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Daily Update: Indian Semis offers Decline

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BigMint Bureau

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12 Mar 2018, 18:16 IST

Daily Update: Indian Semis offers Decline

In the week opening, domestic Sponge & Billet market observed price corrections of INR 100-500/MT due to low trade activities in major markets.

SteelMint's price assessments for induction furnaces billet size 125x125 mm are reported at INR 32,200-36,500/MT (USD 495-562) ex-plant.

Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-21,600/MT (USD 314-332); prices are ex-plant & excluding GST.

On 12th Mar 2018 (Monday) INR to USD exchange rate stood at INR 65.04 & BSE Sensex closed at 33,917(+610).

Key Market Updates:

1. Essar Steel has increased its iron ore & pellet sourcing by 7% M-o-M to 1.16 MnT in Feb'18 as against 1.08 MnT in Jan'18.

2. Neo Metaliks in Durgapur - West Bengal has kept offers unaltered and are assessed at INR 29,500/MT ex-plant.

3. Raipur, Central India based Integrated plants offers reduced by INR 100/MT D-o-D, offering Sponge P-DRI at INR 19,800-20,000/MT ex-plant

4. Rashmi Metaliks in Durgapur has offered Sponge P-DRI at INR 20,500/MT, according to sources.

5. Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,300-20,400/MT & billet at INR 32,700/MT ex-plant.

6. Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 31,800/MT ex-plant, an official reported.

7. BMM Ispat in Karnataka has offered sponge P-DRI at INR 20,100/MT and Sunvik Steels sponge C-DRI lumps at INR 21,600/MT. Both offers for FeM 80, excluding GST & ex-plant basis.

8. BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 21,500/MT & 22,000/MT ex-plant, Karnataka; an official reported.

9. Rathi Steels in North India - Delhi reduce their price by around INR 500/MT today and current offering at INR 39,600/MT, size - 12 mm & excluding 18% GST.

10. Kalika Steel Alloys in Jalna reduce their prices by INR 200/MT D-o-D basis and current offering 28mm rebars at INR 36,400/MT ex-plant & excluding GST.

11. Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 38,300/MT & Raw Pellet at INR 6,600/MT, Ex-Mill & Excluding GST.

12. Raipur based Wire Rod discount level increased to INR 1,200-1,500/MT as per trade participants.

13. Tulsyan NEC Steel (Tulsyan) based in Chennai offered 12mm Rebars at INR 42,000/MT, ex-plant & excluding GST.

Reference prices as on 12th March 2018

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	21,600	21,500	21,700	- 400	22,700	21,550
	Ex-Rourkela	Mix, FeM 80%, +/-1	20,500	20,400	20,600	0	20,900	20,600
	Ex-Raipur	Mix, FeM 80%, +/-1	21,600	21,500	21,700	0	21,600	21,000
	Ex-Bellary	Lumps, FeM 80%, +/-1	21,000	20,900	21,100	- 100	21,100	20,600
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	20,500	20,400	20,600	- 300	21,600	20,550
	Ex-Raipur	Lumps, FeM 80%, +/-1	19,900	19,800	20,000	- 100	20,400	19,800
	Ex-Bellary	Lumps, FeM 80%, +/-1	20,200	20,100	20,300	- 200	20,300	19,800
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	20,700	20,600	20,800	- 100	21,000	20,300
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	34,800	34,700	34,900	- 400	35,900	34,800
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	32,700	32,700	32,800	- 500	33,550	32,000
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	31,500	31,400	31,600	- 150	32,200	31,100
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	31,950	31,900	32,000	- 150	33,000	32,000
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	34,100	34,000	34,200	- 200	35,300	34,600
	Ex-Chennai	3.5 x 4.5 Inch, IS 2830	36,000	35,900	36,100	0	34,500	34,000
	Ex-Hyderabad	3.5 x 4.5 Inch, IS 2830	33,800	33,800	34,000	0	34,200	33,750
Billet	Ex-Mandi Gobindgarh	125x125 mm, IS 2831	35,700	35,600	35,800	- 300	36,700	35,500
	Ex-Durgapur	125x125 mm, IS 2831	33,400	33,300	33,500	- 100	34,000	32,500
	Ex-Rourkela	125x125 mm, IS 2831	32,500	32,400	32,600	0	32,800	31,500
	Ex-Raipur	125x125 mm, IS 2831	32,900	32,800	32,900	- 100	33,700	32,600
	Ex-Mumbai	125x125 mm, IS 2831	34,300	34,200	34,400	- 200	35,500	34,800
	Ex-Chennai	125x125 mm, IS 2831	36,500	36,500	37,000	0	35,000	34,500
	Ex-Hyderabad	125x125 mm, IS 2831	34,000	34,000	34,200	0	34,500	33,750
TMT	Ex-Delhi/NCR	12MM	38,300	37,900	38,300	- 500	39,100	38,200
	Ex-Durgapur	12MM	38,000	37,800	38,200	- 200	38,300	36,400
	Ex-Raipur	12MM	36,400	36,200	36,600	0	37,000	36,300
	Ex-Mumbai	12MM	38,000	37,600	38,100	- 300	39,200	39,100
	Ex-Chennai	12MM	40,500	40,400	41,000	0	39,500	38,700
	Ex-Hyderabad	12MM	39,800	39,500	40,000	0	40,000	38,200