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Daily Update: Indian Semis Offers Rise

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Semi Finished
By
BigMint Bureau
950 Reads
29 May 2018, 18:30 IST
Daily Update: Indian Semis Offers Rise

Indian Semi finished market reports further rise in prices, Billet by INR 100-300/MT & Sponge iron around INR 100/MT, day-on-day. The participants in Central, East & West India stated good demand.

The standalone Induction grade Billet producers in Durgapur & Rourkela, East India also shared that healthy bookings in hand for that they are not in hurry to deal in bulk and are wait & watch mode to sale it at higher prices.

SteelMint's Indian domestic Billet price assessment today stood at INR 36,000-39,600/MT (USD 530-584) ex-plant and coal based sponge (78-80 FeM) C-DRI price was at INR 20,700-21,800/MT (USD 305-322); prices are ex-plant & excluding GST.

In context to export, 100*100mm Induction grade Billet export offers for Nepal assessed at USD 545-550/MT ex-mill, Durgapur & USD 535-540/MT ex-mill, Rourkela.

Rupee & BSE Sensex

-- On 29th May 2018 (Tuesday) INR to USD exchange rate stood at INR 67.80

-- BSE Sensex closed at 34,949(-216) on Tuesday, as against last day (Monday) at 35165(+240)

Raw material

-- SAIL planning to source 50,000 MT Iron ore from NMDC per month over low production from its Dalli captive mines in Chhattisgarh- Sources

-- Eastern India (Durgapur) pellet makers have increased prices by INR 450/MT W-o-W to INR 6,200-6,300/MT (delivered). Inline Southern India (Bellary) based pellet makers have increased offers by INR 200/MT to 6,900/MT. All prices are ex-works & excluding taxes.

-- Goa based plants have booked 20 ft containerized melting scrap at USD 350/MT, 20-21 MT loading from West Africa & arrival period would be approximate after couple of months.

Semi finished

-- Indian sponge iron export offers reduced by USD 10/MT W-o-W, price assessment for 80 FeM sponge lumps hovering at USD 345-350/MT CPT Benapole (dry land port of Bangladesh & India) and USD 365-370/MT CFR Chittagong, Bangladesh.

-- Vizag Steel has invited a tender for export of 11,008 MT Billet and 5,504 MT Wire rods to Nepal & the due date for submitting the offer is 1st Jun’18

-- Raipur, Central India based Integrated plants have raised offers by INR 100-200/MT day-on-day and offering Sponge P-DRI at INR 19,600-19,700/MT ex-plant.

-- Central India - Raigarh based Monnet Ispat sold a rake (2,600 MT approx) of Sponge C-DRI (70:30 mix Lumps & fines) to Nepal during last week-end at around USD 315/MT, ex-plant Raigarh basis, officials shared.

-- Odisha based sponge manufacturer sold FeM 80 C-DRI lumps to Jalna (Maharashtra) at INR 23,000/MT FoR Jalna.

-- Jharsugda, Odisha based manufacturers offered & concluded few deals of Billet to Raipur at INR 36,900-37,000/MT on FoR basis.

-- BMM Ispat in Karnataka has offered sponge P-DRI at INR 19,800-19,900/MT and Sunvik Steels sponge C-DRI lumps at INR 21,300/MT. Both offers for FeM 80, excluding GST & ex-plant basis.

-- Goa based billet manufacturer have sold Billet to Pune at INR 36,900/MT FoR basis and due to this local price range might get slightly hike. Steel grade Pig Iron prices in Goa assessed at INR 28,500/MT ex-work.

Finish Long

-- North region based Rathi Steels have increased their Rebar prices by around INR 500/MT d-o-d basis and offering 12mm at INR 45,600/MT; ex-works & excluding GST.

-- East Region, Durgapur based �" Shakambhari Ispat & Power Ltd has increased Wire rod (5.5mm) offers by around INR 500/MT to INR 42,000/MT; ex-work & excluding GST.

-- Kalika Steel Alloys in Jalna unchanged their prices d-o-d basis & offering 28 mm rebars at INR 39,200/MT ex-plant & excluding GST. As per official conversation supply movement is going good with existence of demand at this price range.

-- The suppliers in Raipur have slightly decreased trade discount on Wire rod to INR 800/MT as yesterday discount was around INR 1,200/MT, size - 5.5 MM. As per participants demand is good on Wire rod.

-- Raipur Power and Steel Ltd offering Wire Rod (5.5 MM) at INR 41,900/MT & Raw Pellet at INR 6,000/MT & Sponge P-DRI at INR 19,500/MT, ex-work & excluding GST. As per official conversation demand is good & doesn’t seem a major obstacle for near term.

Reference prices as on 29th May 2018

  Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Chennai HMS(80:20) 26,700 26,600 26,800   0 26,700 26,400
Ex-Mumbai HMS(80:20) 27,500 27,400 27,600 + 100 27,600 26,600
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 21,900 21,800 22,000 + 150 21,700 22,900
Ex-Rourkela Mix, FeM 80%, +/-1 20,800 20,700 20,900   0 20,900 21,300
Ex-Raipur Mix, FeM 80%, +/-1 21,750 21,700 21,800   0 21,900 22,300
Ex-Bellary Lumps, FeM 80%, +/-1 20,700 20,500 20,800   0 20,500 19,700
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 20,450 20,400 20,500 + 150 20,300 21,500
Ex-Raipur Lumps, FeM 80%, +/-1 19,650 19,600 19,700 + 100 19,700 20,200
Ex-Bellary Lumps, FeM 80%, +/-1 19,800 19,700 19,900   0 19,500 18,900
Ex-Hyderabad Lumps, FeM 80%, +/-1 20,500 20,400 20,600   0 20,300 19,700
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 39,100 39,000 39,200   0 39,000 38,700
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 36,400 36,300 36,500 + 200 35,800 36,500
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 35,900 35,800 36,000 + 100 35,000 35,200
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 36,100 36,000 36,200 + 50 35,400 35,000
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 36,800 36,700 36,900 + 200 36,300 36,800
Ex-Chennai 3.5 x 4.5 Inch, IS 2830 36,300 36,000 36,500 + 200 35,300 36,500
Ex-Hyderabad 3.5 x 4.5 Inch, IS 2830 35,700 35,600 35,800   0 35,700 35,700
Billet Ex-Mandi Gobindgarh 125x125 mm, IS 2831 39,900 39,800 40,000   0 39,700 39,400
Ex-Durgapur 125x125 mm, IS 2831 37,000 36,900 37,100 + 200 36,500 37,000
Ex-Rourkela 125x125 mm, IS 2831 36,400 36,300 36,500 + 100 35,600 35,700
Ex-Raipur 125x125 mm, IS 2831 37,250 37,200 37,300 + 150 36,700 36,000
Ex-Mumbai 125x125 mm, IS 2831 37,100 37,000 37,200 + 150 36,800 37,000
Ex-Chennai 125x125 mm, IS 2831 36,750 36,500 37,000 + 150 35,800 37,000
Ex-Hyderabad 125x125 mm, IS 2831 36,000 35,900 36,100   0 36,000 36,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 44,300 44,100 44,500 + 500 42,500 41,700
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 41,550 41,350 41,750 + 250 41,050 41,300
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 41,500 41,300 41,700 + 300 40,400 39,700
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 40,700 40,300 40,800 + 100 40,600 40,600
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 41,000 40,700 41,200   0 40,600 41,000
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 40,500 40,300 40,700   0 40,500 40,500

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

29 May 2018, 18:30 IST

 

 

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