Daily Update: Indian Semis Market Shows Mix Trend
...
Indian Billet prices remain slightly fluctuates by INR 100-200/MT on average trade activities. However improved supply & bearish demand leads to price fall in Sponge iron by INR 100-300/MT, day-on-day.
As per sources report, today the production of Ingot/Billet in Punjipathra (Raigarh), Central India has decreased by about 40-50% due to temporary reduction in power supply by Jindal. JPL (Jindal Power Limited) is the key source of Power to the Industries based in Raigarh.
There are about 25-28 induction furnaces in the Punjipatra industrial park, which produces approx 70,000-80,000 MT ingot/billet per month and caters primarily to North India.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 32,700-36,800/MT (USD 454-512) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,600-23,200/MT (USD 300-323); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 15th November 2018 (Thursday) INR to USD exchange rate stood at INR 71.94.
-- BSE Sensex closed at 35,260(+118) on Thursday, as against last day (Wednesday) at 35,141(-2).
-- NSE Nifty50 index was closed today at 10,616(+40).
Raw Materials
-- Essar Steel procured 0.57 MnT of iron ore in Oct'18 from NMDC's Bailadila mines in Chhattisgarh via slurry pipeline, up 38% against procurement in Sep'18 at 0.41 MnT.
-- Coking Coal prices for Premium HCC grade is at USD 238/MT CIF India; imports up 40% in Oct'18 against Sep'18.
-- South African RB2 (5500 NAR) coal offers are assessed at USD 68/MT on FoB basis & USD 83/MT CNF India.
Semi Finished
-- RINL had invited two tenders for export of 15,000 MT Blooms (150*150mm) each, whose due date was 08 Nov'18 has been finalised at around USD 457-460/MT, FoB India - Sources.
-- Indian medium mills export offers to Nepal hovering at USD 460-465/MT for Billet & USD 545-550/MT for Wire rod (5.5 mm) ex-mill at Durgapur.
-- Raipur, Central India based Integrated plants offers decreased by INR 100/MT, offering Sponge P-DRI at INR 20,800-21,000/MT & Sponge DR CLO grade at INR 23,200-23,400/MT ex-plant.
-- Rashmi Metaliks in Durgapur has reduced sponge prices by around INR 200-300/MT and today offers for P-DRI heard at around INR 22,200-22,300/MT - Sources.
-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 21,800-22,000/MT ex-plant & excluding GST.
-- Sources reported a day before, Odisha (East India) based furnace owners sold good quantity of Billet to Hyderabad (South India) at INR 32,800/MT ex-plant.
-- BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered and reported FeM 80 P-DRI lumps at INR 21,000/MT ex-Bellary.
-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 21,800/MT & INR 22,300/MT ex-plant, Karnataka; an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 22,200-22,300/MT & Billet at INR 33,700-33,800/MT ex-plant.
Wire rod & Pipe
-- Raipur based wire rod manufacturers have reduced offer by INR 300/MT and offers for 5.5 mm evaluated at INR 39,900/MT. Meanwhile, offers for same material in Durgapur hovering at INR 39,600-39,800/MT.
-- Raipur based wire rod suppliers have maintained trade discount and today's discount at around INR 800-1,100/MT.
-- Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has kept offers unaltered for ERW Pipe at INR 42,000/MT basic.
-- Few Hyderabad (South India) based trade sources reported, they have concluded ERW Pipe deals at INR 41,700/MT ex-plant.
Rebar (12 mm)
-- Rathi Steels based in North region unchanged their offers at INR 40,300/MT.
-- Raipur based - SPEED TMT unchanged their offers at INR 36,400/MT.
-- West region based Bhagwati Ferro Metal (P) Ltd offering at INR 37,900/MT, down by INR 200/MT.
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offers at INR 37,700/MT.
-- Chennai based ARS Steel (Trusteel) unchanged their offers at INR 42,100/MT.
-- East region based - Baba Smelter Pvt. Ltd has unchanged their Structure (125,150 Channel) offer at INR 40,250/MT.
Note - the prices mentioned above are ex-works, excluding GST & changes are placed on day basis.
Reference prices as on 15th November 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,300 | 27,200 | 27,400 | - 200 | 27,100 | 27,400 |
| Ex-Mumbai | HMS(80:20) | 26,300 | 26,200 | 26,400 | + 100 | 25,700 | NA | |
| Ex-Chennai | HMS(80:20) | 26,800 | 26,700 | 27,000 | 0 | NA | NA | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,200 | 23,100 | 23,300 | - 300 | 23,400 | NA |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | - 100 | 22,200 | NA | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,700 | 22,600 | 22,800 | - 100 | 22,900 | 23,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | - 100 | 21,600 | 22,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,200 | 22,100 | 22,300 | - 200 | 22,300 | NA |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | - 100 | 21,100 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | - 100 | 20,800 | 21,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | 0 | 21,700 | 21,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,950 | 35,900 | 36,000 | + 150 | 36,300 | 36,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,400 | - 100 | 33,800 | NA | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,400 | 32,300 | 32,400 | + 100 | 32,800 | NA | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,650 | 32,600 | 32,700 | - 50 | 33,100 | 33,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | - 300 | 33,800 | NA | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 36,750 | 36,700 | 36,800 | + 150 | 37,100 | 37,200 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 33,600 | 33,500 | 33,700 | - 100 | 34,000 | NA | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 32,900 | 32,800 | 33,000 | + 100 | 33,200 | NA | |
| Ex-Raipur | 125x125 mm, IS 2831 | 33,250 | 33,200 | 33,300 | - 50 | 33,700 | 34,300 | |
| Ex-Ahmedabad | 125x125 mm, IS 2831 | 34,750 | 34,700 | 34,800 | + 100 | 34,600 | 35,200 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 34,100 | 34,000 | 34,200 | - 200 | 34,100 | NA | |
| Ex-Chennai | 125x125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | - 100 | 35,000 | NA | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | 0 | 34,500 | 35,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,900 | 38,700 | 39,100 | - 200 | 39,100 | 39,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | 0 | 39,500 | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,300 | 36,500 | 0 | 36,400 | 37,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,500 | 37,900 | - 200 | 37,600 | NA | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,400 | 39,200 | 39,600 | - 100 | NA | 40,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | 0 | 38,500 | 39,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 39,800 | 39,600 | 40,000 | 0 | 39,900 | 40,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 40,200 | 39,200 | 40,200 | 0 | 40,200 | 40,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
