Daily Update: Indian Semis Offers Rise
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Indian Semi finished prices significantly rise on improved domestic inquiries. According to SteelMint assessment prices of Sponge iron increased by INR 100-200/MT & Billet in the range of INR 200-500/MT (USD 3-8) day-on-day.
Today, price assessment for induction furnaces billet size 125x125 mm are stood at INR 32,500-36,000/MT (USD 500-554) and for coal based sponge (78-80 FeM) C-DRI price it was at INR 20,400-21,600/MT (USD 314-332); ex-plant & excluding GST.
On 16th Mar 2018 (Friday) INR to USD exchange rate stood at INR 64.94 & BSE Sensex closed at 33,176(-509).
Key Market Updates:
1. Serajuddin is operating its Balda iron ore mines at barely 50 percent of its available capacity due to issues related to renewal.
2. JSW Steel's iron ore purchases from Karnataka e-auctions stood at 1.32 MnT in Feb'18 up marginally by 4% M-o-M compared to 1.27 MnT in Jan'18.
3. Raipur, Central India based Integrated plants offer increase, offering Sponge P-DRI at INR 19,900-20,000/MT & Sponge DR CLO grade at INR 22,000-22,200/MT ex-plant
4. Sponge iron (C-DRI) premium in Durgapur rise due to less suppliers in material as against Pellet sponge (P-DRI). Currently the Premium for C-DRI is heard in the range of INR 1,200-1,400/MT which was at INR 1,000-1,100/MT couple of weeks ago.
5. Sponge C-DRI 79-80 FeM lumps prices in Mandi Gobindgarh - Punjab hovering at INR 25,000/MT FoR & excluding 18% GST. According to trade participants, Sponge iron sourcing is majorly from Odisha & Jharkhand.
6. JSW Steel has reduced Gas based Sponge iron (DRI) offers to INR 22,000-22,500/MT (USD 338-346) ex-plant, Dolvi Maharashtra.
7. BMM Ispat in South India has kept offers unaltered, offering FeM 80 P-DRI lumps at INR 20,000/MT ex-Bellary, Karnataka.
8. The light size structure manufacturers in Raipur-Central India reported limited stock amid strong inquiries. The purchase sources also stated delay dispatches than the earlier.
9. The medium mills in Durgapur & Raipur receiving strong inquiries for Wire rod exports as the couple of large producers are not taking bookings due to unavailability of material.
10. The medium mills in Raipur receiving healthy bookings for Rebars from South India-Hyderabad as the price gap widened to INR 2,800-3,000/MT on base prices. The freight cost from Raipur to Hyderabad reported at around INR 2,000/MT and offers for 12mm rebars assessed at INR 37,000-37,400/MT ex-Raipur & INR 39,800-40,200/MT ex-Hyderabad & excluding GST.
11. Indian steel mills reported buying interest for Induction grade billet exports for South East Asia at close to USD 530/MT, FoB.
12. Goa based plants have booked 20 ft containerised melting scrap at USD 358/MT, 20 MT loading from West Africa & arrival period would be approximate after couple of months.
Reference prices as on 16th March 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,300 | 21,200 | 21,400 | + 200 | 22,100 | 21,800 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,400 | 20,300 | 20,400 | + 200 | 20,500 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | 0 | 21,600 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | + 100 | 21,100 | 20,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 21,000 | 20,800 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | 0 | 20,000 | 20,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | 0 | 20,400 | 20,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 100 | 20,800 | 20,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,100 | 35,000 | 35,200 | + 300 | 35,200 | 35,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,700 | 32,600 | 32,800 | + 200 | 33,200 | 32,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,600 | + 200 | 31,800 | 31,400 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,250 | 32,200 | 32,300 | + 150 | 32,300 | 32,200 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | + 300 | 34,500 | 34,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,000 | 35,500 | 0 | 36,000 | 34,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,300 | 34,200 | 34,400 | + 500 | 33,800 | 34,000 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 35,800 | 35,700 | 35,900 | + 300 | 36,000 | 35,700 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 33,200 | 33,100 | 33,200 | + 200 | 33,500 | 32,850 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | + 300 | 32,700 | 31,900 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | + 200 | 33,100 | 32,900 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 35,100 | 35,000 | 35,200 | + 200 | 34,700 | 34,700 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | 0 | 36,500 | 35,000 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 34,500 | 34,300 | 34,500 | + 500 | 34,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,300 | 38,100 | 38,500 | + 300 | 38,800 | 38,500 |
| Ex-Durgapur | 12MM | 38,000 | 37,800 | 38,200 | + 300 | 38,300 | 36,800 | |
| Ex-Raipur | 12MM | 37,200 | 37,000 | 37,400 | + 600 | 36,600 | 36,500 | |
| Ex-Mumbai | 12MM | 38,500 | 38,100 | 38,600 | + 100 | 38,700 | 39,200 | |
| Ex-Chennai | 12MM | 40,700 | 40,600 | 41,000 | 0 | 40,500 | 39,000 | |
| Ex-Hyderabad | 12MM | 40,000 | 39,800 | 40,200 | + 300 | 39,800 | 39,400 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
