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Daily Update: Indian Semis Offers Rise Marginally

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BigMint Bureau
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17 May 2019, 18:20 IST
Daily Update: Indian Semis Offers Rise Marginally

Indian Billet prices slightly rise by INR 100-300/MT today and majorly in Gujarat, Western India owing to planned production cuts by furnaces on falling margins.

However the Rebar prices fluctuated by INR 100-200/MT in across major markets. In line Sponge iron, prices moved up by INR 100-200/MT following surge in Billet offers.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,400-34,200/MT (USD 433-487) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,500-19,500/MT (USD 263-278); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 17th May 2019 (Friday) INR to USD exchange rate stood at INR 70.18.

-- ICEX (Indian Commodity Exchange Ltd) Jun'19 contract for STEELLONG today open at INR 33,570/MT & last traded (IST 18:15) at INR 33,550/MT.

-- BSE Sensex closed at 37,930(+537) on Friday, as against last day (Thursday) at 37,393(+278).

-- NSE Nifty50 index was closed today at 11,407(+150).

Raw Materials

-- Indian IRON ORE exports expected to cross 1.5 MnT in May. Indian low grade fines (Fe 57%) at around USD 57-58/MT, FoB India.

-- Due to fall in margins(Conversions), BIFA (Bhavnagar Induction Furnace Association) has decided that all furnaces will shut down for two days once a week (Saturday/Sunday) & final amendments will be taken after a month- Source

-- Melting scrap offers in Western India- Gujarat incline by INR 200/MT in a day trade activities.

Semi Finished

-- Rail Wheel Factory (Formerly Wheel and Axle Plant) is situated in Bangalore, India has invited tender for the purchase of 5,190 MT Bloom. Due date for submitting the offer is 06 June’19 till 14:15 hrs.

-- In Durgapur (East India), induction furnaces conversion spread (margins) rise near about INR 1,000/MT (USD 14) in last 3-4 weeks due to sharp fall in sponge prices by INR 1,000-1,500/MT amid fall of INR 500-700/MT in Billet.

-- Rashmi Metaliks in Durgapur has raised sponge P-DRI prices by INR 100-200/MT to INR 17,700-17,800/MT, as per sources.

-- Integrated plants in Raipur have increased sponge P-DRI prices by INR 200/MT to INR 18,400-18,500/MT, however deals majorly reported at INR 18,300-18,400/MT ex-plant.

-- Odisha based manufacturer, KJS Ahluwalia offered billet at INR 30,200/MT ex-plant. And also offering FeM 80 Sponge mix material at INR 18,300-18,400/MT ex-plant.

-- Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge C-DRI (70:30) & P-DRI (FeM 80) at INR 19,900/MT & INR 18,300/MT, ex-plant & excluding GST.

-- ILC Iron & Steel, a prime grade sponge maker in Karnataka offered FeM 80 P-DRI at INR 18,500/MT ex-plant, an official reported.

-- Apple Industries in Bellary (Karnataka) offered Sponge FeM 83+ P-DRI lump at INR 19,500/MT & Billet at INR 31,200/MT ex-plant.

-- BIOP Steels in South India has decreased sponge prices by INR 100/MT, offering FeM 80 & 82 C-DRI lumps at INR 18,800/MT & INR 19,200/MT ex-plant, Karnataka; an official reported.

Wire Rod & Pipe

-- Trade discounts in Raipur Wire rod reduced at INR 500-700/MT on rising Billet prices. Meanwhile basic offers through the manufacturers stood at INR 37,200/MT ex-Raipur & INR 36,800-37,500/MT ex-Durgapur.

-- Raipur, Central India based ERW pipe manufacturers offers reported at around INR 37,300-37,500/MT ex-plant & excluding GST.

-- Mandi Gobindgarh, North India based ERW pipe manufacturers offers reported at around INR 40,000/MT ex-plant & excluding GST.

Rebar (12 mm)

-- Rathi Steels based in North region current offering around INR 38,000/MT (ex-Delhi).

-- Raipur based - SPEED TMT has unchanged their offers at INR 35,000/MT.

-- Real Ispat (GK TMT) is offering at INR 37,300/MT (up by INR 300/MT).

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

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 36,600/MT FoR.

-- Jalna based Rajuri Steel Pvt. Ltd. (Rajuri) TMT is offering at INR 36,500/MT (up by INR 400/MT).

-- Chennai based Ponneri Steel Ind. (Triple Power) is offering at INR 37,300/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 17th May 2019.

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 25,600 25,500 25,700 + 200 26,000 26,400
Ex-Mumbai HMS(80:20) 24,900 24,800 25,000   0 24,900 25,100
Ex-Chennai HMS(80:20) 23,400 23,200 23,500 - 100 23,700 24,600
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 18,900 18,800 19,000 + 100 18,800 20,200
Ex-Rourkela Mix, FeM 80%, +/-1 18,500 18,400 18,600   0 18,700 18,750
Ex-Raipur Mix, FeM 80%, +/-1 19,500 19,400 19,600 + 100 19,600 19,600
Ex-Bellary Lumps, FeM 80%, +/-1 18,700 18,600 18,800   0 19,000 19,800
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 17,700 17,600 17,800 + 100 17,600 18,900
Ex-Raipur Lumps, FeM 80%, +/-1 18,400 18,300 18,500 + 100 18,500 18,550
Ex-Bellary Lumps, FeM 80%, +/-1 18,300 18,200 18,400   0 18,600 19,300
Ex-Hyderabad Lumps, FeM 80%, +/-1 18,900 18,800 19,000   0 19,200 19,800
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 33,900 33,800 34,000 - 50 34,100 34,500
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 30,900 30,800 31,000   0 31,200 31,500
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,100 30,000 30,100 + 50 30,200 30,800
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,500 304 30,400 + 100 30,600 30,800
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 32,000 31,900 32,100   0 32,500 32,900
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 34,200 34,100 34,300   0 34,500 34,800
Ex-Durgapur 100x100 mm, IS 2831 31,400 31,300 31,500   0 31,600 31,900
Ex-Rourkela 100x100 mm, IS 2831 30,400 30,300 30,400 + 50 30,600 31,100
Ex-Raipur 100x100 mm, IS 2831 31,100 31,000 31,200 + 200 31,300 31,500
Ex-Ahmedabad 100x100 mm, IS 2831 32,000 32,000 32,100 + 350 32,000 33,650
Ex-Mumbai 100x100 mm, IS 2831 32,300 32,200 32,400   0 32,750 33,100
Ex-Chennai 100x100 mm, IS 2831 31,500 31,500 31,700   0 31,800 33,200
Ex-Hyderabad 100x100 mm, IS 2831 31,400 31,300 31,500 - 100 32,000 32,500
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 36,900 36,700 37,100   0 37,200 38,000
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 36,500 36,300 36,700 + 200 36,500 37,300
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 34,800 34,700 35,000 + 100 35,200 35,900
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 35,600 35,400 36,000 - 100 36,000 36,900
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 36,900 36,800 37,200 - 100 37,200 37,700
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 35,200 35,000 35,400   0 35,700 36,200
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 37,000 36,800 37,500 + 200 37,000 37,400
Ex-Raipur Wire Rod(5.5 MM) 37,000 36,600 37,200   0 37,700 38,400

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

17 May 2019, 18:20 IST

 

 

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