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Daily Update: Indian Semis Trade Improves

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Semi Finished
By
BigMint Bureau
1254 Reads
29 Jun 2018, 18:49 IST
Daily Update: Indian Semis Trade Improves

Today, Indian Semi finished prices increase marginally on improved inquiries and the price rise seen in Sponge iron by INR 100-200/MT & Billet by INR 200-500/MT.

The market participants stated that "spot trade volume remained average, however slight rise in inquiries led to support prices".

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 34,300-38,500/MT (USD 500-562) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-22,100/MT (USD 278-322); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 29th June 2018 (Friday) INR to USD exchange rate stood at INR 68.47

-- BSE Sensex closed at 35,423(+385) on Friday, as against last day (Thursday) at 35,037(-179)

Raw material

-- Sources reported- Chinese mills are actively looking for Indian pellets cargoes due to strict govt. norms imposed on steel mills in Northern China. Indian pellet export price assessment stands at USD 116-118/MT, CFR China up by USD 4-6/MT, CFR China against last week.

-- Melting scrap offers in Chennai, Southern India & Mumbai Western India fall by INR 400-700/MT in a week assessment. The smelters in domestic market are prefers domestic scrap rather than imported owing to depreciation of Rupee against US dollar.

-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 360-365/MT, CFR Nhava Sheva, Offers down by USD 5/MT W-o-W

Semi finished

-- MMTC, India's largest and state owned trading house, has floated export tender of 40,000 MT non-alloy Pig Iron on behalf of Neelachal Ispat Nigam Limited (NINL). The due date for submission of bids is 09 July'18.

-- Raipur, Central India based Integrated plants offers increased by INR 200/MT, offering Sponge P-DRI at INR 19,500-19,700/MT & Sponge DR CLO grade at INR 22,400-22,600/MT ex-plant.

-- Aloke Steel Industries (Jharkhand) offered FeM 78-80 Sponge C-DRI lumps at INR 21,700/MT & Sponge mix material (60:40) at INR 21,200/MT ex-plant.

-- Raigarh based Singhal Steel offered P-DRI at INR 18,900/MT ex- plant, an official reported. Also, the company is offering Billets to Raipur at INR 35,800/MT FoR.

-- BIOP Steels in South India has reduced sponge offers by around INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,800/MT & INR 20,200/MT ex-plant, Karnataka; an official reported.

-- South India based Cauvery Iron & Steel offers FeM 80 P-DRI at INR 19,400/MT & Billet INR 34,500/MT. Also offering 28 mm Rebar at INR 37,000/MT. prices are ex-plant & excluding GST.

-- Bellary, Karnataka based furnace owners selling Billet to Chennai (Tamil Nadu) at around INR 34,800/MT on FoR basis.

Finish Long

-- North Region based Rathi Steels have unchanged their prices on day basis and current offering at INR 43,100/MT, size - 12 mm & excluding 18% GST.

-- East Region Based - Shakambhari Ispat & Power Ltd has offered Wire Rod 5.5 mm at INR 39,700/MT, ex-work & excluding GST.

-- The suppliers in Raipur have unchanged their trade discount on Wire rod to around INR 1,200-1,300/MT, size - 5.5 MM.

-- East Region Based - Baba Smelter Pvt. Ltd has offered basic Structure at INR 40,750/MT, ex-work & excluding GST.

-- Jalna based re-rollers have vanished or reduce the discount level amid positive sentiments in overall regions which they were offering around INR 200-400/MT from last couple of days & current trade price range registered at INR 38,500-38,900/MT (12-25 mm), ex-work & excluding GST.

-- Central region, Raipur based brand - SPEED TMT have hiked prices by INR 100/MT after second half amid thin trade volumes in comparison to last 3-4 days and current offering at INR 37,300/MT (28 mm), ex-work & excluding GST. As per Co. associates inventory level is low & shouldn't get dull surroundings for near term.

Reference prices as on 29th June 2018

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Mumbai HMS(80:20) 25,150 25,100 25,200 - 50 25,900 27,500
Ex-Chennai HMS(80:20) 24,900 24,800 25,000 0 25,300 26,500
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 22,100 22,000 22,200 + 100 22,800 22,500
Ex-Rourkela Mix, FeM 80%, +/-1 20,800 20,700 20,900 + 100 20,800 21,000
Ex-Raipur Mix, FeM 80%, +/-1 21,500 21,400 21,600 + 200 21,500 21,700
Ex-Bellary Lumps, FeM 80%, +/-1 19,100 19,000 19,200 0 20,100 20,400
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 21,100 21,000 21,200 + 100 21,700 21,000
Ex-Raipur Lumps, FeM 80%, +/-1 19,600 19,500 19,700 + 200 19,500 19,650
Ex-Bellary Lumps, FeM 80%, +/-1 18,400 18,200 18,500 0 19,100 19,700
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,500 19,400 19,600 0 20,000 20,400
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 38,100 38,000 38,200 + 500 38,500 39,100
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 34,700 34,600 34,800 + 200 35,500 36,700
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 33,600 33,500 33,700 + 200 34,800 36,200
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 34,100 34,000 34,200 + 400 34,600 36,200
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 34,400 34,300 34,500 + 100 35,650 37,300
Ex-Chennai 3.5 x 4.5 Inch, IS 2830 34,500 34,400 34,600 + 300 34,800 36,100
Ex-Hyderabad 3.5 x 4.5 Inch, IS 2830 34,200 34,100 34,300 + 500 34,700 35,700
Billet Ex-Mandi Gobindgarh 125x125 mm, IS 2831 38,500 38,400 38,700 + 500 39,000 39,800
Ex-Durgapur 125x125 mm, IS 2831 35,100 35,000 35,200 + 200 36,000 37,200
Ex-Rourkela 125x125 mm, IS 2831 34,300 34,200 34,400 + 300 35,300 36,500
Ex-Raipur 125x125 mm, IS 2831 35,000 34,900 35,100 + 300 35,600 37,300
Ex-Mumbai 125x125 mm, IS 2831 34,600 34,500 34,600 + 100 35,850 37,800
Ex-Chennai 125x125 mm, IS 2831 35,000 34,900 35,100 + 300 35,300 36,700
Ex-Hyderabad 125x125 mm, IS 2831 34,500 34,400 34,600 + 500 35,000 36,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 41,900 41,700 42,100 0 43,600 44,600
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 39,900 39,700 40,100 + 100 40,800 42,000
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 39,400 39,200 39,600 + 100 40,100 41,600
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 38,500 38,100 38,600 + 100 39,700 41,100
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 39,800 39,600 40,000 0 40,300 41,000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 39,500 39,300 39,700 + 500 39,500 40,500

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

29 Jun 2018, 18:49 IST

 

 

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