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Daily Update: Indian Steel Market 18 Nov'19

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BigMint Bureau
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18 Nov 2019, 18:51 IST
Daily Update: Indian Steel Market 18 Nov'19

Indian sponge iron & billet prices drop further owing to limited spot trades and as per daily assessment it fell by INR 100-500/MT (upto USD 7).

The billet prices declined majorly in western & southern India by INR 500-600/MT. In line with this, sponge iron prices drifted down by INR 100-200/MT in major locations.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,650-28,800/MT (USD 357-401) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was INR 16,400-17,900/MT (USD 228-249); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 18th November 2019 (Monday) INR to USD exchange rate stood at INR 71.79

-- ICEX (Indian Commodity Exchange Ltd) Dec'19 contract for STEELLONG today open at INR 28,260/MT & last traded (IST 18:58 hrs) at INR 27,850/MT.

-- BSE Sensex closed at 40,284(-72.50) on Monday, as against last day (Friday) at 40,356(+70).

-- NSE Nifty50 index was closed today at 11,884.5(-10.95) & Nifty Metal at 2,539(+40.85).

KEY TRADES

-- JSW Steel- India's second largest private steel maker total iron ore sourcing recorded at 2.33 MnT in Oct'19 and witnessed 76% rise M-o-M against 1.33 MnT in Sep'19.

-- Silicon Manganese(60-14) prices remained firm in Central India at around INR 56,000/MT ex-Raipur.

-- Steel Authority of India Ltd (SAIL) - a govt. owned steel producer conducted auction for around 6,100 MT steel grade pig iron today from its Rourkela Steel plant (eastern India). The auction received weak response as entire offered quantity remained unsold.

-- Tata Steel announced that its step-down subsidiary NatSteel Holdings Pte (NSH)has concluded sale of equity sales in NatSteel Vina (NSV) to a Vietnam based-steel making company Thai Hung Trading Joint Stock Company.

-- Mesco Steels in Jajpur, Odisha has traded steel grade pig iron at around INR 22,900- 23,000/MT ex-plant, as per sources.

-- Raipur based sponge P-DRI manufacturers have kept their offers firm at INR 16,400-16,500/MT ex-plant, however no major deals due to competitive offers from Raigarh at INR 16,300-16,400/MT on FoR basis.

-- Rashmi Metaliks in Durgapur has unchnaged sponge P-DRI prices at INR 17,000/MT, as per sources.

-- South India's largest private sponge producer - BMM Ispat has maintained P-DRI prices to INR 16,800-16,900/MT ex-Bellary, Karnataka.

REBAR (12 mm)

-- Rathi Steels based in North region is current offering at INR 33,200/MT.

-- Raipur based - SPEED TMT is offering at INR 29,900/MT (down by INR 300/MT).

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 31,500/MT ( down by INR 500/MT).

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 31,500/MT (down by INR 500/MT).

-- Gujarat based, Mono Steel (India) Ltd. (Mono TMT) is offering at INR 32,400/MT FoR. (down by INR 200/MT).

-- South region based Prakash Ferrous Ind. Pvt. Ltd (Tirumala) is current offering at INR 33,000/MT.

WIRE ROD

-- Trade discounts in Raipur wire rod remained almost firm and reported at INR 1,200-1,400/MT by market particpants. Also base prices drop by INR 200/MT to INR 30,300-30,500/MT ex-Durgapur & offers maintained to INR 31,300/MT ex-Raipur.

Reference prices as on 18th November 2019.

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22100 22000 22200 - 100 22400 21400
Ex-Mumbai HMS(80:20) 21500 21400 21600 - 100 21900 20700
Ex-Chennai HMS(80:20) 20400 20200 20500 + 100 20100 19200
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17900 17800 18000 - 100 18300 16900
Ex-Rourkela Mix, FeM 80%, +/-1 16600 16500 16700 - 150 16800 16300
Ex-Raipur 0-20 mm, -1 mm (20-25%), FeM 82%, +/-1 18300 18200 18400 - 200 18800 17700
Ex-Bellary Lumps, FeM 80%, +/-1 16700 16600 16800 - 50 16800 16400
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16900 16800 17000 - 100 17300 15700
Ex-Raipur Lumps, FeM 80%, +/-1 16400 16300 16500 - 150 16800 15600
Ex-Bellary Lumps, FeM 80%, +/-1 16550 16500 16600 - 50 16600 16100
Ex-Hyderabad Lumps, FeM 80%, +/-1 17000 16900 17100 - 150 17000 16500
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 28350 28300 28400 - 300 29400 28700
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26500 26400 26600 - 50 27000 25800
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25400 25300 25500 - 150 26000 25400
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 25600 25500 25700 - 200 26500 25850
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 27250 27200 27300 - 250 28050 27900
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 28800 28700 28900 - 200 29750 28900
Ex-Durgapur 100x100 mm, IS 2831 26800 26700 26900 - 50 27300 26100
Ex-Rourkela 100x100 mm, IS 2831 25650 25600 25700 - 200 26250 25800
Ex-Raipur 100x100 mm, IS 2831 25850 25800 25900 - 200 26850 26200
Ex-Ahmedabad 100x100 mm, IS 2831 28000 28000 28200 - 400 28650 27850
Ex-Mumbai 100x100 mm, IS 2831 27450 27400 27500 - 250 28250 28200
Ex-Chennai 100x100 mm, IS 2831 28000 27900 28100   0 27900 27000
Ex-Hyderabad 100x100 mm, IS 2831 27500 27400 27600 - 500 28000 26500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32300 32100 32500 - 500 33000 32300
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 31000 30800 31200   0 31400 30400
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 30000 29900 30200 - 200 30800 30700
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 29700 29500 29800 - 300 30200 30100
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31200 31000 31300 - 300 31800 31100
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 31100 30900 31300 - 300 31800 31400
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 31700 31600 31900 - 100 31400 31000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 31000 30900 31100 - 500 31500 30000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 30500 30300 31000 - 200 31400 29900
Ex-Raipur Wire Rod(5.5 MM) 30300 29900 31300   0 30800 30600

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

18 Nov 2019, 18:51 IST

 

 

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