Daily Update: Indian Semis Trade Improves
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Indian Iron & Steel prices increase further on improved domestic trade activities and as per assessment the mid size mills in major markets have raised Rebar prices by INR 300-400/MT, Billet by INR 200-600/MT (USD 3-9) & Sponge iron by INR 100-300/MT, day-on-day.
The market participants anticipate that domestic demand to remain supported, if prices find stability.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-35,300/MT (USD 439-501) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,600-21,900/MT (USD 292-311); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 4th December 2018 (Tuesday) INR to USD exchange rate stood at INR 70.52.
-- ICEX (Indian Commodity Exchange Ltd) Dec'18 contract for STEELLONG today open at INR 34,200/MT & last traded (IST 18:24) at INR 34,200/MT.
-- BSE Sensex closed at 36,134(-106) on Tuesday, as against last day (Monday) at 36,241(+46).
-- NSE Nifty50 index was closed today at 10,869(-14).
Raw Materials
-- Indian iron ore imports up 8% in Nov'18 against Oct'18. JSW Steel imports increase 74% to 0.9 MnT in Nov'18.
-- NMDC has recorded exports at 67 rakes (257,950 MT iron ore) in Nov'18, up sharply by 72% on monthly basis as against 39 rakes (150,150 MT) a month before.
-- JSPL was the largest buyer from Kurmitra mines & bags about 42,000MT Lumps at INR 4,200/MT in recent OMC Iron ore e-auction
-- KIOCL has decreased its sourcing sharply by 66% in Nov'18 to 17 rakes compared to 50 iron ore rakes from NMDC in Oct'18.
Semi Finished
-- Steel Authority of India Limited (SAIL) has reduced Pig iron offers by INR 500/MT (USD 7) to INR 29,500/MT (USD 418) from its Bhilai Steel Plant (BSP) based in Central India. Bulk purchase discount remain unchanged at INR 400/MT on above of 500 MT.
-- Rashmi Metaliks in Durgapur has reduced sponge prices by around INR 300/MT and today offers for P-DRI heard at around INR 20,800/MT - Sources.
-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 20,900-21,000/MT ex-plant & excluding GST.
-- BMM Ispat in South India (Karnataka) has increased offers for FeM 80 P-DRI by INR 200/MT to INR 20,000/MT ex-Bellary, an official reported.
-- BIOP Steels in South India has increased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,700/MT & INR 21,100/MT ex-plant, Karnataka; an official reported.
-- Prakash Sponge, a prime grade sponge maker in Karnataka offered FeM 80 C-DRI lumps at INR 20,600/MT ex-plant, an official reported.
-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,500/MT & INR 32,500/MT. Also offering 12 mm Rebar at INR 37,000/MT. All prices are ex-plant & excluding GST.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 21,100/MT & Billet at INR 32,600/MT ex-plant.
Pipe & Wire rod
-- Mandi Gobindgarh, North India based ERW pipe manufacturers increased prices by INR 100/MT & offers reported at around INR 41,200/MT ex-plant & excluding GST.
-- Hyderabad (South India) based Hari Om Pipe Industries Ltd has offered ERW Pipe at around INR 40,400/MT ex-plant, basic & excluding GST.
-- Raipur based ERW pipe manufacturers increased prices by INR 200/MT & offers reported at around INR 38,800/MT ex-plant & excluding GST.
-- Raipur & Durgpaur based wire rod manufacturers increased offers by INR 200-300/MT today. The offers for 5.5mm wire rod is hovering around INR 38,600/MT ex-Raipur & INR 38,300-38,500/MT ex-Durgapur.
-- Raipur based suppliers have reduced trade discount on wire rod & today it evaluated at INR 600-800/MT.
Rebar (12 mm)
-- Rashmi Metaliks has slightly increased offers and reported at INR 37,200/MT ex-Kharagpur.
-- Rathi Steels based in North region offering at INR 39,100/MT, up by INR 250/MT.
-- Raipur based - SPEED TMT offering at INR 35,400/MT, up by INR 200/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd (National TMT) offering at INR 38,200/MT FoR, up by INR 400/MT.
-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 36,900/MT, up by 400/MT.
-- West region based Bhagwati Ferro Metal (P) Ltd unchanged their offering at INR 36,800/MT.
-- Chennai based ARS Steel (Trusteel) unchanged their offering at INR 41,000/MT.
-- South region based - VRKP Steel Industry Pvt Ltd - VRKP tmt offering at INR 38,400/MT, down by INR 300/MT.
Note - the prices mentioned above based on ex-work and excluding GST and changes are placed on day basis.
Reference prices as on 4th December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,700 | 26,600 | 26,800 | + 100 | 26,400 | 27,100 |
| Ex-Mumbai | HMS(80:20) | 25,900 | 25,800 | 26,000 | + 200 | 25,500 | 25,700 | |
| Ex-Chennai | HMS(80:20) | 25,000 | 24,800 | 25,100 | - 300 | 25,800 | NA | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,800 | 21,700 | 21,900 | + 300 | 21,500 | 23,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | + 300 | 20,800 | 22,200 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,900 | 21,800 | 22,000 | + 200 | 21,500 | 22,900 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,600 | 20,500 | 20,700 | + 100 | 20,500 | 21,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,800 | 20,700 | 20,900 | + 300 | 20,500 | 22,300 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | + 200 | 20,000 | 21,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,000 | + 200 | 20,100 | 20,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,500 | + 200 | 20,400 | 21,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,900 | 34,800 | 34,900 | + 350 | 33,500 | 36,300 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,500 | 31,400 | 31,600 | + 250 | 31,100 | 33,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,700 | 30,600 | 30,700 | + 300 | 30,250 | 32,800 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,000 | 31,200 | + 300 | 30,450 | 33,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,300 | 33,200 | 33,300 | + 400 | 32,800 | 33,800 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 35,300 | 35,200 | 35,400 | + 350 | 34,000 | 37,100 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 31,900 | 31,800 | 32,000 | + 300 | 31,500 | 34,000 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 31,000 | 30,900 | 31,100 | + 300 | 30,700 | 33,200 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 400 | 30,800 | 33,700 | |
| Ex-Ahmedabad | 125x125 mm, IS 2831 | 33,800 | 33,700 | 33,900 | + 600 | 33,600 | 34,600 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 33,500 | 33,400 | 33,500 | + 400 | 33,000 | 34,100 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 33,500 | 33,400 | 33,600 | - 300 | 34,100 | 35,000 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 32,300 | 32,000 | 32,500 | - 200 | 33,000 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,700 | 37,500 | 37,900 | + 300 | 37,100 | 39,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,300 | 37,100 | 37,500 | + 300 | 36,800 | 39,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,300 | 35,100 | 35,500 | + 300 | 34,700 | 36,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,100 | 36,600 | 0 | 36,500 | 37,600 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | - 200 | 38,500 | NA | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 37,000 | 38,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 38,300 | 38,000 | 38,500 | + 400 | 37,500 | 39,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,600 | 37,900 | 38,600 | + 300 | 38,600 | 40,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
