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Daily Update: Indian Semis Trade Improves

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BigMint Bureau
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22 Jan 2019, 18:21 IST
Daily Update: Indian Semis Trade Improves

Indian mid sized mills have raised Rebar prices by around INR 100-300/MT, Billet by INR 100-400/MT & Sponge iron by INR 100-300/MT on day trade activities on improved demand.

As per sources, with the slight peak demand of finished steel, prices constant rise as inventories are not much high.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,600-34,200/MT (USD 428-479) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,000-20,200/MT (USD 266-283); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 22nd January 2019 (Tuesday) INR to USD exchange rate stood at INR 71.37

-- ICEX (Indian Commodity Exchange Ltd) Feb'19 contract for STEELLONG today open at INR 33,050/MT & last traded (IST 18:21) at INR 33,260/MT.

-- BSE Sensex closed at 36,444(-134) on Tuesday, as against last day (Monday) at 36,578(+192).

-- NSE Nifty50 index was closed today at 10,922(-39).

Raw Materials

-- Jindal SAW (Rajasthan) has increased pellet (Fe 63% grade) prices by INR 300/MT to INR 7,800/MT (delivered Kandla).

-- Bhushan Steel - a major integrated steel maker has recorded iron ore and pellet sourcing at 0.42 MnT in Dec'18, increased 9% M-o-M as against 0.39 MnT in Nov'18.

-- Local manufacturers in Central India offered 60-14 Silico Manganese at around INR 67,000-67,500/MT ex-plant.

Semi Finished

-- Neelachal Ispat (NINL) - India's largest pig iron producer has commenced Billet production & has offered 150*150 mm (12 mtr) Billet from Cuttack, Odisha based plant at INR 31,000/MT (USD 435) ex-plant & excluding 18% GST.

-- NINL has again reduced its pig iron prices by INR 500/MT (USD 7/MT) & the latest offers by the company floated for Steel grade is at INR 26,900/MT (USD 377/MT), N2 grade is at INR 27,500/MT (USD 385/MT) and Foundry (High silicon) grade is at INR 28,000/MT (USD 392/MT); prices are basic, ex-Cuttack, East India.

-- Indian induction grade billet (100*100 mm size) export offers to Nepal are reported at USD 435/MT (ex-mill at West Bengal), equivalent to USD 460/MT CFR Nepal (Raxaul border).

-- Raipur, Central India based Integrated plants offers increased by INR 300/MT, offering Sponge P-DRI at INR 18,600-18,800/MT & Sponge DR CLO grade at INR 21,100-21,300/MT ex-plant.

-- Raipur based sponge manufacturers selling P-DRI to Gujarat, West India at around INR 21,000/MT FoR Ahmedabad.

-- Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 30,700/MT ex-plant & as per officials deals are majorly for Patna (Bihar); Freight to Patna via road at INR 1,300-1,400/MT.

-- Odisha based sponge manufacturer sold FeM 80 C-DRI lumps to Jalna (Maharashtra) at around INR 21,600/MT FoR Jalna.

-- Bellary, Karnataka based furnace owners offering billet at INR 31,700-31,800/MT (ex-plant). Officials mentioned that they have sold good quantity to Goa.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,400-18,500/MT ex-Bellary, an official reported.

-- BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,200/MT & INR 19,600/MT ex-plant, Karnataka; an official reported.

-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 19,200/MT & INR 32,000/MT. Also offering 12 mm Rebar at INR 36,500/MT. All prices are ex-plant & excluding GST.

Finish Long

-- Raipur (Central India) & Mandi Gobindgarh (North India) based pipe manufacturers kept offers at firm level, offering ERW pipe at around INR 36,400/MT & INR 39,800/MT; prices are ex-plant & excluding GST.

-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 38,700/MT ex-plant. (basic & excluding GST).

-- Raipur based wire rod manufacturers increased prices by INR 300/MT and trade discount through the manufacturers/suppliers is around INR 600-900/MT. The offers for 5.5mm wire rod is hovering around INR 37,600/MT ex-Raipur & INR 36,500-36,700/MT ex-Durgapur.

-- Rashmi Metaliks increased wire rod offers & reported at INR 36,400/MT (5.5 mm) and rebar at INR 34,800/MT ex-Kharagpur, east India.

-- A large Mill is offering High Carbon wire rod at around INR 46,000/MT (ex-Indore, 5.5-6 mm, GST extra).

Rebar (12 mm)

-- Rathi Steels based in North region offering at around INR 38,300/MT.

-- Raipur based - SPEED TMT offering at INR 34,900/MT (Up by INR 200/MT).

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) offering at INR 35,200/MT (Up by INR 300/MT).

-- Raigarh based Scan Group branding Shrishti TMT unchanged their offering at INR 35,000/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) offering at INR 38,200/MT FoR (Up by INR 200/MT).

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 36,300/MT.

-- Chennai based Shakti Ferro Alloys, (SSI TMT) unchanged their offering at INR 37,000/MT.

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

Reference prices as on 22nd January 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 25,900 25,800 26,000 + 200 25,900 26,000
Ex-Mumbai HMS(80:20) 24,900 24,800 25,100 0 25,000 25,200
Ex-Chennai HMS(80:20) 24,200 24,000 24,400 0 NA 24,000
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,200 20,100 20,300 + 300 20,200 19,700
Ex-Rourkela Mix, FeM 80%, +/-1 19,300 19,200 19,400 + 100 19,400 19,800
Ex-Raipur Mix, FeM 80%, +/-1 20,200 20,100 20,300 + 200 20,150 21,000
Ex-Bellary Lumps, FeM 80%, +/-1 19,000 18,900 19,100 0 19,100 20,000
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,000 18,900 19,100 + 300 19,100 18,500
Ex-Raipur Lumps, FeM 80%, +/-1 18,700 18,600 18,800 + 300 18,650 19,500
Ex-Bellary Lumps, FeM 80%, +/-1 18,500 18,400 18,600 0 18,700 19,600
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,400 19,300 19,500 - 100 NA 20,400
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 33,800 33,700 33,900 + 400 33,600 32,850
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 30,900 30,800 31,000 + 300 30,700 29,800
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,200 30,100 30,300 + 200 30,000 29,600
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,800 30,700 30,900 + 400 30,700 30,350
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 32,800 32,700 32,900 - 50 32,900 33,200
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 34,200 34,100 34,300 + 400 33,800 33,000
Ex-Durgapur 100x100 mm, IS 2831 31,400 31,300 31,500 + 300 31,200 30,300
Ex-Rourkela 100x100 mm, IS 2831 30,650 30,600 30,700 + 250 30,500 30,000
Ex-Raipur 100x100 mm, IS 2831 31,700 31,600 31,800 + 400 31,400 30,750
Ex-Ahmedabad 100x100 mm, IS 2831 33,200 33,100 33,300 + 200 33,500 33,000
Ex-Mumbai 100x100 mm, IS 2831 33,000 32,900 33,100 - 50 33,100 33,400
Ex-Chennai 100x100 mm, IS 2831 32,500 32,400 32,500 0 32,600 33,500
Ex-Hyderabad 100x100 mm, IS 2831 32,000 31,900 32,100 0 32,500 32,300
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,100 36,900 37,300 + 100 37,200 36,800
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 35,800 35,600 36,000 + 300 35,800 35,200
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 34,700 34,600 34,900 + 100 35,000 34,700
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 36,400 36,100 36,600 0 36,400 36,500
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 36,600 36,500 36,900 0 NA 37,800
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 36,500 36,300 36,700 + 300 37,000 36,700
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 36,600 36,500 37,000 + 500 36,800 36,600
Ex-Raipur Wire Rod(5.5 MM) 37,600 36,600 37,600 + 300 38,100 37,800

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

22 Jan 2019, 18:21 IST

 

 

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