Daily Update: Indian Semis Offers Rise Further
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Indian Iron & Steel prices increase further on day trade activities, supported by improved demand from domestic buyers. The participants reported increase local inquiries, this led to surge in prices by INR 100-500/MT in Billet & INR 100-300/MT in Sponge iron.
The major price rise in Billet seen in Western India - Gujarat & Maharashtra by INR 300-500/MT, while in remaining markets it increase by INR 100-200/MT, day-on-day.
Participants believed, prices less likely to significant fall and are expected to volatile or pick gradually.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,800-34,700/MT (USD 441-498) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,500-21,900/MT (USD 294-314); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 30th November 2018 (Friday) INR to USD exchange rate stood at INR 69.71.
-- BSE Sensex closed at 36,194(+23) on Friday, as against last day (Thursday) at 36,170(+453).
-- NSE Nifty50 index was closed today at 10,876(+18).
Raw Materials
-- OMC has scheduled its next iron ore lump e-auction on 03 Dec'18, base prices decreased by INR 400/MT against the previous e-auction conducted on 03 Oct'18.
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC rise slightly & reported at around USD 224/MT FoB Australia.
-- South African RB2 (5500 NAR) coal offers are assessed at USD 61/MT on FoB basis & USD 75/MT CNF India.
Semi Finished
-- Indian Sponge iron export deals concluded close to USD 338/MT CPT Benapole (dry port of India & Bangladesh), equivalent to USD 357-358/MT CFR Chittagong, Bangladesh.
-- Raipur, Central India based Integrated plants offers increased by INR 200-300/MT, offering Sponge P-DRI at INR 20,300-20,400/MT & Sponge DR CLO grade at INR 22,600-22,800/MT ex-plant.
-- Rashmi Metaliks in Durgapur has raised sponge prices by around INR 300/MT and today offers for P-DRI heard at around INR 20,700-20,800/MT - Sources.
-- Raigarh based Singhal Steel offered P-DRI at INR 19,600/MT ex-Raigarh, an official reported. Also, the company offered Billets at INR 31,500/MT FoR Raipur.
-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 20,800-21,000/MT ex-plant & excluding GST.
-- BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 200/MT to INR 19,800/MT ex-Bellary, an official reported.
-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 20,600/MT & INR 21,000/MT ex-plant, Karnataka; an official reported.
Finished Long
-- Vizag Steel (RINL) has reported sharp fall in Wire rod production by 25% M-o-M in Oct'18 and stood at 53,000 MT, as per recent released data by JPC.
-- Raipur based wire rod manufacturers increased offers by INR 200/MT and trade discount through the manufacturers/suppliers assessed at around INR 800-1,200/MT. The offers for 5.5mm wire rod is hovering at INR 38,500/MT ex-Raipur & INR 38,100-38,500/MT ex-Durgapur.
-- Rashmi Metaliks has slightly increased Wire rod offers and reported at INR 38,000/MT (5.5mm), ex-Kharagpur
-- Raipur based ERW pipe manufacturers increased prices by INR 500-600/MT & offers reported at around INR 38,700/MT ex-plant & excluding GST.
Rebar (12 mm)
-- GK TMT based in Central region, Raipur offering at INR 37,700/MT, up by INR 200/MT (10-25mm)
-- Rathi Steels based in North region offering at INR 38,500/MT up by INR 350/MT.
-- Raipur based - SPEED TMT unchanged their offering at INR 35,200/MT.
-- Raigarh based Anjani Steels Limited (Radhe TMT) offering at INR 35,600/MT up by INR 300/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd (National TMT) offering at INR 38,000/MT FoR up by INR 500/MT.
-- Gujarat based, Akshar TMT offering at INR 37,800/MT FoR up by INR 600/MT.
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 36,500/MT.
-- South region based Tulsyan NEC Steel (Tulsyan) unchanged their offering at INR 40,000/MT.
-- South region based - VRKP Steel Industry Pvt Ltd - VRKP tmt unchanged their offering at INR 39,100/MT.
-- Chennai based ARS Steel (Trusteel) unchanged their offering at INR 41,400/MT.
-- East region based - Baba Smelter Pvt. Ltd offering Structure (125,150 Channel) at INR 39,250/MT up by INR 500/MT.
-- East region based - Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5 mm at INR 38,500/MT, up by around INR 700/MT and TMT offering at INR 37,800/MT, up by INR 500/MT, ex-work, excluding GST.
Note - the prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 30th November 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,800 | 26,700 | 26,900 | + 400 | 27,000 | 26,900 |
| Ex-Mumbai | HMS(80:20) | 25,800 | 25,700 | 25,900 | + 100 | 26,500 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 25,900 | 25,800 | 26,000 | + 100 | 26,300 | 26,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | + 200 | 22,350 | 23,100 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,800 | 21,000 | 0 | 21,600 | 22,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | + 300 | 22,300 | 22,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | + 100 | 20,800 | 21,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,700 | 20,600 | 20,800 | + 200 | 21,350 | 22,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | + 200 | 20,750 | 21,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 100 | 20,300 | 20,500 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 100 | 20,800 | 21,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | - 100 | 34,850 | 36,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,500 | + 100 | 32,100 | 33,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,500 | 30,400 | 30,500 | + 150 | 31,400 | 32,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | 0 | 31,850 | 32,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | + 300 | 33,500 | 33,300 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 34,700 | 34,600 | 34,800 | - 100 | 35,450 | 36,800 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 31,700 | 31,600 | 31,800 | + 100 | 32,500 | 34,000 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 30,900 | 30,800 | 31,000 | + 100 | 31,700 | 33,200 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 31,300 | 31,200 | 31,400 | + 100 | 32,300 | 33,700 | |
| Ex-Ahmedabad | 125x125 mm, IS 2831 | 33,500 | 33,400 | 33,500 | + 500 | 34,150 | 34,500 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 33,300 | 33,200 | 33,400 | + 300 | 33,700 | 33,500 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 34,500 | 35,000 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 33,000 | 32,500 | 33,000 | 0 | 33,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,400 | + 400 | 38,200 | 38,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,300 | + 300 | 37,800 | 39,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,100 | 35,000 | 35,200 | + 200 | 35,700 | 36,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,100 | 36,600 | 0 | 37,000 | 37,000 | |
| 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) | 38,200 | 38,000 | 38,400 | + 500 | 38,600 | 40,000 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,500 | 37,500 | 38,500 | + 200 | 39,100 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
