Indian Semis prices remain on downtrend due to poor off take in finished steel products. As per assessment the price fall is about INR 100-300/MT in Billet & INR 100-200/MT in Sponge iron, day-on-day.
The industry experts are assuming, further slight price corrections owing to piled up inventories and limited inquiries.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,000-35,600/MT (USD 452-504) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,900-22,600/MT (USD 295-320); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 22nd November 2018 (Thursday) INR to USD exchange rate stood at INR 70.69.
— BSE Sensex closed at 34,981(-218) on Thursday, as against last day (Wednesday) at 35,199(-274).
— NSE Nifty50 index was closed today at 10,526(-73).
Raw Materials
— As per latest assessment of Coal, spot prices of the Premium HCC stood at around USD 224.83/MT FoB Australia & USD 235/MT CNF India.
— Imported scrap offers to India for HMS (80:20) Europe origin in containers stood at around USD 330/MT, CFR Nhava Sheva, Offers decline by USD 5/MT, W-o-W.
— Melting scrap offers in Western India- Gujarat declined by INR 300/MT in a day trade activities.
Semi Finished
— Ludhiana, North India based trade participants reported steel pig iron at INR 31,500-31,700/MT & & foundry grade at INR 34,200-34,400/MT FoR & excluding GST.
— Sources reported, RINL has concluded tender for 90*90mm Billet at around USD 480/MT for 2,709 MT (equivalent to 1rake) & 150*150mm Bloom at close to USD 455-460/MT for 5,418 MT (2 rakes), ex-mill.
— The latest price assessment for Steel grade Pig iron stood at INR 30,000-30,200/MT ex-Raipur (Central India) & INR 29,000-29,300/MT ex-Durgapur (East region).
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 20,800-20,900/MT & Sponge DR CLO grade at INR 22,900-23,100/MT ex-plant
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 20,400-20,500/MT ex-Bellary, an official reported.
— BIOP Steels in South India has decreased sponge prices by INR 100-200/MT, offering FeM 80 & 82 C-DRI lumps at INR 21,200/MT & INR 21,600/MT ex-plant, Karnataka; an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,700/MT & INR 34,000/MT. Also offering 28 mm rebar at INR 35,500/MT; ex-plant & excluding GST.
Finished Long
— As per latest reports, Jindal Steel and Power Ltd (JSPL) has delivered 35,000 MT of rails to the Indian Railways during July to October 2018. The company received the order is to supply around 1 lakh MT (aprrox 560 crore) of rails over a period of one year.
— Mandi Gobindgarh, North India based ERW pipe manufacturers decreased prices by INR 300/MT & offers reported at around INR 42,500/MT ex-plant & excluding GST.
— Hyderabad (South India) based Hari Om Pipe Industries Ltd has offered ERW Pipe at INR 42,300/MT ex-plant. (basic & excluding GST).
— Rashmi Metaliks reduced wire rod offers and today’s offering at INR 38,500/MT (size 5.5mm, ex-Kharagpur).
— Raipur based wire rod suppliers kept trade discount unaltered and today’s discount at around INR 900-1,200/MT
Rebar (12 mm)
— Rathi Steels based in North region offering at INR 39,800/MT.
— Raipur based – SPEED TMT offering at INR 36,000/MT, down by INR 200/MT.
— Raigarh based Anjani Steels Limited (Radhe TMT) offering at INR 36,100/MT, down by INR 300/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT unchanged at INR 37,100/MT.
— East region based – Baba Smelter Pvt. Ltd offering Structure (125,150 Channel) at INR 39,500/MT, down by INR 250/MT.
— Chennai based ARS Steel (Trusteel) unchanged their offering at INR 41,800/MT.
Note – The prices mentioned are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 22nd November 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,300 | 27,200 | 27,400 | – 200 | 27,300 | 26,800 |
| Ex-Mumbai | HMS(80:20) | 26,500 | 26,400 | 26,600 | 0 | 26,300 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 26,300 | 26,200 | 26,500 | + 100 | 26,800 | 26,500 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 22,600 | 22,500 | 22,700 | – 100 | 23,200 | 23,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | – 100 | 21,900 | 22,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,400 | 22,300 | 22,500 | – 100 | 22,700 | 22,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,900 | 20,800 | 21,000 | – 200 | 21,600 | 22,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,550 | 21,500 | 21,600 | – 150 | 22,200 | 21,700 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | – 150 | 20,900 | 21,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | 0 | 20,900 | 21,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | 0 | 21,500 | 22,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 35,000 | 35,100 | – 300 | 35,950 | 35,950 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 32,400 | 32,300 | 32,500 | – 300 | 33,300 | 34,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,600 | 31,500 | 31,700 | – 400 | 32,400 | 32,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,200 | 32,100 | 32,300 | – 200 | 32,650 | 32,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 33,600 | 33,500 | 33,700 | – 100 | 33,800 | 33,400 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | – 300 | 36,750 | 36,750 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 32,700 | 32,600 | 32,800 | – 300 | 33,600 | 34,400 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,100 | 32,000 | 32,200 | – 300 | 32,900 | 33,300 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 32,650 | 32,600 | 32,700 | – 200 | 33,250 | 33,800 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 34,400 | 34,300 | 34,500 | – 300 | 34,750 | 34,200 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 33,900 | 33,800 | 34,000 | – 100 | 34,100 | 33,600 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | 0 | 35,000 | 35,400 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,000 | 33,900 | 34,100 | 0 | 34,500 | 34,500 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,400 | 38,700 | – 200 | 38,900 | 39,900 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 38,100 | 37,900 | 38,300 | – 400 | 39,000 | 39,300 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,100 | – 100 | 36,400 | 37,000 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,100 | 36,900 | 37,300 | – 200 | 37,700 | 37,200 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | 0 | 39,400 | 40,500 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,000 | 37,800 | 38,200 | 0 | 38,500 | 38,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 38,900 | 38,700 | 39,000 | – 300 | 39,700 | 40,500 |
| Ex-Raipur | Wire Rod(5.5 MM) | 39,300 | 38,300 | 39,300 | – 300 | 40,200 | 40,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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