Go to List

Daily Update: Indian Semis Offers Decline Further

...

Semi Finished

BigMint Bureau

1067 Reads

18 Jun 2019, 18:25 IST

Daily Update: Indian Semis Offers Decline Further

Indian steel prices in a free-fall mode amidst rising stock with the mid sized mills due to limited spot trades.

As per daily assessment, the Billet & Sponge iron prices fell by INR 100-500/MT, meanwhile Rebar prices down by INR 100-300/MT.

The prices sharply drop in Central India by INR 300-500/MT, while in rest of regions it plunge by INR 100-200/MT, day on day.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 28,700-32,700/MT (USD 411-469) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 17,100-18,000/MT (USD 245-258); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 18th June 2019 (Tuesday) INR to USD exchange rate stood at INR 69.66.

-- ICEX (Indian Commodity Exchange Ltd) Jul'19 contract for STEELLONG today open at INR 32,400/MT & last traded (IST 18:22) at INR 32,200/MT.

-- BSE Sensex closed at 39,046(+85) on Tuesday, as against last day (Monday) at 38,960(-491).

-- NSE Nifty50 index was closed today at 11,691(+19) & Nifty Metal at 2,874(+14).

Raw Materials

-- East India based pellet maker Brahmani River Pellets Ltd (BRPL) has recently concluded export deal to China for 50,000 MT pellet (Fe 64% and 3% Al) at around USD 131/MT, CFR China.

-- Melting scrap offers in Western India- Gujarat decline by INR 300/MT in a day trade activities.

Semi Finished

-- Neo Metaliks in Durgapur is offering steel grade pig iron at INR 27,300-27,500/MT ex-plant.

-- SAIL has floated export tender for prime mild steel non-alloy concast blooms of 10,800-13,500 MT. The last date for bid submission is 19 Jun'19.

-- Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 17,000-17,100/MT - Sources.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 17,800/MT & Billet at INR 28,800/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,300/MT ex-Bellary, offers decline by INR 200/MT from the last trade; an official reported.

-- BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 18,000/MT & INR 18,300/MT ex-plant, Karnataka; an official reported.

Wire Rod & Pipe

-- Trade discounts in Raipur Wire rod slightly increased by INR 100/MT to INR 1,400-1,600/MT amid reduce base price by INR 300/MT to INR 35,700/MT ex-plant. Meanwhile in Durgapur also trade reference price fell by INR 200-300/MT to INR 34,300-34,800/MT ex-plant.

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 36,400/MT ex-plant & excluding GST.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 39,000/MT ex-plant & excluding GST.

Rebar (12 mm)

-- Rathi Steels based in North region is offering at around INR 37,300/MT (ex-Delhi).

-- Raipur based - SPEED TMT is offering at INR 34,000/MT (down by INR 300/MT)..

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) currently offering at INR 34,200/MT(Down by INR 300/MT)

-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 34,300/MT.(Down by INR 300/MT)

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 35,700/MT FoR.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 35,100/MT (down by INR 100/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 18th June 2019

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	25,600	25,500	25,700	- 300	25,700	26,200
	Ex-Mumbai	HMS(80:20)	24,300	24,200	24,400	- 100	24,600	25,100
	Ex-Chennai	HMS(80:20)	22,400	22,300	22,500	- 100	23,300	23,600
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	17,950	17,900	18,000	- 150	18,450	19,700
	Ex-Rourkela	Mix, FeM 80%, +/-1	17,600	17,500	17,700	- 200	18,100	19,000
	Ex-Raipur	Mix, FeM 80%, +/-1	17,800	17,700	17,900	- 200	18,400	19,900
	Ex-Bellary	Lumps, FeM 80%, +/-1	17,800	17,700	17,900	- 100	18,400	19,100
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	16,950	16,900	17,000	- 150	17,450	18,600
	Ex-Raipur	Lumps, FeM 80%, +/-1	16,700	16,600	16,800	- 200	17,200	18,900
	Ex-Bellary	Lumps, FeM 80%, +/-1	17,300	17,200	17,400	- 100	17,900	18,600
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	17,900	17,800	18,000	- 100	18,400	19,100
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	32,500	32,500	32,600	- 300	33,000	34,550
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	29,300	29,200	29,400	- 200	30,000	31,700
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	28,300	28,200	28,400	- 500	28,900	30,700
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	28,600	28,500	28,700	- 350	29,000	31,100
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	30,500	30,400	30,600	- 400	31,400	32,600
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	32,700	32,600	32,800	- 400	33,500	34,900
	Ex-Durgapur	100x100 mm, IS 2831	29,800	29,700	29,900	- 200	30,500	32,200
	Ex-Rourkela	100x100 mm, IS 2831	28,700	28,600	28,800	- 450	29,450	31,050
	Ex-Raipur	100x100 mm, IS 2831	29,200	29,100	29,300	- 350	29,700	31,800
	Ex-Ahmedabad	100x100 mm, IS 2831	31,850	31,800	31,900	- 250	32,150	33,200
	Ex-Mumbai	100x100 mm, IS 2831	30,700	30,600	30,800	- 400	31,600	33,000
	Ex-Chennai	100x100 mm, IS 2831	30,300	30,200	30,400	0	31,000	32,000
	Ex-Hyderabad	100x100 mm, IS 2831	29,800	29,800	30,000	- 200	30,400	32,300
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	36,600	36,400	36,800	- 200	37,000	37,800
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	34,600	34,400	34,800	0	35,300	37,100
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	33,800	33,700	34,000	- 200	34,000	35,400
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	33,900	33,800	34,100	- 100	34,300	35,900
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	35,700	35,600	35,900	- 100	36,000	36,900
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	34,000	33,800	34,200	0	34,300	36,000
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	34,500	34,300	34,800	- 100	35,500	37,500
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	34,900	34,200	35,700	- 300	35,500	37,200