Go to List

Daily Update: Indian Semis Offers Decline

...

Semi Finished
By
BigMint Bureau
852 Reads
28 Mar 2019, 18:11 IST
Daily Update: Indian Semis Offers Decline

Indian steel prices fell further today against yesterday. However SteelMint learned that the mills are not looking for more drop in prices considering prices to have bottomed out (further drop may reduce prices below production cost of standalone mills) and are holding positive outlook.

The price corrections have noticed by INR 100-500/MT in Billet & Rebar and majorly in Gujarat & Maharashtra by INR 400-500/MT (USD 5-7). Meanwhile Sponge iron prices dropped by INR 100-300/MT (day on day) in major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,400-34,200/MT (USD 438-494) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,700-19,800/MT (USD 269-286); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 28th March 2019 (Thursday) INR to USD exchange rate stood at INR 69.29.

-- ICEX (Indian Commodity Exchange Ltd) Apr'19 contract for STEELLONG today open at INR 33,620/MT & last traded (IST 18:10) at INR 33,400/MT.

-- BSE Sensex closed at 38,545(+412) on Thursday, as against last day (Wednesday) at 38,132(-100).

-- NSE Nifty50 index was closed today at 11,570(+124).

Raw Materials

-- Odisha (Jharsuguda) based pellet maker - Shyam Metaliks & Energy is all set to commence operations at its new pellet plant in Jharsuguda with 0.6 MnT pa capacity by end of April 2019.

-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 325/MT, CFR Nhava Sheva, Offers incline by USD 5/MT W-o-W.

-- Melting scrap offers in Western India- Gujarat & Maharashtra incline by INR 200-300/MT in a day trade activities

-- Local manufacturers in Central India are offering 60-14 Silico Manganese at around INR 66,500-67,000/MT ex- Raipur & INR 67,500/MT ex-Raigarh.

Semi Finished

-- Jindal Steel is offering Pig iron (steel grade) at INR 27,500/MT ex-Raigarh & Panther shots (Granulated Pig iron) at INR 25,500/MT ex-Angul, Odisha.

-- Bokaro, Jharkhand based a mill is offering Blast furnace grade wire rod at INR 42,000/MT & Pig iron at INR 27,500/MT ex-plant.

-- As per sources, Mesco Steels in Jajpur, Odisha has further cuts pig iron prices and offered steel grade at around INR 26,300/MT ex-plant.

-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,300-18,500/MT & Sponge DR CLO grade at INR 20,600-20,800/MT ex-plant.

-- Raigarh based Singhal Steel offered P-DRI at INR 17,700/MT ex-Raigarh & Billet at INR 31,100/MT FoR Raipur, officials reported.

-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 18,700-19,000/MT ex-plant & excluding GST.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered Billet at INR 30,400/MT ex-plant. However as per officials no major deals at this prices.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,200/MT & 19,600/MT ex-plant, Karnataka; an official reported.

-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 19,000/MT & INR 32,500/MT. Also offering 12 mm Rebar at INR 36,000/MT. All prices are ex-plant & excluding GST.

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod unaltered and hovering at INR 1,000-1,100/MT. Basic offers for 5.5 wire rod stood at INR 38,000/MT ex-Raipur and close to INR 36,500/MT ex-Durgapur.

-- Raipur, Central India based ERW pipe manufacturers decreased prices by INR 200/MT & offers reported at around INR 36,800/MT ex-plant & excluding GST.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,200/MT ex-plant & excluding GST.

-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,000/MT ex-plant. (basic & excluding GST). Offers decline by INR 300/MT D-o-D.

Rebar (12 mm)

-- Rathi Steels based in North region has unchanged their offers at INR 39,200/MT (ex-Delhi).

-- Raipur based - SPEED TMT has offered at INR 35,800/MT (down by INR 300/MT).

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) has offered at INR 35,800/MT (down by INR 200/MT).

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has offered at INR 37,500/MT (down by INR 400/MT).

-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) has offered at INR 37,500/MT (down by INR 400/MT).

-- Chennai based ARS Steel (ARS 500 D) has unchanged their offering at INR 40,400/MT.

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

Reference prices as on 28th 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 25,800 26,300
Ex-Mumbai HMS(80:20) 24,800 24,700 24,900 - 200 24,800 25,300
Ex-Chennai HMS(80:20) 24,500 24,400 24,700 0 24,600 25,300
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,800 19,700 19,900 - 100 19,600 20,000
Ex-Rourkela Mix, FeM 80%, +/-1 18,700 18,600 18,800 - 100 18,700 20,400
Ex-Raipur Mix, FeM 80%, +/-1 19,700 19,600 19,800 - 100 19,800 21,300
Ex-Bellary Lumps, FeM 80%, +/-1 18,900 18,800 19,000 - 200 19,000 20,300
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,400 18,300 18,500 - 100 18,400 18,800
Ex-Raipur Lumps, FeM 80%, +/-1 18,400 18,300 18,500 0 18,600 20,000
Ex-Bellary Lumps, FeM 80%, +/-1 18,400 18,300 18,500 - 300 18,400 20,000
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,000 19,000 19,200 0 18,800 20,500
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 33,800 33,700 33,900 - 200 33,800 35,000
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 31,000 30,900 31,100 - 100 31,500 31,800
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,200 30,100 30,300 - 300 30,300 31,700
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,600 30,600 30,700 - 200 31,000 32,700
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 32,600 32,500 32,700 - 400 33,000 35,200
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 34,200 34,100 34,300 - 200 34,100 35,400
Ex-Durgapur 100x100 mm, IS 2831 31,300 31,200 31,400 - 100 31,900 32,300
Ex-Rourkela 100x100 mm, IS 2831 30,400 30,400 30,500 - 300 30,600 32,200
Ex-Raipur 100x100 mm, IS 2831 31,100 31,000 31,200 - 200 31,500 33,500
Ex-Ahmedabad 100x100 mm, IS 2831 33,300 33,100 33,500 - 500 33,850 35,300
Ex-Mumbai 100x100 mm, IS 2831 32,800 32,700 32,900 - 400 33,200 35,450
Ex-Chennai 100x100 mm, IS 2831 32,000 32,000 32,200 0 32,850 34,150
Ex-Hyderabad 100x100 mm, IS 2831 32,500 32,400 32,600 0 32,700 34,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,900 37,800 38,100 0 37,000 37,900
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 36,300 36,100 36,500 - 200 36,500 36,800
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 35,700 35,500 35,800 - 300 35,600 36,300
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 36,800 36,600 37,000 - 400 36,800 38,300
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 37,400 37,300 37,600 - 100 38,000 38,500
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 36,000 35,800 36,200 0 36,200 37,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 36,500 36,300 36,700 - 200 36,800 37,300
Ex-Raipur Wire Rod(5.5 MM) 38,000 36,900 38,000 - 200 38,000 39,700

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

28 Mar 2019, 18:11 IST

 

 

You have 1 complimentary insights remaining! Stay informed with BigMint
Login Buy Now
Related Insights
;