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Daily Update: Indian Semis Offers Decline Further

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Semi Finished
By
BigMint Bureau
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27 Mar 2019, 18:23 IST
Daily Update: Indian Semis Offers Decline Further

Indian Steel prices further fall owing to weak demand followed by poor off-take in finished steel products. The prices fall by INR 200-400/MT (USD 3-6), day on day, in major markets.

As per participants, finished steel demand continued to remain weak owing to closing of financial year and upcoming elections in the country, which has made buyers cautious for advance bookings.

On day trade activities, Billet prices fall by INR 200-400/MT, Rebar by around INR 200/MT & Sponge iron by INR 200-300/MT in major producing regions

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,900-34,400/MT (USD 447-499) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-19,900/MT (USD 272-288); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 27th March 2019 (Wednesday) INR to USD exchange rate stood at INR 69.01.

-- ICEX (Indian Commodity Exchange Ltd) Apr'19 contract for STEELLONG today open at INR 33,740/MT & last traded (IST 18:14) at INR 33,670/MT.

-- BSE Sensex closed at 38,132(-100) on Wednesday, as against last day (Tuesday) at 38,233(+424).

-- NSE Nifty50 index was closed today at 11,445(-38).

Raw Materials

-- India's crude steel output fell by 5% to 8.73 MnT in Feb'19 as against 9.18 MnT in the preceding month- WSA.

-- Indian met coke import prices fall by USD 15/MT W-o-W. The 64% CSR and the 62% CSR grades prices are at around USD 345.5/MT and USD 331.50/MT respectively on CNF India basis.

Semi Finished

-- A Govt. owned steel mill had floated a tender for export of 16,200 MT prime mild steel non-alloy concast billet of size 125*125 mm & the tender received participation from about 4 companies and highest bid was heard to be in the range of USD 455-460/MT, FoB India.

-- Indian Sponge iron export deals remained firm and assessed in same range as last week at USD 330/MT CNF Chittagong, Bangladesh.

-- Indian Sponge iron exports down by around 13% in Jan'19 and stood at 69,651 MT as against 79,873 MT during Dec'18.

-- SAIL's Rourkela Steel Plant tender held today (27th Mar'19) to sell about 5,900 MT steel grade pig iron, had received moderate response. The base price for the tender was quoted by RSP at INR 26,450/MT and near about 38% (2,200-2,300 MT) material sold.

-- Raipur, Central India based Integrated plants offers decreased by INR 200/MT, offering Sponge P-DRI at INR 18,400-18,500/MT & Sponge DR CLO grade at INR 20,700-20,900/MT ex-plant.

-- Rashmi Metaliks in Durgapur has decreased sponge prices by INR 100-200/MT and today offers for P-DRI heard at around INR 18,700/MT-Sources.

-- BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 18,700-18,800/MT ex-Bellary, Karnataka.

-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,200/MT & 19,600/MT ex-plant, Karnataka; an official reported.

Wire Rod & Pipe

-- Trade discounts in Raipur Wire rod further increased to INR 1,200/MT as against last day at INR 1,000/MT through the re-sellers. Meanwhile basic prices for 5.5 mm wire rod is hovering at INR 36,500-37,000/MT ex-Durgapur & INR 38,200/MT ex-Raipur.

-- Raipur, Central India based ERW pipe manufacturers decreased prices by INR 200/MT & offers reported at around INR 37,000/MT ex-plant & excluding GST.

-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,300/MT ex-plant. (basic & excluding GST). Offers decline by INR 300/MT D-o-D.

Rebar (12 mm)

-- North India based Rathi Steels has unchanged their offers at INR 39,200/MT (Ex-Delhi).

-- Raipur based - SPEED TMT has kept offers unchanged at INR 36,100/MT.

-- Anjani Steels Ltd. (Radhe TMT) is offering at INR 36,000/MT (Raigarh, Central India).

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

-- Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) has unaltered their offers at INR 37,900/MT (Jalna).

-- ARS Steel (ARS 500 D) has unchanged their offers at INR 40,400/MT (Chennai).

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

Reference prices as on 27th March 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,100 26,000 26,200 0 25,800 26,100
Ex-Mumbai HMS(80:20) 25,000 24,900 25,100 0 24,800 25,200
Ex-Chennai HMS(80:20) 24,500 24,400 24,700 0 24,600 25,100
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,900 19,800 20,000 - 200 19,600 19,800
Ex-Rourkela Mix, FeM 80%, +/-1 18,800 18,700 18,800 0 18,700 20,100
Ex-Raipur Mix, FeM 80%, +/-1 19,800 19,700 19,900 - 100 19,800 21,000
Ex-Bellary Lumps, FeM 80%, +/-1 19,100 19,000 19,200 0 19,000 20,200
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,500 18,400 18,600 - 300 18,400 18,600
Ex-Raipur Lumps, FeM 80%, +/-1 18,400 18,400 18,500 - 200 18,600 19,700
Ex-Bellary Lumps, FeM 80%, +/-1 18,700 18,600 18,800 0 18,400 19,900
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,000 19,000 19,200 0 18,800 20,500
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 34,000 33,900 34,100 - 50 33,800 34,550
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 31,100 31,000 31,200 - 300 31,500 31,300
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,500 30,400 30,600 - 100 30,300 31,300
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,800 30,700 30,900 - 200 31,000 32,300
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 33,000 32,900 33,000 - 300 33,000 34,900
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 34,400 34,300 34,500 0 34,100 35,000
Ex-Durgapur 100x100 mm, IS 2831 31,400 31,300 31,500 - 400 31,900 31,800
Ex-Rourkela 100x100 mm, IS 2831 30,700 30,600 30,800 - 200 30,600 31,800
Ex-Raipur 100x100 mm, IS 2831 31,300 31,200 31,400 - 200 31,500 33,000
Ex-Ahmedabad 100x100 mm, IS 2831 33,800 33,700 33,900 - 400 33,850 35,050
Ex-Mumbai 100x100 mm, IS 2831 33,200 33,100 33,200 - 300 33,200 35,100
Ex-Chennai 100x100 mm, IS 2831 32,000 32,000 32,200 - 200 32,850 34,200
Ex-Hyderabad 100x100 mm, IS 2831 32,500 32,400 32,600 0 32,700 34,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,900 37,800 38,100 + 200 37,000 37,600
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 36,500 36,300 36,700 - 200 36,500 36,300
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 36,000 35,900 36,100 0 35,600 36,100
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 37,200 37,000 37,500 0 36,800 38,300
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 37,500 37,400 37,700 0 38,000 38,500
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 36,000 35,800 36,200 0 36,200 37,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 36,700 36,500 36,900 - 200 36,800 37,000
Ex-Raipur Wire Rod(5.5 MM) 38,200 37,000 38,200 0 38,000 39,300

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

27 Mar 2019, 18:23 IST

 

 

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