Daily Update: Indian Semis Offers Decline Over Limited Inquiries
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Indian Steel prices slump today through the mid size mills owing to limited spot trades, although participants believed that market soon to recover on account of lessened margins, stability in raw materials and expected improve demand for finished steel products following end of assembly elections in major states.
On day trade activities the prices fall by around INR 100-400/MT in Rebar, INR 200-500/MT in Billet & INR 100-300/MT in Sponge iron.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,700-34,400/MT (USD 426-478) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,800-21,800/MT (USD 288-303); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 10th December 2018 (Monday) INR to USD exchange rate stood at INR 71.93.
-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 34,620/MT & last traded (IST 18:22) at INR 34,230/MT.
-- BSE Sensex closed at 34,959(-713) on Monday, as against last day (Friday) at 35,673(+361).
-- NSE Nifty50 index was closed today at 10,488(-205).
Raw Materials
-- NMDC has reduced base prices in Karnataka e-auctions by INR 200/MT in fines & INR 100/MT in lumps for Dec'18.
-- South African RB2 (5500 NAR) coal offers are assessed at USD 62/MT on FoB basis & USD 76/MT CNF India.
Semi Finished
-- RSP (Rourkela Steel Plant) tender held today (10th Dec'18) for sale of about 8,400 MT steel grade pig iron have received good response. The base price of the tender was at INR 27,950/MT and the total quantity have been sold out at INR 28,100-28,200//MT (Ex-plant).
-- Raipur, Central India based Integrated plants offers decreased by INR 100/MT, offering Sponge P-DRI at INR 20,300-20,400/MT & Sponge DR CLO grade at INR 22,900-23,100/MT ex-plant.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,500-20,600/MT & Billet at INR 30,600/MT ex-plant.
-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 20,700/MT & 21,100/MT ex-plant, Karnataka; an official reported.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 20,200/MT ex-Bellary, an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 21,300/MT & Billet at INR 33,300/MT ex-plant.
-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 21,000/MT & INR 33,000/MT. Also offering 28 MM Rebar at INR 35,000/MT. All prices are ex-plant & excluding GST.
Finished Long
-- Raipur based wire rod manufacturers reduced offers by INR 200/MT and trade discount through the manufacturers/suppliers increased to around INR 900-1,000/MT. The offers for 5.5mm wire rod is hovering around INR 38,600/MT ex-Raipur & INR 37,800/MT ex-Durgapur.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers reduced prices by INR 200/MT & offers reported at around INR 41,000/MT ex-plant & excluding GST.
Rebar (12 mm)
-- Rathi Steels based in North region reduced their offering to INR 38,500/MT, discount extra.
-- Raipur based - SPEED TMT offering at INR 35,400/MT, down by INR 200/MT
-- Mumbai based Guardian TMT offering at INR 36,500/MT, down by INR 300/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) unchanged their offering at INR 38,200/MT FoR.
-- Jalna based Kalika TMT offering at INR 37,100/MT, down by INR 200/MT.
-- Chennai based ARS Steel (Trusteel) reduced offering to INR 40,000/MT.
-- East region based - Baba Smelter Pvt. Ltd offering unchanged, Structure (125,150 Channel) at INR 38,750/MT.
Note - the prices mentioned above based on ex-work and excluding GST and changes are placed on day basis.
Reference prices as on 10th December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,500 | 26,400 | 26,600 | - 100 | 26,600 | 27,700 |
| Ex-Mumbai | HMS(80:20) | 26,100 | 26,000 | 26,200 | - 100 | 25,700 | 25,700 | |
| Ex-Chennai | HMS(80:20) | 24,900 | 24,800 | 25,000 | 0 | 25,300 | 26,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | - 300 | 21,500 | 23,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,600 | - 100 | 20,700 | 22,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,800 | 21,700 | 21,900 | - 100 | 21,700 | 22,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,800 | 0 | 20,500 | 21,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | - 300 | 20,500 | 22,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | - 100 | 20,200 | 21,150 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 19,800 | 21,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,000 | 20,800 | 21,000 | + 200 | 20,300 | 21,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,100 | 34,000 | 34,200 | - 550 | 34,550 | 36,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,900 | - 400 | 31,250 | 33,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,400 | 30,300 | 30,400 | - 200 | 30,400 | 32,500 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,750 | 30,700 | 30,800 | - 350 | 30,800 | 33,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,700 | 33,000 | - 300 | 32,900 | 34,300 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | - 500 | 34,950 | 36,800 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 31,300 | 31,200 | 31,400 | - 400 | 31,600 | 33,900 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 30,700 | 30,600 | 30,800 | - 200 | 30,700 | 33,100 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 31,350 | 31,300 | 31,400 | - 350 | 31,200 | 33,600 | |
| Ex-Ahmedabad | 125x125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | - 300 | 33,200 | 34,900 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | - 200 | 33,100 | 34,600 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 33,200 | 33,100 | 33,300 | - 150 | 33,800 | 35,300 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 33,000 | 32,500 | 33,000 | 0 | 32,500 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,400 | 37,700 | 0 | 37,400 | 39,400 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,600 | 37,000 | - 200 | 37,000 | 39,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,400 | 35,300 | 35,600 | 0 | 35,000 | 36,600 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,300 | 36,100 | 36,500 | - 300 | 36,400 | 37,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,400 | 37,700 | 0 | 38,200 | 40,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,500 | 37,300 | 37,700 | 0 | 37,000 | 39,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,800 | 37,700 | 38,000 | - 200 | 37,900 | 40,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,600 | 37,800 | 38,600 | - 200 | 38,300 | 40,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
