Daily Update: Indian Semis Offers Increase
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Indian Iron & Steel market have find support after a significant fall since beginning of Nov'18. As per assessment, on day trade activities the prices surge by INR 100-700/MT (upto USD 10), in which Billet prices increased by INR 200-700/MT, Sponge iron by INR 100-200/MT & Rebar by INR 100-300/MT in major markets.
As per industry participants, domestic demand for Finished steel has slightly gain, this led to support Semis market.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,700-34,800/MT (USD 439-499) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,400-21,600/MT (USD 292-309); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 29th November 2018 (Thursday) INR to USD exchange rate stood at INR 69.84
-- BSE Sensex closed at 36,170(+453) on Thursday, as against last day (Wednesday) at 35,716(+203).
-- NSE Nifty50 index was closed today at 10,858(+129).
Raw Materials
-- Rungta Mines - India's largest private merchant miner produced 1.97 MnT iron ore from its mines in Odisha in Oct'18, up two folds M-o-M as against 0.98 MnT in Sep'18.
-- Central India (Raipur) based pellet manufacturers have concluded a bulk deal of 50,000 MT pellets of Fe 63.5% at an average price of around INR 6,200/MT (ex-Raipur, GST extra) and immediate delivery.
-- According to reports, Arcelor Mittal is planning to build up a new integrated steel facility of capacity 3-6 MnT at Paradip port in Odisha.
-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 327/MT, CFR Nhava Sheva, Offers decline by USD 3/MT W-o-W.
-- Local manufacturers in Raipur & Raigarh, Central India offered 60-14 Silico Manganese at around INR 68,500/MT ex-plant.
Semi Finished
-- Indian medium mills export offers to Nepal hovering at USD 445-450/MT for Billet & USD 530-535/MT for Wire rod (5.5 mm) ex-mill at Durgapur. Buying interest remains weak, as per participants.
-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 20,000-20,200/MT & Sponge DR CLO grade at INR 22,200-22,400/MT ex-plant
-- Odisha based manufacturer, KJS Ahluwalia offered Billet at INR 30,500/MT & Sponge mix material FeM 80 at INR 20,500/MT ex-plant.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered C-DRI FeM 80 at INR 20,800/MT & Billet at INR 30,700-30,800/MT ex-plant.
-- Govindam Sponge, an Odisha based plant offered Sponge mix material FeM 80 at INR 21,000/MT & fines at INR 20,700-20,800/MT ex-plant.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,800/MT ex-Bellary, offers decline by INR 500/MT from the last trade; an official reported.
-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 20,600/MT & INR 21,000/MT ex-plant, Karnataka; an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 21,200/MT & Billet at INR 32,800/MT ex-plant.
-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI at INR 20,200/MT & Billet at INR 33,000/MT. Also offering 28 MM Rebar at INR 34,500/MT. All prices are ex-plant & excluding GST.
Wire rod & Pipe
-- Raipur based wire rod manufacturers reduced offers by INR 300/MT and trade discount through the manufacturers/suppliers hovers at INR 1,000-1,200/MT. The offers for 5.5mm wire rod is hovering around INR 38,300/MT ex-Raipur & INR 37,500-37,800/MT ex-Durgapur.
-- Rashmi Metaliks has slightly increased wire rod offers and reported at INR 37,400/MT (5.5mm), ex-Kharagpur
-- Mandi Gobindgarh, North India based ERW pipe manufacturers increased prices by INR 600/MT & offers reported at around INR 41,600/MT ex-plant & excluding GST.
-- Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,500/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
-- Rathi Steels based in North region offering at INR 38,150/MT, up by INR 250/MT.
-- Raipur based - SPEED TMT offering at INR 35,000/MT, up by INR 200/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd (National TMT) offering at INR 37,500/MT FoR, up by INR 100/MT.
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 36,500/MT, up by 400/MT.
-- Wada based Bhagwati Ferro Metal (P) Ltd offering at INR 36,700/MT, up by INR 200/MT.
-- Chennai based ARS Steel (Trusteel) unchanged their offering at INR 41,400/MT.
Note - the prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 29th November 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,400 | 26,300 | 26,500 | + 200 | 27,300 | 26,700 |
| Ex-Mumbai | HMS(80:20) | 25,700 | 25,600 | 25,800 | + 200 | 26,500 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 25,800 | 25,700 | 26,000 | 0 | 26,300 | 26,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | + 200 | 22,600 | 22,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 200 | 21,700 | 21,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | + 100 | 22,400 | 22,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | 0 | 20,900 | 21,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | + 200 | 21,550 | 21,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | 0 | 20,800 | 21,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | - 100 | 20,400 | 20,550 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | 0 | 21,000 | 21,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,300 | + 700 | 35,000 | 35,900 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,300 | 31,200 | 31,400 | + 300 | 32,400 | 33,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,350 | 30,300 | 30,400 | + 350 | 31,600 | 32,450 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | + 400 | 32,200 | 32,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,800 | 32,900 | + 300 | 33,600 | 33,000 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | + 700 | 35,600 | 36,600 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 250 | 32,700 | 33,700 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 30,800 | 30,700 | 30,800 | + 300 | 32,100 | 32,900 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 31,200 | 31,100 | 31,300 | + 400 | 32,650 | 33,500 | |
| Ex-Ahmedabad | 125x125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 200 | 34,400 | 34,200 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 33,000 | 33,000 | 33,100 | + 300 | 33,900 | 33,200 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 34,500 | 35,100 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | + 500 | 34,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 36,900 | 36,700 | 37,000 | + 200 | 38,700 | 38,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,800 | 36,600 | 37,000 | + 100 | 38,100 | 39,100 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,900 | 34,800 | 35,100 | + 200 | 36,000 | 36,300 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,100 | 36,600 | + 100 | 37,100 | 36,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,300 | 38,700 | 0 | 39,000 | 39,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 38,000 | 38,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 37,700 | 37,500 | 37,900 | + 300 | 38,900 | 40,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,300 | 37,100 | 38,300 | - 300 | 39,300 | 39,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
