Indian Semi finished steel prices marginally fall on day trade activities amid average trade activities. As per assessment, the Billet prices declined by INR 100-400/MT & Sponge iron by INR 100-200/MT, day-on-day.
Industry participants are believed, Semis prices to less likely fall and may remain supported.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 32,800-36,800/MT (USD 451-506) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 21,700-23,500/MT (USD 298-323); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 13th November 2018 (Tuesday) INR to USD exchange rate stood at INR 72.66.
— BSE Sensex closed at 35,144(+331) on Tuesday, as against last day (Monday) at 34,812(-345).
— NSE Nifty50 index was closed today at 10,582(+100).
Raw Materials
— Jindal SAW has resumed quoting offers in the domestic market and current offers for Fe 63% pellets are assessed at INR 9,200/MT (delivered Kandla).
— Odisha’s merchant iron ore miner – Rungta Mines dispatched iron ore at 1.68 MnT in Oct’18, surge by 10% M-o-M as against 1.53 MnT in Sept’18.
— Odisha based merchant iron ore miner trade discount widens by INR 100-200/MT M-o-M. Current assessment at around INR 2,800-3,000/MT for Fe 63% fines & INR 5,500/MT (ex-mines, incl Royalty, DMF & NMET).
— South African RB2 (5500 NAR) coal offers are assessed at USD 70/MT on FoB basis & USD 85/MT CNF India.
Semi Finished
— Indian medium mills export offers to Nepal hovering at USD 460-465/MT for Billet & USD 545/MT for Wire rod (5.5 mm), ex-mill at Durgapur.
— NINL has kept offers steady for N2 grade & High Silicon (Foundry grade) pig iron which is valid till 20th Nov’18. Offering high silicon (2% to 5%), Foundry Pig iron at INR 29,900/MT (USD 411) & N2 grade Pig iron at INR 29,400/MT (USD 405) ex-plant, Cuttack, East India.
— Raipur, Central India based Integrated plants offers decreased by INR 100-200/MT, offering Sponge P-DRI at INR 21,000-21,100/MT & Sponge DR CLO grade at INR 23,300-23,500/MT ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 22,000/MT & Billet at INR 33,000/MT ex-plant. As per officials, trade activities are weak at the offer prices.
— Odisha based manufacturer, KJS Ahluwalia offered billet at INR 32,800/MT & Sponge iron (mix material) FeM 80 at INR 22,000/MT ex-plant.
— Few Barbil (Odisha) based trade sources reported, billet deals at INR 32,500-32,600/MT ex-plant.
— BMM Ispat in South India (Karnataka) has reduced offers for FeM 80 P-DRI by INR 100/MT to INR 21,000-21,100/MT ex-Bellary.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 21,800/MT & INR 22,300/MT ex-plant, Karnataka.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 80 P-DRI at INR 21,000-21,200/MT ex-plant, an official reported.
Wire rod & Pipe
— Steel Authority of India Ltd (SAIL) reduced wire rod offers by INR 800/MT for Nov’18 deliveries and offering at INR 43,000/MT (5.5-6mm, ex-Bhilai).
— Hyderabad (South India) based Pipe manufacturer – Mahalakshmi Profiles Pvt. Ltd (MPL) has kept offers unaltered for ERW Pipe at INR 42,000/MT ex-plant & excluding GST.
— Raipur based wire rod manufacturers have reduced offers by INR 200/MT and reported 5.5mm at INR 40,200/MT ex-plant. Meanwhile, offers for same material in Durgapur hovering at INR 39,800-40,000/MT ex-plant.
— Raipur based wire rod suppliers have maintained trade discount and today’s discount at around INR 800-1,200/MT.
Rebars (12 mm)
— GK TMT rebar offers remain unaltered at INR 39,300/MT ex-Raipur.
— Raipur based – SPEED TMT unchanged their offer at INR 36,800/MT.
— Gujarat based, Akshar TMT unchanged offers unaltered at INR 37,900/MT.
— Jalna based Kalika Steel Alloys Pvt Ltd has rolled over rebar offers at INR 37,700/MT.
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT has maintained offers at INR 37,700/MT.
— South region based – Khayati Steel Industries Pvt Ltd – offering rebar at INR 39,900/MT.
— Chennai based ARS Steel (Trusteel) unchanged their offering at INR 42,100/MT.
Note – the prices mentioned above are ex-work, excluding GST and changes are placed on day basis.
Reference prices as on 13th November 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 27,500 | 27,400 | 27,600 | – 200 | 27,100 | 26,700 |
| Ex-Mumbai | HMS(80:20) | 25,900 | 25,800 | 26,000 | + 200 | 25,700 | 25,500 | |
| Ex-Chennai | HMS(80:20) | 26,800 | 26,700 | 27,000 | 0 | NA | 26,200 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,500 | 23,400 | 23,600 | – 100 | 23,400 | NA |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 22,000 | 21,900 | 22,100 | – 200 | 22,200 | 22,100 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 22,800 | 22,700 | 22,900 | – 100 | 22,900 | 23,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | – 100 | 21,600 | 21,600 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 22,400 | 22,300 | 22,500 | 0 | 22,300 | NA |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | – 150 | 21,100 | 21,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | – 100 | 20,800 | 20,800 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | – 100 | 21,700 | 21,600 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | 0 | 36,300 | 36,000 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 33,400 | 33,300 | 33,500 | – 200 | 33,800 | 33,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 32,400 | 32,300 | 32,500 | – 100 | 32,800 | 32,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 32,800 | 32,700 | 32,900 | – 200 | 33,100 | 33,100 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,000 | 33,900 | 34,100 | – 300 | 33,800 | 33,900 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,700 | 34,900 | – 100 | 34,500 | 35,200 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,300 | 34,700 | – 200 | 34,200 | 34,500 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 36,800 | 36,700 | 36,900 | 0 | 37,100 | 36,800 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 33,800 | 33,700 | 33,900 | – 100 | 34,000 | 34,300 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 32,900 | 32,800 | 33,000 | – 200 | 33,200 | 33,100 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 33,400 | 33,300 | 33,500 | – 200 | 33,700 | 34,000 | |
| Ex-Ahmedabad | 125×125 mm, IS 2831 | 34,500 | 34,400 | 34,600 | – 400 | 34,600 | 34,400 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 34,300 | 34,200 | 34,400 | – 300 | 34,100 | 34,100 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,200 | 35,200 | 35,400 | – 100 | 35,000 | 35,700 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 34,800 | 34,500 | 35,000 | – 200 | 34,500 | 34,800 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 39,400 | 39,300 | 39,600 | 0 | 39,100 | 39,100 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 39,000 | 38,800 | 39,200 | – 300 | 39,500 | NA | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 36,600 | 36,600 | 36,800 | 0 | 36,400 | 37,400 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 37,900 | 37,600 | 38,100 | 0 | 37,600 | 38,300 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 39,700 | 39,500 | 39,900 | – 300 | NA | 40,700 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 38,700 | 38,500 | 38,900 | – 300 | 38,500 | 38,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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