Daily Update: Indian Semis Market Shows Mix Trend
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Today, Domestic Sponge iron offers rise by INR 100-300/MT & Billet offers fluctuated by INR 100-500/MT, the trade sentiments showed mix trends.
SteelMint's price assessments for induction furnaces billet size 125x125 mm are reported at INR 31,400-34,900/MT (USD 495-550) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,700-21,600/MT (USD 326-340); prices are ex-plant & excluding GST.
Today (Thursday, January 25, 2018) INR to USD exchange rate stood at INR 63.56 & BSE Sensex closed at 36,050 (-111).
Key Market Updates:
1. Coking coal prices fall from USD 236/MT to USD 215/MT in global market on improved supply from Australia
2. Raipur, Central India based Integrated plants offer unaltered D-o-D, offering Sponge P-DRI at INR 20,200-20,400/MT ex-plant
3. According to sources in Durgapur, Rashmi Metaliks has kept offers unaltered to INR 20,500-20,600/MT for FeM 78 P-DRI.
4. A day before, Monnet Ispat sold 400-500 ton P-DRI & C-DRI at INR 19,700/MT & INR 20,700/MT ex-plant, Raigarh, an official reported.
5. Singhal Steel offered P-DRI at INR 19,700-19,800/MT ex-plant (Raigarh), an official reported. Also offering billet at 32,600/MT FoR Raipur.
6. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,000-21,100/MT & billet at INR 31,200/MT ex-plant.
7. BIOP in South India has increased sponge offers by around INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 21,100/MT & INR 21,500/MT ex-plant, Karnataka; an official reported.
8. South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 21,000/MT & INR 34,500/MT. Also offering 28 MM Rebar at INR 35,500/MT. Prices are ex-plant & excluding GST.
9. Kalika Steel Alloys in Jalna has offered 28mm rebars at INR 36,400/MT, the offers are stable compared to last day trade.
10. Prakash Ferrous Industries Pvt. Ltd (Tirumala) based in Chennai has offered Rebar 12mm at INR 40,000/MT ex-plant & excluding GST
11. Raipur, Central India based Wire Rod manufacturers have reduced their discount to INR 1,200-1,300/MT from INR 1,500/MT and the current offer of 5.5 mm Wire rod are reported at INR 38,200/MT, ex-plant & excluding GST.
Reference prices as on 25th January 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,600 | 21,500 | 21,600 | + 100 | 22,000 | 21,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | + 100 | 21,000 | 20,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | 0 | 22,100 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 100 | 21,700 | 20,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,100 | 21,000 | 21,200 | + 200 | NA | NA | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,600 | 20,500 | 20,600 | + 100 | 20,900 | 20,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | 0 | 20,700 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | + 200 | 20,600 | 19,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 300 | 21,200 | 20,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | - 50 | 33,500 | 32,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | 0 | 31,800 | 30,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,000 | + 300 | 31,000 | 30,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,700 | 31,600 | 31,800 | + 100 | 31,700 | 30,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | + 100 | 34,500 | 33,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | - 200 | 34,500 | 32,700 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,000 | 34,500 | + 500 | 35,000 | 33,500 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 34,700 | 34,700 | 34,800 | - 100 | 34,400 | 33,000 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 31,800 | 31,700 | 31,900 | 0 | 32,200 | 31,300 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 31,500 | 31,400 | 31,600 | + 200 | 31,700 | 31,000 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 32,500 | 32,400 | 32,500 | 0 | 32,700 | 31,600 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | + 100 | 34,700 | 33,500 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | - 300 | 35,000 | 33,300 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 34,500 | 34,000 | 34,500 | + 500 | 35,000 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,200 | 38,000 | 38,400 | - 200 | NA | 38,700 |
| Ex-Durgapur | 12MM | 35,900 | 35,700 | 36,100 | + 100 | 36,200 | 34,900 | |
| Ex-Raipur | 12MM | 36,200 | 36,000 | 36,400 | + 200 | 36,400 | 35,400 | |
| Ex-Mumbai | 12MM | 39,300 | 38,900 | 39,400 | 0 | 39,300 | 37,500 | |
| Ex-Chennai | 12MM | 39,500 | 39,400 | 39,700 | + 250 | 39,250 | 36,800 | |
| Ex-Hyderabad | 12MM | 37,700 | 37,200 | 37,700 | + 500 | 38,200 | 36,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
