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Daily Update: Indian Semis Trade Improves

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BigMint Bureau
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10 Jan 2019, 18:20 IST
Daily Update: Indian Semis Trade Improves

Indian steel prices surge today in major markets following improved trade activities. As per assessment the Rebar & Billet prices gain by around INR 100-500/MT (upto USD 7).

The Sponge iron producers being raised their prices by around INR 100-300/MT day-on-day in Central & Eastern regions. However it fell in Southern India by INR 100-200/MT on improved supply through the big plants.

Market expects prices to remain volatile as demand is subdued from domestic buyers amid strong supply in major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,300-33,800/MT (USD 430-480) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,100-20,200/MT (USD 271-287); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 10th January 2019 (Thursday) INR to USD exchange rate stood at INR 70.41.

-- ICEX (Indian Commodity Exchange Ltd) Feb'19 contract for STEELLONG today open at INR 33,060/MT & last traded (IST 18:18) at INR 32,900/MT.

-- BSE Sensex closed at 36,106(-106) on Thursday, as against last day (Wednesday) at 36,212(+231).

-- NSE Nifty50 index was closed today at 10,821(-33).

Raw Materials

-- As per vessel line up data maintained with SteelMint, Indian bulk scrap imports recorded at 515,121 MT in CY18, surge by 37% Y-o-Y as against 376,600 MT bulk scrap imports recorded during CY17.

-- South African RB2 (5500 NAR) coal offers are assessed at USD 62/MT on FoB basis & USD 76/MT CNF India. Prices decline by USD 2/MT on weekly basis.

Semi Finished

-- Indian sponge iron export offers reduced by USD 5/MT W-o-W, price assessment for 80 FeM sponge lumps are at USD 320-325/MT CPT Benapole (dry land port of Bangladesh & India) and USD 340-345/MT CFR Chittagong, Bangladesh.

-- MMTC extends 30,000 MT Pig export tender till 18th Jan on subdued response.

-- Raipur, Central India based Integrated plants offers increased by INR 100-200/MT, offering Sponge P-DRI at INR 18,500-18,700/MT & Sponge DR CLO grade at INR 21,000-21,200/MT ex-plant.

-- Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 19,300-19,400/MT ex-plant & excluding GST.

-- Bellary, Karnataka based furnace owners offering billet at around INR 31,800-32,000/MT on ex-plant basis.

-- BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 19,600/MT & INR 20,000/MT ex-plant, Karnataka; an official reported.

-- BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 18,600-18,700/MT ex-Bellary, offers decline by INR 200/MT from the last trade; an official reported.

Wire Rod & Pipe

-- Raipur based wire rod manufacturers increased offers by INR 400/MT and trade discount through the manufacturers/suppliers is around INR 900-1,100/MT. The offers for 5.5 mm wire rod is hovering around INR 38,100/MT ex-Raipur & INR 36,700-37,000/MT ex-Durgapur.

-- Rashmi Metaliks wire rod offers increased by INR 200/MT and reported at INR 36,800/MT (5.5 mm), ex-Kharagpur, east India.

-- Raipur, Central India based ERW pipe manufacturers decreased prices by INR 200/MT & offers reported at around INR 36,800/MT ex-plant & excluding GST.

-- Hyderabad (South India) based manufacturer Hari Om Pipe Industries Ltd has offered ERW Pipe at around INR 39,700/MT ex-plant. (basic & excluding GST).

Rebar (12 mm)

-- Rathi Steels based in North region offering at around INR 38,250/MT (Up by INR 250/MT).

-- Raipur based - SPEED TMT offering at INR 35,200/MT (Up by INR 200/MT).

-- Raipur based - GK TMT offering at INR 37,200/MT, up by INR 200/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) offering at INR 38,600/MT FoR (Up by INR 400/MT).

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 36,700/MT (Up by INR 400/MT).

-- Chennai based ARS Steel (ARS 500 D) unchanged their offering at INR 40,500/MT.

-- Chennai based Ponneri Steel Ind. (Triple Power) offering at INR 37,800/MT.

-- As per sources, a few large mills are offering rebar in big infra projects at around INR 39,500-40,000/MT (ex-Chennai, size-12 mm, GST extra).

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

Reference prices as on 10th January 2019

Particular/Delivery Size, Grade, Origin Prices Min Max Change 1W 1M
Scrap Ex-Alang HMS(80:20) 25,800 25,700 25,900 + 400 25,900 26,200
Ex-Mumbai HMS(80:20) 25,000 24,800 25,200   0 25,200 26,000
Ex-Chennai HMS(80:20) 24,300 24,100 24,500 + 200 24,200 24,900
C-DRI Ex-Durgapur Mix, FeM 78%, +/-1 20,150 20,100 20,200 + 250 20,800 20,200
Ex-Rourkela Mix, FeM 80%, +/-1 19,350 19,300 19,400 + 150 19,900 20,400
Ex-Raipur Mix, FeM 80%, +/-1 20,100 20,000 20,200 + 100 20,800 21,400
Ex-Bellary Lumps, FeM 80%, +/-1 19,100 19,000 19,200 - 200 19,800 20,400
P-DRI Ex-Durgapur Lumps, FeM 78%, +/-1 19,050 19,000 19,100 + 250 19,600 19,150
Ex-Raipur Lumps, FeM 80%, +/-1 18,550 18,500 18,600 + 100 19,100 19,900
Ex-Bellary Lumps, FeM 80%, +/-1 18,700 18,600 18,800 - 100 19,500 19,800
Ex-Hyderabad Lumps, FeM 80%, +/-1 19,500 19,400 19,600 - 100 20,200 20,600
Ingot Ex-Mandi Gobindgarh 3.5 x 4.5 Inch, IS 2830 33,550 33,500 33,600 - 100 33,700 33,800
Ex-Durgapur 3.5 x 4.5 Inch, IS 2830 30,400 30,300 30,500 + 50 31,200 30,100
Ex-Rourkela 3.5 x 4.5 Inch, IS 2830 29,800 29,700 29,900 + 50 30,300 29,800
Ex-Raipur 3.5 x 4.5 Inch, IS 2830 30,300 30,200 30,400 + 100 30,600 30,200
Ex-Mumbai 3.5 x 4.5 Inch, IS 2830 33,200 33,100 33,300 + 400 32,900 32,500
Billet Ex-Mandi Gobindgarh 100x100 mm, IS 2831 33,750 33,700 33,800 - 200 34,000 34,100
Ex-Durgapur 100x100 mm, IS 2831 30,900 30,800 31,000 + 100 31,600 30,600
Ex-Rourkela 100x100 mm, IS 2831 30,300 30,200 30,400 + 100 30,700 30,200
Ex-Raipur 100x100 mm, IS 2831 31,100 31,000 31,200   0 31,500 30,800
Ex-Ahmedabad 100x100 mm, IS 2831 33,600 33,500 33,700 + 400 33,200 33,100
Ex-Mumbai 100x100 mm, IS 2831 33,400 33,300 33,500 + 400 33,100 32,900
Ex-Chennai 100x100 mm, IS 2831 32,800 32,600 33,000   0 33,300 33,500
Ex-Hyderabad 100x100 mm, IS 2831 32,500 32,400 32,600 + 500 32,500 32,000
TMT Ex-Delhi/NCR 12-25 MM, IS 1786- 500 Fe 37,000 36,800 37,200 + 300 37,400 37,200
Ex-Durgapur 12-25 MM, IS 1786- 500 Fe 35,500 35,300 35,800   0 36,500 36,200
Ex-Raipur 12-25 MM, IS 1786- 500 Fe 35,000 34,800 35,200 + 400 35,300 34,800
Ex-Mumbai 12-25 MM, IS 1786- 500 Fe 36,500 36,200 36,700 + 400 36,400 36,000
Ex-Chennai 12-25 MM, IS 1786- 500 Fe 37,000 36,800 37,200   0 37,400 37,700
Ex-Hyderabad 12-25 MM, IS 1786- 500 Fe 37,000 36,800 37,200 + 500 37,200 36,800
Wire Rod Ex-Durgapur Wire Rod(5.5 MM) 36,800 36,600 38,000 + 100 37,900 37,000
Ex-Raipur Wire Rod(5.5 MM) 38,100 37,200 38,100 + 400 38,600 37,800

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

10 Jan 2019, 18:20 IST

 

 

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