Daily Update: Indian Semis Market Shows Mix Trend
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Indian spot steel trades observed dull today amid limited inquiries with the producers. However, despite fewer trades the prices of Billet have marginally fluctuates by INR 200-500/MT day on day, while Sponge iron offer remains firm.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 31,100-34,500/MT (USD 437-485) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,300-20,700/MT (USD 271-291); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 28th January 2019 (Monday) INR to USD exchange rate stood at INR 71.12.
-- ICEX (Indian Commodity Exchange Ltd) Feb'19 contract for STEELLONG today open at INR 33,360/MT & last traded (IST 18:31) at INR 33,350/MT.
-- BSE Sensex closed at 35,656(-368) on Monday, as against last day (Friday) at 36,025(-169).
-- NSE Nifty50 index was closed today at 10,661(-119).
Raw Materials
-- According to world steel association (WSA) Indian crude steel production registered a growth of 5% at 106.46 MnT in CY18 against 101.45 MnT in preceding year.
-- IDCOL has issued three different tender for sale of around 59,400 MT iron ore from its Roida 'C' iron and manganese mines, Keonjhar (Odisha). The due date for bid submission is 1 Feb'19.
Semi Finished
-- Private pig iron producers in eastern India reported better response. Latest offers for Steel grade assessed at INR 26,700-26,800/MT ex-plant, Bokaro by Electrosteels Ltd & INR 27,300/MT ex-plant, Durgapur by Neo Metaliks.
-- As per sources, Neelachal Ispat (NINL) received booking of close to 15,000-20,000 MT of steel grade pig iron at the recent offer price of INR 26,500-26,900/MT ex-plant, Odisha.
-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,900-19,100/MT & Sponge DR CLO grade at INR 21,300-21,500/MT ex-plant.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,400/MT & Billet at INR 31,100-31,200/MT ex-plant.
-- Odisha based sponge manufacturer sold FeM 80 C-DRI lumps to Jalna (Maharashtra) at INR 21,800/MT FoR Jalna.
-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,300/MT & INR 19,600/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
-- Blast furnace grade Wire rod (5.5-6.0 mm) offers in Jharkhand hovering at close to INR 41,500-42,000/MT ex-plant.
-- Raipur based wire rod manufacturers keep prices unchanged and trade discount through the manufacturers/suppliers is around INR 800-900/MT. The offers for 5.5mm wire rod is hovering around INR 38,100/MT ex-Raipur & INR 37,000/MT ex-Durgapur.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers increased prices by INR 200/MT & offers reported at around INR 40,400/MT ex-plant & excluding GST.
-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 38,900/MT ex-plant. (basic & excluding GST).
Rebar (12mm)
-- Rathi Steels based in North region offering at INR 38,300/MT (Down by INR 300/MT).
-- Raipur based - SPEED TMT offering at INR 35,200/MT (Down by INR 100/MT).
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) unchanged their offering at INR 38,400/MT FoR.
-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) increased their offering today by INR 200/MT to INR 36,800/MT.
-- Mumbai based Guardian Castings Pvt. Ltd. (Guardian TMT) offering at INR 37,100/MT (Up by INR 300/MT).
-- Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) offering at INR 37,300/MT (Up by INR 400/MT).
-- Chennai based Shakti Ferro Alloys, (SSI TMT) unchanged their offering at INR 37,000/MT.
-- South region based Prakash Ferrous Ind. Pvt. Ltd (Tirumala) unchanged their offering at INR 38,500/MT.
-- South region based - VRKP Steel Industry Pvt. Ltd. - (VRKP TMT) offering at INR 37,600/MT.
Note - Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 28th January 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,700 | 25,600 | 25,800 | - 100 | 25,700 | 26,500 |
| Ex-Mumbai | HMS(80:20) | 25,200 | 25,100 | 25,300 | + 100 | 24,900 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 24,400 | 24,200 | 24,600 | + 100 | 24,200 | 24,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,700 | 20,600 | 20,800 | + 100 | 19,900 | 21,150 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | 0 | 19,200 | 20,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,000 | 21,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,000 | 19,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,600 | 19,500 | 19,700 | + 100 | 18,700 | 19,950 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,100 | 0 | 18,400 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,800 | 18,700 | 18,900 | 0 | 18,500 | 19,550 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | - 100 | 19,500 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,050 | 34,000 | 34,100 | 0 | 33,400 | 34,350 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | 0 | 30,600 | 31,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,450 | 30,400 | 30,500 | - 50 | 30,000 | 30,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | - 100 | 30,400 | 30,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | + 300 | 32,850 | 33,250 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 50 | 33,800 | 34,650 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 31,800 | 31,700 | 31,900 | 0 | 31,100 | 31,950 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 31,100 | 31,000 | 31,200 | - 100 | 30,400 | 30,900 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | 0 | 31,300 | 31,950 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 33,400 | 33,300 | 33,500 | + 200 | 33,000 | 33,900 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 33,800 | 33,700 | 33,900 | + 300 | 33,050 | 33,450 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 32,700 | 32,500 | 32,900 | + 200 | 32,500 | 33,200 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 32,000 | 31,900 | 32,100 | - 500 | 32,000 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,100 | 37,400 | - 300 | 37,000 | 37,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,100 | 36,500 | 0 | 35,500 | 36,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,000 | 34,900 | 35,100 | 0 | 34,600 | 35,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,600 | 37,100 | + 300 | 36,400 | 36,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,700 | 37,000 | + 200 | 36,600 | 37,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,200 | 36,000 | 36,400 | - 500 | 36,200 | 37,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,000 | 36,800 | 37,200 | - 100 | 36,100 | 38,300 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,100 | 37,200 | 38,100 | 0 | 37,300 | 38,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
