Indian Semis market observed better demand from the local mills as prices moved up by the end of day trades. As per participants, the inquiries was poor during the 1st half, although by the end of day it improved sharply.
The Billet & Sponge iron prices rise today by INR 100-200/MT in major markets of Central, East & Northern regions. However in Southern & Western India (Gujarat) it plunge by INR 100-300/MT, day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 31,400-35,000/MT (USD 442-493) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 19,600-21,000/MT (USD 276-296); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 26th February 2019 (Tuesday) INR to USD exchange rate stood at INR 71.12
— ICEX (Indian Commodity Exchange Ltd) Mar’19 contract for STEELLONG today open at INR 34,020/MT & last traded (IST 18:25) at INR 34,320/MT.
— BSE Sensex closed at 35,973(-239) on Tuesday, as against last day (Monday) at 36,213(+341).
— NSE Nifty50 index was closed today at 10,835(-44).
Raw Materials
— Imported scrap offers to India for HMS (80:20) Europe origin containers stood at around USD 310/MT, CFR Nhava Sheva.
— South African RB2 (5500 NAR) coal offers are assessed at USD 61/MT on FoB basis & USD 70/MT CNF India, as per our last assessment.
— Southern India (Bellary) pellet prices have offers decline marginally to INR 7,200-7,400/MT (basic) this week as against the last week’s assessment at INR 7,300-7,400/MT.
Semi Finished
— Indian sponge iron export offers reduced by USD 10/MT W-o-W, price assessment for 80 FeM sponge lumps are at USD 310/MT CPT Benapole (dry land port of Bangladesh & India) and USD 330/MT CFR Chittagong, Bangladesh.
— Eastern India based producers roll over steel grade pig iron price today and reported – Neo Metaliks at INR 28,000/MT ex-Durgapur & through the Electrosteels Ltd at around INR 27,600/MT ex-Bokaro, Jharkhand.
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,700-19,900/MT & Sponge DR CLO grade at INR 22,100-22,300/MT ex-plant.
— Odisha based medium size sponge manufacturers offered FeM 80 C-DRI (70:30 mix material) at INR 20,000/MT ex-plant & excluding GST.
— Odisha based manufacturer, Ganesh Metaliks offered Billet at INR 31,500-31,600/MT ex-plant, an official reported.
— South India (Telangana) based Cauvery Iron & Steel offers FeM 80 P-DRI & Billet at INR 20,400/MT & INR 33,500/MT. Also offering 12 mm Rebar at INR 37,200/MT. All prices are ex-plant & excluding GST.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 19,600-19,700/MT ex-Bellary, an official reported.
— BIOP Steels in South India has decreased sponge prices by INR 200/MT, offering FeM 80 & 82 C-DRI lumps at INR 20,300/MT & INR 20,700/MT ex-plant, Karnataka; an official reported.
Wire Rod & Pipe
— Wire rod trade discount & offers reduced in Raipur by INR 700/MT in each and offers stood at INR 39,000/MT (ex-plant) which attracts discount of INR 800-1,000/MT as against last day at INR 1,000-1,700/MT.
— Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has offered ERW Pipe at INR 40,300/MT ex-plant. (basic & excluding GST). Offers decline by INR 500/MT.
— As per JPC- Ministry of Steel, JSPL has produced about 34,000 MT Wire rod in Jan’19, surge by 48% M-o-M in comparison with 23,000 MT in Dec’18.
Rebar (12 mm)
— Raipur based – SPEED TMT offering at INR 36,100/MT (Down by INR 100/MT).
— Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) TMT offering at INR 38,800/MT (Up by INR 200/MT).
— Mumbai based Vistar Metal Ind. Pvt. Ltd. (Vistar TMT) offering at INR 38,800/MT (Up by INR 400/MT).
— Chennai based Shakti Ferro Alloys, (SSI TMT) unchanged their offering at INR 39,000/MT.
Note – Prices mentioned above are ex-work, excluding GST & changes are placed on day basis.
Reference prices as on 26th February 2019
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 25,800 | 25,700 | 25,900 | – 200 | 25,800 | 25,700 |
| Ex-Mumbai | HMS(80:20) | 25,000 | 24,900 | 25,200 | + 100 | 25,300 | 25,200 | |
| Ex-Chennai | HMS(80:20) | 25,000 | 24,800 | 25,100 | 0 | 25,200 | 24,400 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 19,600 | 19,500 | 19,700 | + 100 | 20,500 | 20,600 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | 0 | 20,500 | 19,300 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,000 | 20,900 | 21,100 | 0 | 21,300 | 20,300 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | – 100 | 21,000 | 19,300 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 18,400 | 18,300 | 18,500 | + 100 | 19,300 | 19,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,800 | 19,700 | 19,900 | 0 | 20,300 | 18,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | 0 | 20,400 | 18,700 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,400 | 20,300 | 20,500 | – 200 | 20,900 | 19,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 34,350 | 34,300 | 34,400 | + 150 | 35,300 | 33,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 31,100 | 31,000 | 31,200 | + 100 | 32,100 | 31,200 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 31,000 | 30,800 | 31,000 | 0 | 32,000 | 30,300 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 31,900 | 31,800 | 32,000 | + 100 | 32,400 | 30,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | + 100 | 35,500 | 33,700 | |
| Billet | Ex-Mandi Gobindgarh | 100×100 mm, IS 2831 | 34,800 | 34,700 | 34,900 | + 200 | 36,000 | 34,000 |
| Ex-Durgapur | 100×100 mm, IS 2831 | 31,600 | 31,500 | 31,700 | + 200 | 32,500 | 31,700 | |
| Ex-Rourkela | 100×100 mm, IS 2831 | 31,400 | 31,300 | 31,500 | – 200 | 32,600 | 31,100 | |
| Ex-Raipur | 100×100 mm, IS 2831 | 32,800 | 32,700 | 32,900 | + 100 | 33,300 | 31,800 | |
| Ex-Ahmedabad | 100×100 mm, IS 2831 | 34,950 | 34,900 | 35,000 | – 350 | 35,200 | 33,000 | |
| Ex-Mumbai | 100×100 mm, IS 2831 | 34,950 | 34,900 | 35,000 | + 150 | 35,750 | 33,900 | |
| Ex-Chennai | 100×100 mm, IS 2831 | 34,200 | 34,000 | 34,300 | – 100 | 35,000 | 32,900 | |
| Ex-Hyderabad | 100×100 mm, IS 2831 | 33,800 | 33,500 | 34,000 | – 200 | 34,000 | 32,300 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 37,400 | 37,200 | 37,600 | – 200 | 38,500 | 37,200 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | – 100 | 37,300 | 36,500 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 35,900 | 35,700 | 36,100 | 0 | 36,400 | 34,900 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 38,300 | 38,100 | 38,600 | 0 | 38,700 | 37,000 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 38,600 | 38,500 | 38,900 | 0 | 39,100 | 37,000 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 37,200 | 37,000 | 37,400 | – 300 | 37,500 | 36,500 | |
| Wire Rod | Ex-Durgapur | Wire Rod(5.5 MM) | 36,600 | 36,400 | 36,700 | + 200 | 37,500 | 36,700 |
| Ex-Raipur | Wire Rod(5.5 MM) | 39,000 | 38,000 | 39,000 | – 700 | 40,000 | 37,900 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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