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Daily Update: Indian Semis Offers Decline Over Limited Inquiries

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Semi Finished
By
BigMint Bureau
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20 Jun 2019, 18:28 IST
Daily Update: Indian Semis Offers Decline Over Limited Inquiries

Indian steel market observed further drop in prices in line with weak demand and strong supply. As per assessment the prices fell in the range of INR 100-700/MT, day on day, through the mid sized mills.

The sharp fall in Billet prices observed in North & Eastern region by INR 600-700/MT, while prices in remaining markets slump by INR 100-400/MT as against last day assessment.

Similarly, Sponge iron prices declined by INR 200-500/MT across regions following drop in Billet prices.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 28,000-32,000/MT (USD 403-461) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,700-17,500/MT (USD 240-252); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 20th June 2019 (Wednesday) INR to USD exchange rate stood at INR 69.40.

-- ICEX (Indian Commodity Exchange Ltd) Jul'19 contract for STEELLONG today open at INR 31,500/MT & last traded (IST 18:24) at INR 31,110/MT.

-- BSE Sensex closed at 39,601(+488) on Wednesday, as against last day (Wednesday) at 39,112(+66).

-- NSE Nifty50 index was closed today at 11,831(+140) & Nifty Metal at 2,940(+53).

Raw Materials

-- JSW Steel's iron ore purchases from Karnataka e-auctions decreased sharply by 50% to 1.08 MnT in May'19 compared to 2.18 MnT in Apr'19.

-- Iron ore dispatches from Chhattisgarh recorded at 2.18 MnT iron ore in May'19, up 30% as against 1.68 MnT in Apr'19.

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

Semi Finished

-- State-run Vizag Steel also known as Rashtriya Ispat Nigam Ltd (RINL) has concluded its Billet export tender to Nepal at around USD 435/MT ex-mill.

-- Raipur based Sponge producers have quoted P-DRI at INR 16,500-16,600/MT, however deals learned at around INR 16,300/MT as competitive offers being quoted from Raigarh at INR 16,300/MT FoR Raipur.

-- Odisha based manufacturer, KJS Ahluwalia offered billet at INR 28,300-28,400/MT ex-plant. And also offering FeM 80 Sponge mix material at INR 17,000/MT ex-plant.

-- Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 29,300/MT ex-plant, an official reported.

-- Shri Hari Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 17,000/MT ex-plant. However as per participants no major buyers at this prices.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,100/MT ex-Bellary, an official reported.

-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 17,500/MT & INR 29,500/MT. Also offering 12 mm Rebar at INR 33,000/MT. All prices are ex-plant & excluding GST.

Wire Rod & Pipe

-- Trade discounts in Raipur Wire rod slightly increased at INR 1,500-1,700/MT with fall in base price by INR 300/MT to INR 35,400/MT ex-plant. Similarly in Durgapur where trade reference prices drop by INR 300-500/MT to INR 33,700-34,200/MT ex-plant.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 38,600/MT ex-plant & excluding GST.

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 36,000/MT ex-plant & excluding GST. Offers decline by INR 400/MT D-o-D.

Rebar (12 mm)

-- Rathi Steels based in North region current offering around INR 36,600/MT (ex-Delhi).

-- Raipur based - SPEED TMT has unchanged their offers at INR 33,700/MT

-- Real Ispat (GK TMT) is offering at INR 36,000/MT (down by INR 300/MT).

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 34,100/MT (down by INR 100/MT)

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 35,500/MT FoR.

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 34,900/MT(down by INR 600/MT).

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 35,000/MT (down by INR 100/MT).

-- Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is offering at INR 36,000/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 20th June 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 24,900 24,800 25,000 - 500 NA 26,300
Ex-Mumbai HMS(80:20) 23,700 23,600 23,800 - 200 24,400 25,000
Ex-Chennai HMS(80:20) 22,400 22,300 22,500 0 23,100 23,600
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,400 17,300 17,500 - 400 18,300 19,800
Ex-Rourkela Mix, FeM 80%, +/-1 17,100 17,000 17,200 - 500 18,000 19,100
Ex-Raipur Mix, FeM 80%, +/-1 17,300 17,200 17,400 - 300 18,200 20,000
Ex-Bellary Lumps, FeM 80%, +/-1 17,500 17,400 17,600 - 200 18,100 19,300
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,400 16,300 16,500 - 400 17,300 18,600
Ex-Raipur Lumps, FeM 80%, +/-1 16,300 16,200 16,400 - 200 17,050 18,900
Ex-Bellary Lumps, FeM 80%, +/-1 17,000 17,000 17,100 - 100 17,500 19,000
Ex-Hyderabad Lumps, FeM 80%, +/-1 17,500 17,400 17,600 - 300 18,100 19,400
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 31,800 31,700 31,900 - 700 32,850 34,400
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 28,800 28,700 28,900 - 200 29,600 31,500
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 27,600 27,500 27,700 - 600 28,900 30,500
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 27,800 27,700 27,900 - 700 29,100 31,000
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 30,000 29,900 30,100 - 350 31,200 32,500
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 32,000 31,900 32,100 - 700 33,200 34,700
Ex-Durgapur 100x100 mm, IS 2831 29,200 29,100 29,300 - 300 30,000 32,000
Ex-Rourkela 100x100 mm, IS 2831 28,100 28,000 28,200 - 600 29,200 30,950
Ex-Raipur 100x100 mm, IS 2831 28,500 28,400 28,600 - 500 29,600 31,700
Ex-Ahmedabad 100x100 mm, IS 2831 31,100 31,000 31,200 - 400 32,300 33,000
Ex-Mumbai 100x100 mm, IS 2831 30,200 30,100 30,300 - 350 31,400 32,750
Ex-Chennai 100x100 mm, IS 2831 30,150 30,100 30,200 - 50 30,800 32,300
Ex-Hyderabad 100x100 mm, IS 2831 29,300 29,300 29,500 - 400 30,000 32,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 36,200 36,000 36,400 - 300 37,000 38,000
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 34,100 33,900 34,300 - 500 35,100 37,300
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 33,400 33,300 33,600 - 200 34,000 35,400
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 33,400 33,300 33,600 - 300 34,300 35,800
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 35,500 35,300 35,700 - 200 35,900 36,900
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 33,200 33,000 33,400 - 300 34,000 36,200
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 33,900 33,700 34,200 - 400 35,000 37,700
Ex-Raipur Wire Rod(5.5 MM) 34,600 33,800 35,400 - 300 35,500 37,200

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

20 Jun 2019, 18:28 IST

 

 

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