Daily Update: Indian Semis Prices Rally
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Indian Semi finished steel prices increased sharply on active demand and supply concerns, as per market participants. On day trade activities, the prices of Billet have increased by INR 200-1,000/MT (USD 2-14) and Sponge iron by INR 400-900/MT (USD 5-13).
Industry players believed that, Semis prices are less likely to fall over supported demand, supply concern & prevailing positive trends in the domestic market on anticipation of hike in finished steel prices by large manufacturers.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 35,000-38,000/MT (USD 500-543) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,100-24,400/MT (USD 301-349); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 24th August 2018 (Friday) INR to USD exchange rate stood at INR 69.96
-- BSE Sensex closed at 38,251(-84) on Friday, as against last day (Thursday) at 38,336(+51).
Key Updates
-- Central India (Raipur) pellet (6-20 mm, Fe 63%) offers have further increased significantly to INR 8,500/MT (basic).
-- South African RB2 (5500 NAR) coal offers are assessed at USD 84/MT on FoB basis & USD 98/MT CNF India.
-- Domestic melting scrap offers rise on daily assessment - Jalna by INR 500/MT, Alang INR 200/MT, Chennai INR 300/MT, Mandi Gobindgarh & Ludhiana by INR 600/MT.
-- Singhal Steel, Raigarh (Central India) based manufacturer has offered 60-14 Silico Manganese at around INR 66,000/MT ex-plant
-- Bokaro, Jharkhand based Electro Steels has offered Steel grade Pig iron at INR 29,600/MT ex-plant & INR 30,000/MT FoR Durgapur.
-- Raipur, Central India based Integrated plants offers increased by INR 800-900/MT, offering Sponge P-DRI at INR 24,500/MT ex-plant.
-- Rashmi Metaliks in Durgapur, known as price trend setter, has offered Sponge P-DRI at INR 23,500-23,600/MT - Sources.
-- Singhal Steel offered P-DRI at INR 23,300/MT ex-plant (Raigarh), an official reported. Also added no deals of billet concluded for Raipur today.
-- BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 500/MT to INR 21,000/MT ex-Bellary, an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 82 C-DRI lump at INR 22,000/MT & Billet at INR 35,200/MT ex-plant.
-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 21,500/MT & INR 36,000/MT. Also offering 28 MM Rebar at INR 36,500/MT. All prices are ex-plant & excluding GST.
-- The suppliers in Raipur continue to decrease trade discount on Wire rod and today's discount at INR 300-500/MT.
Reference prices as on 24th August 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 25,700 | 25,600 | 25,800 | + 100 | 25,200 | 24,800 |
| Ex-Chennai | HMS(80:20) | 24,100 | 24,000 | 24,200 | + 300 | 23,600 | 22,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 24,600 | 24,500 | 24,700 | + 400 | 24,100 | 20,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 23,900 | 23,800 | 24,000 | + 800 | 22,500 | 20,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 25,300 | 25,200 | 25,400 | + 900 | 24,000 | 21,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,500 | 21,400 | 21,600 | + 400 | 20,700 | 19,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 23,600 | 23,500 | 23,700 | + 400 | 23,100 | 19,500 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 24,500 | 24,400 | 24,600 | + 900 | 22,900 | 20,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | + 400 | 19,800 | 18,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,300 | 21,200 | 21,400 | + 600 | 20,300 | 19,100 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,600 | 37,500 | 37,700 | + 400 | 37,000 | 34,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,400 | 35,300 | 35,500 | + 700 | 34,200 | 31,300 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | + 800 | 33,000 | 30,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 35,000 | + 900 | 33,600 | 30,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 35,100 | 35,000 | 35,200 | + 500 | 34,700 | 31,550 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,200 | 35,100 | 35,300 | + 200 | 35,500 | 33,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,300 | 35,700 | + 800 | 35,200 | 32,700 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 38,000 | 37,900 | 38,100 | + 400 | 37,500 | 34,700 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 35,900 | 35,800 | 36,000 | + 700 | 34,800 | 31,900 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 35,000 | 34,900 | 35,000 | + 1,000 | 33,500 | 30,800 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 36,000 | 35,900 | 36,100 | + 1,000 | 34,700 | 31,500 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 35,450 | 35,400 | 35,500 | + 550 | 34,900 | 31,750 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 35,700 | 35,600 | 35,900 | + 200 | 36,000 | 34,000 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 35,750 | 35,500 | 36,000 | + 750 | 35,500 | 33,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,500 | 40,300 | 40,800 | + 700 | 39,100 | 37,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,700 | + 1,000 | 38,000 | 35,600 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,900 | 39,200 | + 700 | 37,600 | 34,500 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,600 | 39,000 | + 400 | 38,600 | 35,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | + 100 | 40,200 | 38,900 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | + 500 | 38,750 | 37,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
