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Daily Update: Indian Semis Steel Market 26 Jul'19

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BigMint Bureau
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26 Jul 2019, 18:26 IST
Daily Update: Indian Semis Steel Market 26 Jul'19

Indian billet prices rebound in major markets after a constant drop since few days due to weak demand. The producers have reported better response as spot trades improved.

Also in sponge iron, healthy volumes sold out in central India, Raipur after a slight fall in price range of P-DRI by INR 100-200/MT to INR 16,200/MT Ex-plant.

However, Rebar prices remained under pressure as stock more than average maintained by mid sized mills.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 25,700-29,500/MT (USD 373-428) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,400-17,500/MT (USD 238-254); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 26th July 2019 (Friday) INR to USD exchange rate stood at INR 68.90.

-- ICEX (Indian Commodity Exchange Ltd) Aug'19 contract for STEELLONG today open at INR 28,570/MT & last traded (IST 18:14) at INR 28,480/MT.

-- BSE Sensex closed at 37,882(+51) on Friday, as against last day (Thursday) at 37,830(-16).

-- NSE Nifty50 index was closed today at 11,284(+32) & Nifty Metal at 2,692(+6).

Raw Materials

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 171.75/MT FoB Australia & USD 187.3/MT CNF India.

-- South African RB2 (5500 NAR) coal offers are assessed at USD 53.63/MT on FoB basis & USD 66.63/MT CNF India.

-- SteelMint's assessment for containerized Shredded from UK, Europe and USA stands at USD 315-316/MT, CFR Nhava Sheva.

-- Odisha Govt issues special permit for storage of Iron ore to Odisha based units within the state before mining auction 2020

Semi Finished

-- SAIL (Steel Authority of India Limited) conducted auction for around 5,300 MT steel grade pig iron today in which the base price reduced by INR 600/MT (USD 9) to INR 24,200-250/MT ex-plant. As per sources the auction receives better response as near to 3,100 MT pig iron have been fetched bids.

-- Rashmi Metaliks in Durgapur has kept offers firm and offers for sponge P-DRI heard at near to INR 16,500/MT, as per sources.

-- Private pig iron producers in eastern region holds pig iron offers firm with an assumption of supportive demand in coming days due to close NINL plant.

-- Indian govt issues mandatory Quality Control Orders (BIS) for billet and Iingot manufacturers. IS2830 is applicable from immediate effect where as IS2831 will be applicable within 9 months.

-- Indian sponge iron export offers fall by USD 5/MT, price assessment for 80 FeM sponge lumps are at USD 275/MT CPT Benapole (dry land port of Bangladesh & India) and USD 285-290/MT CNF Chittagong, Bangladesh.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,500/MT & Billet at INR 25,500/MT ex-plant.

-- Divya Jyothi Steels Ltd in Bellary (Karnataka) offered Sponge FeM 80 C-DRI lump at INR 16,300-16,400/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,000-16,100/MT ex-Bellary, an official reported.

-- BIOP Steels in South India has decreased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 16,400/MT & INR 16,800/MT ex-plant, Karnataka; an official reported.

Wire Rod & Pipe

-- Trade discounts in Raipur wire rod is hovering at INR 1,800-2,000/MT due to drop base price by INR 200/MT to INR 32,400/MT ex-plant. However, in Durgapur wire rod trade reference price firm at INR 30,200-31,000/MT ex-plant.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 35,200/MT ex-plant & excluding GST.

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 33,000-33,300/MT ex-plant & excluding GST.

Rebar (12 mm)

-- Rathi Steels based in North region current offering around INR 35,100/MT (ex-Delhi).

-- Raipur based - SPEED TMT is offering at INR 30,000/MT(down by INR 300/MT).

-- Real Ispat (GK TMT) has unchanged their offers at INR 32,700/MT.

-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 30,200/MT(down by INR 100/MT).

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) is offering at INR 32,300/MT(down by INR 400/MT).

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offers at INR 32,500/MT.

-- Chennai based ARS Steel (Trusteel - 550D) has unchanged their offers at INR 36,300/MT.

-- Gujarat based, Mono Steel (India) Ltd. (Mono TMT) is offering at INR 33,600/MT FoR.

-- Wardha based Sangam TMT is current offering at INR 30,700/MT.

Note - Prices mentioned above are ex-work, excluding GST & changes are placed on day basis. Prices are subject to reconfirmation.

Reference prices as on 26th July 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22,000 21,900 22,100 0 22,400 23,700
Ex-Mumbai HMS(80:20) 21,000 20,900 21,200 0 21,100 22,400
Ex-Chennai HMS(80:20) 20,200 20,100 20,400 - 100 20,600 22,000
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,450 17,400 17,500 - 50 17,550 18,000
Ex-Rourkela Mix, FeM 80%, +/-1 16,500 16,400 16,600 - 100 16,600 16,900
Ex-Raipur Mix, FeM 80%, +/-1 17,200 17,100 17,300 - 200 17,800 17,250
Ex-Bellary Lumps, FeM 80%, +/-1 16,400 16,300 16,500 - 100 16,500 16,800
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,500 16,400 16,600 0 16,550 17,000
Ex-Raipur Lumps, FeM 80%, +/-1 16,200 16,100 16,300 - 200 16,800 16,300
Ex-Bellary Lumps, FeM 80%, +/-1 15,900 15,800 16,000 - 100 16,100 16,400
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,400 16,300 16,500 - 100 16,600 16,900
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 29,350 29,300 29,400 + 250 30,000 31,400
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,100 26,000 26,200 + 200 26,400 28,100
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 25,500 25,400 25,600 0 26,100 27,300
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,250 26,200 26,300 + 250 26,950 27,750
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 27,650 27,600 27,700 + 150 27,800 29,400
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 29,500 29,400 29,600 + 300 30,100 31,600
Ex-Durgapur 100x100 mm, IS 2831 26,600 26,500 26,700 + 200 27,100 28,600
Ex-Rourkela 100x100 mm, IS 2831 25,700 25,600 25,800 - 100 26,500 27,700
Ex-Raipur 100x100 mm, IS 2831 26,600 26,500 26,700 + 200 27,500 28,500
Ex-Ahmedabad 100x100 mm, IS 2831 28,500 28,400 28,600 - 200 29,200 30,300
Ex-Mumbai 100x100 mm, IS 2831 27,900 27,800 28,000 + 150 28,000 29,600
Ex-Chennai 100x100 mm, IS 2831 29,200 29,100 29,300 0 29,200 30,000
Ex-Hyderabad 100x100 mm, IS 2831 28,000 27,900 28,100 0 28,500 28,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 34,100 34,000 34,300 - 100 34,400 35,700
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 30,800 30,600 31,000 0 31,600 33,500
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 29,700 29,600 29,900 - 300 30,800 32,400
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 31,100 30,900 31,300 0 31,100 32,900
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 33,700 33,500 33,900 0 33,800 34,900
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 32,200 32,000 32,400 0 32,500 32,700
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 30,400 30,200 31,000 0 31,000 33,200
Ex-Raipur Wire Rod(5.5 MM) 31,400 30,400 32,400 - 300 32,600 33,900

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

26 Jul 2019, 18:26 IST

 

 

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