Daily Update: Indian Sponge & Billet Market
...
Indian Semis & Finished long steel prices slightly fluctuate by INR 100-300/MT day-on-day, through the mid size mills. As per industry sources, local demand has improved and the prices soon to find support.
Meanwhile the producers are being anticipating for positive trends looking at slight change in domestic prices and recover Chinese steel market.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,600-35,000/MT (USD 434-497) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,500-21,700/MT (USD 291-308); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 3rd December 2018 (Monday) INR to USD exchange rate stood at INR 70.40.
-- ICEX (Indian Commodity Exchange Ltd) Dec'18 contract for STEELLONG today open at INR 34,000/MT & last traded (IST 18:10) at INR 33,800/MT.
-- BSE Sensex closed at 36,241(+46) on Monday, as against last day (Friday) at 36,194(+23).
-- NSE Nifty50 index was closed today at 10,883(+7).
Raw Materials
-- Imported scrap offers to India for HMS (80:20) Europe origin in containers stood at around USD 325/MT, CFR Nhava Sheva,
Semi Finished
-- Vizag Steel - one of the largest suppliers of Pig iron in South India has reduced its prices by INR 1,000/MT (USD 14) to INR 30,000/MT (USD 428) Ex-plant, Vizag, Southern India for Dec'18 deliveries.
-- Durgapur, Eastern India based medium mills export offers to Nepal hovering at USD 535-540/MT for Wire rod(5.5 mm) & USD 445/MT for Billet(100*100 mm), ex-mill.
-- RINL has invited tender for export of 10,000 MT Billets and 40,000 MT Blooms. The due date for bid submission is 6th Dec'18.
-- Odisha based manufacturer, KJS Ahluwalia offered Billet at INR 30,700/MT & FeM 80 Sponge mix material at INR 20,700/MT ex-plant.
-- Ganesh Metaliks based in Odisha offered Billet at INR 30,800-30,900/MT ex-plant, an official reported.
-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800/MT & Billet at INR 30,800/MT ex-plant.
-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,700-19,800/MT ex-Bellary, an official reported.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 21,200/MT & Billet at INR 33,000/MT ex-plant.
-- South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,200/MT & INR 32,500/MT. Also offering 28 MM Rebar at INR 34,500/MT. All prices are ex-plant & excluding GST.
Wire rod & Pipe
-- Raipur based wire rod manufacturers kept offers unchanged and trade discount through the manufacturers/suppliers hovers at around INR 800-1,100/MT. The offers for 5.5mm wire rod is at around INR 38,300/MT ex-Raipur & INR 37,700-38,000/MT ex-Durgapur.
-- Rashmi Metaliks has slightly increased Wire rod offers and reported at INR 37,600/MT(5.5mm) ex-Kharagpur, West Bengal.
-- As per sources, JSW Steel has reduced Wire rod offers by INR 1,750/MT for Dec'18 and current offers is around 45,300/MT FoR Bangalore/Chennai (size 5.5mm, GST extra).
-- Raipur (Central India) & Mandi Gobindgarh (North India) based pipe manufacturers kept offers at firm level, offering ERW pipe at around INR 38,600/MT & INR 41,100/MT; prices are ex-plant & excluding GST.
-- Hyderabad (South India) based Pipe manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has kept offers unaltered for ERW Pipe at INR 40,500/MT ex-plant. (basic & excluding GST).
Rebar (12 mm)
-- Rathi Steels based in North region offering at INR 38,850/MT, up by INR 350/MT.
-- Raipur based - SPEED TMT unchanged their offering at INR 35,200/MT.
-- Gujarat based Shreeyam Power & Steel Industries Ltd (National TMT) unchanged their offering at INR 38,000/MT FoR.
-- Gujarat based, Akshar TMT offering at INR 37,600/MT FoR, down by INR 200/MT.
-- Jalna based Kalika Steel Alloys Pvt Ltd offering at INR 36,600/MT, down by INR 100/MT.
-- Jalna based Rajuri Steel Pvt Ltd offering at INR 36,900/MT.
-- South region based Prakash Ferrous Ind. Pvt. Ltd (Tirumala) unchanged their offering at INR 40,000/MT.
-- Chennai based ARS Steel (Trusteel) offering at INR 41,000/MT, down by INR 400/MT.
Note - the prices mentioned above are ex-works, excluding GST & changes are placed on day basis.
Reference prices as on 3rd December 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 26,600 | 26,500 | 26,700 | 0 | 26,800 | 26,900 |
| Ex-Mumbai | HMS(80:20) | 25,700 | 25,600 | 25,900 | + 200 | 25,800 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 25,300 | 25,200 | 25,500 | - 500 | 26,000 | 26,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,500 | 21,400 | 21,600 | 0 | 22,000 | 23,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,700 | 20,600 | 20,800 | 0 | 21,300 | 22,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | - 100 | 22,000 | 22,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 20,700 | 21,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,500 | 20,400 | 20,600 | 0 | 21,000 | 22,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,400 | 21,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | - 100 | 20,200 | 20,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,300 | 20,200 | 20,400 | - 100 | 20,700 | 21,700 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,550 | 34,500 | 34,600 | + 250 | 34,200 | 36,100 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,250 | 31,200 | 31,300 | + 50 | 31,500 | 33,700 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 30,400 | 30,300 | 30,400 | + 100 | 30,900 | 32,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 30,800 | 30,700 | 30,900 | 0 | 31,100 | 33,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 32,900 | 32,800 | 33,000 | 0 | 33,200 | 33,600 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 34,950 | 34,900 | 35,000 | + 150 | 34,700 | 36,900 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 100 | 31,900 | 33,900 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 30,700 | 30,600 | 30,800 | + 100 | 31,300 | 33,000 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 31,200 | 31,100 | 31,300 | 0 | 31,500 | 33,600 | |
| Ex-Ahmedabad | 125x125 mm, IS 2831 | 33,200 | 33,100 | 33,300 | - 200 | 33,900 | 34,600 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 33,100 | 33,000 | 33,200 | 0 | 33,400 | 33,800 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 33,800 | 33,800 | 34,000 | - 200 | 34,100 | 35,000 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 32,500 | 32,400 | 32,600 | 0 | 33,500 | 34,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,400 | 37,200 | 37,600 | + 200 | 37,600 | 38,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 37,300 | 39,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,000 | 34,900 | 35,200 | - 100 | 35,100 | 36,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 36,400 | 36,100 | 36,600 | 0 | 36,900 | 37,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,200 | 38,000 | 38,400 | - 300 | 38,700 | 39,800 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,000 | 36,800 | 37,200 | 0 | 37,500 | 38,000 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 38,000 | 37,800 | 38,200 | 0 | 37,900 | 39,900 |
| Ex-Raipur | Wire Rod(5.5 MM) | 38,300 | 37,300 | 38,300 | 0 | 38,600 | 40,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
