Daily Update: Indian Semis Offers Decline Further
...
Indian Steel prices remained on down trend amid limited trades in domestic & exports. The participants reported mismatch in supply-demand as supply continue to remain strong, while demand weakened.
As per daily assessment, the mid size mills have reduced Rebar prices by INR 100-400/MT, Billet by INR 100-300/MT (Upto USD 4) & Sponge iron by INR 100-400/MT, day-on-day.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,200-34,000/MT (USD 419-472) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-21,600/MT (USD 280-300); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 12th December 2018 (Wednesday) INR to USD exchange rate stood at INR 71.99.
-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 34,080/MT & last traded (IST 18:21) at INR 33,790/MT.
-- BSE Sensex closed at 35,779(+629) on Wednesday, as against last day (Tuesday) at 35,150(+190).
-- NSE Nifty50 index was closed today at 10,737(+188).
Raw Materials
-- Jindal Steel & Power -an eastern India based pellet maker has concluded an export deal for around 50,000 MT for regular grade pellets (Fe 64%, containing 3% alumina) last week at around USD 110/MT, CFR China.
-- As per custom data maintained by SteelMint, the imports of ship breaking in Alang stood at 0.21 LDT in Nov'18 as against 0.13 LDT in Oct'18, surge by 62% M-o-M.
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 227/MT FoB Australia & USD 239.8/MT CNF India.
-- India's metallurgical coal imports have fallen slightly by 2.08% to 4.32 million tonnes (MnT) in Nov'18, as compared to 4.41 MnT in Oct'18 - CoalMint Research.
Semi Finished
-- Indian sponge iron export offers remains firm at USD 350-355/MT CFR Chittagong, Bangladesh.
-- Bokaro based Electrosteels roll-over Pig iron prices and offering Steel grade at INR 28,700-29,000/MT ex-plant & excluding GST.
-- Durgapur, West Bengal based Integrated plants have reduced sponge prices today by around INR 300/MT on rising stock amid weak demand. The offers for P-DRI reported at INR 19,300-19,400/MT.
-- Mid size mills in Durgapur, West Bengal have concluded Billet export deals to Nepal at around USD 428/MT ex-mill, equivalent to USD 455/MT CFR Raxaul border, Nepal.
-- Market expects, NINL to either roll-over or reduce prices of pig iron in fresh price circular. NINL is India's largest pig iron manufacturer and company's domestic offers are due since 8th Dec'18. Last offers were at INR 28,100-28,500/MT ex-plant, Cuttack, East India.
-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,900-20,100/MT & Sponge DR CLO grade at INR 22,500-22,700/MT ex-plant
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 20,200/MT ex-Bellary, an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 21,000/MT & Billet at INR 32,600-32,700/MT ex-plant.
-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 20,600/MT & 21,000/MT ex-plant, Karnataka; an official reported.
Finished Long
-- Raipur based wire rod manufacturers kept offers unchanged and trade discount through the manufacturers/suppliers almost similar at around INR 900-1,000/MT. The offers for 5.5 mm wire rod is hovering around INR 38,300/MT ex-Raipur & INR 37,200-37400/MT ex-Durgapur
-- Mandi Gobindgarh, North India based ERW pipe manufacturers reduced prices by INR 300/MT & offers reported at around INR 40,500/MT ex-plant & excluding GST.
Rebar (12 mm)
-- Raipur based - GK TMT offering at INR 37,700/MT, down by INR 200/MT (10-25 mm)
-- Raipur based - SPEED TMT offering at INR 35,000/MT, down by INR 200/MT
-- Mumbai based Guardian TMT offering at INR 36,000/MT, down by INR 300/MT.
-- Chennai based ARS Steel (Trusteel) kept offers unchanged to INR 40,000/MT.
-- East region based - Baba Smelter Pvt. Ltd offers reduced in structure (125,150 Channel) at INR 38,500/MT
Note - The prices mentioned above based on ex-work and excluding GST and changes are placed on day basis.
Reference prices as on 12th December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,200 | 26,100 | 26,300 | 0 | 26,900 | 27,500 |
| Ex-Mumbai | HMS(80:20) | 26,000 | 26,000 | 26,200 | - 100 | 26,000 | 26,200 | |
| Ex-Chennai | HMS(80:20) | 24,900 | 24,800 | 25,000 | 0 | 24,900 | 26,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,250 | 20,200 | 20,300 | - 450 | 21,600 | 23,500 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | - 100 | 20,700 | 22,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | - 200 | 22,000 | 22,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | - 100 | 20,700 | 21,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,250 | 19,200 | 19,300 | - 450 | 20,600 | 22,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | - 100 | 20,450 | 21,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | - 100 | 20,100 | 21,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | - 100 | 20,500 | 21,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | - 300 | 34,800 | 35,800 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,300 | 30,200 | 30,400 | - 200 | 31,600 | 33,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,900 | 29,800 | 30,000 | - 350 | 30,600 | 32,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,000 | 30,000 | 30,100 | - 500 | 31,100 | 32,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,400 | 32,300 | 32,500 | - 300 | 33,300 | 34,100 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | - 300 | 35,200 | 36,600 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 30,800 | 30,700 | 30,900 | - 200 | 32,000 | 33,700 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 30,250 | 30,200 | 30,300 | - 250 | 30,800 | 32,800 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 30,750 | 30,700 | 30,900 | - 250 | 31,700 | 33,300 | |
| Ex-Ahmedabad | 125x125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | - 100 | 33,800 | 34,650 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 32,600 | 32,500 | 32,700 | - 300 | 33,500 | 34,300 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | 0 | 33,500 | 35,100 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 32,300 | 32,000 | 32,500 | - 200 | 32,500 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,000 | 37,500 | 0 | 37,600 | 39,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,000 | 36,500 | - 400 | 37,100 | 39,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,900 | 34,700 | 35,100 | - 200 | 35,200 | 36,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,900 | 36,100 | 36,000 | - 200 | 36,600 | 37,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,500 | 38,000 | + 200 | 37,900 | 39,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 37,000 | -300 | 37,200 | 38,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,200 | 37,000 | 37,400 | - 300 | 38,100 | 39,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,300 | 37,300 | 38,300 | 0 | 38,600 | 40,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
