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Daily Update: Indian Semis Offers Rise Marginally

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Semi Finished
By
BigMint Bureau
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13 Mar 2019, 18:31 IST
Daily Update: Indian Semis Offers Rise Marginally

Indian Billet prices gradually rise on day trade activities over slight improved domestic inquiries. The prices surged by INR 100-300/MT in major markets except in Southern India where bearish demand continued down prices and fall close to INR 200-300/MT in a day.

Meanwhile a sharp gain being noticed in Mumbai- Maharashtra Billet prices by INR 600/MT (USD 8.5), day-on-day, on improved demand in rebars, as reported by re-rollers.

Market expects, prices are likely to fluctuate at current levels owing to strong supply and subdued demand. Moreover if raw materials decline further than there is scope for drop in prices.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-34,500/MT (USD 446-496) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-20,100/MT (USD 274-289); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 13th March 2019 (Wednesday) INR to USD exchange rate stood at INR 69.55.

-- ICEX (Indian Commodity Exchange Ltd) Apr'19 contract for STEELLONG today open at INR 34,220/MT & last traded (IST 18:24) at INR 34,140/MT.

-- BSE Sensex closed at 37,752(+216) on Wednesday, as against last day (Tuesday) at 37,535(+481).

-- NSE Nifty50 index was closed today at 11,341(+40).

Raw Materials

-- JSW Steel's iron ore purchases from Karnataka e-auctions increased by 36% to 1.97 MnT in Feb'19 compared to 1.45 MnT in Jan'19.

-- Indian pellet exports for the month of Feb'19 witnessed a decrease of 20% M-o-M to 0.81 MnT, as against 1.02 MnT a month before in Jan'19.

-- Indian metallurgical coal imports have increased by 5.35% to 4.5 million tonnes (MnT) in Feb'19, as compared to 4.27 MnT in Jan'19, as per the latest vessel lineup data compiled by CoalMint Research.

-- Melting scrap offers in Western India- Gujarat incline by INR 200/MT in a day trade activities

Semi Finished

-- Mesco Steels in Jajpur, Odisha is offering Steel grade Pig iron at INR 26,800-26,900/MT ex-plant, as per sources.

-- Pig iron prices in Northern India - Ludhiana are expected to come down, which was recent surge by INR 300-500/MT due to shortage. As per traders, booked material in eastern India is likely to be delivered in the coming week which may improve availability.

-- SAIL has schedule an auction to sale of about 900 MT basic grade Pig iron on 14th Mar'19 from its Rourkela Steel Plant (RSP).

-- Rashtriya Ispat Nigam Limited (RINL) has invited tender for export of 8,127 MT Billets (3 rakes) to Nepal. Interested bidders can submit their bids till 16 Mar'19 at 14:30 hrs.

-- Jindal Steel has reduced offers and reported Pig iron (steel grade) at INR 27,700-27,800/MT & Sponge P-DRI at INR 18,600/MT ex-plant, Raigarh.

-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,600-18,800/MT & Sponge DR CLO grade at INR 21,000-21,200/MT ex-plant.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,200/MT & Billet at INR 30,800/MT ex-plant.

-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 19,100/MT & INR 33,500/MT. Also offering 12 mm Rebar at INR 37,000/MT. All prices are ex-plant & excluding GST.

-- Apple Industries in Bellary (Karnataka) offered Billet at INR 33,200/MT ex-plant. An official reported and added little selling pressure exist over weak finished sales.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,500/MT ex-Bellary, an official reported.

-- BIOP Steels in South India has decreased sponge prices by INR 100-200/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,600/MT & INR 20,000/MT ex-plant, Karnataka; an official reported.

-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 82 P-DRI at INR 19,400-19,600/MT ex-plant, an official reported.

Finished Long

-- Raipur based wire rod manufacturers offers unchanged and trade discount through the manufacturers/suppliers is close to around INR 1,000/MT. The offers for 5.5 mm wire rod is hovering at around INR 38,000/MT ex-Raipur & INR 36,600-36,800/MT ex-Durgapur.

-- Raipur, Central India based ERW pipe manufacturers decreased prices by INR 200/MT & offers reported at around INR 37,100/MT ex-plant & excluding GST.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,800/MT ex-plant & excluding GST.

Reference prices as on 13th March 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 25,700 25,600 25,800 + 200 25,800 26,500
Ex-Mumbai HMS(80:20) 25,300 25,100 25,300 + 100 25,300 26,000
Ex-Chennai HMS(80:20) 25,000 24,800 25,200 + 100 25,300 26,000
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,200 19,100 19,300 + 200 19,700 21,900
Ex-Rourkela Mix, FeM 80%, +/-1 19,100 19,000 19,200 + 100 19,900 21,400
Ex-Raipur Mix, FeM 80%, +/-1 20,100 20,000 20,200 + 100 20,900 22,700
Ex-Bellary Lumps, FeM 80%, +/-1 19,200 19,100 19,300 - 100 20,300 21,600
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,000 17,900 18,100 + 200 18,500 20,800
Ex-Raipur Lumps, FeM 80%, +/-1 18,700 18,600 18,800 0 19,500 21,800
Ex-Bellary Lumps, FeM 80%, +/-1 18,600 18,500 18,700 - 100 20,100 21,000
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,200 19,100 19,300 - 100 20,700 21,500
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 34,200 34,100 34,300 + 50 34,750 35,900
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 31,300 31,200 31,400 + 100 31,700 33,300
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,700 30,600 30,800 0 31,700 33,200
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 31,400 31,300 31,500 + 100 32,200 33,800
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 34,300 34,200 34,400 + 600 34,800 36,300
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 34,500 34,400 34,600 + 100 35,300 36,500
Ex-Durgapur 100x100 mm, IS 2831 31,600 31,500 31,700 + 100 32,200 33,800
Ex-Rourkela 100x100 mm, IS 2831 31,000 30,900 31,100 0 32,000 34,300
Ex-Raipur 100x100 mm, IS 2831 31,900 31,800 32,000 + 300 32,500 34,800
Ex-Ahmedabad 100x100 mm, IS 2831 34,400 34,300 34,500 + 200 35,100 35,850
Ex-Mumbai 100x100 mm, IS 2831 34,500 34,500 34,700 + 600 35,000 36,500
Ex-Chennai 100x100 mm, IS 2831 33,500 33,500 33,700 - 300 34,200 36,000
Ex-Hyderabad 100x100 mm, IS 2831 33,300 33,000 33,500 - 200 34,000 35,200
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,600 37,400 37,800 0 38,000 39,500
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 36,300 36,100 36,500 0 37,100 38,600
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 36,000 35,800 36,100 0 36,600 37,800
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 37,800 37,600 38,100 + 200 38,200 39,700
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 38,400 38,300 38,700 - 100 38,900 40,000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 36,800 36,600 37,000 - 200 37,500 39,000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 36,800 36,600 37,000 + 300 37,200 39,000
Ex-Raipur Wire Rod(5.5 MM) 38,000 37,000 38,000 0 39,500 41,200

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

13 Mar 2019, 18:31 IST

 

 

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