Daily Update: Indian Semis Trade Improves
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Indian Sponge & Billet market finds support as prices moved up by INR 100-400/MT day-on-day. The manufacturers in major markets reported strong inquiries which led to price surge.
SteelMint's price assessments for induction furnaces billet size 125x125 mm are reported at INR 32,200-36,000/MT (USD 495-554) ex-plant. Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,200-21,100/MT (USD 311-325); prices are ex-plant & excluding GST.
On 15th Mar 2018 (Thursday) INR to USD exchange rate stood at INR 64.94 & BSE Sensex closed at 33,685(-150).
Key Market Updates:
1. Iron ore despatches in Odisha up by 7% and reached 120.63 MnT (as of March first week) against the same period of last year at 112 MnT.
2. NMDC's Iron ore sales decline by 7% M-o-M & stood at 3.03 MnT in Feb'18 as compared to 3.25 MnT in Jan'18.
3. The Paradip Port Trust had invited bids for allotment of 08 manual iron ore/pellet plots through online. The last date for submission of bid was scheduled on 05th Mar'18
4. Private Pig iron manufacturers in East India, Durgapur reported weak demand at the offer prices of INR 29,000-29,200/MT (Steel grade).
5. Odisha based medium size sponge manufacturers selling FeM 80 C-DRI (70:30 mix material) at INR 21,300-21,500/MT FoR Raipur & excluding GST.
6. BIOP Steels in South India has reduced sponge offers by around INR 500/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,800/MT & INR 21,300/MT ex-plant, Karnataka; an official reported.
7. South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 20,800/MT & INR 34,000/MT. Also offering 28 MM Rebar at INR 37,000/MT. prices are ex-plant & excluding GST.
8. Freight via road from Bellary (Karnataka) to Wada (Maharashtra) increased by INR 200/MT to INR 1,700-1,900/MT over less availability of logistic Vehicles.
9. Rathi Steels in North India - Delhi have unchanged rebar price today and offering 12mm at INR 39,300/MT, excluding 18% GST.
10. Kalika Steel Alloys in Jalna kept the same price firm since couple of days and offering 28mm rebars at INR 36,600/MT, ex-plant & excluding GST.
11. The steel mills in Gujarat have indicated slight improvement may get noticed in local scrap prices (ship breaking) as trades inquiries supported.
12. Gujarat based Akshar TMT has offered basic rebar at INR 45,600/MT FoR & including GST at 18%, Size - 20 mm.
13. Bellary based manufacturers sold billet to Tamil-Nadu (Chennai) at INR 34,500/MT (ex-work) and freight cost reported at INR 900-1,000/MT. It seems that local billet prices in Chennai may decline further due to cheaper offers from neighbouring states.
Reference prices as on 15th March 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,100 | 21,000 | 21,200 | 0 | 22,300 | 21,700 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,200 | 20,100 | 20,200 | + 100 | 20,600 | 20,600 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,600 | 21,500 | 21,700 | + 200 | 21,600 | 21,400 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | 0 | 21,300 | 20,900 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,000 | 19,900 | 20,000 | 0 | 21,200 | 20,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,900 | 19,800 | 20,000 | + 150 | 20,100 | 20,050 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,100 | 20,000 | 20,200 | 0 | 20,500 | 20,000 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | + 100 | 21,000 | 20,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,800 | 34,700 | 34,900 | + 350 | 35,700 | 35,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,500 | 32,400 | 32,600 | 0 | 33,300 | 32,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,400 | 31,300 | 31,400 | + 200 | 32,100 | 31,200 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | + 250 | 32,600 | 32,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,700 | + 400 | 34,800 | 34,700 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,500 | 35,000 | 35,500 | - 300 | 35,750 | 34,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 33,800 | 33,700 | 33,900 | 0 | 33,800 | 34,000 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | + 200 | 36,500 | 35,700 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 33,000 | 32,900 | 33,100 | 0 | 33,700 | 32,650 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 32,200 | 32,100 | 32,300 | + 200 | 32,800 | 31,800 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 32,900 | 32,900 | 33,000 | + 150 | 33,300 | 32,750 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | + 400 | 35,000 | 34,900 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 36,000 | 35,500 | 36,000 | - 250 | 36,250 | 34,500 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 34,000 | 34,000 | 34,200 | 0 | 34,000 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,000 | 37,800 | 38,200 | 0 | 38,800 | 38,500 |
| Ex-Durgapur | 12MM | 37,700 | 37,500 | 37,900 | 0 | 38,500 | 36,900 | |
| Ex-Raipur | 12MM | 36,600 | 36,400 | 36,800 | + 200 | 36,800 | 36,500 | |
| Ex-Mumbai | 12MM | 38,400 | 38,000 | 38,500 | + 200 | 39,200 | 39,300 | |
| Ex-Chennai | 12MM | 40,700 | 40,600 | 41,000 | + 200 | 40,500 | 38,700 | |
| Ex-Hyderabad | 12MM | 39,700 | 39,500 | 39,800 | + 200 | 39,800 | 38,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
