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Daily Update: Indian Semis Offers Decline

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Semi Finished
By
BigMint Bureau
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13 Jun 2019, 18:18 IST
Daily Update: Indian Semis Offers Decline

Indian steel prices slightly fell today on account of limited inquiries in finished products. The participants reported mis-match trade cycle, where supply healthier although demand paralyse from the local buyers.

On daily assessment, the mid sized mills have reduced Billet prices by INR 100-500/MT, meanwhile Rebar & Sponge iron prices drop by INR 100-300/MT.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 29,100-33,200/MT (USD 418-478) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,700-18,300/MT (USD 254-263); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 13th June 2019 (Thursday) INR to USD exchange rate stood at INR 69.51.

-- ICEX (Indian Commodity Exchange Ltd) Jul'19 contract for STEELLONG today open at INR 32,680/MT & last traded (IST 18:10) at INR 32,450/MT.

-- BSE Sensex closed at 39,741(-15) on Thursday, as against last day (Wednesday) at 39,756(-193).

-- NSE Nifty50 index was closed today at 11,914(+7) & Nifty Metal at 2,955(-6).

Raw Materials

-- NMDC resumed operations at Bacheli and Kirandul mines today as per sources report to SteelMint.

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 197.5/MT FoB Australia & USD 210.35/MT CNF India.

-- Indian met coke import prices down by USD 9/MT W-o-W and assessed at around USD 340.50/MT for 64% CSR and the 62% CSR grades prices at around USD 326.5/MT on CNF India basis.

-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 310/MT, CFR Nhava Sheva.

Semi Finished

-- Raipur based plants have offered P-DRI at INR 17,100-17,300/MT although deals learned at near to INR 17,000/MT ex-plant due to competitive offers from outside at INR 17,100-17,200/MT FoR Raipur.

-- In West Bengal - Durgapur, big manufacturers have decreased sponge prices by INR 200/MT D-o-D; offering P-DRI at INR 17,200-17,400/MT.

-- Jharkhand Ispat has offered C-DRI lumps at INR 18,800/MT, Sponge mix material (60:40) at INR 18,500/MT & Billet at INR 30,000/MT ex-plant, Ranchi. As per officials Billet sold to Patna & frieght cost is about INR 800/MT.

-- Neo Metaliks in Durgapur has reduced steel grade pig iron prices by INR 200/MT to INR 27,600-27,800/MT ex-plant.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,000/MT & Billet at INR 29,200/MT ex-plant.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 18,300/MT & INR 18,700/MT ex-plant, Karnataka; an official reported.

-- Apple Industries in Bellary (Karnataka) offered Billet at INR 30,500/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,500-17,600/MT ex-Bellary, offers decline by INR 200-300/MT from the last trade; an official reported.

Wire Rod & Pipe

-- Trade discount in Raipur Wire rod slightly increase by INR 100/MT to INR 1,400-1,600/MT as base price steady at INR 36,300/MT ex-plant. Similarly in Durgapur where trade prices down by INR 200-400/MT to INR 34,800-35,500/MT ex-plant.

-- Mid sized mills Billet (100*100) export offers to Nepal is hovering at USD 425-430/MT & Wire rod (5.5 mm) at USD 500-510/MT ex-mill at Durgapur, Eastern India.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 39,300/MT ex-plant & excluding GST

Rebar (12 mm)

-- Rathi Steels based in North region is offering around INR 37,600/MT (ex-Delhi).

-- Raipur based - SPEED TMT has unchanged their offers at INR 34,300/MT.

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 34,700/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 35,900/MT FoR.

-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 35,700/MT.

-- Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is currently offering at INR 36,000/MT.

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

Reference prices as on 13th June 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Raipur HMS(80:20) 24,400 24,300 24,500 - 100 25,100 24,800
Ex-Mumbai HMS(80:20) 24,400 24,400 24,600 - 100 24,800 24,900
Ex-Chennai HMS(80:20) 23,100 23,000 23,200 0 23,400 23,500
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 18,300 18,200 18,400 - 200 19,200 18,800
Ex-Rourkela Mix, FeM 80%, +/-1 18,000 17,900 18,100 - 100 18,500 18,500
Ex-Raipur Mix, FeM 80%, +/-1 18,200 18,100 18,300 - 200 19,100 19,400
Ex-Bellary Lumps, FeM 80%, +/-1 18,100 18,000 18,200 - 200 18,900 18,700
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 17,300 17,200 17,400 - 200 18,200 17,600
Ex-Raipur Lumps, FeM 80%, +/-1 17,050 17,000 17,100 - 250 17,900 18,300
Ex-Bellary Lumps, FeM 80%, +/-1 17,500 17,400 17,600 - 300 18,500 18,300
Ex-Hyderabad Lumps, FeM 80%, +/-1 18,100 18,000 18,200 - 200 19,100 18,900
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 32,850 32,800 32,900 - 250 33,800 33,950
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 29,600 29,500 29,700 - 400 30,600 30,900
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 28,900 28,900 29,000 - 200 29,800 30,050
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 29,100 29,000 29,200 - 200 30,000 30,400
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 31,200 31,100 31,200 0 31,600 32,000
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 33,200 33,100 33,300 - 300 34,100 34,200
Ex-Durgapur 100x100 mm, IS 2831 30,000 29,900 30,100 - 500 31,000 31,400
Ex-Rourkela 100x100 mm, IS 2831 29,200 29,100 29,300 - 300 30,200 30,350
Ex-Raipur 100x100 mm, IS 2831 29,600 29,500 29,700 - 500 30,700 30,900
Ex-Ahmedabad 100x100 mm, IS 2831 32,300 32,200 32,400 - 100 32,700 31,650
Ex-Mumbai 100x100 mm, IS 2831 31,400 31,300 31,400 - 50 31,900 32,300
Ex-Chennai 100x100 mm, IS 2831 30,800 30,700 30,900 0 31,500 31,500
Ex-Hyderabad 100x100 mm, IS 2831 30,000 29,900 30,100 0 31,500 31,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,000 36,800 37,200 0 37,400 36,900
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 35,100 34,900 35,300 - 200 36,200 36,300
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 34,000 34,000 34,200 - 100 34,800 34,700
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 34,300 34,200 34,500 0 34,800 35,700
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 35,900 35,800 36,200 0 36,400 37,000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 34,000 33,800 34,200 - 300 35,200 35,200
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 35,000 34,800 35,400 - 500 36,300 36,800
Ex-Raipur Wire Rod(5.5 MM) 35,500 34,700 36,300 0 36,300 37,000

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

13 Jun 2019, 18:18 IST

 

 

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