Daily Update: Indian Semis Offers Rise Further
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In the week opening, Indian Semi-finished steel offers rise further, Sponge iron by INR 100-500/MT & Billet by INR 300-800/MT; participants reported active demand & short supply of materials which leads to price surge.
In Eastern region - Durgapur power shortage since couple of days resulting short supply of Ingot/Billets. In line Sponge iron, the offers in South India increased by INR 500/MT day-on-day over improved demand from Central region - Raipur. As per participants, recent few bulk deals for Sponge P-DRI made from South to Central region at an average price of INR 21,500-22,000/MT, ex-plant & excluding GST.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 35,500-39,000/MT (USD 507-557) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 22,400-25,500/MT (USD 320-364); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 27th August 2018 (Monday) INR to USD exchange rate stood at INR 70.06.
-- BSE Sensex closed at 38,694(+442) on Monday, as against last day (Friday) at 38,251(-84).
Raw Materials
-- National Mineral Development Corporation (NMDC) has increased base prices in Karnataka e-auctions by INR 150/MT in both lump & fines for the auction.
-- IDCOL has issued three different tenders for tentative sale of 26,400 MT iron ore from its Roida 'C' iron and manganese mines, Keonjhar (Odisha). The due date for bid submission is 29 Aug'18.
-- Spot pellet premium for Fe 65% grade pellets assessed at USD 84.2/DMT, CFR China this week up by USD 7.35/DMT W-o-W against USD 76.85/DMT a week before
-- Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 66,000/MT ex-plant
Semi Finished
-- Indian sponge iron export offers to Bangladesh for lumps of grade FeM 78-80, recorded at USD 360/MT CPT Benapole (dry land port of Bangladesh & India) and USD 380/MT CFR Chittagong, Bangladesh.
-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 24,600-24,700/MT & Sponge DR CLO grade at INR 26,500-26,700/MT ex-plant.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 24,500/MT & billet at INR 35,500/MT ex-plant.
-- Rashmi Metaliks in Durgapur has increased Sponge prices by INR 300/MT and offers for P-DRI heard at around INR 23,800/MT.
-- Raigarh based Singhal Steel offered P-DRI at INR 23,500/MT ex-plant, an official reported. Also, the company is offering C-DRI at INR 24,800/MT ex-plant.
-- BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 500-600/MT to INR 22,000-22,200/MT ex-Bellary, an official reported. An another manufacturer based in bellary namely, Hare Krishna has offered FeM 80 P-DRI at same price on ex-plant basis.
-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 22,600/MT & 23,100/MT ex-plant, Karnataka; an official reported.
-- The latest price assessment for Steel grade Pig iron stood at INR 30,000-30,400/MT ex-Raipur (Central India) & INR 30,100-30,500/MT ex-Durgapur (East region).
-- SteelMint's Pig iron export price assessment stood at USD 365-370/MT FoB India and USD 385-390/MT FoB Black sea.
Finish Long
-- Kalika Steel Alloys in Jalna unchanged their prices d-o-d basis & current offering 28mm rebars at INR 37,000/MT ex-plant & excluding GST.
-- Jalna based rebar manufacturer - SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged their prices on day basis & current offering 28mm rebar at INR 36,800/MT, ex-work & excluding GST.
-- Rathi Steels in North region offering 12mm rebar at INR 42,900/MT, excluding 18% GST.
-- Central region, Raipur based brand - SPEED TMT has increase their prices by around INR 200/MT on day basis and current offering at INR 37,200/MT (28 mm), ex-work & excluding GST.
-- GK TMT based in Central India, increased prices by INR 700/MT & offered 12-25mm rebar at INR 41,500/MT, ex-Raipur & excluding GST.
-- Mumbai, Maharashtra based Guardian TMT has raised rebar prices by INR 400/MT on day basis and current offering 28mm rebar at INR 36,100/MT ex-work & excluding GST.
-- Gujarat based Akshar TMT has increased their prices by INR 300-400/MT on day basis & current offering 20mm rebar at INR 47,600/MT FoR & including GST at 18%.
-- East region based - Baba Smelter Pvt. Ltd has unchanged their Structure offers on day basis & current (125,150 Channel) offering at INR 41,250/MT ex-work & excluding GST.
-- South region - Chennai based manufacturer offered Structure - 40 Angle at INR 40,800/MT on regular payment terms, ex-work & excluding GST.
-- The suppliers in Raipur kept trade discount on Wire Rod more or less unchanged and today's discount at INR 300-600/MT.
Reference prices as on 27th August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,750 | 25,700 | 25,800 | + 50 | 25,200 | 25,000 |
| Ex-Chennai | HMS(80:20) | 24,250 | 24,200 | 24,300 | + 250 | 23,600 | 22,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,800 | 24,700 | 24,900 | + 200 | 24,100 | 21,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 24,400 | 24,300 | 24,500 | + 400 | 22,500 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 25,500 | 25,400 | 25,600 | + 200 | 24,000 | 22,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,400 | 22,300 | 22,500 | + 400 | 20,800 | 19,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,700 | 23,600 | 23,800 | + 200 | 23,100 | 19,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 24,600 | 24,500 | 24,700 | + 100 | 22,800 | 20,350 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,000 | 21,900 | 22,200 | + 500 | 20,000 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 22,200 | 22,100 | 22,300 | + 400 | 20,500 | 19,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,500 | 38,400 | 38,600 | + 700 | 36,800 | 33,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 36,400 | 36,300 | 36,500 | + 800 | 34,500 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | + 400 | 33,000 | 30,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 35,400 | 35,300 | 35,500 | + 500 | 33,300 | 30,550 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,700 | 35,600 | 35,800 | + 500 | 34,200 | 32,050 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,300 | 36,500 | + 800 | 35,500 | 33,600 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | + 500 | 34,700 | 33,200 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 39,000 | 38,900 | 39,100 | + 800 | 37,300 | 34,100 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 36,900 | 36,800 | 37,000 | + 800 | 35,100 | 31,900 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | + 500 | 33,700 | 30,800 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 36,400 | 36,300 | 36,500 | + 500 | 34,300 | 31,400 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | + 300 | 34,400 | 32,350 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 36,800 | 36,800 | 37,000 | + 800 | 36,000 | 34,100 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | + 500 | 35,000 | 33,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 41,200 | 41,000 | 41,500 | + 500 | 39,500 | 37,000 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,700 | + 700 | 38,300 | 35,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,900 | 39,200 | 0 | 37,600 | 34,700 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 39,300 | 38,900 | 39,400 | + 400 | 38,600 | 35,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,600 | 40,400 | 40,800 | + 600 | 40,200 | 38,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | + 500 | 38,500 | 37,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
