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Daily Update: Indian Semis Offers Decline

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22 Feb 2019, 18:08 IST
Daily Update: Indian Semis Offers Decline

The steel prices in India significant on downtrend and fall about INR 100-500/MT in today's trade through the mid sized mills. The major drop in prices marked in Central, East & Northern regions.

As per daily assessment, Billet & Rebar prices slump by INR 100-500/MT (upto USD 7), while Sponge iron down by INR 100-400/MT.

Market players stated that, as selling pressure rise with the mills, prices to remain under pressure. However if the demand of finished steel pick, the prices may find support, they added.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 31,900-35,700/MT (USD 448-502) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,900-21,100/MT (USD 279-297); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 22nd February 2019 (Friday) INR to USD exchange rate stood at INR 71.12.

-- ICEX (Indian Commodity Exchange Ltd) Mar'19 contract for STEELLONG today open at INR 34,800/MT & last traded (IST 18:07) at INR 34,550/MT.

-- BSE Sensex closed at 35,871(-26) on Friday, as against last day (Thursday) at 35,898(+142).

-- NSE Nifty50 index was closed today at 10,791(+1).

Raw Materials

-- Bhushan Power & Steel's iron ore sourcing from Rungta mines recorded at 0.06 MnT for the month of Jan'19, down 57% on monthly basis as against 0.13 MnT in Dec'18.

-- Odisha based merchant miners widen discount on bulk Iron Ore fines purchase. Current trade prices for fines (Fe 63%) for bulk bookings is around INR 2,000-2,100/MT (ex-mines, including Royalty, DMF & NMET), down against last week's assessment of INR 2,300/MT (ex-mines, including Royalty, DMF & NMET).

-- Local manufacturers in Central India offered 60-14 Silico Manganese at around INR 67,500/MT ex-plant.

-- Ferro Manganese prices for Ex-Durgapur increased to INR 75,000/MT and Ex-Raipur increased to INR 74,000/MT.

-- SteelMint's assessment for containerised Shredded from the USA and UK stands at around USD 335-340/MT, CFR Nhava Sheva, down by USD 5/MT against the last report.

Semi Finished

-- Rashtriya Ispat Nigam Limited (RINL), has invited tender for export of 8,127 MT Billets to Nepal. Interested bidders can submit their bids till 26 Feb'19 at 15:00 hrs.

-- NINL extended domestic Pig iron price circular due date to 27th Feb'19 as against earlier on 22nd Feb'19. The company's offer for Steel (N1) grade hovering at INR 26,750-27,150/MT; ex-Cuttack, East India.

-- Indian sponge iron export offers reduced by USD 10-15/MT W-o-W, price assessment for 80 FeM sponge lumps are at USD 320-325/MT CPT Benapole (dry land port of Bangladesh & India) and USD 340-345/MT CFR Chittagong, Bangladesh.

-- As per sources, Usha Martin Ltd in Jamshedpur has offered Sponge C-DRI (FeM 80) at around INR 19,700/MT ex-plant.

-- Indian medium mills export offers to Nepal hovering at USD 440-445/MT for Billet & USD 515-520/MT for Wire rod (5.5 mm) ex-mill at Durgapur.

-- Raipur, Central India based Integrated plants offers decreased by INR 300-400/MT, offering Sponge P-DRI at INR 20,000-20,100/MT & Sponge DR CLO grade at INR 22,000-22,200/MT ex-plant.

-- Raigarh based Singhal Steel offered P-DRI at INR 19,300/MT ex-Raigarh & Billet at INR 33,100-33,200/MT FoR Raipur, officials reported.

-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,900/MT & INR 21,200/MT ex-plant, Karnataka; an official reported.

Wire Rod & Pipe

-- Raipur based wire rod manufacturers reduced offers by INR 300/MT and trade discount through the manufacturers/suppliers is around INR 1,000-1,200/MT. The offers for 5.5 mm wire rod is hovering at around INR 39,700/MT ex-Raipur & INR 37,000-37,200/MT ex-Durgapur.

-- Rashmi Metaliks reduces wire rod offers by INR 200/MT to INR 36,800/MT (5.5 mm) ex-Kharagpur, East India.

-- Raipur, Central India based ERW pipe manufacturers decreased prices by INR 200/MT & offers reported at around INR 38,700-38,800/MT ex-plant & excluding GST.

-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,800/MT ex-plant. (basic & excluding GST).

Rebar (12 mm)

-- Raipur based - SPEED TMT offering at INR 36,500/MT (Down by INR 400/MT).

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) current offering at INR 39,700/MT FoR (Down by INR 200/MT).

-- Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) offering at INR 39,200/MT (Down by INR 100/MT).

-- Mumbai based Guardian Castings Pvt. Ltd. (Guardian TMT) unchanged their offering at INR 39,400/MT.

Note - Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.

Reference prices as on 22nd February 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,000 25,900 26,100 0 26,300 25,800
Ex-Mumbai HMS(80:20) 25,300 25,100 25,400 - 200 25,800 25,100
Ex-Chennai HMS(80:20) 25,200 25,000 25,300 + 100 25,300 24,300
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,900 19,800 20,000 - 300 21,750 20,600
Ex-Rourkela Mix, FeM 80%, +/-1 20,300 20,200 20,400 - 300 21,200 19,400
Ex-Raipur Mix, FeM 80%, +/-1 21,100 21,000 21,200 - 300 22,300 20,500
Ex-Bellary Lumps, FeM 80%, +/-1 20,500 20,400 20,600 - 200 21,300 19,300
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,700 18,600 18,800 - 200 20,550 19,500
Ex-Raipur Lumps, FeM 80%, +/-1 20,000 20,000 20,100 - 400 21,300 19,000
Ex-Bellary Lumps, FeM 80%, +/-1 20,100 20,000 20,200 - 200 20,800 18,800
Ex-Hyderabad Lumps, FeM 80%, +/-1 20,700 20,600 20,800 - 100 21,300 19,500
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 34,800 34,700 34,900 - 400 35,800 34,050
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 31,500 31,400 31,600 - 300 33,200 31,400
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 31,500 31,400 31,600 - 300 32,900 30,500
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 32,200 32,100 32,300 - 250 33,600 31,100
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 35,500 35,400 35,600 - 300 35,700 33,300
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 35,300 35,200 35,300 - 600 36,400 34,450
Ex-Durgapur 100x100 mm, IS 2831 31,900 31,800 32,000 - 300 33,700 31,800
Ex-Rourkela 100x100 mm, IS 2831 32,300 32,200 32,300 - 200 33,600 31,200
Ex-Raipur 100x100 mm, IS 2831 33,200 33,100 33,300 - 200 34,500 32,000
Ex-Ahmedabad 100x100 mm, IS 2831 35,450 35,400 35,500 0 35,500 33,200
Ex-Mumbai 100x100 mm, IS 2831 35,700 35,600 35,800 - 400 35,900 33,500
Ex-Chennai 100x100 mm, IS 2831 34,500 34,400 34,600 0 35,500 32,500
Ex-Hyderabad 100x100 mm, IS 2831 34,000 33,900 34,100 - 300 34,500 32,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 38,100 37,900 38,300 - 200 39,000 37,500
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 36,800 36,600 37,000 - 500 38,300 36,300
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 36,300 36,100 36,500 - 300 37,500 35,000
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 39,100 38,900 39,400 0 39,300 36,600
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 38,800 38,600 39,000 - 200 39,600 36,600
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 37,800 37,600 38,000 0 38,000 36,700
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 37,000 36,800 37,200 - 300 38,700 37,100
Ex-Raipur Wire Rod(5.5 MM) 39,700 38,500 39,700 - 300 41,200 38,100

Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research

22 Feb 2019, 18:08 IST

 

 

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