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Daily Update: Indian Semis Trade Improves

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Semi Finished
By
BigMint Bureau
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2 Apr 2019, 18:19 IST
Daily Update: Indian Semis Trade Improves

Spot steel trades improved gradually in major Indian markets and the prices find support. On daily basis, Billet & Rebar prices surge by INR 100-400/MT, meanwhile sponge iron being raised in same proportion.

It is being learned that, the major Indian mills have raised finished steel prices by around INR 500/MT (USD 7) on account of low stock, better response in exports & improved domestic demand.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 31,000-34,600/MT (USD 449-502) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-20,300/MT (USD 272-295); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 2nd April 2019 (Tuesday) INR to USD exchange rate stood at INR 68.87.

-- ICEX (Indian Commodity Exchange Ltd) May'19 contract for STEELLONG today open at INR 34,200/MT & last traded (IST 18:14) at INR 34,060/MT.

-- BSE Sensex closed at 39,056(+184) on Tuesday, as against last day (Monday) at 38,871(+198).

-- NSE Nifty50 index was closed today at 11,713(+44).

Raw Materials

-- NMDC produced 32.44 MnT iron ore in FY19 against 35.5 MnT in previous fiscal.

-- Raipur (Central India) based pellet makers continue to hold offers at INR 6,300/MT from the last few weeks.

-- Imported containerise scrap offers to India from West African HMS 80:20 is hovering at USD 310-315/MT CNF India.

-- Melting scrap offers in Western India- Gujarat incline by INR 300/MT in a day trade activities.

-- South Eastern Coalfields Ltd (SECL) once again stands tall amongst all the subsidiaries of Coal India Limited & produced 157.35 MnT of coal in FY19, recorded a growth of 8.73% over last fiscal's output of 144.71 MnT.

Semi Finished

-- Indian Sponge iron export deals concluded at around USD 310/MT CPT Benapole (dry port of India & Bangladesh), equivalent to USD 330/MT CFR Chittagong, Bangladesh.

-- MMTC- India's largest and state-owned trading house, has floated export tender of 30,000 MT non-alloy Pig Iron on behalf of NINL. The due date for submission of bids is 14:30 hrs on 15 Apr'19.

-- Electro Steels in Bokaro, Jharkhand has lowered Pig iron prices and offering steel grade at INR 27,300-27,500/MT as against last week at INR 27,500/MT; ex-plant.

-- A large mill in eastern India has reported Billet export offers to Nepal at around USD 460/MT & Wire rod at USD 540/MT ex-mill. Freight cost is about USD 15-20/MT CNF Raxaul border (Nepal).

-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,600-18,800/MT & Sponge DR CLO grade at INR 20,800-21,000/MT ex-plant.

-- Central India,Raigarh based mill owners reported, 5-6 hours power cut continues by Jindal for Punjipatra region.

-- Rashmi Metaliks in Durgapur has increased sponge prices by around INR 200-300/MT and today offers for P-DRI heard at around INR 19,000/MT-Sources.

-- Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 19,800/MT & Sponge mix material (60:40) at INR 19,500/MT ex-plant.

-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 19,600/MT & Billet at INR 32,500/MT ex-plant.

-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,200/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 18,500-18,600/MT ex-Bellary, offers incline by INR 100/MT from the last trade; an official reported.

Wire Rod & Pipe

-- Blast furnace grade wire rod (5.5-6.0 mm) offers hovering at INR 42,000/MT ex-Bokaro, Jharkhand. The prices are unaltered as against Mar'19.

-- Trade discounts in Raipur wire rod quoted at INR 600-800/MT through the suppliers which is unchanged as against 1st Apr'19.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,500/MT 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).

Rebar (12 mm)

-- Raipur based - SPEED TMT has offered at INR 36,300/MT (Increase by INR 200/MT).

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 38,800/MT FoR (Increase by around INR 300/MT).

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) has unchanged their offers at INR 37,900/MT.

-- Chennai based ARS Steel (ARS 500 D) has unchanged their offers at INR 40,400/MT.

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

Reference prices as on 2nd April 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,400 26,300 26,500 + 300 26,100 26,100
Ex-Mumbai HMS(80:20) 25,000 24,900 25,100 0 25,000 25,400
Ex-Chennai HMS(80:20) 24,700 24,500 24,800 0 24,500 25,500
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,300 20,200 20,400 + 300 20,100 20,000
Ex-Rourkela Mix, FeM 80%, +/-1 19,000 18,900 19,100 + 100 18,800 20,300
Ex-Raipur Mix, FeM 80%, +/-1 20,000 19,900 20,100 + 200 19,900 21,100
Ex-Bellary Lumps, FeM 80%, +/-1 18,800 18,700 18,900 0 19,100 20,500
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,000 18,900 19,100 + 300 18,800 18,800
Ex-Raipur Lumps, FeM 80%, +/-1 18,650 18,600 18,700 + 50 18,600 19,750
Ex-Bellary Lumps, FeM 80%, +/-1 18,400 18,300 18,500 0 18,700 20,200
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,000 19,000 19,200 0 19,000 20,800
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 34,200 34,100 34,300 + 100 34,050 35,200
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 31,400 31,300 31,500 + 300 31,400 32,100
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,600 30,500 30,700 + 100 30,600 31,900
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 31,300 31,200 31,400 + 100 31,000 32,600
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 33,100 33,000 33,200 0 33,300 35,300
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 34,600 34,500 34,700 + 100 34,400 35,700
Ex-Durgapur 100x100 mm, IS 2831 31,800 31,700 31,900 + 300 31,800 32,650
Ex-Rourkela 100x100 mm, IS 2831 31,000 30,900 31,100 + 100 30,900 32,300
Ex-Raipur 100x100 mm, IS 2831 31,750 31,700 31,800 + 50 31,500 33,050
Ex-Ahmedabad 100x100 mm, IS 2831 34,000 33,900 34,100 + 300 34,200 35,700
Ex-Mumbai 100x100 mm, IS 2831 33,300 33,200 33,400 0 33,500 35,500
Ex-Chennai 100x100 mm, IS 2831 32,500 32,500 32,700 + 200 32,200 34,700
Ex-Hyderabad 100x100 mm, IS 2831 32,700 32,500 33,000 + 200 32,500 35,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 38,100 37,900 38,300 + 400 37,700 38,400
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 37,000 36,800 37,200 + 300 36,700 37,500
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 36,100 36,000 36,300 + 100 36,000 37,000
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 37,000 36,800 37,200 0 37,200 38,600
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 37,500 37,300 37,700 + 100 37,500 39,000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 36,500 36,300 36,700 + 300 36,000 38,500
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 37,000 36,800 37,500 + 200 36,900 37,700
Ex-Raipur Wire Rod(5.5 MM) 38,300 37,600 38,300 + 200 38,200 40,000

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

2 Apr 2019, 18:19 IST

 

 

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