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Daily Update: Indian Semis Offers Decline Further

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5 Jul 2019, 18:49 IST

Daily Update: Indian Semis Offers Decline Further

Indian spot steel prices slump further on limited trade activities and as per daily assessment the prices drop by INR 100-400/MT with major fall of INR 300-400/MT (USD 4-6) in western region.

In current circumstances supply is excess in merchant market, however demand continued weak in major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 27,400-31,200/MT (USD 400-455) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,700-18,000/MT (USD 243-263); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 5th July 2019 (Friday) INR to USD exchange rate stood at INR 68.52.

-- ICEX (Indian Commodity Exchange Ltd) Aug'19 contract for STEELLONG today open at INR 30,500/MT & last traded (IST 18:45) at INR 30,120/MT.

-- BSE Sensex closed at 39,513(-394) on Friday, as against last day (Thursday) at 39,908(+68).

-- NSE Nifty50 index was closed today at 11,811(-135) & Nifty Metal at 2,851(-111).

Raw Materials

-- NMDC has kept floor prices for upcoming Karnataka e-auctions unaltered in July'19, fines (Fe 63%) base price from Kumaraswamy mines at INR 2,781/MT & Fe 63.8% lump at INR 3,275/MT. All prices mentioned are basic, royalty and other taxes extra.

-- Indian metallurgical coke imports have shown a downfall of 30% in June'19 to 0.25 MnT, as compared to 0.35 MnT in May'19 - CoalMint Research.

-- SteelMint's assessment for containerised Shredded from UK and Europe stands at USD 318-323/MT, CFR Nhava Sheva, up USD 5-7/MT against last week.

-- Melting scrap offers in Western India- Gujarat decline by INR 500/MT in a day trade activities.

Semi Finished

-- Neelachal Ispat Nigam Ltd (NINL)- India's largest and state owned steel grade pig iron manufacturer & exporter has sharply reduced its pig iron prices for steel grade by INR 1,500/MT (USD 22) to INR 25,400/MT(USD 371), w.e.f. 5^th Jul'19.

-- SAIL's Rourkela Steel Plant tender held today (5th July'19) to sell about 3,800 MT steel grade pig iron & had received weak response. The base price for the tender was quoted by RSP at INR 26,600/MT which is down by INR 650/MT (USD 9.5) as against previous auction and near about only 5% (200-300 MT) material sold.

-- Raipur based sponge producers have kept offers unchanged, however trade reference prices drop by INR 200/MT to INR 16,200-16,300/MT ex-plant, for P-DRI.

-- Major sponge producers in Durgapur have further slash prices by INR 200-300/MT to INR INR 17,000/MT for P-DRI.

-- Mesco Steels in Jajpur, Odisha has reduced steel grade pig iron prices by INR 500/MT to INR 25,300-25,400/MT ex-plant. Landed cost to Raipur, Central India learned at around INR 26,500-26,600/MT FoR.

-- Odisha based manufacturer, KJS Ahluwalia offered billet at INR 27,500/MT ex-plant. And also offering Fem 80 Sponge mix material at INR 16,700/MT ex-plant. Also offering sponge lumps at INR 17,500/MT (USD 255) loaded to wagon for Nepal.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,800/MT & Billet at INR 27,500/MT ex-plant.

-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at INR 16,500-16,600/MT, ex-plant & excluding GST.

-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 16,300/MT ex-plant, an official reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,300/MT ex-Bellary, offers decline by INR 100-200/MT from the last trade; an official reported.

-- BIOP Steels in South India has decreased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 17,000/MT & INR 17,300/MT ex-plant, Karnataka; an official reported.

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod unchanged at INR 1,300-1,500/MT as base price fell by INR 300/MT to INR 34,400/MT ex-plant. Also Durgapur based mills cut prices by INR 300/MT to INR 32,500-33,300/MT ex-plant.

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 35,500/MT ex-plant & excluding GST. Offers decline by INR 500/MT D-o-D.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 37,200/MT ex-plant & excluding GST. Offers decline by INR 200/MT D-o-D.

Rebar (12 mm)

-- Raipur based - SPEED TMT is offering at INR 32,300/MT (down by INR 300/MT).

-- Real Ispat (GK TMT) is offering at INR 34,700/MT (down by INR 300/MT).

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) has unchanged their offers at INR 32,600/MT.

-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 32,800/MT (down by INR 200/MT).

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 34,600/MT FoR(down by INR 200/MT).

-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 33,500/MT.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT is offering at INR 33,300/MT (down by INR 500/MT).

-- Mumbai based Sun Metallics And Alloy Pvt. Ltd. (SUN TMT) is offering at INR 32,200/MT (down by INR 400/MT).

-- Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is offering at INR 34,800/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 5th July 2019

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	23,000	22,900	23,100	- 500	23,700	25,600
	Ex-Mumbai	HMS(80:20)	22,000	21,900	22,100	- 400	22,400	24,700
	Ex-Chennai	HMS(80:20)	21,600	21,500	21,800	- 200	22,000	23,400
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	18,000	17,900	18,100	- 250	18,000	19,000
	Ex-Rourkela	Mix, FeM 80%, +/-1	16,700	16,600	16,800	- 100	16,900	18,400
	Ex-Raipur	Mix, FeM 80%, +/-1	17,200	17,100	17,300	- 100	17,250	18,900
	Ex-Bellary	Lumps, FeM 80%, +/-1	16,800	16,700	16,800	- 100	16,800	18,800
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	17,000	16,900	17,100	- 250	17,000	18,000
	Ex-Raipur	Lumps, FeM 80%, +/-1	16,200	16,100	16,300	- 200	16,300	17,800
	Ex-Bellary	Lumps, FeM 80%, +/-1	16,300	16,200	16,400	- 200	16,400	18,400
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	16,800	16,700	16,900	- 300	16,900	19,000
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	30,950	30,900	31,000	- 350	31,400	33,800
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	27,600	27,500	27,700	- 200	28,100	30,600
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	26,950	26,900	27,000	- 350	27,300	29,700
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	27,050	27,000	27,100	- 250	27,750	30,000
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	28,800	28,700	28,800	- 300	29,400	31,400
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	31,150	31,100	31,200	- 350	31,600	34,100
	Ex-Durgapur	100x100 mm, IS 2831	28,100	28,000	28,200	- 200	28,600	31,000
	Ex-Rourkela	100x100 mm, IS 2831	27,400	27,300	27,500	- 300	27,700	30,100
	Ex-Raipur	100x100 mm, IS 2831	27,800	27,700	27,900	- 300	28,500	30,600
	Ex-Ahmedabad	100x100 mm, IS 2831	29,450	29,400	29,500	- 350	30,300	32,500
	Ex-Mumbai	100x100 mm, IS 2831	29,000	28,900	29,000	- 300	29,600	31,700
	Ex-Chennai	100x100 mm, IS 2831	29,700	29,500	29,800	0	30,000	31,400
	Ex-Hyderabad	100x100 mm, IS 2831	29,000	28,900	29,100	0	28,500	31,000
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	35,300	35,100	35,500	- 100	35,700	37,200
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	33,300	33,100	33,500	- 200	33,500	35,800
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	32,200	32,000	32,300	- 200	32,400	34,600
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	32,200	32,000	32,400	- 400	32,900	34,600
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	34,700	34,600	34,900	- 200	34,900	36,300
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	32,700	32,500	32,900	- 300	32,700	35,000
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	32,700	32,500	33,200	- 300	33,200	36,100
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	33,700	33,100	34,400	- 300	33,900	35,900