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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
Ex-Raipur Wire Rod(5.5 MM) 37,900 36,900 37,900 0 38,400 37,800

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

26 Apr 2019, 18:31 IST

 

 

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