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Daily Update: Indian Semis Offers Rise Sharply

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11 Feb 2019, 18:38 IST
Daily Update: Indian Semis Offers Rise Sharply

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

11 Feb 2019, 18:38 IST

 

 

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