Go to List

Daily Update: Indian Semis Offers Decline

...

Semi Finished
By
BigMint Bureau
836 Reads
3 Apr 2019, 18:33 IST
Daily Update: Indian Semis Offers Decline

Indian spot steel prices registered fall of INR 100-300/MT (upto USD 5) today owing to weak response from domestic buyers. The prices corrects after a constant rise since end of Mar'19.

Market participants believe that, local Billet prices to remain slightly change as demand is not up to the market, while production also disturbed in Central region, which may balance supply-demand.

In context to Sponge iron the prices likely to remain under pressure as supply healthier seasonally and demand is average.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,800-34,500/MT (USD 449-504) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,700-20,000/MT (USD 272-292); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 3rd April 2019 (Wednesday) INR to USD exchange rate stood at INR 68.49.

-- ICEX (Indian Commodity Exchange Ltd) May'19 contract for STEELLONG today open at INR 34,040/MT & last traded (IST 18:30) at INR 34,030/MT.

-- BSE Sensex closed at 38,877(-179) on Wednesday, as against last day (Tuesday) at 39,056(+184).

-- NSE Nifty50 index was closed today at 11,643(-69).

Raw Materials

-- NMDC Ltd, has cut iron ore lump and fines price from its CG mines by up to INR 150/MT (5%), SteelMint learned from market sources.

-- JSW Steel (Dolvi) iron ore sourcing from NMDC recorded at 73 rakes in Mar'19, up 62% as against 45 rakes a month before.

-- Raipur (Central India) based pellet manufacturers have reduced offers by INR 200/MT (USD 3) to INR 6,100/MT (ex-Raipur, GST extra) for Fe 63%.

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

Semi Finished

-- As per Ingot/Billet manufacturers in Jindal's punjipatra-Raigarh area (Central India), Jindal may likely to increase power cut duration from 6 hrs to 12 hrs (from Tomorrow).

-- SAIL's Rourkela Steel Plant tender held today (3rd Apr'19) to sell about 18,000 MT steel grade pig iron & had received weak response. The base price for the tender was quoted by RSP at INR 26,450/MT and near about 89% (16,000 MT) material remained unsold.

-- NINL has kept pig iron prices unaltered for steel grade.The latest offers for Steel (N1) grade material are assessed at INR 26,250-26,650/MT (USD 381-387), ex-Cuttack, Odisha.

-- Jharkhand Ispat is offering 78 FeM Sponge C-DRI(60:40) at INR 19,500/MT, 100% lumps at INR 19,800/MT & P-DRI at INR 18,300/MT ex-plant, Ramgarh.

-- Neo Metaliks in Durgapur has offered Pig iron(steel grade) at INR 27,700-27,800/MT ex-plant. As per officials response is poor at these offers.

-- MMTC- a leading international trading company in India has invited tender for export of 20,000 MT Billets (150*150 mm). Interested bidders can submit their bids till 09 Apr'19 at 14:30 Hrs.

-- Raipur, Central India based Integrated plants offers decreased by INR 200-300/MT, offering Sponge P-DRI at INR 18,300-18,500/MT & Sponge DR CLO grade at INR 20,500-20,700/MT ex-plant.

-- In West Bengal - Durgapur, big manufacturers have decreased sponge prices by INR 300/MT D-o-D; offering P-DRI at INR 18,600-18,800/MT.

-- Raigarh based Singhal Steel offered P-DRI at INR 17,800/MT ex-Raigarh & Billet at INR 31,400-31,500/MT FoR Raipur, officials reported.

-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 18,700-18,800/MT ex-plant & excluding GST.

-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 19,600/MT & Billet at INR 32,000/MT ex-plant.

-- 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.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,600-18,700/MT ex-Bellary; an official reported.

Wire Rod & Pipe

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 37,200/MT ex-plant & excluding GST.

-- Trade discounts in Raipur Wire rod increased to INR 1,100-1,300/MT as against last day at INR 700-900/MT. Basic prices hovering at INR 38,300/MT ex-Raipur & INR 36,500-37,300/MT ex-Durgapur.

Rebar (12 mm)

-- Raipur based - SPEED TMT has offered at INR 36,100/MT (down by INR 200/MT).

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) has offered at INR 36,200/MT (down by INR 200/MT).

-- Gujarat based Akshar Ispat Ltd. (Akshat TMT) is offering at INR 38,800/MT FoR.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their offers at INR 37,900/MT.

-- South region based - VRKP Steel Industry Pvt Ltd - (VRKP TMT) is offering at INR 38,400/MT.

-- Chennai based Ponneri Steel Ind. (Triple Power) is offering at INR 38,500/MT.

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

Reference prices as on 3rd April 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,200 26,100 26,300 - 200 26,100 25,800
Ex-Mumbai HMS(80:20) 24,900 24,800 25,000 - 100 25,000 25,300
Ex-Chennai HMS(80:20) 24,600 24,500 24,700 - 100 24,500 25,300
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,000 19,900 20,100 - 300 19,900 19,700
Ex-Rourkela Mix, FeM 80%, +/-1 18,700 18,700 18,800 - 300 18,800 19,900
Ex-Raipur Mix, FeM 80%, +/-1 19,800 19,700 19,900 - 200 19,800 20,900
Ex-Bellary Lumps, FeM 80%, +/-1 18,700 18,700 18,900 - 100 19,100 20,300
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,700 18,600 18,800 - 300 18,500 18,500
Ex-Raipur Lumps, FeM 80%, +/-1 18,400 18,300 18,500 - 250 18,400 19,500
Ex-Bellary Lumps, FeM 80%, +/-1 18,500 18,400 18,600 + 100 18,700 20,100
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,000 19,000 19,200 0 19,000 20,700
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 34,100 34,000 34,100 - 100 34,000 34,750
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 31,200 31,100 31,300 - 200 31,100 31,700
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,400 30,300 30,500 - 200 30,500 31,700
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,900 30,800 31,000 - 400 30,800 32,200
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 32,900 32,800 33,000 - 200 33,000 34,800
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 34,500 34,400 34,500 - 100 34,400 35,300
Ex-Durgapur 100x100 mm, IS 2831 31,600 31,500 31,700 - 200 31,400 32,200
Ex-Rourkela 100x100 mm, IS 2831 30,800 30,700 30,900 - 200 30,700 32,000
Ex-Raipur 100x100 mm, IS 2831 31,400 31,300 31,500 - 350 31,300 32,500
Ex-Ahmedabad 100x100 mm, IS 2831 33,900 33,800 34,000 - 100 33,800 35,100
Ex-Mumbai 100x100 mm, IS 2831 33,100 33,000 33,200 - 200 33,200 35,000
Ex-Chennai 100x100 mm, IS 2831 32,700 32,700 32,900 + 200 32,000 34,200
Ex-Hyderabad 100x100 mm, IS 2831 32,500 32,400 32,600 - 200 32,500 34,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 38,100 37,900 38,300 0 37,900 38,000
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 36,800 36,600 37,000 - 200 36,500 37,100
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 36,000 35,800 36,200 - 100 36,000 36,600
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 37,000 36,800 37,200 0 37,200 38,200
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 37,700 37,500 37,900 + 200 37,500 38,900
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 36,200 36,000 36,500 - 300 36,000 37,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 36,700 36,500 37,300 - 300 36,700 37,200
Ex-Raipur Wire Rod(5.5 MM) 38,300 37,100 38,300 0 38,200 39,500

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

3 Apr 2019, 18:33 IST

 

 

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