Daily Update: Indian Semis Offers Decline Over Limited Inquiries
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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
