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Daily Update: Indian Semis Trade Improves

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Semi Finished

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29 May 2019, 18:21 IST

Daily Update: Indian Semis Trade Improves

Indian spot steel prices slightly gain today on improved demand in finished steel products and the prices surge by INR 100-400/MT in Billet & INR 100-200/MT in Sponge iron.

The major hike in Billet prices recorded in Gujarat & Punjab by INR 300-400/MT, while in remaining markets it surge by INR 100-200/MT, day on day.

Further the market participants are assuming that, Semis prices to remain strong as rebar demand improves in major supplying regions amidst strengthening raw materials.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,800-34,500/MT (USD 441-494) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,800-19,700/MT (USD 268-282); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 29th May 2019 (Wednesday) INR to USD exchange rate stood at INR 69.82.

-- ICEX (Indian Commodity Exchange Ltd) Jun'19 contract for STEELLONG today open at INR 33,250/MT & last traded (IST 18:11) at INR 33,260/MT.

-- BSE Sensex closed at 39,502(-247) on Wednesday, as against last day (Tuesday) at 39,749(+66).

-- NSE Nifty50 index was closed today at 11,861(-67) & Nifty Metal at 2,937(-55).

Raw Materials

-- Bhushan Steel has recorded iron ore & pellet sourcing at 0.32 MnT in Apr'19, dropped 13% as against 0.37 MnT in Mar'19.

-- Essar Steel sourced 0.39 MnT iron ore in Apr'19 from Odisha's merchant mines, up 22% against Mar'19 sourcing at 0.32 MnT.

Semi Finished

-- SAIL has invited an ocean export tender for 18,900 MT billets (Prime Mild steel and non alloy concast) with size 125*125 mm from its Durgapur Steel plant. The last date for bid submission is 31 May'19.

-- Jindal Steel is offering steel grade pig iron at INR 28,000-28,200/MT ex-Raigarh & panther shots(granulated pig iron) at INR 26,500/MT ex-Angul (Odisha).

-- Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 18,600-18,700/MT & Sponge DR CLO grade at INR 20,600-20,700/MT ex-plant.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,700-18,800/MT & Billet at INR 30,700/MT ex-plant.

-- Shri Hari Sponge, an Odisha based plant offered FeM 80 sponge mix material at INR 18,900-19,000/MT ex-plant.

-- BIOP Steels in South India has offered FeM 80 & 82 C-DRI lumps at INR 19,100/MT & INR 19,500/MT ex-plant, Karnataka; an official reported.

-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,000/MT & Billet at INR 31,300/MT ex-plant.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,600-18,700/MT ex-Bellary, an official reported. Added majorly deals concluded for Hyderabad market.

Wire Rod & Pipe

-- Trade discounts in Raipur Wire rod unaltered at INR 800-1,000/MT as base prices rise by INR 200/MT to INR 37,200/MT. Similarly in Durgapur where base prices surge by INR 300/MT to INR 36,800-37,500/MT ex-plant, size 5.5 mm.

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 38,000/MT ex-plant & excluding GST. Offers unaltered for the day.

-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 39,900/MT ex-plant. (basic & excluding GST).

Reference prices as on 29th May 2019

	Particular/Delivery	Size, Grade, Origin	Prices	Min	Max	Change	1W	1M
Scrap	Ex-Alang	HMS(80:20)	25,700	25,600	25,800	+ 200	26,400	26,500
	Ex-Mumbai	HMS(80:20)	24,700	24,600	24,800	- 100	25,000	25,100
	Ex-Chennai	HMS(80:20)	23,700	23,600	23,900	+ 100	23,500	24,300
C-DRI	Ex-Durgapur	Mix, FeM 78%, +/-1	19,600	19,500	19,700	+ 100	19,800	19,200
	Ex-Rourkela	Mix, FeM 80%, +/-1	18,800	18,700	18,900	+ 50	19,100	18,800
	Ex-Raipur	Mix, FeM 80%, +/-1	19,700	19,600	19,800	0	19,900	19,800
	Ex-Bellary	Lumps, FeM 80%, +/-1	19,000	18,900	19,100	0	19,200	19,100
P-DRI	Ex-Durgapur	Lumps, FeM 78%, +/-1	18,500	18,400	18,600	+ 200	18,600	18,000
	Ex-Raipur	Lumps, FeM 80%, +/-1	18,650	18,600	18,700	+ 50	19,000	18,900
	Ex-Bellary	Lumps, FeM 80%, +/-1	18,750	18,700	18,800	- 50	18,800	18,800
	Ex-Hyderabad	Lumps, FeM 80%, +/-1	19,300	19,200	19,400	- 100	19,200	19,300
Ingot	Ex-Mandi Gobindgarh	3.5 x 4.5 Inch, IS 2830	34,050	34,000	34,100	+ 350	34,400	34,300
	Ex-Durgapur	3.5 x 4.5 Inch, IS 2830	31,300	31,200	31,400	+ 200	31,500	31,300
	Ex-Rourkela	3.5 x 4.5 Inch, IS 2830	30,200	30,100	30,300	+ 100	30,650	30,700
	Ex-Raipur	3.5 x 4.5 Inch, IS 2830	30,750	30,700	30,800	+ 50	31,050	31,000
	Ex-Mumbai	3.5 x 4.5 Inch, IS 2830	32,000	31,900	32,100	+ 300	32,500	33,500
Billet	Ex-Mandi Gobindgarh	100x100 mm, IS 2831	34,500	34,400	34,600	+ 400	34,800	34,600
	Ex-Durgapur	100x100 mm, IS 2831	31,700	31,600	31,800	+ 200	32,000	31,700
	Ex-Rourkela	100x100 mm, IS 2831	30,800	30,700	30,900	+ 200	31,100	31,000
	Ex-Raipur	100x100 mm, IS 2831	31,400	31,300	31,500	+ 200	31,700	31,600
	Ex-Ahmedabad	100x100 mm, IS 2831	32,500	32,400	32,600	+ 350	33,150	33,250
	Ex-Mumbai	100x100 mm, IS 2831	32,200	32,200	32,300	+ 200	32,800	33,700
	Ex-Chennai	100x100 mm, IS 2831	32,000	32,000	32,200	+ 100	31,850	31,900
	Ex-Hyderabad	100x100 mm, IS 2831	31,500	31,400	31,600	- 200	32,000	32,000
TMT	Ex-Delhi/NCR	12-25 MM, IS 1786- 500 Fe	37,400	37,200	37,600	+ 200	37,800	37,700
	Ex-Durgapur	12-25 MM, IS 1786- 500 Fe	36,800	36,600	37,000	+ 200	37,300	36,500
	Ex-Raipur	12-25 MM, IS 1786- 500 Fe	35,200	35,000	35,300	0	35,400	35,300
	Ex-Mumbai	12-25 MM, IS 1786- 500 Fe	35,100	34,900	35,300	+ 100	35,900	36,900
	Ex-Chennai	12-25 MM, IS 1786- 500 Fe	36,700	36,600	36,900	0	36,900	37,400
	Ex-Hyderabad	12-25 MM, IS 1786- 500 Fe	35,500	35,300	35,700	- 200	36,000	35,800
Wire Rod	Ex-Durgapur	Wire Rod(5.5 MM)	37,100	36,800	37,500	+ 300	37,700	37,000
Wire Rod	Ex-Raipur	Wire Rod(5.5 MM)	36,700	36,200	37,200	+ 200	37,200	37,900