Daily Update: Indian Semis Trade Improves
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Indian Steel prices have find support as trade inquiries improved in domestic market. As per assessment, the billet prices have increased by INR 200-800/MT (USD 3-11), while sponge iron by INR 200-500/MT (USD 3-7), day-on-day.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 32,900-36,800/MT (USD 444-497) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 22,600-24,000/MT (USD 305-324); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 8th October 2018 (Monday) INR to USD exchange rate stood at INR 74.06
-- BSE Sensex closed at 34,474(+97) on Monday, as against last day (Friday) at 34,376(-792).
-- NSE Nifty50 index was closed today at 10,348(+31).
Raw Materials
-- Indian pellet exports have registered an increase to more than twice M-o-M to 0.95 MnT in Sep'18 as against 0.45 MnT in Aug'18.
-- BRPL stood the largest exporter of pellets for the quarter at 0.55 MnT, up 16% as against 0.47 MnT Q1 FY19.
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC, Australia have increased by USD 6-7/MT W-o-W & assessed at USD 219/MT CNF India
-- Imported scrap offers to India for HMS 1&2 (80:20) Dubai origin containers stood at around USD 343/MT, CFR Nhava Sheva, Offers decline by USD 9/MT W-o-W
-- Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 73,000/MT ex-plant.
Semi Finished
-- Indian sponge iron export offers to Bangladesh for lumps of grade FeM 78-80, hovering at USD 330-335/MT CPT Benapole (dry land port of Bangladesh & India) and USD 350-355/MT CFR Chittagong, Bangladesh.
-- RSP (Rourkela Steel Plant) tender held today (8th Oct'18) to sell about 1,900 MT steel grade Pig iron. The base price of the tender was at INR 30,000/MT and only 700 MT quantity have been sold out.
-- Raipur, Central India based Integrated plants have increased prices by INR 200-300/MT & offer Sponge P-DRI at INR 22,700-22,800/MT & Sponge DR CLO grade at INR 24,800-25,000/MT ex-plant.
-- Durgapur based Rashmi Metaliks a price tender setter for sponge iron has sharply raised prices & C-DRI have been sold at around INR 23,000/MT, as per participants.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,700-22,800/MT & Billet at INR 33,500/MT ex-plant.
-- Raigarh based Singhal Steel offered P-DRI at INR 22,000/MT & C-DRI at INR 23,400-23,500/MT ex-Raigarh, an official reported. Also, the company offers Billet at INR 34,400/MT FoR Raipur.
-- BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 500/MT to INR 22,000/MT ex-Bellary, an official reported.
-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 22,500/MT & 23,000/MT ex-plant, Karnataka; an official reported.
Finish Long
-- Rathi Steels in North region offering rebar at INR 40,500/MT (12 mm), excluding 18% GST.
-- Central region, Raipur based brand - SPEED TMT unchanged their prices on day basis and current offering at INR 35,900/MT (28 mm), ex-work & excluding GST.
-- East region based - Baba Smelter Pvt. Ltd has unchanged their Structure offers on day basis & current (125,150 Channel) offering at INR 40,750/MT, ex-work & excluding GST.
-- Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT increased their prices by INR 200/MT on day basis and current offering rebar at INR 46,200/MT (20 mm) FoR & including GST at 18%.
-- Jalna based rebar manufacturer Rajuri Steel Pvt Ltd unchanged their prices on day basis & current offering basic rebar at INR 36,900/MT, ex-work & excluding GST.
-- Mumbai, Maharashtra based SUN TMT has increased rebar prices by INR 100/MT on day basis and current offering rebar at INR 35,800/MT (28 mm), ex-work & excluding GST.
-- Jalna based rebar manufacturer - SRJ Peety Steels Pvt Ltd branding Shree Om TMT unchanged their rebar prices on day basis and current offering at INR 36,700/MT (28 mm), ex-work & excluding GST.
-- Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has kept offers unaltered for Electric Resistance Welded (ERW) Pipe which is made from strips of hot-rolled steel at INR 42,400/MT ex-plant. (basic & excluding GST).
Reference prices as on 8th October 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,600 | 27,500 | 27,700 | + 200 | 27,200 | 28,300 |
| Ex-Mumbai | HMS(80:20) | 26,300 | 26,000 | 26,300 | 0 | 27,000 | 26,800 | |
| Ex-Chennai | HMS(80:20) | 26,600 | 26,600 | 26,900 | 0 | 26,600 | 25,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,600 | 22,500 | 22,700 | + 200 | 22,000 | 25,350 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,800 | 22,700 | 22,900 | + 100 | 23,000 | 25,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 24,000 | 23,900 | 24,100 | + 200 | 24,200 | 26,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,600 | 22,500 | 22,700 | + 100 | 23,500 | 24,100 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,000 | 20,900 | 21,100 | + 200 | 20,800 | 24,350 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 22,700 | 22,600 | 22,800 | + 300 | 22,700 | 25,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | + 200 | 22,600 | 23,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 22,600 | 22,500 | 22,700 | + 200 | 23,600 | 24,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,900 | 36,800 | 37,000 | + 900 | 36,200 | 37,950 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,900 | 33,800 | 34,000 | + 600 | 33,800 | 36,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 33,100 | 33,000 | 33,200 | + 500 | 32,800 | 35,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | + 500 | 33,100 | 34,950 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,600 | 34,500 | 34,700 | + 400 | 35,200 | 36,350 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,500 | 35,700 | - 200 | 36,500 | 37,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,800 | 36,200 | + 700 | 35,700 | 37,000 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 37,800 | 37,700 | 37,900 | + 1,000 | 37,000 | 38,500 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 700 | 34,400 | 37,300 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 33,600 | 33,500 | 33,700 | + 700 | 33,500 | 36,200 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | + 500 | 34,000 | 35,900 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 34,800 | 34,700 | 34,900 | + 300 | 35,400 | 36,800 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 36,000 | 36,000 | 36,200 | - 200 | 37,000 | 37,500 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 36,300 | 36,000 | 36,500 | + 800 | 36,000 | 37,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | + 500 | 39,000 | 40,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,800 | 38,600 | 39,000 | + 300 | 39,100 | 41,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 37,900 | 37,700 | 38,100 | + 300 | 38,000 | 39,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,900 | 38,500 | 39,000 | 0 | 39,600 | 40,900 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 41,400 | 41,200 | 41,500 | - 100 | 42,200 | 41,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,700 | 39,500 | 39,900 | + 700 | 39,500 | 40,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
