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Daily Update: Indian Semis Trade Improves

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Semi Finished
By
BigMint Bureau
830 Reads
10 Jul 2019, 18:35 IST
Daily Update: Indian Semis Trade Improves

Indian Semis prices rebound today as spot trades improved, however demand in Finished products remained limited, as reported by market participants.

On daily assessment the Billet prices surge by INR 100-600/MT with major rise of INR 600/MT in western region - Gujarat followed by INR 300-400/MT in Raipur & Durgapur.

In line Sponge iron manufacturers have raised prices by INR 100-300/MT, in which major hike of INR 200-300/MT registered in Raipur & Durgpur on rising Billet prices amid improved response.

However Rebar market registered volatility in prices by INR 100-300/MT day on day in major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,600-30,300/MT (USD 389-444) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,300-17,700/MT (USD 238-259); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 10th July 2019 (Wednesday) INR to USD exchange rate stood at INR 68.34.

-- ICEX (Indian Commodity Exchange Ltd) Aug'19 contract for STEELLONG today open at INR 29,590/MT & last traded (IST 18:28) at INR 29,930/MT.

-- BSE Sensex closed at 38,557(-173) on Wednesday, as against last day (Tuesday) at 38,730(+10).

-- NSE Nifty50 index was closed today at 11,498(-57) & Nifty Metal at 2,756(-31).

Raw Materials

-- The state government of Chhattisgarh has again called for a meeting of tribal representatives on July 12, 2019 to inquire into the matter of the 10-million-tons -per-annum (MTPA) Bailadila iron ore deposit-13, located at Kirandul, in Dantewada district, SteelMint has learnt from sources.

-- South India (Karnataka) based - NMDC Donimalai Pellet Plant has reduced pellet offers by INR 200/MT to INR 6,830/MT (FoT basis) as against last offer at INR 7,030/MT (FoT basis).

-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 188.5/MT FoB Australia & USD 202.35/MT CNF India.

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

-- Melting scrap offers in Western India- Jalna (Maharashtra) decline by INR 400/MT in a day trade activities.

Semi Finished

-- SAIL's Rourkela Steel Plant tender held today (10th July'19) to sell about 3,500 MT steel grade pig iron & had received improved response. The base price for the tender was quoted by RSP at INR 25,400/MT which is down by INR 1,200/MT (USD 18) as against previous auction and near about only 55% (1900 MT) material sold.

-- Durgapur based Rashmi Metaliks has raised sponge P-DRI prices by INR 300/MT to INR 16,700/MT, as per sources.

-- The sponge P-DRI manufacturers in Raipur reported good response, hence following the same prices moved up by INR 200-300/MT to INR 16,000/MT ex-plant.

-- Raipur based furnaces bought steel grade pig iron at around INR 26,000-26,100/MT FoR from the traders.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,300/MT & Billet at INR 26,500-26,600/MT ex-plant.

-- BMM Ispat a price trend setter in South Indian sponge market has kept offers unaltered today and offered FeM 80 P-DRI lumps at INR 16,000/MT ex-Bellary, Karnataka.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 16,600/MT & INR 17,000/MT ex-plant, Karnataka; an official reported.

Wire Rod & Pipe

-- Trade discounts in Raipur Wire rod down by INR 300/MT to INR 1,300-1,500/MT due to surge Billet prices and base of 5.5 mm registered at INR 33,700/MT ex-Raipur & INR 31,700-32,500/MT ex-Durgapur.

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 34,400/MT ex-plant & excluding GST. Offers incline by INR 200/MT D-o-D.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 36,400/MT ex-plant & excluding GST.

-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 38,500/MT ex-plant. (basic & excluding GST).

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

Reference prices as on 10th July 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22,500 22,300 22,600 0 23,800 NA
Ex-Mumbai HMS(80:20) 21,200 21,100 21,300 - 100 22,500 24,500
Ex-Chennai HMS(80:20) 21,100 21,000 21,300 - 100 22,000 23,100
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,700 17,600 17,800 + 300 18,500 18,500
Ex-Rourkela Mix, FeM 80%, +/-1 16,300 16,200 16,400 + 100 17,000 18,100
Ex-Raipur Mix, FeM 80%, +/-1 17,000 16,900 17,100 + 300 17,400 18,400
Ex-Bellary Lumps, FeM 80%, +/-1 16,600 16,500 16,700 + 100 16,900 18,300
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,700 16,600 16,800 + 300 17,500 17,500
Ex-Raipur Lumps, FeM 80%, +/-1 16,000 15,900 16,100 + 200 16,400 17,300
Ex-Bellary Lumps, FeM 80%, +/-1 16,000 15,900 16,100 + 100 16,500 17,800
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,500 16,400 16,600 + 100 17,100 18,300
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 30,250 30,200 30,300 + 350 31,600 33,100
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,800 26,700 26,900 + 300 28,250 30,000
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 26,300 26,200 26,300 + 300 27,400 29,100
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,700 26,600 26,800 + 400 27,600 29,300
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 27,450 27,400 27,500 + 50 29,300 31,200
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 30,300 30,200 30,400 + 300 31,800 33,500
Ex-Durgapur 100x100 mm, IS 2831 27,400 27,300 27,500 + 400 28,650 30,500
Ex-Rourkela 100x100 mm, IS 2831 26,600 26,500 26,700 + 100 27,800 29,500
Ex-Raipur 100x100 mm, IS 2831 27,300 27,200 27,400 + 400 28,400 30,100
Ex-Ahmedabad 100x100 mm, IS 2831 28,700 28,600 28,800 + 600 30,200 32,400
Ex-Mumbai 100x100 mm, IS 2831 27,700 27,600 27,800 + 50 29,500 31,450
Ex-Chennai 100x100 mm, IS 2831 29,500 29,300 29,500 0 29,900 30,800
Ex-Hyderabad 100x100 mm, IS 2831 28,000 27,900 28,100 0 29,000 30,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 34,500 34,300 34,700 0 35,400 37,000
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 32,500 32,300 32,700 0 33,700 35,300
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 31,300 31,200 31,500 - 100 32,500 34,100
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 30,900 30,700 31,000 - 200 32,800 34,300
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 34,200 34,000 34,400 0 34,900 35,900
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 32,300 32,200 32,400 + 300 33,000 34,300
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 31,900 31,700 32,500 + 200 33,200 35,500
Ex-Raipur Wire Rod(5.5 MM) 32,900 32,100 33,700 + 100 34,000 35,500

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

10 Jul 2019, 18:35 IST

 

 

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