Daily Update: Indian Semis Offers Decline Further
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Low demand leads to continuous fall in Indian Semis prices. The manufacturers have reported stockpiling in sponge iron owing to improved supply and weak demand from the EA or Induction furnaces.
Further the Billet manufacturers have stated limited inquiries from the rolling mills owing to poor off take in Finished steel products.
As per daily assessment, the Billet prices have slump by INR 200-500/MT (USD 3-7) & Sponge iron by INR 100-200/MT in major Indian markets.
SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 34,800-38,500/MT (USD 482-534) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 24,200-26,100/MT (USD 335-362); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
-- On 21st September 2018 (Friday) INR to USD exchange rate stood at INR 72.17
-- BSE Sensex closed at 36,841(-279) on Friday, as against last day (Wednesday) at 37,121(-169).
Raw Materials
-- NMDC resumes movement for Iron ore export after a gap of 5 months.
-- Indian iron ore imports in Aug'18 was recorded at 1.38 MnT, decline by 11% as against 1.55 MnT in July'18- Customs.
-- According to the latest assessment of Coking coal, spot prices of the Premium HCC are reported at around USD 206/MT FoB Australia & USD 222/MT CNF India.
-- Local manufacturers in Raigarh are offering 60-14 Silico Manganese at around INR 69,000/MT ex-plant.
Semi Finished
-- Indian induction grade Billet export offers to Nepal slump on declined domestic prices. Latest offers hovering at USD 495-498/MT Ex-Mill, Durgapur & loaded to rake, Odisha.
-- Neelachal Ispat Nigam Ltd (NINL), India’s largest and state owned steel grade pig iron manufacturer & exporter has increased pig iron prices by INR 300/MT (USD 4). The latest offers for Steel (N1) grade material are assessed at INR 30,200/MT (USD 420), ex-Cuttack, Odisha.
-- Indian sponge iron export offers to Bangladesh for lumps grade(FeM 78-80) stood at USD 370-375/MT CPT Benapole (dry land port of Bangladesh & India) and USD 390-395/MT CFR Chittagong, Bangladesh.
-- Raipur, Central India based Integrated plants offers decreased by INR 100-200/MT, offering Sponge P-DRI at INR 24,400-24,600/MT & Sponge DR CLO grade at INR 27,000-27,200/MT ex-plant.
-- A day before, Monnet Ispat offered P-DRI & C-DRI at INR 24,000/MT & INR 25,000/MT ex-plant, Raigarh; trade activities are firm at these offers an official reported.
-- Raigarh based Singhal Steel offered P-DRI at INR 23,800/MT & C-DRI at INR 25,000/MT ex-Raigarh, an official reported. Also, the company offers Billet at INR 35,600/MT FoR Raipur.
-- 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 23,700-23,800/MT ex-Bellary, Karnataka.
-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI at INR 24,100-24,200/MT & Billet at INR 36,500/MT ex-plant. Majorly deals concluded for Bangalore & Chennai, an official reported.
-- Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at around INR 23,800/MT ex-plant, an official reported.
-- ILC Iron & Steel, a prime grade sponge maker in Karnataka offered FeM 80 C-DRI lumps at INR 24,800/MT ex-plant, an official reported.
Finish Long
-- Gujarat based Shreeyam Power & Steel Industries Ltd branding as National TMT is offering 20 mm rebar at INR 47,900/MT FoR & including GST at 18%.
-- Central region, Raipur based brand - SPEED TMT has decrease their prices by around INR 200/MT on day basis and current offering at INR 37,000/MT (28 mm), ex-work & excluding GST.
-- South India - Chennai based ARS Trusteel unchanged their prices on day basis & current offering Rebar (10-25 mm) at INR 44,600/MT, ex-plant & excluding GST.
-- East region based �" Baba Smelter Pvt. Ltd has unchanged their Structure offers on day basis & current (125,150 Channel) offering at INR 42,250/MT, ex-work & excluding GST.
-- Mumbai, Maharashtra based Guardian TMT has decreased rebar prices by INR 300/MT on d-o-d basis and current offering 10-32 mm rebar at INR 40,400/MT, ex-work & excluding GST.
-- Raipur Power and Steel Ltd offering Silico Manganese at INR 70,000/MT, Sponge P-DRI at 24,600/MT, & Wire rod (5.5mm) at INR 41,700/MT ex-work & excluding GST.
Reference prices as on 21st September 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 27,900 | 27,800 | 28,000 | + 400 | 27,350 | 25,700 |
| Ex-Chennai | HMS(80:20) | 27,100 | 27,000 | 27,300 | + 600 | 25,800 | 24,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,700 | 23,600 | 23,800 | - 150 | 24,900 | 24,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 25,000 | 24,900 | 25,100 | 0 | 25,400 | 23,900 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 26,100 | 26,000 | 26,200 | - 100 | 26,700 | 25,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 24,200 | 24,000 | 24,400 | + 100 | 24,200 | 21,500 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,300 | 22,200 | 22,400 | - 200 | 23,800 | 23,600 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 24,500 | 24,400 | 24,600 | - 200 | 25,200 | 24,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 23,700 | 23,600 | 23,800 | + 100 | 23,700 | 20,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 24,300 | 24,200 | 24,400 | 0 | 24,200 | 21,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 37,000 | 36,900 | 37,100 | - 500 | 38,300 | 37,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,400 | 35,300 | 35,500 | - 500 | 36,400 | 35,400 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 34,200 | 34,100 | 34,300 | - 200 | 35,000 | 34,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | - 200 | 35,500 | 34,900 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,300 | 36,200 | 36,400 | - 300 | 37,400 | 35,100 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 38,000 | 37,900 | 38,100 | + 300 | 37,100 | 35,200 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 36,200 | 36,100 | 36,300 | - 500 | 37,200 | 35,500 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 37,600 | 37,500 | 37,700 | - 400 | 38,800 | 38,000 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 35,900 | 35,800 | 36,000 | - 500 | 36,900 | 35,900 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 35,200 | 35,100 | 35,300 | - 200 | 36,000 | 35,000 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 35,400 | 35,300 | 35,500 | - 300 | 36,500 | 36,000 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | - 450 | 37,700 | 35,450 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 38,500 | 38,400 | 38,600 | + 300 | 37,600 | 35,700 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 36,500 | 36,400 | 36,600 | - 500 | 37,500 | 35,750 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 40,700 | 40,500 | 40,900 | 0 | 40,600 | 40,500 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,300 | 40,100 | 40,500 | - 200 | 41,300 | 39,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 39,100 | 39,000 | 39,300 | - 100 | 39,400 | 39,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,400 | 40,200 | 40,600 | - 300 | 41,400 | 38,800 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 42,800 | 42,600 | 43,000 | + 300 | 42,300 | 40,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,300 | - 500 | 41,000 | 39,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
