Daily Update: Indian Semis Offers Fall Further
...
Indian Steel prices fall further by INR 100-600/MT on day trade activities due to limited inquiries. The participants in major markets reported, thin spot trades & strong supply.
The Billet prices fall majorly in Western India - Gujarat by INR 600/MT (USD 9) & Mumbai by INR 400-500/MT (USD 7), meanwhile in remaining markets it drop by INR 100-300/MT. Similarly the Sponge iron prices fall sharply in Eastern India - Rourkela & Durgapur by INR 300/MT, day on day.
In context to Rebar, the mid sized mills have reduced price range by INR 100-400/MT with major fall of INR 400/MT in Mumbai.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,500-30,000/MT (USD 386-438) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,100-17,400/MT (USD 235-254); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 9th July 2019 (Tuesday) INR to USD exchange rate stood at INR 68.56.
-- ICEX (Indian Commodity Exchange Ltd) Aug'19 contract for STEELLONG today open at INR 29,480/MT & last traded (IST 18:20) at INR 29,260/MT.
-- BSE Sensex closed at 38,730(+10) on Tuesday, as against last day (Monday) at 38,720(-792).
-- NSE Nifty50 index was closed today at 11,555(-2) & Nifty Metal at 2,788(-3).
Raw Materials
-- Orissa Mining Corp. to auction 334,500 MT Iron ore fines on 12th Jul'19. Company hikes base price by Rs 100/t from Gandhamardan & Koira mines, prices remain unchanged for Daitari mines.
-- NMDC iron ore production for the quarter witnessed at 8.46 MnT, up by 23% Y-o-Y, SteelMint learned from sources.
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 188.5/MT FoB Australia & USD 202.25/MT CNF India.
-- South African RB2 (5500 NAR) coal offers are assessed at USD 54.54/MT on FoB basis & USD 67.54/MT CNF India.
-- Melting scrap offers in Western India- Gujarat decline by INR 500/MT in a day trade activities.
Semi Finished
-- Indian Sponge iron export offers hovering at USD 270-275/MT CPT Benapole(dry port of India & Bangladesh), equivalent to USD 290/MT CNF Chittagong, Bangladesh.
-- Durgapur based Rashmi Metaliks has lowered sponge iron prices by INR 300/MT and offers for P-DRI heard at INR 16,400/MT.
-- The sponge manufacturers in Raipur reduced sponge prices by INR 100-200/MT and deals for P-DRI learned at near to INR 15,800/MT ex-plant.
-- As per Ingot/Billet manufacturers in Raipur, steel grade pig iron offers at around INR 26,000-26,200/MT FoR, for above of 1,000 MT purchase.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,200-16,300/MT & Billet at INR 26,500-26,600/MT ex-plant.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,000/MT ex-Bellary, offers decline by INR 200/MT from the last trade; an official reported.
-- BIOP Steels in South India has decreased sponge prices by INR 400/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,600/MT & INR 17,000/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
-- Trade discounts in Raipur Wire rod registered at INR 1,600-1,800/MT and base price at INR 33,700/MT ex-Raipur & INR 31,500-32,300/MT ex-Durgapur.
-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 34,200/MT ex-plant & excluding GST. Offers decline by INR 400/MT D-o-D.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 36,400/MT ex-plant & excluding GST. Offers decline by INR 200/MT D-o-D.
Rebar (12 mm)
-- Raipur based - SPEED TMT is offering at INR 31,500/MT (down by INR 300/MT).
-- Real Ispat (GK TMT) is current offering at INR 33,800/MT (down by INR 200/MT).
-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 31,500/MT (down by INR 500/MT).
-- Gujarat based Diamond TMT is offering at INR 33,800/MT.
-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 32,800/MT.
-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT is offering at INR 32,500/MT (down by INR 300/MT).
-- Chennai based Kamachi Industries Ltd. (KAMACHI TMT) is offering at INR 35,300/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 9th July 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,500 | 22,300 | 22,600 | - 500 | 24,200 | 25,700 |
| Ex-Mumbai | HMS(80:20) | 21,300 | 21,200 | 21,500 | - 300 | 22,500 | 24,600 | |
| Ex-Chennai | HMS(80:20) | 21,200 | 21,100 | 21,400 | - 100 | 22,000 | 23,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,400 | 17,300 | 17,500 | - 300 | 18,500 | 18,450 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | - 300 | 17,100 | 18,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,700 | 16,600 | 16,800 | - 200 | 17,500 | 18,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,500 | 16,400 | 16,500 | - 100 | 16,900 | 18,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,400 | 16,300 | 16,500 | - 300 | 17,500 | 17,450 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,800 | 15,700 | 15,900 | - 100 | 16,600 | 17,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | - 200 | 16,400 | 17,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,400 | 16,300 | 16,500 | - 300 | 17,000 | 18,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 29,900 | 29,800 | 30,000 | - 200 | 31,600 | 33,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,400 | 26,600 | - 400 | 28,500 | 30,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | - 200 | 27,400 | 28,900 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,300 | 26,200 | 26,400 | - 300 | 27,800 | 29,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,400 | 27,300 | 27,500 | - 500 | 29,350 | 31,400 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 30,000 | 29,900 | 30,100 | - 200 | 31,800 | 33,500 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 27,000 | 26,900 | 27,100 | - 400 | 28,900 | 30,500 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 26,500 | 26,400 | 26,600 | - 300 | 27,900 | 29,450 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 26,900 | 26,800 | 27,000 | - 200 | 28,500 | 29,700 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 28,100 | 28,000 | 28,200 | - 600 | 30,600 | 32,150 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 27,650 | 27,600 | 27,700 | - 450 | 29,550 | 31,600 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 29,500 | 29,500 | 29,700 | - 100 | 30,000 | 31,000 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 28,000 | 27,800 | 28,000 | 0 | 29,000 | 30,400 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 34,500 | 34,300 | 34,700 | - 300 | 35,500 | 37,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 32,500 | 32,300 | 32,700 | - 300 | 33,800 | 35,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 31,400 | 31,200 | 31,500 | - 200 | 32,600 | 34,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 31,100 | 30,900 | 31,300 | - 400 | 32,800 | 34,300 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 34,200 | 34,000 | 34,400 | - 100 | 34,900 | 36,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 32,000 | 31,800 | 32,200 | - 200 | 33,000 | 34,300 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 31,700 | 31,500 | 32,300 | - 400 | 33,400 | 35,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 32,800 | 32,000 | 33,700 | - 200 | 34,400 | 35,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
