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Daily Update: Indian Steel Market 2 Sep'19

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By
BigMint Bureau
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2 Sep 2019, 18:19 IST
Daily Update: Indian Steel Market 2 Sep'19

Indian spot steel trades remained limited as prices drop by INR 100-200/MT on day trade activities. As per industry participants, buyers are cautious to take positions owing to festive mood along with volatile trends since few days.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,400-29,300/MT (USD 366-407) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,300-18,100/MT (USD 226-251); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 2nd September 2019 (Monday) INR to USD exchange rate stood at INR 71.94.

-- ICEX (Indian Commodity Exchange Ltd) Oct'19 contract for STEELLONG today open at INR 28,330/MT & last traded (IST 18:15 hrs) at INR 28,160/MT.

Raw Materials

-- An east India based pellet maker has concluded pellet export deal to China for 50,000 MT pellet (Fe 64%, and 3% Al) at around USD 108/MT, CFR China-Sources.

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 156.25/MT FoB Australia & USD 173.25/MT CNF India.

-- South African RB2 (5500 NAR) coal offers are assessed at USD 47.62/MT on FoB basis & USD 65.42/MT CNF India.

-- Melting scrap offers in Western India- Gujarat decline by INR 200/MT in a day trade activities.

Semi Finished

-- Mesco steels in Jajpur, Odisha has roll-over pig iron offers and reported steel grade material at INR 22,800-23,000/MT ex-plant.

-- Mid sized mills export offers to Nepal slightly drop and assessed at around USD 365/MT for Billet (100*100 mm) & USD 415/MT for Wire rod (5.5 mm) ex-mill at Durgapur, Eastern India.

-- Stockiest in Central India are trading steel grade pig iron at around INR 23,600/MT FoR Raigarh & INR 23,900-24,000/MT FoR Raipur, excluding 18% GST.

-- Raipur based manufacturers reduced sponge offer by INR 100-200/MT and reported P-DRI at INR 16,000-16,200/MT & DR-CLO at INR 18,400-18,600/MT ex-plant. However trades remained weak despite slump in prices range, as per trade sources.

-- Raigarh based Singhal Steel offered P-DRI at INR 15,500/MT & Billet at INR 26,500/MT ex-Raigarh, officials reported.

-- Central India, Raigarh based sponge manufacturer (900 TPD) has offered Pellet sponge at INR 16,000-16,100/MT FoR Raipur.

-- Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 17,200/MT - Sources.

-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 16,300-16,500/MT ex-plant & excluding GST.

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod increased by re-sellers at INR 1,700-1,900/MT, while through the plants end it unaltered at INR 1,000/MT. Meanwhile, base price of 5.5 mm wire rod stood at INR 31,800/MT ex-Raipur & INR 30,400-30,800/MT ex-Durgapur.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 34,500/MT ex-plant & excluding GST.

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 31,800/MT ex-plant & excluding GST.

Rebar (12 mm)

-- Rathi Steels based in North region current offering around INR 33,700/MT.

-- Raipur based Shree Nakoda Ispat Ltd. (Nakoda TMT) is current offering at INR 32,800/MT.

-- Raipur based Real Ispat (GK TMT) is current offering at INR 32,900/MT

-- Raigarh based Scan Group branding (Shrishti TMT) is current offering at INR 31,000/MT.

-- Gujarat based Diamond TMT is current offering at INR 32,300/MT.

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 31,900/MT (down by INR 200/MT).

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) is current offering at INR 31,900/MT.

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

Reference prices as on 2nd September 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 21,100 21,000 21,200 - 200 21,800 21,900
Ex-Mumbai HMS(80:20) 21,600 21,600 21,800   0 21,500 21,100
Ex-Chennai HMS(80:20) 20,400 20,300 20,600   0 20,400 20,300
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 18,100 18,000 18,200   0 17,200 16,300
Ex-Rourkela Mix, FeM 80%, +/-1 16,350 16,300 16,500 - 150 16,200 16,300
Ex-Raipur Mix, FeM 80%, +/-1 17,400 17,300 17,500   0 17,000 16,900
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 17,100 17,000 17,200   0 16,200 15,300
Ex-Raipur Lumps, FeM 80%, +/-1 16,050 16,000 16,200 - 50 15,750 15,950
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 29,150 29,100 29,200 - 250 28,900 27,800
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,700 26,600 26,800   0 25,800 25,400
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 26,000 25,900 26,100 + 100 25,300 25,000
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,300 26,200 26,400 - 200 25,800 25,400
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,300 29,200 29,400 - 200 29,000 27,900
Ex-Durgapur 100x100 mm, IS 2831 27,000 26,900 27,100 - 100 26,200 25,700
Ex-Rourkela 100x100 mm, IS 2831 26,400 26,300 26,500   0 25,700 25,300
Ex-Raipur 100x100 mm, IS 2831 26,900 26,800 27,000 - 200 26,400 25,750
Ex-Ahmedabad 100x100 mm, IS 2831 27,750 27,700 27,800 - 50 28,200 27,700
Ex-Jalna 100x100 mm, IS 2831 27,900 27,800 28,000   0 27,900 27,400
Ex-Chennai 100x100 mm, IS 2831 28,000 27,900 28,100 - 100 28,200 29,000
Ex-Hyderabad 100x100 mm, IS 2831 27,000 26,900 27,100   0 26,500 27,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 32,800 32,700 33,000 - 100 32,700 33,100
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 31,100 30,900 31,300 - 200 30,400 29,800
Ex-Rourkela 12-25 MM, IS 1786- 500 Fe 30,500 30,400 30,700   0 29,800 29,600
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 30,400 30,300 30,600 - 100 29,700 29,100
Ex-Jalna 12-25 MM, IS 1786- 500 Fe 31,700 31,500 31,900 - 100 31,100 30,900
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 32,200 32,100 32,400   0 32,300 33,200
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 31,000 30,900 31,200   0 30,500 31,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 30,500 30,400 30,800 - 200 30,000 29,700
Ex-Raipur Wire Rod(5.5 MM) 30,600 30,000 31,800   0 29,900 29,800

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

2 Sep 2019, 18:19 IST

 

 

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