Daily Update: Indian Semis Offers Incline
...
Indian steel prices further increased on active buying from the domestic buyers and prices surge near about INR 100-300/MT through the mid size mills on day trade activities.
As per industry sources, prices likely to remain volatile as demand is subdued amid strong supply.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,400-33,900/MT (USD 431-481) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-20,200/MT (USD 270-287); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 11th January 2019 (Friday) INR to USD exchange rate stood at INR 70.48.
-- ICEX (Indian Commodity Exchange Ltd) Feb'19 contract for STEELLONG today open at INR 33,200/MT & last traded (IST 18:18) at INR 33,020/MT.
-- BSE Sensex closed at 36,009(-96) on Friday, as against last day (Thursday) at 36,106(-106).
-- NSE Nifty50 index was closed today at 10,794(-26).
Raw Materials
-- Godawari Power and Ispat Ltd (GPIL), a Raipur based iron pellet maker has resumed pellet movement for 55,000 MT to Vizag port for exports- sources.
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 199/MT FoB Australia & USD 211.25/MT CNF India.
Semi Finished
-- Jindal Steel has offers Steel grade pig iron at around INR 28,200/MT ex-Raigarh & Panther shots at INR 26,300-26,500/MT ex-Angul, Odisha. Bulk purchase discount being offered of INR 300-500/MT on above of 2,000 MT.
-- Tata Metaliks has reduced foundry grade pig iron prices by INR 600/MT to INR 32,500/MT ex-plant, Kharagpur, eastern India.
-- SAIL cuts pig iron prices from its Bhilai Steel Plant (BSP) in Central India and latest offers for steel grade through the sources reported at INR 27,800-28,000/MT ex-plant.
-- Jajpur, Odisha based a integrated plant has offered Pig iron (Steel grade) at INR 26,900-27,100/MT & Billet (100*100 mm) at INR 29,700-29,800/MT ex-plant. As per officials pig iron deals are majorly for Central India - Raipur & Raigarh.
-- Raipur, Central India based Integrated plants have rolled over Sponge P-DRI prices to INR 18,500-18,600/MT ex-plant.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,500/MT & Billet at INR 30,300/MT ex-plant. As per officials, trade activities are weak at the offer prices.
-- Jharsuguda, Odisha based Shyam Metaliks has offered - P-DRI at around INR 18,000/MT & Billet at INR 30,700/MT; ex-plant & excluding GST.
-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,600/MT & 20,000/MT ex-plant, Karnataka; an official reported.
-- BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 18,600-18,700/MT ex-Bellary, Karnataka.
Wire Rod & Pipe
-- Raipur based wire rod manufacturers offers unchanged and trade discount through the manufacturers/suppliers is around INR 800-1,100/MT. The offers for 5.5 mm wire rod is hovering around INR 38,100/MT ex-Raipur & INR 36,700-36,900/MT ex-Durgapur.
-- Rashmi Metaliks wire rod offers reported at INR 36,800/MT (5.5 mm) and rebar is around INR 35,600/MT (12 mm), ex-Kharagpur, east India.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers increased prices by INR 100/MT & offers reported at around INR 39,900-40,000/MT ex-plant & excluding GST.
Rebar (12 mm)
-- Rathi Steels based in North region unchanged their offering at around INR 38,250/MT.
-- Raipur based - SPEED TMT unchanged their offering at INR 35,200/MT.
-- Raigarh based Anjani Steels Ltd. (Radhe TMT) unchanged their offering at INR 35,200/MT.
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 36,900/MT (Up by INR 200/MT).
-- South region based - Prime Gold Int'l Ltd offering at INR 41,000/MT for Bangalore.
-- South region based Tulsyan NEC Steel (Tulsyan) unchanged their offering at INR 38,500/MT.
-- As per sources, a Large Mill is offering rebar in projects in the range of INR 40,500-40,800/MT, ex-Indore.
Note - The prices mentioned above are ex-work, excluding GST & changes are on day basis.
Reference prices as on 11th January 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,600 | 25,500 | 25,700 | - 200 | 25,600 | 26,400 |
| Ex-Mumbai | HMS(80:20) | 25,200 | 25,100 | 25,300 | + 200 | 25,200 | 25,800 | |
| Ex-Chennai | HMS(80:20) | 24,300 | 24,100 | 24,500 | 0 | 24,300 | 24,600 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | + 50 | 20,500 | 20,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | + 50 | 19,800 | 20,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | 0 | 20,500 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | 0 | 19,700 | 20,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,100 | 19,000 | 19,200 | + 50 | 19,300 | 19,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,550 | 18,500 | 18,600 | 0 | 19,000 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,700 | 18,600 | 18,800 | 0 | 19,300 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,500 | 19,400 | 19,600 | 0 | 20,100 | 20,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 33,700 | 33,600 | 33,800 | + 150 | 33,350 | 34,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | + 100 | 30,700 | 30,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 29,900 | 29,800 | 30,000 | + 100 | 29,900 | 30,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | + 200 | 30,350 | 30,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,300 | + 100 | 32,950 | 32,900 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 33,900 | 33,800 | 34,000 | + 150 | 33,700 | 34,300 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 31,000 | 30,900 | 31,100 | + 100 | 31,100 | 31,000 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 30,400 | 30,300 | 30,500 | + 100 | 30,500 | 30,300 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 31,300 | 31,200 | 31,400 | + 200 | 31,100 | 31,250 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 33,600 | 33,500 | 33,700 | 0 | 32,800 | 33,450 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 33,500 | 33,400 | 33,500 | + 100 | 33,150 | 33,200 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 32,800 | 32,600 | 33,000 | 0 | 33,300 | 33,500 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | 0 | 32,500 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 37,300 | 37,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,900 | 35,700 | 36,100 | + 400 | 36,100 | 36,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,000 | 34,700 | 35,200 | 0 | 35,000 | 35,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,400 | 36,900 | + 200 | 36,500 | 36,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 37,400 | 37,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 37,000 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,900 | 36,700 | 37,100 | + 100 | 37,500 | 37,300 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,100 | 37,200 | 38,100 | 0 | 38,200 | 37,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
