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Daily Update: Indian Semis Trade Slowdown

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24 May 2019, 18:28 IST
Daily Update: Indian Semis Trade Slowdown

Indian spot steel trade activities remain limited as prices moved down trend despite strengthening raw materials.

however, participants believe that, prices to soon recover once demand of finished steels find support.

As per daily assessment, the Billet prices down by INR 100-500/MT and majorly in Hyderabad by INR 500/MT. Meanwhile Rebar prices fell by INR 100-200/MT, day on day, in major markets.

In line Sponge iron, the prices in Eastern region declined by INR 100-200/MT. However, the producers in Central & Southern India have maintained prices due to high cost/rising raw materials.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,800-34,400/MT (USD 443-495) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-20,000/MT (USD 274-288); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 24th May 2019 (Friday) INR to USD exchange rate stood at INR 69.47.

-- ICEX (Indian Commodity Exchange Ltd) Jun'19 contract for STEELLONG today open at INR 33,880/MT & last traded (IST 18:26) at INR 33,800/MT.

-- BSE Sensex closed at 39,434(+623) on Friday, as against last day (Thursday) at 38,811(-298).

-- NSE Nifty50 index was closed today at 11,844(+187).

Raw Materials

-- Essel Mining - a major iron ore mine in Odisha has increased its offers for iron ore lumps by INR 300/MT (USD 4/MT) and INR 250/MT in fines (USD 3.5/MT) w.e.f yesterday (23rd May'19).

-- Eastern India based pellet maker has concluded an export deal for around 50,000 MT for regular grade pellets (Fe 64%, containing 3% alumina) for June shipments at around USD 126-127/MT, CFR China.

-- Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 315-325/MT, CFR depending on quality.

Semi Finished

-- Electrosteels has maintained prices and reported trades for steel grade pig iron at INR 27,500/MT ex-Bokaro (Jharkhand).

-- Mesco Steels has raised steel grade pig iron prices by INR 200/MT to INR 27,100-27,200/MT ex-Jajpur (Odisha).

-- Raipur based sponge producers quoted P-DRI at INR 18,900-19,000/MT ex-plant. However no major deals reported as landed offers from Odisha based manufacturers hovering at INR 18,900/MT.

-- Rashmi Metaliks in Durgapur has reduced sponge P-DRI prices by INR 100-200/MT to INR 18,400-18,500/MT, as reported by sources.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 18,800/MT & Billet at INR 30,800/MT ex-plant. Offers fall by INR 100-200/MT D-o-D.

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

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,500/MT ex-Bellary, offers incline by INR 300/MT from the last trade; an official reported.

-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 20,000/MT & Billet at INR 32,000/MT ex-plant. Offers unaltered for the day.

Wire Rod & Pipe

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 38,000-38,100/MT ex-plant & excluding GST.

-- Trade discounts in Raipur Wire rod increased further by INR 200/MT to INR 1,100-1,300/MT amid unchanged base price at INR 37,700/MT ex-plant. Similarly the trade price in Durgapur fell by INR 300/MT to INR 37,100-38,000/MT ex-plant.

-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,100/MT ex-plant. (basic & excluding GST).

Rebar (12 mm)

-- Raipur based - SPEED TMT has unchanged their offers at INR 35,600/MT.

-- Raigarh based Anjani Steels Ltd. (Radhe TMT) is offering at INR 35,800/MT (down by INR 200/MT).

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 37,300/MT.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is offering at INR 37,100/MT.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT has unchanged their offers at INR 37,100/MT.

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

Reference prices as on 24th May 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,000 25,900 26,100 - 300 25,600 27,300
Ex-Mumbai HMS(80:20) 24,900 24,800 25,000 - 100 24,900 25,000
Ex-Chennai HMS(80:20) 23,600 23,500 23,800 0 23,400 24,300
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 19,700 19,600 19,800 - 100 18,900 19,400
Ex-Rourkela Mix, FeM 80%, +/-1 18,850 18,800 18,900 - 250 18,500 18,700
Ex-Raipur Mix, FeM 80%, +/-1 20,000 19,900 20,100 0 19,500 19,600
Ex-Bellary Lumps, FeM 80%, +/-1 19,300 19,200 19,400 0 18,700 19,400
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 18,600 18,500 18,700 0 17,700 18,200
Ex-Raipur Lumps, FeM 80%, +/-1 18,900 18,800 19,000 0 18,400 18,600
Ex-Bellary Lumps, FeM 80%, +/-1 19,200 19,100 19,300 + 200 18,300 18,900
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,400 19,300 19,500 0 18,900 19,500
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 34,050 34,000 34,100 - 350 33,900 34,100
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 31,300 31,200 31,400 - 200 30,900 31,300
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,300 30,300 30,400 - 200 30,100 30,600
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,900 30,800 31,000 - 100 30,500 30,900
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 32,200 32,100 32,200 - 300 32,000 33,050
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 34,400 34,300 34,500 - 300 34,200 34,500
Ex-Durgapur 100x100 mm, IS 2831 31,750 31,700 31,800 - 250 31,400 31,600
Ex-Rourkela 100x100 mm, IS 2831 30,800 30,700 30,800 - 150 30,400 30,900
Ex-Raipur 100x100 mm, IS 2831 31,550 31,500 31,600 - 150 31,100 31,500
Ex-Ahmedabad 100x100 mm, IS 2831 32,800 32,700 32,900 - 200 32,000 33,300
Ex-Mumbai 100x100 mm, IS 2831 32,500 32,400 32,500 - 250 32,300 33,300
Ex-Chennai 100x100 mm, IS 2831 32,200 32,100 32,300 - 100 31,500 32,800
Ex-Hyderabad 100x100 mm, IS 2831 32,000 31,900 32,100 - 500 31,400 32,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,900 37,800 38,200 - 100 36,900 37,700
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 37,100 36,900 37,300 - 200 36,500 36,500
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 35,400 35,300 35,600 0 34,800 35,600
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 35,600 35,400 35,800 - 200 35,600 36,900
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 36,800 36,700 37,100 - 100 36,900 37,700
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 36,000 35,800 36,200 - 200 35,200 36,000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 37,400 37,100 38,000 - 300 37,000 36,900
Ex-Raipur Wire Rod(5.5 MM) 37,100 36,500 37,700 - 100 37,000 37,900

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

24 May 2019, 18:28 IST

 

 

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