Daily Update: Indian Semis Offers Decline Further
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Indian steel prices remain on down trend due to limited inquiries of finished products and as per daily assessment, the prices fell by INR 100-400/MT through the mid sized mills.
The major drop in Billet prices marked in Western India by INR 300-400/MT (USD 4-6) followed by INR 100-300/MT in Central, East & Southern regions.
In context to Sponge iron & Rebar, the manufacturers in major markets have reduced prices by INR 100-300/MT, day on day.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,500-34,700/MT (USD 440-502) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,600-19,500/MT (USD 268-282); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 3rd June 2019 (Monday) INR to USD exchange rate stood at INR 69.22.
-- ICEX (Indian Commodity Exchange Ltd) Jul'19 contract for STEELLONG today open at INR 33,740/MT & last traded (IST 18:10) at INR 33,800/MT.
-- BSE Sensex closed at 40,267(+553) on Monday, as against last day (Friday) at 39,714(-117).
-- NSE Nifty50 index was closed today at 12,088(+165) & Nifty Metal at 2,951(+50).
Raw Materials
-- Jindal SAW (West India) has concluded pellet export deal to China for 50,000 MT consisting of Fe 63% (around 1.5% Al) at around USD 116/MT, FoB India for June shipment.
-- NMDC supplied total of 400 ( 1.54 MnT) rakes of iron ore in May'19, up 7% against 374 (1.44 MnT) rakes a month before in Apr'19.
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 203.5/MT FoB Australia & USD 217.05/MT CNF India.
-- South African RB2 (5500 NAR) coal offers are assessed at USD 54.12/MT on FoB basis & USD 67.12/MT CNF India.
-- Melting scrap offers in Western India- Gujarat decline by INR 300/MT in a day trade activities.
Semi Finished
-- TATA Metaliks Limited (TML) - known as the largest foundry grade pig iron manufacturer in Eastern India has rolled over its prices for June'19 deliveries, offering foundry pig iron at INR 32,500/MT (USD 470) & Low Silicon (1-1.5%) pig iron at INR 29,900/MT (USD 432); are ex-plant, Kharagpur, eastern India.
-- Neo Metaliks in Durgapur has reduced steel grade pig iron prices by INR 200/MT to INR 28,300/MT ex-plant.
-- Raipur based plants have offered Sponge P-DRI at INR 18,400-18,500/MT, however deals learned at around INR 18,300/MT; ex-plant.
-- Rashmi Metaliks in Durgapur (Kharagapur) has reduced prices and offered Sponge P-DRI at INR 18,500/MT & Wire rod (5.5 mm) at around INR 36,700/MT, as per sources.
-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 18,600-18,800/MT ex-plant & excluding GST.
-- Raigarh based Singhal Steel offered P-DRI at INR 17,800/MT & Billet at INR 30,500/MT ex-Raigarh, officials reported.
-- Odisha based manufacturer, KJS Ahluwalia offered billet at INR 30,500/MT ex-plant. And also offering FeM 80 Sponge mix material at INR 18,600/MT ex-plant.
-- 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 kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,200/MT & INR 19,600/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
-- Trade discounts in Raipur Wire rod further increased to INR 1,500-1,700/MT, which was close to INR 1,300-1,500/MT during last week. Meanwhile basic prices for 5.5 mm unchanged in Raipur at INR 37,700/MT ex-plant, however it fell in Durgapur by INR 300/MT to INR 36,400-37,000/MT ex-plant.
-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,100/MT ex-plant. (basic & excluding GST).
-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 37,800/MT ex-plant & excluding GST. Offers down by INR 200-300/MT D-o-D.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,000/MT ex-plant & excluding GST.
Rebar (12 mm)
-- Raipur based - SPEED TMT is offering at INR 35,300/MT (down by INR 200/MT).
-- Real Ispat (GK TMT) has unchanged their offers at INR 37,800/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 37,800/MT FoR.
-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 36,400/MT.
-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 36,300/MT.
-- Goa based Kamdhenu TMT is offering at INR 38,300/MT.
-- Chennai based ARS Steel (ARS 500 D) has unaltered their offers at INR 39,600/MT.
-- Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is currently offers at INR 37,000/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 3rd June 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,700 | 25,600 | 25,800 | - 300 | 25,500 | 26,400 |
| Ex-Mumbai | HMS(80:20) | 24,800 | 24,800 | 25,000 | 0 | 24,800 | 25,300 | |
| Ex-Chennai | HMS(80:20) | 23,600 | 23,500 | 23,700 | - 200 | 23,600 | 24,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,500 | 19,400 | 19,600 | - 200 | 19,500 | 19,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | - 100 | 18,700 | 18,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | - 100 | 19,700 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,000 | 18,900 | 19,000 | 0 | 19,100 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,500 | 18,400 | 18,600 | - 100 | 18,300 | 18,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,300 | 18,200 | 18,400 | - 100 | 18,600 | 18,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,600 | 18,500 | 18,700 | - 50 | 19,000 | 18,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | 19,400 | 19,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,150 | 34,100 | 34,200 | + 50 | 33,700 | 34,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | - 100 | 31,100 | 31,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,100 | 30,000 | 30,100 | - 100 | 30,100 | 30,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | - 200 | 30,600 | 31,050 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | - 300 | 31,600 | 33,100 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 34,700 | 34,600 | 34,800 | + 200 | 34,100 | 34,800 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 31,600 | 31,500 | 31,700 | - 100 | 31,500 | 31,850 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 30,600 | 30,500 | 30,700 | - 100 | 30,600 | 31,100 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 31,150 | 31,100 | 31,200 | - 250 | 31,200 | 31,700 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 32,400 | 32,300 | 32,500 | - 400 | 32,200 | 33,000 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 31,700 | 31,600 | 31,800 | - 300 | 31,800 | 33,450 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 31,700 | 31,600 | 31,800 | 0 | 32,000 | 32,100 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 31,500 | 31,400 | 31,600 | - 200 | 31,700 | 32,200 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,400 | 37,200 | 37,600 | 0 | 37,100 | 37,700 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,400 | 36,800 | - 200 | 36,600 | 36,900 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,100 | 35,000 | 35,200 | 0 | 35,300 | 35,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 35,000 | 34,800 | 35,200 | 0 | 35,000 | 36,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,500 | 36,800 | 0 | 36,700 | 37,400 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 35,500 | 35,400 | 35,600 | 0 | 35,800 | 36,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,700 | 36,400 | 37,000 | - 300 | 36,800 | 37,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 36,900 | 36,100 | 37,700 | 0 | 36,800 | 38,300 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
