Daily Update: Indian Semis Market Shows Mix Trend
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Today, Indian steel market reported mix trade activities as prices fluctuate slightly amid thin trade volumes, as reported by participants. On day trade activities, the Billet & Sponge iron prices volatile by INR 100-400/MT in major markets.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 33,900-37,700/MT (USD 455-507) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 22,700-24,000/MT (USD 305-323); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 9th October 2018 (Tuesday) INR to USD exchange rate stood at INR 74.39
-- BSE Sensex closed at 34,299(-174) on Tuesday, as against last day (Monday) at 34,474(+97).
-- NSE Nifty50 index was closed today at 10,301(-47).
Raw Materials
-- Durgapur (Eastern India) reference pellet price assessment stands at INR 8,200/MT (delivered) this week against last week INR 8,000/MT.
-- According to sources, a blast is being reported in Gas Pipeline at SAIL's BSP (Bhilai Steel Plant).
Semi Finished
-- Indian induction grade Billet export offers to Nepal hovering at USD 460-465/MT Ex-Mill, Durgapur & loaded to rake, Odisha.
-- Raipur, Central India based Integrated plants have decreased offers by INR 200/MT day-on-day and offering Sponge P-DRI at INR 22,400-22,500/MT ex-plant.
-- Odisha based manufacturer, KJS Ahluwalia offered billet at INR 33,700-33,800/MT ex-plant. And also offering FeM 80 Sponge C-DRI mix material at INR 22,700-22,800/MT ex-plant.
-- BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 22,000/MT ex-Bellary, Karnataka.
-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 22,500/MT & INR 23,000/MT ex-plant, Karnataka; an official reported.
-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 22,500/MT & INR 35,500/MT. Also offering 28 mm rebar at INR 36,500/MT. All prices are ex-plant & excluding GST.
Finish Long
-- South India- RINL (Vizag steel) is offering rebar at INR 44,600/MT (12 mm), ex-Chennai & excluding GST. Sources reported material availability is less and trade being limited.
-- Kalika Steel Alloys in Jalna unchanged their prices d-o-d basis & current offering rebar at INR 36,900/MT (28 mm) ex-plant & excluding GST.
-- Jalna based rebar manufacturer - SRJ Peety Steels Pvt Ltd branding Shree Om TMT slightly increase their (28 mm) rebar prices by INR 200/MT on day basis and current offering at INR 36,900/MT, ex-work & excluding GST.
-- Rathi Steels in North region increased their prices by INR 500/MT on day basis and current offering rebar at INR 41,000/MT (12 mm), excluding GST.
-- Central region, Raipur based brand - SPEED TMT unchanged their prices on day basis and current offering at INR 36,100/MT (28 mm), ex-work & excluding GST.
-- The trade discounts on Wire rod in Raipur more or less unchanged and today's discount at INR 900-1,200/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT increased their prices by INR 200/MT on day basis and current offering rebar at INR 46,400/MT (20 mm) FoR & including GST at 18%.
-- East region based - Baba Smelter Pvt. Ltd has increased their Structure offers by INR 500/MT on day basis & current (125,150 Channel) offering at INR 41,250/MT, ex-work, excluding GST.
-- South India - Chennai based ARS Trusteel reduced their prices by INR 300/MT on day basis & current offering rebar at INR 42,800/MT (12 mm), ex-plant & excluding GST.
Reference prices as on 9th October 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,800 | 27,700 | 27,900 | + 200 | 27,200 | 28,000 |
| Ex-Mumbai | HMS(80:20) | 26,100 | 25,800 | 26,100 | - 200 | 27,000 | 26,800 | |
| Ex-Chennai | HMS(80:20) | 26,600 | 26,600 | 26,900 | 0 | 26,600 | 25,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,900 | 22,800 | 23,000 | + 300 | 22,000 | 24,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,900 | 22,800 | 23,000 | + 100 | 23,000 | 24,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 24,000 | 23,900 | 24,000 | 0 | 24,200 | 26,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,700 | 22,600 | 22,800 | + 100 | 23,500 | 24,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,400 | 21,300 | 21,500 | + 400 | 20,800 | 23,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 22,500 | 22,400 | 22,500 | - 200 | 22,700 | 24,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,100 | 22,000 | 22,200 | + 100 | 22,600 | 23,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 22,600 | 22,500 | 22,700 | 0 | 23,600 | 24,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,900 | 36,800 | 37,000 | 0 | 36,200 | 37,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | + 300 | 33,800 | 36,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,400 | + 200 | 32,800 | 34,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | + 100 | 33,100 | 34,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | + 200 | 35,200 | 36,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | + 200 | 36,500 | 37,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | - 300 | 35,700 | 36,700 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 37,700 | 37,600 | 37,800 | - 100 | 37,000 | 37,900 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 34,600 | 34,500 | 34,700 | + 100 | 34,400 | 36,800 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 33,900 | 33,800 | 34,000 | + 300 | 33,500 | 35,600 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 34,600 | 34,500 | 34,700 | + 100 | 34,000 | 35,400 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | + 200 | 35,400 | 36,500 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | + 200 | 37,000 | 37,500 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | - 300 | 36,000 | 37,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,400 | 39,300 | 39,600 | + 400 | 39,000 | 40,300 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | + 200 | 39,100 | 41,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 38,200 | 38,000 | 38,300 | + 300 | 38,000 | 38,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,900 | 38,500 | 39,000 | 0 | 39,600 | 40,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,400 | 41,300 | 41,600 | 0 | 42,200 | 42,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,700 | - 200 | 39,500 | 40,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
