
— Induction grade billet (100*100 mm) export deals reported to Nepal at around USD 398-400/MT ex-mill at Durgapur, equivalent to USD 425/MT CPT Nepal.
— SAIL received poor response in pig iron offers from Bhilai Steel Plant. The company alotted to sell about 20,000 MT basic grade pig iron at INR 28,200/MT ex-plant, however only about 2,000 MT bookings were made by local traders and furnaces as well. While, the remaining about 90% material remained unsold.
— Rashmi Metaliks in Durgapur has kept sponge P-DRI offers firm at around INR 18,600/MT, as per sources.
— Raipur sponge P-DRI offers firm at INR 18,600-700/MT ex-plant and around 4,000-5,000 MT deals reported by major suppliers. Further deals from Raigarh assessed at INR 18,800/MT FoR Raipur.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,300-18,400/MT ex-Bellary & around 1,000 MT deals reported in nearby market.
Rebar (12 mm)
— Raipur based Real Ispat (GK TMT) is current offering at INR 35,400/MT.
— Raigarh based Scan Group branding (Shrishti TMT) has unchanged their offer at INR 33,500/MT.
— Raigarh based Anjani Steels Ltd. (Radhe TMT) is current offering at INR 33,400/MT.
— Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 35,700/MT (down by INR 300/MT).
— Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 35,700/MT (down by INR 200/MT).
— Gujarat based, Mono Steel (India) Ltd (Mono TMT) has unchanged their offer at INR 37,100/MT.
Wire Rod & Pipe
— Wire rod offers remain firm in Raipur at INR 32,000-32,200/MT by traders & INR 32,300-32,500/MT through the manufacturers, ex-works. However in Durgapur offers drop by INR 100/MT to 32,400-33,000/MT ex-plant.
— ERW Pipe Manufacturers have kept offers at firm level to INR 33,500/MT ex-Raipur, INR 36,800/MT ex-Mandi Gobindgarh & INR 33,600-33,800/MT ex-Rourkela.
Reference prices as on 21st February 2020
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 23,500 | 23,400 | 23,600 | – 200 | 23,500 | 24,200 |
| Ex-Mumbai | HMS(80:20) | 23,400 | 23,300 | 23,500 | + 100 | 22,400 | 23,200 | |
| Ex-Chennai | HMS(80:20) | 21,700 | 21,500 | 21,900 | – 100 | 21,600 | 23,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 19,400 | 20,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | – 100 | 18,750 | 19,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 19,400 | 20,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,400 | 18,300 | 18,500 | 0 | 18,400 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,600 | 18,500 | 18,700 | + 50 | 18,400 | 19,750 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | 0 | 18,500 | 19,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | 0 | 18,500 | 18,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | 0 | 19,000 | 19,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | + 150 | 31,200 | 32,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,600 | 28,500 | 28,700 | – 50 | 28,650 | 30,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 28,000 | 28,100 | 0 | 27,900 | 28,950 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,650 | 28,600 | 28,700 | + 100 | 28,450 | 29,550 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | 0 | 29,700 | 32,000 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | + 200 | 31,600 | 32,900 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 29,100 | 29,000 | 29,200 | – 50 | 29,150 | 30,700 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 28,500 | 28,400 | 28,600 | + 100 | 28,150 | 29,500 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 29,150 | 29,100 | 29,200 | + 50 | 28,800 | 30,100 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 30,900 | 30,800 | 31,000 | 0 | 30,700 | 32,900 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 30,900 | 30,800 | 31,000 | 0 | 30,100 | 32,300 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 30,350 | 30,300 | 30,400 | – 100 | 30,700 | 31,900 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 30,500 | 30,400 | 30,600 | 0 | 30,500 | 31,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 35,300 | 35,100 | 35,400 | – 100 | 35,100 | 36,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,800 | 33,200 | 0 | 33,000 | 34,600 | |
| Ex-Rourkela | 12-25 MM, IS 1786- 500 Fe | 33,000 | 32,900 | 33,100 | 0 | 33,000 | 33,700 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 33,100 | 32,900 | 33,200 | – 100 | 32,700 | 33,500 | |
| Ex-Jalna | 12-25 MM, IS 1786- 500 Fe | 35,600 | 35,400 | 35,700 | – 100 | 34,800 | 36,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,100 | 34,900 | 35,300 | 0 | 34,100 | 36,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 34,800 | 34,700 | 35,000 | 0 | 35,100 | 36,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,000 | 34,900 | 35,100 | + 300 | 34,400 | 35,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 32,500 | 32,400 | 33,000 | – 100 | 32,500 | 34,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,300 | 32,100 | 32,500 | 0 | 32,100 | 33,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply