Daily Update: Indian Semis Offers Decline
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Indian Semi finished steel prices fall marginally over fewer trade inquiries from domestic buyers and as per assessment the price fall is about INR 200-500/MT in Billet & INR 100-200/MT in Sponge iron.
As per participants, lessen spot trades which in turn slight fall in prices on day trade activities. However they believed, Semis prices likely to remain volatile as stability prevails in raw materials.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 33,000-36,600/MT (USD 445-494) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,500-22,900/MT (USD 290-310); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 31st October 2018 (Wednesday) INR to USD exchange rate stood at INR 73.92.
-- BSE Sensex closed at 34,442(+550) on Wednesday, as against last day (Tuesday) at 33,891(-176).
-- NSE Nifty50 index was closed today at 10,386(+188).
Trade Updates
-- Odisha Mining Corporation (OMC) - a state-owned miner is to conduct next e-auction for 295,523 MT iron ore fines and CLO on 04th Nov'18. Out of the total quantity, 294,000 MT is fines and remaining 1,523 MT is CLO.
-- South African RB2 (5500 NAR) coal offers are assessed at USD 72/MT on FoB basis & USD 87/MT CNF India. Prices decline by USD 2/MT on weekly basis.
-- Central India,Raigarh based mill owners reported, 5-6 hours power cut continues by Jindal for Punjipatra region.
-- Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 70,000/MT ex-plant.
-- Vizag Steel's billet export tender of 10,836 MT billet (IS2830 grade, 90*90mm) to Nepal fetches lower bid at around USD 475/MT (ex-mill). However the tender has not been concluded yet and is still under negotiations - Sources.
-- Usha Martin has offered Sponge C-DRI (100% lumps, FeM 80) at around INR 22,200/MT ex-plant, Jharkhand. As per officials, inquiries are mostly from North India and local market.
-- Neo Metaliks in Durgapur has maintained Pig iron prices despite no major trades and reported Steel grade at INR 29,800-30,000/MT ex-plant.
-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 21,300-21,400/MT & Sponge DR CLO grade at INR 23,500-23,700/MT ex-plant
-- Sources reported, few Raipur based furnace owners are buying FeM 80 C-DRI from Odisha (Jharsuguda) at around INR 22,800-23,000/MT on FoR basis.
-- Raigarh based Singhal Steel offered P-DRI at INR 20,500/MT & C-DRI at INR 22,000/MT ex-Raigarh, an official reported. Also, the company offers Billet at INR 33,700/MT FoR Raipur.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 20,600-20,800/MT ex-Bellary, Karnataka.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 22,000/MT & Billet at INR 34,000/MT ex-plant. Majorly deals concluded for Bangalore & Chennai, an official reported.
-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 21,700/MT & INR 34,000/MT. Also offering 28 MM Rebar at INR 35,500/MT. All prices are ex-plant & excluding GST.
-- Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has kept offers unaltered for ERW Pipe at INR 41,800/MT ex-plant. (basic & excluding GST).
-- Raipur based wire rod suppliers kept trade discount unaltered and today's discount at about INR 900-1,000/MT.
-- As per sources, recent a mid size mill in West India concludes Billet export deal to African countries at close to USD 480/MT FoB, qty approx 10,000 MT.
Reference prices as on 31st October 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,900 | 26,800 | 27,000 | + 200 | 27,000 | 27,000 |
| Ex-Mumbai | HMS(80:20) | 25,400 | 25,400 | 25,600 | - 100 | 25,700 | 26,300 | |
| Ex-Chennai | HMS(80:20) | 26,800 | 26,800 | 27,000 | 0 | 26,500 | 26,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,900 | 22,800 | 23,000 | - 200 | 23,200 | 21,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,000 | 22,000 | 22,100 | - 200 | 22,200 | 22,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,800 | 22,700 | 22,900 | - 100 | 23,000 | 23,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | - 100 | 22,000 | 23,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | - 100 | 21,700 | 20,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | 0 | 21,400 | 22,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | 0 | 21,300 | 22,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | 0 | 22,000 | 23,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | - 300 | 36,500 | 35,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | 0 | 34,100 | 33,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,600 | 32,500 | 32,700 | - 200 | 33,000 | 32,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,750 | 32,700 | 32,800 | - 150 | 33,300 | 32,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | 0 | 33,700 | 34,300 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,700 | 34,900 | - 100 | 35,000 | 36,300 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | - 500 | 34,200 | 35,300 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 36,600 | 36,500 | 36,700 | - 300 | 37,300 | 36,300 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 34,100 | 34,000 | 34,200 | - 100 | 34,600 | 33,800 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | - 300 | 33,600 | 33,100 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 33,700 | 33,600 | 33,800 | - 200 | 34,100 | 33,500 | |
| Ex-Ahmedabad | 125x125 mm, IS 2831 | 34,200 | 34,100 | 34,300 | - 100 | 34,450 | 34,700 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | 0 | 33,900 | 34,500 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 35,200 | 35,200 | 35,400 | - 100 | 35,500 | 36,800 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | - 500 | 34,500 | 35,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,200 | 39,000 | 39,400 | - 200 | 40,100 | 38,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,300 | 39,100 | 39,500 | 0 | 39,500 | 38,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,400 | 36,700 | 0 | 37,400 | 37,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 37,200 | - 100 | 37,700 | 39,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | - 200 | 40,600 | 42,200 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | - 500 | 38,500 | 39,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
