Go to List

Daily Update: Indian Semis Offers Fall Further Over Limited Inquiries

...

Semi Finished
By
BigMint Bureau
1288 Reads
12 Oct 2018, 18:34 IST
Daily Update: Indian Semis Offers Fall Further Over Limited Inquiries

Indian Steel prices fall further on day trade activities following limited demand from the local buyers and the prices fall by INR 100-700/MT in Billet & INR 100-600/MT in Sponge iron.

The major price corrections was seen in West & Central regions by INR 400-700/MT (USD 6-10), while in remaining markets the price fall is about INR 100-300/MT, day-on-day.

Market expects steel prices to remain under pressure as inventories rising of semis & finished steel products & expected price corrections in raw materials.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 32,800-36,500/MT (USD 445-496) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 22,000-23,000/MT (USD 298-313); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 12th October 2018 (Friday) INR to USD exchange rate stood at INR 73.60

-- BSE Sensex closed at 34,733(+743) on Friday, as against last day (Thursday) at 34,001(-759).

-- NSE Nifty50 index was closed today at 10,472(+237).

Raw Materials

-- Odisha's merchant iron ore miner - Rungta Mines, dispatched the highest quantity of iron ore at 1.53 MnT in Sep'18.

-- As per sources, Odisha govt has issued permits to few mines. Last week on Saturday, it had stopped issuing permits temporarily to some of the major iron ore mines including Serajuddin Mines, KJS Ahluwalia, Kaypee Enterprises for unknown reasons.

-- OMC, state-owned miner recorded a decrease in dispatches at 0.70 MnT in Sep'18, depicting 18% fall as against 0.86 MnT in Aug'18.

-- South African RB2 (5500 NAR) coal offers are assessed at USD 76/MT on FoB basis & USD 92/MT CNF India.

-- Melting scrap offers in Western India- Gujarat declined by INR 500-600/MT in a day trade activities.

-- SteelMint assessed Ferro Silicon prices at INR 93,000/MT (ex-Bhutan) and INR 94,000/MT (ex-Guwahati).

-- Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 73,000/MT ex-plant.

Semi Finished

-- Indian sponge iron export offers to Bangladesh for lumps grade FeM 78-80, recorded at USD 330-335/MT CPT Benapole (dry land port of Bangladesh & India) and USD 350-355/MT CFR Chittagong, Bangladesh.

-- The latest price assessment for Steel grade Pig iron stood at INR 30,400-30,600/MT ex-Raipur (Central India) & INR 28,800-29,000/MT ex-Durgapur (East region). Offers declined by INR 200-600/MT (USD 3-8) W-o-W, owing to limited inquiries on falling steel prices.

-- Raipur, Central India based Integrated plants offers decreased by INR 500-600/MT, offering Sponge P-DRI at INR 21,400-21,600/MT & Sponge DR CLO grade at INR 23,700-23,900/MT ex-plant.

-- Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 33,000/MT ex-plant, an official reported.

-- Raigarh based Singhal Steel offered P-DRI at INR 21,000/MT & C-DRI at INR 22,700/MT ex-Raigarh, an official reported. Also, the company offers Billet at INR 33,600-33,700/MT FoR Raipur.

-- BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 300/MT to INR 21,300-21,400/MT ex-Bellary, an official reported.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 22,200/MT & INR 22,700/MT ex-plant, Karnataka; an official reported.

Finish Long

-- Mandi Gobindgarh, North India based ERW pipe manufacturers decreased prices by INR 600/MT & offers reported at around INR 43,200/MT ex-plant & excluding GST.

-- Central region, Raipur based brand - SPEED TMT reduced their prices by INR 300/MT on day basis and current offering at INR 35,500/MT (28 mm), ex-work & excluding GST.

-- East region based - Baba Smelter Pvt. Ltd has slightly decreased their Structure offers on day basis & current (125,150 Channel) offering at INR 40,250/MT, ex-work & excluding GST.

-- South India - Chennai based ARS Trusteel unchanged their prices on day basis & current offering rebar at INR 42,800/MT (12 mm), ex-plant & excluding GST.

-- Kalika Steel Alloys in Jalna reduced their prices by INR 400/MT d-o-d basis & current offering rebar at INR 36,700/MT (28 mm) ex-plant & excluding GST.

-- Jalna based rebar manufacturer - SRJ Peety Steels Pvt Ltd branding Shree Om TMT slightly decrease their rebar prices by INR 400/MT on day basis and current offering at INR 36,300/MT (28 mm), ex-work & excluding GST.

-- Rathi Steels in North region decreased their prices by INR 500/MT on day basis and current offering at INR 40,500/MT (12 mm), excluding GST.

Reference prices as on 12th October 2018

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,200 26,100 26,300 - 500 26,700 28,300
Ex-Mumbai HMS(80:20) 25,500 25,300 25,600 - 300 26,100 27,350
Ex-Chennai HMS(80:20) 26,500 26,300 26,700 - 200 26,800 25,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 22,500 22,400 22,600 - 100 21,700 24,900
Ex-Rourkela Mix, FeM 80%, +/-1 22,100 22,000 22,200 - 400 22,400 25,400
Ex-Raipur Mix, FeM 80%, +/-1 23,000 22,900 23,100 - 400 23,300 26,700
Ex-Bellary Lumps, FeM 80%, +/-1 22,000 21,900 22,100 - 300 22,400 24,200
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 20,900 20,800 21,000 - 100 20,200 23,800
Ex-Raipur Lumps, FeM 80%, +/-1 21,500 21,400 21,600 - 500 21,900 25,200
Ex-Bellary Lumps, FeM 80%, +/-1 21,400 21,300 21,500 - 300 21,800 23,700
Ex-Hyderabad Lumps, FeM 80%, +/-1 22,200 22,100 22,300 - 100 22,200 24,200
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 35,700 35,600 35,800 - 400 35,500 38,300
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 33,400 33,300 33,500 - 200 33,000 36,400
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 32,300 32,200 32,400 - 400 31,900 35,000
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 32,500 32,400 32,600 - 500 32,450 35,500
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 33,800 33,700 33,900 - 100 34,000 37,400
Ex-Chennai 3.5 x 4.5 Inch, IS 2830 35,400 35,300 35,500 - 100 35,700 37,100
Ex-Hyderabad 3.5 x 4.5 Inch, IS 2830 34,000 33,800 34,200 - 200 34,500 37,200
Billet Ex-Mandi Gobindgarh 125x125 mm, IS 2831 36,500 36,400 36,600 - 400 36,300 38,800
Ex-Durgapur 125x125 mm, IS 2831 33,900 33,800 34,000 - 100 33,400 36,900
Ex-Rourkela 125x125 mm, IS 2831 32,900 32,800 33,000 - 600 32,500 36,000
Ex-Raipur 125x125 mm, IS 2831 33,400 33,300 33,500 - 500 33,300 36,500
Ex-Ahmedabad 125x125 mm, IS 2831 34,000 33,900 34,100 - 700 34,650 37,100
Ex-Mumbai 125x125 mm, IS 2831 34,100 34,000 34,200 - 100 34,300 37,700
Ex-Chennai 125x125 mm, IS 2831 35,900 35,800 36,000 - 100 36,200 37,600
Ex-Hyderabad 125x125 mm, IS 2831 34,300 34,000 34,500 - 200 34,700 37,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 39,200 39,000 39,300 - 200 38,000 40,600
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 38,800 38,600 39,000 - 200 38,300 41,300
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 37,600 37,400 37,700 - 200 37,300 39,400
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 38,600 38,200 38,700 - 500 38,700 41,400
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 41,000 40,800 41,200 - 200 41,500 42,300
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 38,500 38,300 38,700 0 38,500 41,000

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

12 Oct 2018, 18:34 IST

 

 

You have 0 complimentary insights remaining! Stay informed with BigMint
Login Buy Now
Related Insights
;