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Daily Update: Indian Semis Offers Decline

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Semi Finished
By
BigMint Bureau
1086 Reads
6 Mar 2019, 18:17 IST
Daily Update: Indian Semis Offers Decline

Indian Semis prices fall today due to poor off take in finished products & rising supply, as reported by mid sized mills. The prices slump up to INR 1,000/MT (USD 14) in major markets.

The Billet offers moved down by INR 300-1,000/MT, in which prices majorly fall in Hyderabad by INR 1,000/MT, Ahmedabad by INR 600/MT & Mumbai and Raipur by INR 500/MT, meanwhile in remaining locations it correct by INR 300-400/MT.

In line with Rebar, the producers have slashed prices by INR 100-500/MT, although Sponge iron prices reduced by INR 100-400/MT, day on day.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 32,000-35,300/MT (USD 455-503) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,700-20,900/MT (USD 280-298); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 6th March 2019 (Wednesday) INR to USD exchange rate stood at INR 70.21.

-- ICEX (Indian Commodity Exchange Ltd) Apr'19 contract for STEELLONG today open at INR 34,680/MT & last traded (IST 18:15) at INR 34,400/MT.

-- BSE Sensex closed at 36,636(+193) on Wednesday, as against last day (Tuesday) at 36,442(+378).

-- NSE Nifty50 index was closed today at 11,053(+65).

Raw Materials

-- Indian iron ore exports in Feb'19 recorded at 0.33 MnT, dropped 49% as against 0.64 MnT in Jan'19.

-- India's KIOCL concludes 50,000 MT pellet (<2% Al) export tender at USD 116-116.5/MT, FoB. Indian pellet exports fell 20% in Feb'19 amid falling Chinese demand.

-- BRPL turns out to be the largest pellet exporter in Feb'19 & stood at 0.23 MnT, down 12% as against 0.26 MnT in Jan'19.

Semi Finished

-- Indian sponge iron export offers to Bangladesh remain unchanged, prices for lumps of grade FeM 78-80, recorded at USD 310/MT CPT Benpole (dry land port of Bangladesh & India) and USD 330/MT CNF Chittagong, Bangladesh.

-- Indian export offers to Nepal by a large mill in eastern region is hovering at USD 475-480/MT for Billet & USD 565/MT for Wire rod, CNF Nepal (Raxaul border).

-- Neo Metaliks, one of the major merchant supplier of steel grade pig iron in Durgapur has maintained offers firm at around INR 28,200/MT ex-plant.

-- Raipur, Central India based Integrated plants offers decreased by INR 200-300/MT, offering Sponge P-DRI at INR 19,300-19,500/MT & Sponge DR CLO grade at INR 21,900-22,000/MT ex-plant.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,000/MT & Billet at INR 32,000/MT ex-plant.

-- BIOP Steels in South India has decreased sponge prices by INR 100-200/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,300/MT & INR 20,700/MT ex-plant, Karnataka; an official reported.

-- Hyderabad, South India based steel manufacturers reduced their Billet offer by INR 1,000/MT to INR 34,000/MT, Also offering FeM 80 P-DRI & 12 MM Rebar at around INR 20,500-20,600/MT & INR 37,500/MT. prices are ex-plant & excluding GST.

Wire Rod

-- Raipur based wire rod manufacturers reduced offers by INR 500/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 39,500/MT ex-Raipur & INR 37,100-37,300/MT ex-Durgapur

Rebar (12 mm)

-- Raipur based - SPEED TMT offering at INR 36,600/MT (Down by INR 600/MT).

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

-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) offering at INR 38,900/MT (Down by INR 500/MT).

-- Chennai based Shakti Ferro Alloys, (SSI TMT) unchanged their offering at INR 39,000/MT.

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

Reference prices as on 6th March 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 25,800 25,700 25,900 - 300 26,100 26,800
Ex-Mumbai HMS(80:20) 25,300 25,100 25,400 - 100 25,200 25,500
Ex-Chennai HMS(80:20) 25,300 25,100 25,400 - 200 25,100 24,500
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,700 19,600 19,800 - 300 19,800 21,500
Ex-Rourkela Mix, FeM 80%, +/-1 19,900 19,800 20,000 - 400 20,100 20,200
Ex-Raipur Mix, FeM 80%, +/-1 20,900 20,800 21,000 - 200 21,000 21,200
Ex-Bellary Lumps, FeM 80%, +/-1 20,300 20,200 20,400 - 200 20,200 19,800
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,500 18,400 18,600 - 300 18,600 20,200
Ex-Raipur Lumps, FeM 80%, +/-1 19,500 19,400 19,600 - 250 19,700 20,200
Ex-Bellary Lumps, FeM 80%, +/-1 20,100 20,000 20,200 - 100 19,900 19,400
Ex-Hyderabad Lumps, FeM 80%, +/-1 20,700 20,600 20,800 - 100 20,500 19,900
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 34,750 34,700 34,800 - 450 34,550 35,000
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 31,700 31,600 31,800 - 400 31,300 32,500
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 31,700 31,600 31,800 - 200 31,300 31,650
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 32,200 32,100 32,300 - 400 32,300 32,200
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 34,800 34,700 34,900 - 500 34,900 34,500
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 35,300 35,200 35,300 - 400 35,000 35,400
Ex-Durgapur 100x100 mm, IS 2831 32,200 32,100 32,300 - 450 31,800 33,000
Ex-Rourkela 100x100 mm, IS 2831 32,000 32,000 32,100 - 300 31,800 32,200
Ex-Raipur 100x100 mm, IS 2831 32,500 32,400 32,600 - 550 33,000 33,250
Ex-Ahmedabad 100x100 mm, IS 2831 35,100 35,000 35,200 - 600 35,050 34,750
Ex-Mumbai 100x100 mm, IS 2831 35,000 34,900 35,100 - 500 35,100 34,800
Ex-Chennai 100x100 mm, IS 2831 34,200 34,000 34,200 - 500 34,200 33,600
Ex-Hyderabad 100x100 mm, IS 2831 34,000 33,900 34,100 - 1,000 34,000 33,700
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 38,000 37,800 38,100 - 400 37,600 38,000
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 37,100 36,900 37,300 - 400 36,300 37,300
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 36,600 36,400 36,600 - 400 36,100 35,900
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 38,200 38,000 38,600 - 400 38,300 38,000
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 38,900 38,600 39,100 - 100 38,500 37,200
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 37,500 37,300 37,700 - 1,000 37,500 37,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 37,200 37,000 37,500 - 500 37,000 37,700
Ex-Raipur Wire Rod(5.5 MM) 39,500 38,200 39,500 - 500 39,300 39,200

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

6 Mar 2019, 18:17 IST

 

 

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