Daily Update: Indian Semis Offers Decline
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Indian steel prices moved down trend in the week opening owing to lack of inquiries and healthier supply as lifting remains poor from the mid sized mills, as stated by participants.
As per daily assessment, the Rebar & Billet prices drop by INR 100-500/MT and majorly in North-east regions by INR 300-500/MT (USD 4-7).
In line Sponge iron, prices fell by INR 100-300/MT and majorly in Central & Eastern India by INR 200-300/MT (USD 3-4) owing to rising inventories and competitive offers from outside markets.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 29,000-33,100/MT (USD 414-474) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,700-18,100/MT (USD 253-259); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 17th June 2019 (Monday) INR to USD exchange rate stood at INR 69.87.
-- ICEX (Indian Commodity Exchange Ltd) Jul'19 contract for STEELLONG today open at INR 32,680/MT & last traded (IST 18:17) at INR 32,350/MT.
-- BSE Sensex closed at 38,960(-491) on Monday, as against last day (Friday) at 39452(-289).
-- NSE Nifty50 index was closed today at 11,672(-151) & Nifty Metal at 2,860(-84).
Raw Materials
-- SteelMint's assessment for low grade (Fe 57/58%) iron ore fines prices at USD 66-67/MT, FoB India equivalent to USD 76-77/MT, CFR China.
-- South African RB2 (5500 NAR) coal offers are assessed at USD 50.69/MT on FoB basis & USD 63.69/MT CNF India.
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 195.5/MT FoB Australia & USD 208.1/MT CNF India.
Semi Finished
-- RINL has concluded the billet export tender for 20,000 MT (150*150 mm) at around USD 435/MT, FoB India, whose last date for bid submission was 11 Jun'19- Sources.
-- Atibir Industries has reduced Pig iron prices by INR 500/MT to INR 27,400-27,900/MT ex-Giridih, Jharkhand.
-- Jindal Steel has lowered prices and offering steel grade pig iron at INR 27,700/MT ex-Raigarh & Panther shots at INR 26,500/MT ex-Angul, Odisha.
-- Neo Metaliks in Durgapur has offered steel grade pig iron at INR 27,400-27,500/MT ex-plant.
-- As per SteelMint conversation, traders booked close to 20,000-25,000 pig iron in recent price revision by Neelachal Ispat (NINL).
-- Raipur based manufacturers have offered Sponge P-DRI at INR 17,000-17,100/MT, however few deals learned at close to INR 16,900/MT ex-plant.
-- Raigarh based Singhal Steel offered P-DRI at INR 17,100/MT & Billet at INR 29,800/MT FoR-Raipur, officials reported.
-- Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 29,300/MT ex-plant, an official reported.
-- East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 29,500/MT ex-plant as per officials. However as per participants no major buyers at this prices.
-- As per participants report induction grade billet export offers to Nepal at around USD 420/MT Ex-mill, Odisha.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,500/MT ex-Bellary; an official reported.
-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 18,200/MT & INR 18,600/MT ex-plant, Karnataka; an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 18,900/MT & Billet at INR 30,400/MT ex-plant.
Wire Rod & Pipe
-- Trade discounts in Raipur Wire rod steady at INR 1,300-1,500/MT as base price reduced by INR 300/MT to INR 36,000/MT ex-plant.
-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 36,400-36,500/MT ex-plant & excluding GST. Offers decline by INR 100/MT D-o-D.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 39,200/MT ex-plant & excluding GST.
Rebar (12 mm)
-- Raipur based - SPEED TMT has unchanged their offers at INR 34,300/MT.
-- Real Ispat (GK TMT) is current offering at INR 36,500/MT (down by INR 300/MT).
-- Raigarh based N.R Ispat & Power Pvt. Ltd (N.R TMT) is offering at INR 34,200/MT.
-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 34,500/MT (down by INR 200/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 35,300/MT (down by INR 200/MT).
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 35,300/MT.
-- Chennai based Ponneri Steel Ind. (Triple Power) is offering at INR 36,500/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 17th June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,900 | 25,800 | 26,000 | + 200 | 25,700 | 25,800 |
| Ex-Mumbai | HMS(80:20) | 24,400 | 24,300 | 24,500 | - 100 | 24,800 | 25,100 | |
| Ex-Chennai | HMS(80:20) | 22,500 | 22,300 | 22,500 | - 200 | 23,500 | 23,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 18,100 | 18,000 | 18,200 | - 300 | 18,700 | 19,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 17,800 | 17,700 | 17,900 | - 200 | 18,200 | 18,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 18,000 | 17,900 | 18,100 | - 300 | 18,700 | 19,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,900 | 17,800 | 18,000 | - 100 | 18,500 | 19,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 17,100 | 17,000 | 17,200 | - 300 | 17,700 | 18,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | - 300 | 17,400 | 18,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 17,400 | 17,300 | 17,500 | - 100 | 18,000 | 18,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 18,000 | 17,900 | 18,000 | 0 | 18,600 | 19,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,700 | 32,900 | - 500 | 33,450 | 34,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 29,500 | 29,400 | 29,600 | - 300 | 30,200 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,800 | 28,700 | 28,900 | - 200 | 29,400 | 30,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,950 | 28,900 | 29,000 | - 350 | 29,500 | 30,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | - 100 | 31,500 | 32,700 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 33,100 | 33,000 | 33,200 | - 500 | 33,800 | 34,850 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | - 300 | 30,650 | 32,000 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 29,150 | 29,100 | 29,200 | - 250 | 29,800 | 31,000 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 29,550 | 29,500 | 29,600 | - 300 | 30,050 | 31,600 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 32,100 | 32,000 | 32,200 | 0 | 32,200 | 32,800 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 31,100 | 31,000 | 31,200 | - 100 | 31,750 | 33,000 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 30,300 | 30,200 | 30,400 | - 300 | 31,200 | 31,900 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | 0 | 31,000 | 32,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,600 | 37,000 | - 200 | 37,000 | 37,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 34,600 | 34,400 | 34,800 | - 500 | 35,500 | 37,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,000 | 34,000 | 34,200 | 0 | 34,300 | 35,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 34,000 | 33,900 | 34,200 | 0 | 34,400 | 35,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,600 | 36,000 | 0 | 36,200 | 37,100 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 34,000 | 33,800 | 34,200 | 0 | 34,800 | 36,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 34,600 | 34,400 | 35,000 | - 200 | 35,800 | 37,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 35,200 | 34,500 | 36,000 | - 300 | 35,800 | 37,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
