Daily Update: Indian Semis Offers Decline Over Limited Inquiries
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Indian Semi finished steel offers fall slightly - Sponge iron by INR 100/MT & Billet by INR 100-300/MT. As per market participants, the prices decline on account of limited inquiries.
In current circumstances the Industry participants believe inquiries remains weak due to Election days, hence open quote is awaited and participants are in wait & watch mode.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 32,600-36,200/MT (USD 453-503) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,500-23,100/MT (USD 299-321); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 16th November 2018 (Friday) INR to USD exchange rate stood at INR 71.88
-- BSE Sensex closed at 35,457(+196) on Friday, as against last day (Thursday) at 35,260(+118).
-- NSE Nifty50 index was closed today at 10,682(+65).
Raw Materials
-- Indian origin iron ore fines (Fe 57%) fines was booked for China at around USD 39- 40/MT, CFR China.
-- Sources reported a cargo from Goa for Fe 62% fines sold to China at around USD 67/MT, CFR China.
-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 335/MT, CFR Nhava Sheva
-- Local manufacturers in Raigarh offered 60-14 Silico Manganese at around INR 70,500/MT ex-plant.
Semi Finished
-- Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 31,800/MT & INR 34,500-34,700/MT on FoR basis & excluding 18% GST.
-- As per sources, Rashmi Metaliks in Durgapur has maintained offers & prices for Sponge P-DRI reported at around INR 22,200/MT.
-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 20,700-20,900/MT & Sponge DR CLO grade at INR 23,100-23,300/MT ex-plant
-- Raigarh based Singhal Steel offered P-DRI at INR 20,500/MT ex-Raigarh, an official reported. Also, the company offered Billets at INR 33,200/MT FoR Raipur.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 21,800/MT & Billet at INR 32,800/MT ex-plant. As per officials, trade activities are weak at the offer prices.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 21,000/MT ex-Bellary, an official reported.
-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 21,800/MT & 22,300/MT ex-plant, Karnataka; an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 22,200/MT & Billet at INR 33,700/MT ex-plant.
Wire rod & Pipe
-- Mandi Gobindgarh, North India based ERW pipe manufacturers decreased prices by INR 100/MT & offers reported at around INR 43,200/MT ex-plant & excluding GST.
-- Raipur based wire rod suppliers slightly increased trade discount and today's discount at around INR 900-1,400/MT.
Rebar (12 mm)
-- Rathi Steels based in North region offering at INR 40,000/MT, down by INR 300/MT.
-- Raipur based - SPEED TMT unchanged their offers at INR 36,400/MT.
-- Jalna based Kalika Steel Alloys Pvt Ltd unchanged their offers at INR 37,700/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd offering National TMT at INR 37,700/MT FoR.
-- South region based Tulsyan NEC Steel (Tulsyan) unaltered their offers at INR 41,000/MT.
-- East region based Wire Rod manufacturer - Adhunik Alloys & Pvt Ltd kept offers unchanged; Wire Rod (5.5 mm) at INR 39,400/MT, Rebar at INR 38,800/MT.
Note - Rebar (12 mm) prices mentioned above based on ex-work and excluding GST and changes are placed on day basis.
Reference prices as on 16th November 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,300 | 27,200 | 27,400 | 0 | 27,100 | 27,400 |
| Ex-Mumbai | HMS(80:20) | 26,300 | 26,200 | 26,400 | 0 | 25,700 | NA | |
| Ex-Chennai | HMS(80:20) | 26,800 | 26,700 | 27,000 | 0 | NA | NA | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,100 | 23,000 | 23,200 | - 100 | 23,400 | NA |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | - 100 | 22,200 | NA | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,600 | 22,500 | 22,700 | - 100 | 22,900 | 23,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | - 100 | 21,600 | 22,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,100 | 22,000 | 22,200 | - 100 | 22,300 | NA |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | - 100 | 21,100 | 21,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,600 | 21,000 | - 100 | 20,800 | 21,200 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | 0 | 21,700 | 21,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,350 | 35,300 | 35,400 | - 600 | 36,300 | 36,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,200 | 33,100 | 33,300 | - 100 | 33,800 | NA | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | - 300 | 32,800 | NA | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,500 | - 150 | 33,050 | 33,300 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | - 100 | 34,000 | NA | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 36,150 | 36,100 | 36,200 | - 600 | 37,100 | 37,200 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | - 100 | 34,000 | NA | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 32,700 | 32,600 | 32,800 | - 200 | 33,200 | NA | |
| Ex-Raipur | 125x125 mm, IS 2831 | 33,150 | 33,100 | 33,200 | - 100 | 33,700 | 34,300 | |
| Ex-Ahmedabad | 125x125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | - 250 | 34,600 | 35,200 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | - 100 | 34,300 | NA | |
| Ex-Chennai | 125x125 mm, IS 2831 | 35,100 | 35,000 | 35,200 | + 100 | 35,000 | NA | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | 0 | 35,000 | 35,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,600 | 39,000 | - 100 | 39,100 | 39,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,600 | 39,000 | - 200 | 39,500 | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,200 | 36,400 | - 100 | 36,400 | 37,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | - 200 | 37,600 | NA | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,400 | 39,200 | 39,600 | 0 | NA | 40,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | 0 | 38,500 | 39,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 39,700 | 39,500 | 39,900 | 0 | 40,100 | 40,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 39,900 | 39,000 | 39,900 | - 300 | 40,400 | 40,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
