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Daily Update: Indian Semis Offers Decline Over Limited Inquiries

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14 Feb 2019, 18:25 IST
Daily Update: Indian Semis Offers Decline Over Limited Inquiries

Indian steel prices slump today by INR 100-500/MT due to limited demand. As per manufacturers, the buyers are cautious looking at higher offers and are waiting for clearer market directions.

As per assessment, on day trade activities Billet prices fall by INR 100-500/MT and majorly in Gujarat & Hyderabad by around INR 400-500/MT. Meanwhile Rebar prices marked fall of INR 100-400/MT & Sponge iron by INR 100-200/MT, day on day.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 33,700-36,500/MT (USD 473-513) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,400-22,600/MT (USD 300-318); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 14th February 2019 (Thursday) INR to USD exchange rate stood at INR 71.12.

-- ICEX (Indian Commodity Exchange Ltd) Mar'19 contract for STEELLONG today open at INR 35,410/MT & last traded (IST 18:24) at INR 35,380/MT.

-- BSE Sensex closed at 35,876(-157) on Thursday, as against last day (Wednesday) at 36,034(-360)

-- NSE Nifty50 index was closed today at 10,746(-47).

Raw Materials

-- NMDC - India's largest iron ore mine production recorded at 3.22 MnT in Jan'19, up 4% as against 3.1 MnT in Dec'18.

-- According to the sources, Karnataka High Court has once again postponed the hearing on NMDC Donimalai lease renewal issue. High Court has adjourned the matter till next date of Feb 25th, 2019.

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 205.75/MT FoB Australia & USD 216.90/MT CNF India.

-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 330/MT, CFR Nhava Sheva, Offers incline by USD 5/MT W-o-W

-- Local manufacturers in Raigarh & Raipur (Central India) offered 60-14 Silico Manganese at around INR 67,000/MT ex-plant.

Semi Finished

-- Jindal Steel has traded steel grade Pig iron at around INR 28,300/MT ex-plant (Raigarh), as per officials.

-- As per suppliers, about 1,000-1,500 MT Induction grade Billet export deals concluded to Nepal at around USD 470-473/MT ex-mill, Durgapur.

-- SAIL has scheduled auction to sale of about 6,100 MT basic grade Pig iron on 16th Feb'19 from its Rourkela Steel Plant (RSP).

-- Raipur, Central India based Integrated plants offers decreased by INR 200/MT, offering Sponge P-DRI at INR 21,600-21,800/MT & Sponge DR CLO grade at INR 23,600-23,700/MT ex-plant.

-- Raipur based mills sourcing Sponge iron from Odisha at around INR 22,600/MT FoR Raipur.

-- Raigarh based Singhal Steel offered P-DRI at INR 20,400/MT ex-Raigarh & Billet at INR 34,700/MT FoR Raipur, officials reported.

-- East India, Odisha based manufacturer, Mahavir Ferro Alloys offered Billet at INR 34,000/MT ex-plant as per officials.

-- Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 34,200/MT ex-plant, an official reported.

-- South India based Amoda iron & steel ltd is offering FeM 75 & 80 C-DRI lump at INR 21,000/MT & INR 22,000/MT ex-plant (Hyderabad).

-- BIOP Steels in South India has decreased sponge prices by INR 300/MT, offering FeM 80 & 82 C-DRI lumps at INR 21,200/MT & INR 21,700/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 35,500/MT ex-plant.

Wire Rod & Pipe

-- Raipur Power and Steel Ltd. offering HB (12 Gauge) at INR 43,600/MT & Raw Pellet at INR 8,000/MT, Ex-Mill & Excluding GST.

-- Raipur (Central India) & Mandi Gobindgarh (North India) based pipe manufacturers kept offers at firm level, offering ERW pipe at around INR 40,300/MT & INR 42,700/MT; prices are ex-plant & excluding GST.

-- Raipur based wire rod manufacturers kept offers unchanged and trade discount through the manufacturers/suppliers is around INR 1,000-1,500/MT. The offers for 5.5 mm wire rod is hovering around INR 41,200/MT ex-Raipur & INR 39,000-39,300/MT ex-Durgapur.

-- State owned - RINL (Vizag Steel) has increased prices today by INR 500/MT (USD 7) in Rebar & Wire rod (for above to 16 mm (large sizes).

Rebar (12 mm)

-- Raipur based - SPEED TMT offering at INR 37,800/MT (Down by INR 200/MT).

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) offering at INR 40,000/MT FoR (Down by INR 200/MT).

-- Gujarat based, Mono Steel (India) Ltd. (Mono TMT) current offering around INR 39,800/MT FoR.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 39,100/MT (Down by INR 200/MT).

-- Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) current offering at INR 39,500/MT.

Note - Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.

Reference prices as on 14th February 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,300 26,200 26,400 - 200 26,800 25,600
Ex-Mumbai HMS(80:20) 25,900 25,800 26,000 - 100 25,500 24,900
Ex-Chennai HMS(80:20) 25,400 25,300 25,600 - 600 24,700 NA
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 21,800 21,700 21,900 - 100 21,500 19,950
Ex-Rourkela Mix, FeM 80%, +/-1 21,300 21,200 21,400 - 100 20,200 19,300
Ex-Raipur Mix, FeM 80%, +/-1 22,600 22,500 22,700 - 100 21,500 20,000
Ex-Bellary Lumps, FeM 80%, +/-1 21,400 21,300 21,500 - 200 20,100 19,100
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 20,700 20,600 20,800 - 100 20,200 18,800
Ex-Raipur Lumps, FeM 80%, +/-1 21,600 21,500 21,700 - 200 20,500 18,400
Ex-Bellary Lumps, FeM 80%, +/-1 20,900 20,800 21,000 - 100 19,900 18,800
Ex-Hyderabad Lumps, FeM 80%, +/-1 21,400 21,300 21,500 - 100 20,300 19,500
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 35,900 35,800 36,000 0 34,850 33,200
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 33,250 33,200 33,300 - 50 32,500 30,400
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 33,000 32,900 33,100 - 200 31,700 29,800
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 33,800 33,700 33,900 0 32,400 30,400
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 36,050 36,000 36,100 - 250 34,700 33,100
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 36,500 36,400 36,600 0 35,250 33,600
Ex-Durgapur 100x100 mm, IS 2831 33,750 33,700 33,800 - 50 33,000 30,800
Ex-Rourkela 100x100 mm, IS 2831 33,900 33,800 34,000 - 400 32,200 30,300
Ex-Raipur 100x100 mm, IS 2831 34,750 34,700 34,800 - 50 33,400 31,100
Ex-Ahmedabad 100x100 mm, IS 2831 35,500 35,400 35,600 - 350 34,350 32,900
Ex-Mumbai 100x100 mm, IS 2831 36,350 36,300 36,400 - 150 34,900 33,300
Ex-Chennai 100x100 mm, IS 2831 35,500 35,500 35,700 - 500 34,000 32,600
Ex-Hyderabad 100x100 mm, IS 2831 35,000 34,900 35,100 - 200 34,000 32,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 39,200 39,000 39,200 - 300 38,100 37,000
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 38,500 38,300 38,700 - 100 37,300 35,500
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 37,600 37,400 37,800 - 200 36,100 34,700
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 39,700 39,500 40,000 0 38,000 36,400
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 39,600 39,400 39,800 - 400 37,500 NA
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 38,500 38,300 38,700 - 500 38,000 36,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 39,000 38,800 39,200 0 37,900 36,400
Ex-Raipur Wire Rod(5.5 MM) 41,200 40,300 41,200 0 39,500 37,600

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

14 Feb 2019, 18:25 IST

 

 

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