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Daily Update: Indian Semis Offers Rise

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BigMint Bureau
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21 Jan 2019, 18:20 IST
Daily Update: Indian Semis Offers Rise

Indian Billet prices marginally increased today by INR 100-300/MT in central, east & northern regions. However it was more or less firm in south & western parts on moderate demand.

In context to Sponge iron, the prices fluctuate by INR 100-200/MT (day-on-day) amid average demand & healthy supply.

Market participants hopeful for volatility in prices as demand of finished products is not upto the mark in major parts of the country.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,400-33,800/MT (USD 426-475) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-20,000/MT (USD 266-281); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 21st January 2019 (Monday) INR to USD exchange rate stood at INR 71.23

-- ICEX (Indian Commodity Exchange Ltd) Feb'19 contract for STEELLONG today open at INR 32,940/MT & last traded (IST 18:14) at INR 32,970/MT.

-- BSE Sensex closed at 36,578(+192) on Monday, as against last day (Friday) at 36,386(+12).

-- NSE Nifty50 index was closed today at 10,961(+54).

Raw Materials

-- Iron ore dispatches from Odisha in Dec'18 witnessed at 6.54 MnT, up by 2% as against Nov'18 dispatches at 6.39 MnT.

-- Karnataka iron ore e-auction sales down by 12% in CY18 & stood at 25.41 MnT as compared to 29 MnT in CY'17.

-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 303/MT, CFR Nhava Sheva.

Semi Finished

-- SAIL's Rourkela Steel Plant tender held on 19th Jan'19 to sell about 5,300 MT steel grade pig iron & had received limited participation. The base price for the tender was quoted by RSP at INR 27,200/MT and only 1,500 MT quantity have been sold out.

-- Jharkhand Ispat is offering Sponge CDRI lumps at INR 19,800/MT, mix material at INR 19,500/MT & Billet at INR 31,200/MT ex-plant. As per officials, inventories are limited.

-- The private pig iron producers in Durgapur & Jharkhand are trading steel grade material at INR 27,000-27,200/MT ex-plant.

-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,300-18,500/MT & Sponge DR CLO grade at INR 20,800-21,000/MT ex-plant.

-- Raigarh based Singhal Steel offered P-DRI at INR 17,900/MT ex-Raigarh & Billet at INR 31,200/MT FoR Raipur, officials reported.

-- Odisha based manufacturers, Mahavir Ferro Alloys offered Billet at INR 30,500/MT ex-plant as per officials

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,300-19,400/MT & Billet at INR 30,400-30,500/MT ex-plant. As per officials, trade activities are weak at the offer prices.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,400-18,500/MT ex-Bellary, offers decline by INR 300/MT from the last trade; an official reported.

-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 18,600-18,800/MT ex-plant, an official reported.

-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,400/MT & 19,800/MT ex-plant, Karnataka; an official reported.

Wire Rod & Pipe

-- Raipur based wire rod manufacturers offer unaltered and trade discount through the manufacturers/suppliers is around INR 900-1,100/MT. Offers for 5.5 mm wire rod is hovering at INR 37,300/MT ex-Raipur & INR 36,000-36,200/MT ex-Durgapur.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers increased prices by INR 300/MT & offers reported at around INR 39,800/MT ex-plant & excluding GST.

-- Hyderabad (South India) based manufacturer Hari Om Pipe Industries Ltd has offered ERW Pipe at around INR 38,500/MT ex-plant. (basic & excluding GST).

Rebar (12mm)

-- As per sources, few large mills are offering rebar at around INR 39,500-40,000/MT, ex-Vijaywada, South India.

-- Rathi Steels based in North region offering at around INR 38,200/MT.

-- Raipur based - SPEED TMT unchanged their offering at INR 34,700/MT.

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) offering at INR 34,900/MT.

-- Gujarat based, Akshar TMT unchanged their offering at INR 37,600/MT FoR.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 36,300/MT.

-- Mumbai based - Vistar TMT offering at INR 36,700/MT (Up by INR 200/MT).

-- Goa based Kamdhenu TMT unchanged their offering at INR 37,800/MT.

-- Chennai based Ponneri Steel Ind. (Triple Power) offering at INR 37,500/MT.

Note - Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.

Reference prices as on 21st January 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 25,700 25,600 25,800 + 100 NA 26,000
Ex-Mumbai HMS(80:20) 24,900 24,800 25,100 0 25,200 25,200
Ex-Chennai HMS(80:20) 24,200 24,000 24,300 0 24,300 24,000
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,900 19,800 20,000 + 50 20,200 19,700
Ex-Rourkela Mix, FeM 80%, +/-1 19,200 19,100 19,300 + 100 19,300 19,800
Ex-Raipur Mix, FeM 80%, +/-1 20,000 19,900 20,100 + 100 20,150 21,000
Ex-Bellary Lumps, FeM 80%, +/-1 19,000 18,900 19,100 - 200 19,100 20,000
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,700 18,600 18,800 + 50 19,100 18,500
Ex-Raipur Lumps, FeM 80%, +/-1 18,400 18,300 18,500 + 100 18,650 19,500
Ex-Bellary Lumps, FeM 80%, +/-1 18,500 18,400 18,600 - 300 18,700 19,600
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,500 19,400 19,600 0 19,500 20,400
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 33,400 33,300 33,500 + 150 33,700 32,850
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 30,600 30,500 30,700 + 250 30,600 29,800
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,000 29,900 30,100 + 100 29,800 29,600
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,400 30,300 30,500 + 100 30,600 30,350
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 32,850 32,800 32,900 - 50 33,000 33,200
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 33,800 33,700 33,900 + 200 33,900 33,000
Ex-Durgapur 100x100 mm, IS 2831 31,100 31,000 31,200 + 300 31,100 30,300
Ex-Rourkela 100x100 mm, IS 2831 30,400 30,300 30,500 + 100 30,400 30,000
Ex-Raipur 100x100 mm, IS 2831 31,300 31,200 31,400 + 200 31,300 30,750
Ex-Ahmedabad 100x100 mm, IS 2831 33,000 32,900 33,100 0 33,600 33,000
Ex-Mumbai 100x100 mm, IS 2831 33,050 33,000 33,100 - 50 33,200 33,400
Ex-Chennai 100x100 mm, IS 2831 32,500 32,400 32,600 0 32,600 33,500
Ex-Hyderabad 100x100 mm, IS 2831 32,000 31,900 32,100 0 32,500 32,300
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,000 36,800 37,200 + 200 37,200 36,800
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 35,500 35,300 35,700 0 36,000 35,200
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 34,600 34,500 34,700 + 100 35,000 34,700
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 36,400 36,100 36,600 0 36,700 36,500
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 36,600 36,400 36,800 0 36,800 37,800
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 36,200 36,000 36,400 - 300 37,000 36,700
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 36,100 35,900 36,300 - 100 36,800 36,600
Ex-Raipur Wire Rod(5.5 MM) 37,300 36,300 37,300 0 38,100 37,800

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

21 Jan 2019, 18:20 IST

 

 

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