Daily Update: Indian Semis Offers Rise Further
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Indian steel prices increased further on active buying from the domestic buyers and prices surge was near about INR 100-500/MT through the mid size mills on day trade activities.
The Rebar prices increased by INR 100-300/MT, Billet by INR 200-500/MT & Sponge iron by INR 100-200/MT.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,900-34,600/MT (USD 433-485) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-20,400/MT (USD 267-286); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 23rd January 2019 (Wednesday) INR to USD exchange rate stood at INR 71.31.
-- ICEX (Indian Commodity Exchange Ltd) Feb'19 contract for STEELLONG today open at INR 33,340/MT & last traded (IST 18:28) at INR 33,520/MT.
-- BSE Sensex closed at 36,108(-336) on Wednesday, as against last day (Tuesday) at 36,444(-134).
-- NSE Nifty50 index was closed today at 10,831(-91).
Raw Materials
-- East India, Odisha based pellet maker - Brahmani River Pellets Ltd (BRPL) has recently concluded export deal to China for 29,100 MT pellets (Fe 64%) and 24,900 MT pellet chips at USD 100/MT and USD 52/MT on FoB basis- Sources.
-- Bhushan Power & Steel's iron ore sourcing from Rungta mines recorded at 0.13 MnT in Dec'18, up 48% on monthly basis as against 0.09 MnT in Nov'18.
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 193/MT FoB Australia & USD 204.7/MT CNF India.
Semi Finished
-- Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 29,700/MT & INR 31,500/MT on FoR basis & excluding 18% GST.
-- Raipur, Central India based Integrated plants offers increased by INR 200/MT, offering Sponge P-DRI at INR 18,800-19,000/MT & Sponge DR CLO grade at INR 21,400-21,500/MT ex-plant.
-- Raigarh based Singhal Steel offered P-DRI at INR 18,100/MT ex-Raigarh & Billet at INR 32,000/MT FoR Raipur, officials reported.
-- Raipur based mills sourcing Sponge iron from Odisha at around INR 20,400/MT FoR Raipur.
-- Govindam Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 19,500/MT & fines at INR 19,200/MT ex-plant.
-- 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 18,400-18,500/MT ex-Bellary, Karnataka.
-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,200/MT & 19,600/MT ex-plant, Karnataka; 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.
-- Bellary, Karnataka based furnace owners offering billet at around INR 32,000/MT on ex-plant basis.
-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 19,200/MT & INR 32,500/MT. Also offering 12 mm Rebar at INR 36,500/MT. All prices are ex-plant & excluding GST.
Finish Long
-- Raipur, Central India based ERW pipe manufacturers increased prices by INR 400/MT & offers reported at around INR 36,800/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).
-- Raipur based wire rod manufacturers increased prices by INR 200/MT and trade discount through the manufacturers/suppliers is around INR 1,000/MT. The offers for 5.5mm wire rod is hovering around INR 37,800/MT ex-Raipur & INR 36,800/MT ex-Durgapur.
-- Rashmi Metaliks increased wire rod offers & reported at INR 36,700/MT (5.5 mm) ex-Kharagpur, east India.
Reference prices as on 23rd January 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,000 | 25,900 | 26,100 | + 100 | 25,800 | 26,000 |
| Ex-Mumbai | HMS(80:20) | 25,100 | 24,900 | 25,200 | + 200 | 25,000 | 25,300 | |
| Ex-Chennai | HMS(80:20) | 24,300 | 24,100 | 24,500 | + 100 | NA | 24,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,100 | 20,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | 0 | 19,400 | 19,800 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 200 | 20,100 | 20,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,100 | 19,000 | 19,200 | + 100 | 19,200 | 20,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | + 200 | 19,000 | 18,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 18,900 | 18,800 | 19,000 | + 200 | 18,550 | 19,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 18,500 | 18,400 | 18,600 | 0 | 18,900 | 19,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 19,400 | 19,300 | 19,500 | 0 | 19,600 | 20,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,150 | 34,100 | 34,200 | + 350 | 33,450 | 33,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | + 300 | 30,550 | 30,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,600 | + 300 | 29,900 | 29,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,900 | 31,100 | + 200 | 30,550 | 30,400 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | + 300 | 33,050 | 33,400 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 34,550 | 34,500 | 34,600 | + 350 | 33,700 | 33,600 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 31,700 | 31,600 | 31,800 | + 300 | 30,950 | 31,000 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 30,900 | 30,800 | 31,000 | + 250 | 30,400 | 30,250 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 32,000 | 31,900 | 32,000 | + 300 | 31,300 | 31,300 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 33,350 | 33,300 | 33,400 | + 150 | 33,250 | 33,200 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 33,300 | 33,200 | 33,400 | + 300 | 33,250 | 33,600 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 32,500 | 32,400 | 32,500 | 0 | 32,600 | 33,500 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 32,500 | 32,400 | 32,600 | + 500 | 32,300 | 32,700 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,500 | + 200 | 37,200 | 36,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 35,800 | 35,600 | 36,000 | 0 | 35,800 | 35,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 34,900 | 34,800 | 35,100 | + 200 | 34,900 | 34,800 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,100 | 36,600 | 0 | 36,400 | 36,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,400 | 36,900 | 0 | NA | 37,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 36,700 | 36,500 | 36,900 | + 200 | 36,700 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,800 | 36,500 | 37,000 | + 200 | 36,700 | 36,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 37,800 | 36,800 | 37,800 | + 200 | 38,100 | 37,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
