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Daily Update: Indian Semis Trade Improves

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BigMint Bureau
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24 Jan 2019, 18:27 IST
Daily Update: Indian Semis Trade Improves

Indian Steel prices rally following improved demand for domestic & exports and the prices rise by INR 100-400/MT on day trade activities.

The producers in eastern India - West Bengal & Odisha reported better demand from Nepal's re-rollers and if participants are to believe close to 3,000 MT Billet (100*100 mm & Induction grade) have booked at near about USD 440-445/MT ex-mill, equivalent to USD 465-470/MT CFR Nepal.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 31,100-34,500/MT (USD 437-485) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,300-20,700/MT (USD 271-291); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 24th January 2019 (Thursday) INR to USD exchange rate stood at INR 71.12.

-- ICEX (Indian Commodity Exchange Ltd) Feb'19 contract for STEELLONG today open at INR 33,300/MT & last traded (IST 18:25) at INR 33,200/MT.

-- BSE Sensex closed at 36,195(+86) on Thursday, as against last day (Wednesday) at 36,108(-336).

-- NSE Nifty50 index was closed today at 10,849(+18).

Raw Materials

-- NMDC Donimalai case hearing at Karnataka HC adjourned to 28 Jan'19 - Sources

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 198/MT FoB Australia & USD 209.2/MT CNF India.

-- South African RB2 (5500 NAR) coal offers are assessed at USD 65.5/MT on FoB basis & USD 79.5/MT CNF India.

-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 305/MT, CFR Nhava Sheva.

Semi Finished

-- The latest price assessment for Steel grade Pig iron stood at INR 27,700-28,000/MT ex-Raipur (Central India) & INR 27,000-27,300/MT ex-Durgapur (East region).

-- Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 31,100-31,200/MT ex-plant, an official reported.

-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,000-19,200/MT & Sponge DR CLO grade at INR 21,400-21,600/MT ex-plant.

-- Raipur based mills sourcing Sponge iron from Odisha at around INR 20,500/MT FoR Raipur.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,300/MT & Billet at INR 30,800/MT ex-plant.

-- Bellary, Karnataka based furnace owners offering billet at around INR 32,000-32,200/MT on ex-plant basis.

-- BIOP Steels in South India has increased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 19,300/MT & INR 19,600/MT ex-plant, Karnataka; an official reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,800-18,900/MT ex-Bellary, offers incline by INR 300-400/MT from the last trade; an official reported.

Wire Rod & Pipe

-- Raipur (Central India) & Mandi Gobindgarh (North India) based pipe manufacturers increase ERW pipe prices by INR 100/MT to 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 38,900/MT ex-plant. (basic & excluding GST). Offers rise by INR 200/MT.

-- Raipur based wire rod manufacturers increased prices by INR 300/MT and trade discount through the manufacturers/suppliers is around INR 800-1,000/MT. The offers for 5.5mm wire rod is hovering around INR 38,100/MT ex-Raipur & INR 37,100-37,300/MT ex-Durgapur.

-- Rashmi Metaliks increased wire rod offers & reported at INR 36,900/MT (5.5 mm) ex-Kharagpur, east India.

Rebar (12mm)

-- Rathi Steels based in North region increased their prices by INR 300/MT and offering at INR 38,900/MT.

-- Raipur based - SPEED TMT offering at INR 35,300/MT (Up by INR 100/MT).

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) offering at INR 35,600/MT (Up by INR 100/MT).

-- Raigarh based Scan Group branding Shrishti TMT offering at INR 35,500/MT (Up by INR 300/MT).

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) unchanged their offering at INR 38,400/MT FoR.

-- Gujarat based Akshar Ispat Ltd. (Akshat TMT) unchanged their offering at INR 38,100/MT FoR.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 36,500/MT.

-- Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) offering at INR 36,900/MT (Up by INR 100/MT).

-- South region based Pulkit Steel (Pulkit TMT) unchanged their offering at INR 37,500/MT.

-- South region based Tulsyan NEC Steel (Tulsyan) unchanged their offering at INR 38,000/MT.

-- The trade reference prices of rebar by a large mill are hovering at around INR 39,000/MT ( ex-Vizag) mainly in retail segment.

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

Reference prices as on 24th January 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,100 26,000 26,200 + 100 25,600 26,500
Ex-Mumbai HMS(80:20) 25,100 24,900 25,200 0 24,900 25,400
Ex-Chennai HMS(80:20) 24,300 24,200 24,500 0 NA 24,100
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,700 20,600 20,800 + 500 19,950 20,300
Ex-Rourkela Mix, FeM 80%, +/-1 19,500 19,400 19,600 + 200 19,300 19,800
Ex-Raipur Mix, FeM 80%, +/-1 20,600 20,500 20,700 + 200 20,000 20,900
Ex-Bellary Lumps, FeM 80%, +/-1 19,300 19,200 19,400 + 200 19,100 20,000
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,600 19,500 19,700 + 400 18,800 19,100
Ex-Raipur Lumps, FeM 80%, +/-1 19,100 19,000 19,000 + 200 18,400 19,500
Ex-Bellary Lumps, FeM 80%, +/-1 18,800 18,700 18,900 + 300 18,800 19,600
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,500 19,400 19,600 + 100 19,500 20,200
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 34,100 34,000 34,200 - 50 33,200 33,750
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 31,400 31,300 31,500 + 200 30,400 30,650
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,700 30,600 30,800 + 200 29,800 30,000
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 31,100 31,000 31,200 + 100 30,400 30,450
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 33,300 33,200 33,400 + 200 33,100 33,400
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 34,500 34,400 34,600 - 50 33,600 33,950
Ex-Durgapur 100x100 mm, IS 2831 32,000 31,900 32,100 + 300 30,800 31,150
Ex-Rourkela 100x100 mm, IS 2831 31,100 31,000 31,200 + 200 30,300 30,300
Ex-Raipur 100x100 mm, IS 2831 32,050 32,000 32,100 + 50 31,100 31,350
Ex-Ahmedabad 100x100 mm, IS 2831 33,500 33,400 33,600 + 150 32,900 33,600
Ex-Mumbai 100x100 mm, IS 2831 33,500 33,400 33,600 + 200 33,300 33,600
Ex-Chennai 100x100 mm, IS 2831 32,200 32,200 32,400 - 300 32,600 33,500
Ex-Hyderabad 100x100 mm, IS 2831 32,500 32,400 32,600 0 32,000 33,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,500 37,400 37,700 + 200 37,000 37,000
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 36,300 36,100 36,500 + 500 35,500 35,600
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 35,000 34,900 35,200 + 100 34,700 35,000
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 36,500 36,200 36,700 + 100 36,400 36,700
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 36,600 36,600 37,000 0 NA 37,700
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 36,700 36,500 36,900 0 36,500 37,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 37,100 36,900 37,300 + 300 36,400 37,200
Ex-Raipur Wire Rod(5.5 MM) 38,100 37,200 38,100 + 300 37,600 37,900

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

24 Jan 2019, 18:27 IST

 

 

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