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Daily Update: Indian Semis Trade Improves

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Semi Finished
By
BigMint Bureau
1067 Reads
8 Oct 2018, 18:27 IST
Daily Update: Indian Semis Trade Improves

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

8 Oct 2018, 18:27 IST

 

 

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