Go to List

Daily Trade Updates of Indian Steel Market

...

Semi Finished
By
BigMint Bureau
1074 Reads
19 Dec 2018, 18:12 IST
Daily Trade Updates of Indian Steel Market

Indian Steel prices today reported fall of INR 100-400/MT (upto USD 6) through the mid size mills over limited spot trades.

As per daily assessment, the Sponge iron prices fall by INR 100-200/MT, Billet by INR 200-400/MT & Rebar by INR 100-300/MT, day-on-day.

It seems that, demand has reduced owing to recent price corrections in raw materials & Pig iron, this has made bearish trends among trade participants.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,600-34,100/MT (USD 434-484) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,300-21,600/MT (USD 288-306); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 19th December 2018 (Wednesday) INR to USD exchange rate stood at INR 70.3

-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 33,700/MT & last traded (IST 18:10) at INR 33,660/MT.

-- BSE Sensex closed at 36,484(+137) on Wednesday, as against last day (Tuesday) at 36,347(+77).

-- NSE Nifty50 index was close today at 10,967(+58).

Raw materials

-- Odisha’s major merchant miner �" Essel Mining has announced another price cut in iron ore by INR 400/MT (USD 5.6) in lump and INR 300/MT (USD 4) in fines w.e.f (17 Dec’18). This is for the third time in a month that they have reduced iron ore prices. Prior to this they had slashed offers on 18th Nov and 27th Nov’18.

-- Australian Seaborne premium hard coking coal prices slipped as Chinese steel margins decline. Latest prices for the Premium HCC grade for Indian buyers assessed at USD 240.90/MT, CNF.

-- East India based pellet maker-Brahmani River Pellets concluded 60,000 MT pellet export deals to Indonesia last week, the vessel “Oriental Angel” is expected to arrive at Indian port for loading on 21st Dec’18. The deal has been concluded at USD 110/MT, CFR Indonesia for Dec shipment, sources shared.

Semi-finished

-- As per Ingot manufacturers, Sponge C-DRI prices in North India - Mandi Gobindgarh & Ludhiana hovering at INR 23,800-24,000/MT, FeM 79-80 & lumps grade.

-- Indian sponge iron export offers increased to USD 350-355/MT as against last week assessment at USD 345-350/MT CFR Chittagong, Bangladesh.

-- The major sponge suppliers in Durgapur have reduced prices by INR 200-300/MT and reported P-DRI at INR 19,500/MT.

-- Sponge iron prices through the Integrated plants in Raipur slump by INR 100-200/MT and offers hovering at INR 20,100-20,200/MT ex-plant.

-- Electrosteels has offered Steel grade Pig iron at INR 28,600-28,700/MT ex-plant & around INR 29,200/MT FoR Durgapur, excluding GST.

-- As per trade participants, Pig iron prices in Durgapur to come down with price reductions through the NINL by INR 600/MT. The private producers in Durgapur offering Steel grade material at INR 29,300-29,500/MT and landed cost of NINL's pig iron calculated at around INR 29,000/MT, excluding GST.

-- MMTC- India’s largest and state owned trading house, has floated export tender of 30,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL). The due date for submission of bids is 14:30 hrs on 08 Jan’19.

-- The mid size mills in Durgapur have concludes small lots of export deals to Nepal for Billet at around USD 442-443/MT & Wire rod at 527-530/MT (ex-mill), as per trade sources.

Finish Long

-- Raipur based wire rod manufacturers kept offers unchanged and trade discount through the manufacturers/suppliers slightly increased to around INR 700-1,000/MT. The offers for 5.5mm wire rod is hovering around INR 38,800/MT ex-Raipur & INR 37,300-37,600/MT ex-Durgapur.

-- Rashmi Metaliks offers reduced in wire rod and reported at INR 37,300/MT (5.5mm) ex-Kharagpur, Eastern India.

-- The light size structure manufacturers in Raipur reduced prices by INR 300/MT and offers for 55 Angle (basic size) stood at INR 32,300-32,500/MT. Meanwhile the heavy structure makers have increased trade discount to INR 600-800/MT as against last day at INR 600/MT & offers for 150 Beam((basic size)) stood at around INR 39,300/MT ex-plant.

Reference prices as on 19th December 2018

Products Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,800 26,700 26,900 -200 26,200 27,500
Ex-Mumbai HMS(80:20) 25,500 25,500 25,700 -200 26,000 26,500
Ex-Chennai HMS(80:20) 24,100 24,000 24,300 -200 24,900 26,200
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,700 20,600 20,800 -200 20,250 22,700
Ex-Rourkela Mix, FeM 80%, +/-1 20,300 20,200 20,400 -100 20,400 21,800
Ex-Raipur Mix, FeM 80%, +/-1 21,600 21,500 21,700 - 100 21,600 22,500
Ex-Bellary Lumps, FeM 80%, +/-1 20,300 20,200 20,400 -100 20,500 21,100
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,500 19,400 19,600 -200 19,250 21,700
Ex-Raipur Lumps, FeM 80%, +/-1 20,000 20,000 20,100 -250 20,000 20,950
Ex-Bellary Lumps, FeM 80%, +/-1 19,800 19,700 20,000 - 100 20,000 20,400
Ex-Hyderabad Lumps, FeM 80%, +/-1 20,700 20,600 20,700 -200 20,700 21,000
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 33,950 33,900 34,000 -350 33,700 35,300
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 30,900 30,800 31,000 -300 30,300 32,700
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,300 30,200 30,400 -200 29,900 32,000
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,800 30,700 30,900 -300 30,000 32,400
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 33,700 33,700 33,800 -300 32,400 33,700
Billet Ex-Mandi Gobindgarh 125x125 mm, IS 2831 34,100 34,000 34,200 -400 34,000 35,900
Ex-Durgapur 125x125 mm, IS 2831 31,300 31,200 31,400 -300 30,800 33,000
Ex-Rourkela 125x125 mm, IS 2831 30,600 30,500 30,700 -200 30,250 32,400
Ex-Raipur 125x125 mm, IS 2831 31,600 31,500 31,700 -400 30,750 32,850
Ex-Ahmedabad 125x125 mm, IS 2831 33,900 33,800 34,000 -200 33,100 34,700
Ex-Mumbai 125x125 mm, IS 2831 33,900 33,900 34,000 -300 32,600 34,000
Ex-Chennai 125x125 mm, IS 2831 33,500 33,400 33,600 0 33,500 34,500
Ex-Hyderabad 125x125 mm, IS 2831 33,000 32,900 33,100   0 32,300 34,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,900 37,700 38,100 0 37,200 38,900
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 36,300 36,100 36,500 -200 36,300 38,500
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 35,800 35,700 36,000 -100 34,900 36,100
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 37,200 36,900 37,400 0 35,900 37,300
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 37,700 37,600 37,900 -100 37,700 39,000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 37,000 36,700 37,000 -200 36,700 38,000

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

19 Dec 2018, 18:12 IST

 

 

You have 1 complimentary insights remaining! Stay informed with BigMint
Login Buy Now
Related Insights
;