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Daily Update: Indian Semis Trade Improves

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Semi Finished
By
BigMint Bureau
1184 Reads
27 Dec 2018, 18:21 IST
Daily Update: Indian Semis Trade Improves

The price rally continued in Indian steel market through the mid size mills on improved demand from the domestic buyers, as stated by participants.

As per assessment, the prices rise by INR 100-500/MT on day trade activities, in which Rebar and Billet surge by around INR 200-500/MT, while sponge iron marked uptick of INR 100-300/MT.

The market participants are anticipating, prices to remain strong looking at better demand from the stockiest and end user segment.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,300-34,000/MT (USD 431-484) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,800-20,900/MT (USD 281-297); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 27th December 2018 (Thursday) INR to USD exchange rate stood at INR 70.31.

-- ICEX (Indian Commodity Exchange Ltd) Jan'19 contract for STEELLONG today open at INR 32,760/MT & last traded (IST 18:20) at INR 32,970/MT.

-- BSE Sensex closed at 35,807(+157) on Thursday, as against last day (Wednesday) at 35,649(+179).

-- NSE Nifty50 index was closed today at 10,779(+49).

Raw Materials

-- Odisha based iron ore miners to ramp up production in last quarter in order to utilize their existing EC limit

-- Coking coal prices decline on demand worries. Premium HCC at USD 225.75/MT, FoB Australia

-- SAIL has floated a global tender to procure a total quantity of 55,000 MT Shredded Scrap (Approx. 14,000 MT once in three months) for its Salem and Durgapur plants.

Semi Finished

-- SAIL’s Rourkela Steel Plant tender held today (27th Dec'18) to sell about 10,000 MT steel grade pig iron & had received weak response. The base price for the tender was quoted by RSP at INR 27,950/MT and only 600 MT quantity have been sold out

-- Giridih based furnaces are getting Pooled iron offers at around INR 26,500/MT FoR through the traders/stockiest. Meanwhile, Pig iron offers reported at INR 28,500-29,000/MT on ex-plant basis.

-- Electrosteels based in Bokaro is offering Steel grade Pig iron at INR 29,200-29,300/MT FoR(landed) Durgapur.

-- Indian Sponge iron export offers fall to USD 320-325/MT as against last week assessment at USD 325-330/MT CPT Benapole (dry port of India & Bangladesh).

-- Jharkhand Ispat in Giridih offered Sponge C-DRI lumps (FeM 79-80) at INR 21,500/MT, mix material (60:40) at INR 21,200/MT, Sponge P-DRI at INR 19,300/MT & Billet at INR 31,200/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 19,700/MT ex-plant.

-- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 19,700/MT & Billet at INR 30,000/MT ex-plant.

-- BMM Ispat in South India (Karnataka) has decreased offers for FeM 80 P-DRI by INR 100/MT to INR 19,500-19,600/MT ex-Bellary, an official reported.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 20,100/MT & 20,500/MT ex-plant, Karnataka; an official reported.

Wire Rod & Pipe

-- East region based Wire Rod manufacturer - Adhunik Alloys & Pvt Ltd offering Wire Rod (5.5 mm) at INR 37,000/MT, Rebar at INR 36,000/MT.

-- Raipur based wire rod manufacturers offers increased by INR 400/MT and trade discount through the manufacturers/suppliers is around INR 500-700/MT. The offers for 5.5 mm wire rod is hovering around INR 37,900/MT ex-Raipur & INR 37,000-37,300/MT ex-Durgapur.

-- Hyderabad (South India) based Pipe manufacturer Hari Om Pipe Industries Ltd has offered ERW Pipe at around INR 40,500/MT ex-plant. (basic & excluding GST).

Rebar (12 mm)

-- Rathi Steels based in North region offering at around INR 38,500/MT.

-- Raipur based - SPEED TMT slightly offering at INR 35,200/MT up by INR 100/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) offering at INR 38,500/MT FoR up by INR 300/MT.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged their offering at INR 36,800/MT.

-- West region based Bhagwati Ferro Metal (P) Ltd unchanged their offering at INR 37,100/MT.

-- South region based �" Khayati Steel Industries Pvt Ltd - offering at INR 38,600/MT.

-- South region based �" Prime Gold Int’l Ltd offering at INR 40,300/MT for Bangalore.

-- Chennai based Ponneri Steel Ind. (Triple Power) offering at INR 38,200/MT.

-- East region based �" Shakambhari Ispat & Power Ltd. offered Wire Rod 5.5 mm at INR 37,300/MT and TMT offering at INR 36,300/MT.

Note �" The prices mentioned above are ex-work, excluding GST & changes are on day basis.

Reference prices as on 27th December 2018

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 26,500 26,400 26,600 + 500 26,500 26,400
Ex-Mumbai HMS(80:20) 25,400 25,300 25,600 + 100 25,500 25,700
Ex-Chennai HMS(80:20) 24,100 24,000 24,200 - 100 24,100 25,800
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,300 20,200 20,400 + 300 20,300 21,500
Ex-Rourkela Mix, FeM 80%, +/-1 19,800 19,700 19,900   0 20,000 20,800
Ex-Raipur Mix, FeM 80%, +/-1 20,900 20,800 21,000 + 200 21,400 21,600
Ex-Bellary Lumps, FeM 80%, +/-1 20,000 19,900 20,100   0 20,000 20,400
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,100 19,000 19,200 + 200 19,000 20,500
Ex-Raipur Lumps, FeM 80%, +/-1 19,500 19,400 19,600   0 19,800 20,100
Ex-Bellary Lumps, FeM 80%, +/-1 19,600 19,500 19,700   0 19,600 19,800
Ex-Hyderabad Lumps, FeM 80%, +/-1 20,200 20,100 20,300 - 100 20,500 20,300
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 33,750 33,700 33,800 + 250 33,500 34,300
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 30,650 30,600 30,700 + 150 30,100 31,300
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 30,000 29,900 30,100 + 200 29,800 30,350
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,450 30,400 30,500 + 50 30,200 30,900
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 33,400 33,300 33,500   0 33,300 32,800
Billet Ex-Mandi Gobindgarh 125x125 mm, IS 2831 33,950 33,900 34,000 + 350 33,600 34,800
Ex-Durgapur 125x125 mm, IS 2831 31,150 31,100 31,200 + 150 30,750 31,600
Ex-Rourkela 125x125 mm, IS 2831 30,300 30,200 30,400 + 50 30,400 30,800
Ex-Raipur 125x125 mm, IS 2831 31,350 31,300 31,400 + 50 31,000 31,200
Ex-Ahmedabad 125x125 mm, IS 2831 33,600 33,500 33,700 + 400 33,600 33,000
Ex-Mumbai 125x125 mm, IS 2831 33,600 33,500 33,700   0 33,500 33,000
Ex-Chennai 125x125 mm, IS 2831 33,500 33,400 33,500   0 33,500 34,000
Ex-Hyderabad 125x125 mm, IS 2831 33,000 32,900 33,100 + 300 32,300 33,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,000 36,800 37,200 + 200 37,400 36,900
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 35,600 35,400 35,800 + 300 35,800 36,800
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 35,000 34,900 35,200 + 200 35,600 34,900
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 36,700 36,500 36,900   0 36,900 36,400
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 37,700 37,500 37,900 - 100 37,500 38,500
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 37,500 37,300 37,700 + 500 36,500 37,000
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 37,200 37,000 37,400 + 300 37,000 37,700
Ex-Raipur Wire Rod(5.5 MM) 37,900 37,200 37,900 + 400 38,400 38,300

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

27 Dec 2018, 18:21 IST

 

 

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