Daily Update: Indian Semis Offers Decline Marginally
...
Indian Semis market reported downtrend on 15th Feb. The prices have registered fall of - billet by INR 100-600/MT & Sponge iron by INR 100-200/MT.
The major price fall are assessed in billets in Western India- Gujarat by INR 600/MT (USD 9.5) due to poor inquiries.
SteelMint’s price assessments for induction furnaces billet size 125x125 mm are reported at INR 31,800-35,700/MT (USD 497-558) ex-plant. Further the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,600-21,700/MT (USD 322-339); prices are ex-plant & excluding GST.
On 15th Feb 2018 (Thursday) INR to USD exchange rate stood at INR 63.98 & BSE Sensex closed at 34,297 (+141).
Key Market Updates:
1. Supreme Court allows Essel Mining to resume operations from Jhilling & Koira mines. Both the mines have production capacity of around 10 MnT
2. Serajuddin mines have to wait for next hearing which is scheduled on 23rd Feb 2018
3. NMDC iron ore sales decreased by 27% (M-o-M) in Jan'18 & stood at 0.92 MnT against 1.27 MnT in Dec'17
4. Tata Metaliks, India's one of the major foundry grade pig iron manufacturer has raised its prices by INR 500/MT (USD 8). The total price rise during Feb'18 are reported at INR 800/MT.
5. Raipur, Central India based Integrated plants offer unaltered, offering Sponge P-DRI at INR 20,000-20,100/MT & Sponge DR-CLO grade at INR 22,300-22,500/MT ex-plant
6. BIOP Steels in South India has increased sponge offers by around INR 100-200/MT, offering FeM 80 & 82 C-DRI lumps at INR 21,000/MT & INR 21,500/MT ex-plant, Karnataka; officials reported.
7. South India based Cauvery Iron & Steel offers FeM 80 P-DRI & billet at INR 21,000/MT & INR 34,000/MT. Also offering 28 MM Rebar at INR 36,500-37,000/MT. prices are ex-plant & excluding GST.
8. Indian manufacturers turn active for Scrap imports - bulk bookings. As per recent conversations with market participants SteelMint learned that, towards the closing of last week a Gujarat based steel maker has booked two more bulk Shredded scrap cargoes from USA at around USD 370-380/MT, CFR Nhava Sheva.
9. GK TMT in Raipur has kept rebar (28 mm) offers unaltered at INR 36,700/MT ex-plant amid strong inquiries.
10. The big producers in Raipur & Durgapur have rolled over Wire rod prices for the day. Structure prices both light & heavy also remain unaltered in Raipur & Mumbai.
11. The steel mills in Gujarat are indicates slight fall in local scrap prices (ship breaking) as trades are not supported. Today, billet prices also fell in the market by INR 600/MT on poor inquiries.
Reference prices as on 15th February 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 21,700 | 21,600 | 21,800 | - 150 | 21,150 | 22,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,600 | 20,500 | 20,600 | - 100 | 20,300 | 21,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,400 | 21,300 | 21,500 | 0 | 20,700 | 22,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | 0 | 20,100 | 21,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 20,700 | 20,600 | 20,800 | - 150 | 20,150 | 20,900 |
| Ex-Jharsugda | Lumps, FeM 78%, +/-1 | 19,200 | 19,100 | 19,300 | 0 | NA | 20,000 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,050 | 20,000 | 20,100 | - 50 | 19,400 | 20,700 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 19,300 | 20,600 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,600 | 20,600 | 20,700 | + 100 | 19,900 | 21,200 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,100 | 35,000 | 35,200 | 0 | 33,900 | 33,500 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | - 200 | 31,300 | 31,800 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,200 | 31,300 | 0 | 30,300 | 31,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,100 | 32,000 | 32,200 | - 100 | 31,200 | 31,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | - 200 | 33,600 | 34,500 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,200 | 0 | 33,500 | 34,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,800 | 34,200 | 0 | 33,250 | 35,000 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 35,700 | 35,600 | 35,800 | - 200 | 34,700 | 34,400 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 32,650 | 32,600 | 32,700 | - 150 | 31,800 | 32,200 | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 31,800 | 31,700 | 31,900 | 0 | 30,900 | 31,700 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 32,750 | 32,700 | 32,900 | - 150 | 31,900 | 32,700 | |
| Ex-Ahmedabad | 125x125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | - 550 | 34,400 | 34,800 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 34,900 | 34,800 | 35,000 | - 300 | 33,800 | 34,700 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 34,500 | 34,300 | 34,700 | 0 | 34,000 | 35,000 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 34,000 | 34,000 | 34,200 | 0 | 33,250 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12MM | 38,500 | 38,300 | 38,700 | - 300 | 37,700 | NA |
| Ex-Durgapur | 12MM | 36,900 | 36,700 | 37,100 | 0 | 36,000 | 36,200 | |
| Ex-Raipur | 12MM | 36,500 | 36,300 | 36,700 | - 100 | 35,800 | 36,400 | |
| Ex-Mumbai | 12MM | 39,300 | 38,900 | 39,400 | 0 | 38,500 | 39,300 | |
| Ex-Chennai | 12MM | 38,700 | 38,500 | 39,000 | 0 | 38,500 | 39,250 | |
| Ex-Hyderabad | 12MM | 38,700 | 38,500 | 38,700 | 0 | 37,950 | 38,200 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
