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Daily Update: Indian Semis Offers Fall Further

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Semi Finished
By
BigMint Bureau
1091 Reads
16 Jul 2019, 19:11 IST
Daily Update: Indian Semis Offers Fall Further

Indian steel prices fall further due to weak demand & strong supply in across markets and as per daily assessment the prices drop by INR 100-400/MT(upto USD 6).

The Billet prices majorly fall by INR 400/MT following Rebar & Sponge iron by INR 100-300/MT, day on day in major markets.

The sources believe that, poor lifting in finished products amid average productions may further put pressure on price range.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 26,400-30,000/MT (USD 385-437) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 16,500-17,400/MT (USD 240-253); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 16th July 2019 (Tuesday) INR to USD exchange rate stood at INR 68.72.

-- ICEX (Indian Commodity Exchange Ltd) Aug'19 contract for STEELLONG today open at INR 29,410/MT & last traded (IST 19:12) at INR 29,240/MT.

-- BSE Sensex closed at 39,131(+234) on Tuesday, as against last day (Monday) at 38,896(+160).

-- NSE Nifty50 index was closed today at 11,662(+74) & Nifty Metal at 2,847(+24).

Raw Materials

-- Goan Govt to auction around 5 MnT Iron ore dumps soon, as per update received by SteelMint. The Honorable Chief Minister Pramod Sawant on Monday (15th July) said e-auction of material lying at jetties and plots will begin in about next 15-20 days.

-- India’s domestic pellet market remained slow witnessing limited trades.

-- Melting scrap offers in Indian domestic market fell by INR 100-300/MT on account of declining steel prices.

Semi Finished

-- Raipur based integrated plants holds sponge iron offers firm on account of sufficient bookings in hand and offers assessed at INR 16,600-16,700/MT, however buying interest learned at INR 16,400-16,500/MT ex-plant.

-- Rashmi Metaliks in Durgapur has further reduced Sponge P-DRI prices by INR 300/MT to INR 16,500/MT, as per market sources.

-- Raigarh based manufacturers sold billet at around INR 27,200/MT & Sponge P-DRI at INR 16,500/MT FoR Raipur, as per trade participants.

-- BMM Ispat, price trend setter in south Indian sponge iron market has roll-over sponge P-DRI prices and reported at around INR 16,300/MT ex-Bellary.

Wire Rod & Pipe

-- Trade discounts in Raipur Wire rod increased to INR 1,500-1,700/MT amid slump base price which stood at INR 33,700/MT ex-plant. Also in Durgapur the trade reference prices drop by INR 400/MT to INR 31,000-32,000/MT ex-plant.

-- East region based Wire Rod manufacturer - Adhunik Alloys & Pvt Ltd is offering Wire Rod at INR 31,500/MT.

-- ERW pipe offers in Raipur down by INR 700/MT & in Mandi Gobindgarh by INR 400-500/MT due to declined Billet prices.

Rebar (12 mm)

-- Raipur based - SPEED TMT is offering at INR 31,200/MT(down by INR 200/MT).

-- Real Ispat (GK TMT) is offering at INR 33,700/MT(down by INR 300/MT).

-- Raigarh based Scan Group branding (Shrishti TMT) is offering at INR 31,100/MT(down by INR 200/MT).

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) has unchanged their offers at INR 33,800/MT FoR.

-- Jalna based Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) has unchanged their offers at INR 32,900/MT.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT has unchanged their offers at INR 32,900/MT.

-- Chennai based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) has unchanged their offers at INR 34,500/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 16th July 2019

Products  Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 22,100 22,000 22,200 -200 22,500 25,600
Ex-Mumbai HMS(80:20) 21,100 20,900 21,300 - 100 21,300 24,300
Ex-Chennai HMS(80:20) 20,600 20,400 20,600 -200 21,200 22,400
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 17,400 17,300 17,500 -300 17,400 17,950
Ex-Rourkela Mix, FeM 80%, +/-1 16,500 16,400 16,600 -100 16,200 17,600
Ex-Raipur Mix, FeM 80%, +/-1 17,500 17,400 17,600 0 16,700 17,800
Ex-Bellary Lumps, FeM 80%, +/-1 16,500 16,400 16,600 -100 16,500 17,800
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 16,500 16,400 16,600 -200 16,400 16,950
Ex-Raipur Lumps, FeM 80%, +/-1 16,500 16,400 16,600 -100 15,800 16,700
Ex-Bellary Lumps, FeM 80%, +/-1 16,200 16,100 16,300 -100 15,900 17,300
Ex-Hyderabad Lumps, FeM 80%, +/-1 16,600 16,500 16,700 0 16,400 17,900
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 29,900 29,800 30,000 -400 29,900 32,500
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 26,400 26,300 26,500 -300 26,500 29,300
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 26,000 25,900 26,100 -300 26,000 28,300
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 26,600 26,500 26,700 -400 26,300 28,600
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 27,700 27,600 27,800 -300 27,400 30,500
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 30,000 29,900 30,100 -400 30,000 32,700
Ex-Durgapur 100x100 mm, IS 2831 27,000 26,900 27,100 -300 27,000 29,800
Ex-Rourkela 100x100 mm, IS 2831 26,400 26,300 26,500 -200 26,500 28,700
Ex-Raipur 100x100 mm, IS 2831 27,200 27,100 27,300 -300 26,900 29,200
Ex-Ahmedabad 100x100 mm, IS 2831 28,700 28,600 28,800 -350 28,100 31,850
Ex-Mumbai 100x100 mm, IS 2831 27,900 27,800 27,900 -350 27,650 30,700
Ex-Chennai 100x100 mm, IS 2831 29,200 29,100 29,300 -300 29,500 30,300
Ex-Hyderabad 100x100 mm, IS 2831 28,500 28,200 28,500 -300 28,000 29,800
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 34,400 34,300 34,600 -100 34,500 36,600
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 31,800 31,600 32,000 -200 32,500 34,600
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 31,000 30,900 31,100 - 100 31,400 33,800
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 31,300 31,200 31,500 - 200 31,100 33,900
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 33,800 33,700 34,000 -200 34,200 35,700
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 32,500 32,500 32,800 -200 32,000 34,000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 31,300 31,000 32,000 -400 31,700 34,500
Ex-Raipur Wire Rod(5.5 MM) 32,900 32,200 33,700 -200 32,800 34,900

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

16 Jul 2019, 19:11 IST

 

 

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