Daily Update: Indian Semis Market Shows Mix Trend
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Indian spot steel trades were limited, hence the prices slightly fluctuated by INR 100-300/MT of Rebar, Billet & Sponge iron across regions.
Participants stated that, trades are likely to remain weak due to festive mood in the country amid Eid celebration. Markets in southern and eastern India reported comparatively less trades amid holidays.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,600-34,600/MT (USD 442-500) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,600-19,500/MT (USD 268-282); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 4th June 2019 (Tuesday) INR to USD exchange rate stood at INR 69.25.
-- ICEX (Indian Commodity Exchange Ltd) Jul'19 contract for STEELLONG today open at INR 33,760/MT & last traded (IST 18:17) at INR 33,560/MT.
-- BSE Sensex closed at 40,083(-184) on Tuesday, as against last day (Monday) at 40,267(+553).
-- NSE Nifty50 index was closed today at 12,021(-66) & Nifty Metal at 2,956(+5).
Raw Materials
-- Indian iron ore export volumes increased by 45% to 2.05 MnT in May'19 as against 1.42 MnT in Apr'19.
-- Rungta stood largest iron ore exporter in May'19 at 0.56 MnT, up significantly as against 0.12 MnT in Apr'19.
-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 315/MT, CFR Nhava Sheva.
-- Silico Manganese offers for 60-14 grade are at INR 65,500/MT ex-Raipur and INR 67,000-67,200/MT ex-Durgapur.
Semi Finished
-- Rashtriya Ispat Nigam Limited (RINL) has invited a tender for export of 30,000 MT Billets and 20,000 MT Bloom.Interested bidders can submit their bids till 11 June '19 at 15:00 hrs.
-- Neo Metaliks in Durgapur has reported weak demand at the offers of steel grade pig iron at INR 28,200-28,300/MT ex-plant.
-- As per officials from Atibir Industries in Giridih - Jharkhand, more than 2,000 MT steel grade pig iron have sold to Durgapur at around INR 28,500/MT FoR & excluding 18% GST.
-- Raipur based plants have offered Sponge P-DRI at INR 18,200-18,300/MT, however limited deals reported at this offers as healthy bookings made last day (3rd Jun) in the range of INR 18,000-18,200/MT ex-plant.
-- Rashmi Metaliks in Durgapur (Kharagapur) has roll-over prices for Sponge P-DRI at INR 18,500/MT & Wire rod (5.5 mm) at around INR 36,600-36,700/MT, as reported by participants.
-- Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 19,600/MT & Sponge mix material (60:40) at INR 19,300/MT ex-plant.
-- Shri Hari Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 18,700-18,800/MT ex-plant. However as per participants no major buyers at this prices.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,700/MT ex-Bellary, an official reported.
-- BIOP Steels in South India has decreased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,100/MT & INR 19,500/MT ex-plant, Karnataka; an official reported.
-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 18,500-18,700/MT ex-plant, an official reported.
Wire Rod & Pipe
-- Trade discounts in Raipur Wire rod unaltered at INR 1,400-1,600/MT as base prices reduced by INR 200/MT to INR 37,500/MT ex-plant. However in Durgapur base prices more or less firm at INR 36,200-37,000/MT ex-plant.
-- East region based Wire Rod manufacturer - Adhunik Alloys & Pvt Ltd is offering Wire Rod at INR 36,800/MT.
-- Raipur, Central India based ERW pipe manufacturers have reported offers at around INR 38,000/MT ex-plant & excluding GST. Offers up by INR 200/MT D-o-D.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,100/MT ex-plant & excluding GST.
Rebar (12 mm)
-- Raipur based - SPEED TMT has unchanged their offers at INR 35,300/MT.
-- Real Ispat (GK TMT) has unaltered their offers at INR 37,800/MT.
-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 35,500/MT (down by INR 200/MT).
-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 35,700/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 36,900/MT FoR.
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 36,100/MT (down by INR 300/MT).
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT is offering at INR 36,100/MT (down by INR 200/MT).
-- Goa based Kamdhenu TMT is offering at INR 38,100/MT (down by INR 200/MT).
-- East region based - Shakambhari Ispat & Power Ltd. is offering Wire Rod 5.5 mm at INR 37,200/MT and TMT at INR 36,800/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 4th June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,700 | 25,600 | 25,800 | 0 | 25,500 | 26,000 |
| Ex-Mumbai | HMS(80:20) | 24,800 | 24,700 | 24,900 | 0 | 24,800 | 25,300 | |
| Ex-Chennai | HMS(80:20) | 23,400 | 23,300 | 23,500 | - 200 | 23,600 | 23,900 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 19,500 | 19,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,650 | 18,600 | 18,700 | + 50 | 18,750 | 18,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 19,700 | 19,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,000 | 0 | 19,000 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,500 | 18,400 | 18,600 | 0 | 18,300 | 17,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,200 | 18,100 | 18,300 | - 100 | 18,600 | 18,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | 0 | 18,800 | 18,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | 19,400 | 19,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | + 50 | 33,700 | 34,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,000 | 31,200 | - 100 | 31,100 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,150 | 30,100 | 30,200 | + 50 | 30,100 | 30,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | 0 | 30,700 | 30,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | 0 | 31,700 | 33,000 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 34,600 | 34,500 | 34,700 | - 100 | 34,100 | 34,500 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | - 200 | 31,500 | 31,600 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 30,600 | 30,500 | 30,700 | 0 | 30,600 | 31,000 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 31,100 | 31,000 | 31,200 | - 50 | 31,200 | 31,500 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 32,700 | 32,600 | 32,800 | + 300 | 32,150 | 32,400 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 31,700 | 31,600 | 31,800 | 0 | 32,000 | 33,300 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 31,600 | 31,500 | 31,700 | - 100 | 31,900 | 32,000 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | 0 | 31,700 | 32,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,400 | 37,200 | 37,600 | 0 | 37,200 | 37,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,100 | 36,500 | - 300 | 36,600 | 36,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,100 | 35,000 | 35,200 | 0 | 35,200 | 35,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 34,800 | 34,700 | 35,000 | - 200 | 35,000 | 36,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,500 | 36,400 | 36,700 | - 100 | 36,700 | 37,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,300 | 35,700 | 0 | 35,700 | 35,800 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,500 | 36,200 | 37,000 | - 200 | 36,800 | 37,300 |
| Ex-Raipur | Wire Rod(5.5 MM) | 36,700 | 35,900 | 37,500 | - 200 | 36,500 | 37,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
