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Daily Update: Indian Semis Offers Volatile

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Semi Finished

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26 Apr 2019, 18:31 IST

Daily Update: Indian Semis Offers Volatile

Spot steel prices remain volatile following subdued trade activities in domestic market. As per participants, average movement in Semis products, while in finished products stocks have been rise with the mid sized mills.

On daily assessment, the Billet & Rebar prices volatile by INR 100-300/MT, however sponge iron prices slightly fall by INR 100/MT in major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,900-34,500/MT (USD 442-494) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,700-19,600/MT (USD 267-280); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 26th April 2019 (Friday) INR to USD exchange rate stood at INR 69.93/-

-- ICEX (Indian Commodity Exchange Ltd) May'19 contract for STEELLONG today open at INR 33,720/MT & last traded (IST 18:31) at INR 33,570/MT.

-- BSE Sensex closed at 39,067(+336) on Friday, last as against day (Thursday) at 38,730(-323).

-- NSE Nifty50 index was closed today at 11,754(+112).

Raw materials

-- NMDC Ltd, India's biggest iron ore producer, has announced to roll over in it's iron ore prices for May deliveries.

-- Silicon Manganese(60-14) prices in Central India, Raipur stood at INR 66,500-67,000/MT ex-plant.

Semi finished

-- SAIL has offered basic grade (steel grade) pig iron from its Bhilai Steel Plant (BSP) based in Central India at INR 27,600-27,800/MT ex-plant.

-- Neo Metaliks in Durgapur has reduced prices of steel grade pig iron & reported at INR 28,800-29,000/MT ex-plant.

-- Indian's Sponge iron export offers more or less firm and hovering at USD 335/MT CNF Chittagong, Bangladesh.

-- Indian export offers of mid sized mills Billet & Wire rod unaltered day-on-day and evaluated at USD 445/MT for Billet & USD 515-525/MT for Wire rod, ex-mill at Durgapur.

-- As per sources, Rashmi Metaliks in Durgapur has rolled-over sponge prices to INR 18,300/MT (ex-plant) for P-DRI.

-- Integrated plants in Raipur have maintained sponge prices despite no major deals and reported P-DRI at INR 18,600-18,800/MT ex-plant.

Wire rod & Pipe

-- Trade discounts in Raipur Wire rod is hovering at INR 1,000-1,100/MT and basic prices unaltered at INR 37,900/MT ex-plant. Meanwhile it fell by INR 100/MT in Durgapur and reported at INR 36,600-37,300/MT ex-plant.

-- Adhunik Metaliks- one of the renowned mill in Durgapur reported offers for HB wire at INR 39,500/MT ex-plant and no stock for Wire rod as priority to complete dispatches of earlier orders.

-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has roll-over ERW Pipe prices and reported at INR 39,300/MT ex-plant. (basic & excluding GST).

Rebar (12mm)

-- North region, U.P based - Gallant Ispat Ltd. is current offering at INR 38,400/MT.

-- Raipur based - SPEED TMT has unchanged their offers at INR 35,800/MT.

-- Real Ispat (GK TMT) has unchanged their offers at INR 37,800/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 38,500/MT FoR (down by INR 200/MT).

-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is current offering at INR 37,300/MT.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 37,200/MT.

-- Mumbai based Guardian Castings Pvt. Ltd. (Guardian TMT) has unchanged their offers at INR 37,200/MT.

Note - The prices mentioned above are ex-work, excluding GST & changes are on day basis.

Reference prices as on 26th April 2019.

Products	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	27,300	27,200	27,400	+100	26,400	25,500
	Ex-Mumbai	HMS(80:20)	25,000	24,800	25,000	-200	25,100	24,800
	Ex-Chennai	HMS(80:20)	24,300	24,200	24,400	-100	24,600	24,600
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	19,400	19,300	19,500	-100	20,200	19,800
	Ex-Rourkela	Mix, FeM 80%, +/-1	18,700	18,600	18,800	0	18,750	18,700
	Ex-Raipur	Mix, FeM 80%, +/-1	19,600	19,500	19,700	0	19,600	19,800
	Ex-Bellary	Lumps, FeM 80%, +/-1	19,400	19,300	19,500	-100	19,800	18,800
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	18,200	18,100	18,300	-100	18,900	18,400
	Ex-Raipur	Lumps, FeM 80%, +/-1	18,600	18,500	18,700	0	18,550	18,500
	Ex-Bellary	Lumps, FeM 80%, +/-1	18,900	18,800	19,000	-100	19,300	18,400
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	19,500	19,400	19,600	-100	19,800	19,000
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	34,100	34,000	34,200	+300	34,500	34,000
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	31,300	31,200	31,400	+100	31,500	31,050
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	30,600	30,500	30,700	0	30,800	30,200
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	30,900	30,800	31,000	+50	30,800	31,000
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	33,050	33,000	33,100	+50	32,900	32,800
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	34,500	34,400	34,600	+300	34,800	34,300
	Ex-Durgapur	100x100 mm, IS 2831	31,600	31,500	31,700	+100	31,900	31,450
	Ex-Rourkela	100x100 mm, IS 2831	30,900	30,800	30,900	0	31,100	30,600
	Ex-Raipur	100x100 mm, IS 2831	31,500	31,400	31,600	0	31,500	31,350
	Ex-Ahmedabad	100x100 mm, IS 2831	33,300	33,200	33,400	-300	33,650	32,800
	Ex-Mumbai	100x100 mm, IS 2831	33,300	33,200	33,400	-100	33,100	33,100
	Ex-Chennai	100x100 mm, IS 2831	32,800	32,700	32,900	0	33,200	32,100
	Ex-Hyderabad	100x100 mm, IS 2831	32,000	31,900	32,100	-300	32,500	32,500
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	37,700	37,600	37,900	+100	38,000	37,700
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	36,500	36,200	36,700	-300	37,300	36,300
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	35,600	35,500	35,800	0	35,900	35,600
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	36,900	36,700	37,100	0	36,900	36,800
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	37,700	37,500	37,900	0	37,700	37,300
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	36,000	35,800	36,200	0	36,200	36,000
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	36,900	36,600	37,300	-100	37,400	36,400
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	37,900	36,900	37,900	0	38,400	37,800