Daily Update: Indian Semis Offers Rise Sharply
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Indian Steel prices gain sharply in the week opening over good demand from the domestic buyers. As per assessment on day trade activities, the mid sized mills have raised prices by INR 400-1,200/MT (USD 6-17).
The Sponge iron prices have increased sharply in Central region by INR 700-800/MT and Billet by INR 800-1,200/MT in across major markets in India. Meanwhile the Rebar prices climb by INR 400-1,000/MT and majorly in Central part by INR 1,000/MT, day-on-day.
Market expects, domestic steel prices to remain strong as deals are healthier with the rally prices.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 32,700-35,900/MT (USD 460-505) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,300-22,500/MT (USD 300-316); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 11th February 2019 (Monday) INR to USD exchange rate stood at INR 71.15.
-- ICEX (Indian Commodity Exchange Ltd) Mar'19 contract for STEELLONG today open at INR 34,890/MT & last traded (IST 18:36) at INR 35,650/MT.
-- BSE Sensex closed at 36,395(-151) on Monday, as against last day (Friday) at 36,546(-424).
-- NSE Nifty50 index was closed today at 10,888(-54).
Raw Materials
-- Raigarh, Central India based a integrated plant has offered pellet at INR 7,500-7,700/MT ex-plant.
-- Melting scrap offers in Southern India- Chennai incline by INR 400/MT in a day trade activities.
-- Local manufacturers in Central India offered 60-14 Silico Manganese at around INR 66,500-67,000/MT ex-plant.
Semi Finished
-- Indian mid size mills export offers to Nepal sharply surge by USD 25-30/MT in a week and the offers for commercial grade Billet is hovering at USD 470/MT & Wire rod (5.5 mm) at USD 545-550/MT ex-mill at Durgapur, eastern India.
-- Raipur, Central India based Integrated plants offers increased by INR 700-800/MT, offering Sponge P-DRI at INR 21,700-21,900/MT & Sponge DR CLO grade at INR 23,500-23,800/MT ex-plant.
-- Rashmi Metaliks in Durgapur has increased sponge prices by around INR 300/MT and today offers for P-DRI heard at around INR 20,800-20,900/MT-Sources.
-- Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 21,800/MT & Sponge mix material (60:40) at INR 21,400/MT ex-plant.
-- Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 34,000/MT ex-plant, an official reported.
-- BIOP Steels in South India has increased sponge prices by INR 500-600/MT, offering FeM 80 & 82 C-DRI lumps at INR 21,100/MT & INR 21,600/MT ex-plant, Karnataka; an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 22,000/MT & Billet at INR 35,500/MT ex-plant.
-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 82 P-DRI at INR 21,500-21,700/MT ex-plant, an official reported.
Wire Rod & Pipe
-- Jharkhand, eastern India based mills offering blast furnace grade Wire rod (5.5-6.0 mm) at around USD 575-580/MT CNF Nepal (Raxaul or Jogbani border).
-- Raipur based wire rod manufacturers increased offers by INR 700/MT and trade discount through manufacturers/suppliers is around INR 300/MT. The offers for 5.5 mm wire rod is hovering around INR 40,900/MT ex-Raipur & INR 39,200-39,500/MT ex-Durgapur.
-- Mandi Gobindgarh, North India based ERW pipe manufacturers increased prices by INR 500/MT & offers reported at around INR 42,000/MT ex-plant & excluding GST.
-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 41,000/MT ex-plant. (basic & excluding GST).
-- Raipur, Central India based ERW pipe manufacturers increased prices by INR 800/MT & offers reported at around INR 40,200-40,400/MT ex-plant & excluding GST.
Rebar (12 mm)
-- Steel Authority of India Ltd (SAIL) is offering rebar at around INR 39,500-39,700/MT (ex-Bhilai,).
-- Raipur based - SPEED TMT offering at INR 37,900/MT (Up by INR 700/MT).
-- Shreeyam Power & Steel Industries Ltd. (National TMT) offering at INR 39,700/MT FoR (Up by INR 300/MT), Gujarat.
-- Gujarat based Akshar Ispat Ltd. (Akshat TMT) current offering at INR 39,700/MT FoR.
-- Gujarat based, Mono Steel (India) Ltd. (Mono TMT) current offering around INR 39,700/MT FoR (Up by INR 300/MT).
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 39,200/MT (Up by INR 1,000/MT).
-- Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) offering at INR 39,400/MT (Up by INR 800/MT).
-- Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) current offering at INR 39,000/MT.
Note - Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 11th February 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,800 | 26,700 | 26,900 | - 100 | 26,200 | NA |
| Ex-Mumbai | HMS(80:20) | 25,800 | 25,700 | 25,900 | + 200 | 25,300 | 25,200 | |
| Ex-Chennai | HMS(80:20) | 25,400 | 25,200 | 25,600 | + 400 | 24,500 | 24,300 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,100 | 22,000 | 22,200 | + 400 | 20,700 | 20,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | + 300 | 19,600 | 19,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,500 | 22,400 | 22,700 | + 500 | 20,500 | 20,150 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | + 600 | 19,400 | 19,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,800 | 20,700 | 20,900 | + 300 | 19,500 | 19,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,700 | 21,600 | 21,900 | + 700 | 19,400 | 18,650 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 400 | 19,100 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | + 600 | 19,500 | 19,500 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | + 700 | 34,300 | 33,700 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,500 | 33,400 | 33,600 | + 400 | 31,800 | 30,600 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,400 | + 1,100 | 30,800 | 29,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,150 | 34,100 | 34,200 | + 1,100 | 31,300 | 30,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | + 800 | 34,000 | 33,000 | |
| Billet | Ex-Mandi Gobindgarh | 100x100 mm, IS 2831 | 36,700 | 36,600 | 36,800 | + 800 | 34,700 | 33,900 |
| Ex-Durgapur | 100x100 mm, IS 2831 | 34,000 | 33,900 | 34,100 | + 400 | 32,300 | 31,100 | |
| Ex-Rourkela | 100x100 mm, IS 2831 | 34,000 | 33,900 | 34,100 | + 1,200 | 31,400 | 30,400 | |
| Ex-Raipur | 100x100 mm, IS 2831 | 35,100 | 35,000 | 35,200 | + 1,000 | 32,400 | 31,300 | |
| Ex-Ahmedabad | 100x100 mm, IS 2831 | 35,800 | 35,800 | 36,000 | + 600 | 34,100 | 33,600 | |
| Ex-Mumbai | 100x100 mm, IS 2831 | 36,200 | 36,100 | 36,300 | + 800 | 34,200 | 33,200 | |
| Ex-Chennai | 100x100 mm, IS 2831 | 35,200 | 35,200 | 35,500 | + 700 | 32,800 | 32,600 | |
| Ex-Hyderabad | 100x100 mm, IS 2831 | 35,500 | 35,400 | 35,600 | + 1,000 | 32,500 | 32,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,100 | 39,000 | 39,400 | + 400 | 37,400 | 37,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,500 | 38,400 | 38,700 | + 500 | 36,600 | 36,000 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,600 | 37,900 | + 1,000 | 35,100 | 35,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,500 | 39,000 | + 400 | 37,200 | 36,700 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,300 | + 700 | 36,900 | 36,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | + 800 | 36,500 | 37,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 39,400 | 39,200 | 39,600 | + 800 | 37,100 | 36,800 |
| Ex-Raipur | Wire Rod(5.5 MM) | 40,900 | 40,600 | 40,900 | + 700 | 38,000 | 38,100 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
