Indian Semis prices continue to decline owing to poor demand by domestic buyers. Today, sponge offers corrected by INR 100-300/MT and billet in the range of INR 100-600/MT (upto USD 10).
According to the producer sources, “with falling prices, the buyers cautious and are in wait & watch mode to take position.”
Major fall in sponge prices reported in South India – Bellary by INR 200-300/MT. Where as billet offers sharply fall in South region – Hyderabad, Chennai & in Western India – Mumbai by INR 300-600/MT.
On 25st Sept, SteelMint’s price assessment for induction furnaces billet size 125×125 mm are reported at INR 25,800-27,700/MT (USD 403-433). While, 78-80 FeM sponge C-DRI price assessment was at INR 16,300-17,800/MT (USD 260-274). All prices are ex-plant & excluding GST.
Today (Monday, September 25, 2017) INR to USD exchange rate stood at INR 65.11 & BSE Sensex closed at 31,626 (-295).
Updates
1. Integrated plants in Raipur & Durgapur have kept sponge P-DRI offers unaltered. The offers are reported at INR 15,800-16,000/MT ex-Raipur & in Durgapur at INR 16,500-16,600/MT; prices are excluding of GST.
2. Big plants in Raipur, Central India who are making Wire rod & HB Wire heard trade discount of INR 1,000-1,500/MT, than the offer price.
3. Few medium size standalone rebar producers in Maharashtra are planning to put the plant on maintenance temporarily due to low margins and stock piling.
4. Private pig iron manufacturers in Durgapur-Eastern India further reduce prices by INR 500/MT. Fresh offers are hovering at INR 23,500-23,700/MT.
5. IISCO (SAIL’s unit) heard to have booked a rake for Steel grade pig iron around INR 23,800/MT (ex-plant) for Howrah.
6. Odisha based 100-350 TPD sponge manufacturers reported weak demand specifically from Western region on falling scrap & billet prices in the region. The offers are reported at INR 16,300-16,500/MT and little buying interest observed at around INR 16,100-16,200/MT.
7. Sunvik Steels in South India-Bellary had cut prices by INR 400/MT, offers for FeM 80 C-DRI lumps are evaluated at INR 17,000/MT ex-plant. However, same grade material being offered by few small size manufacturers at INR 16,300-16,500/MT.
8. RINL also known as Vizag Steel has invited tender for export of 15,000 MT blooms for Oct end shipment. Company’s previous tender for export of billets was concluded at around USD 480-490/MT (ex-mill)- sources.
9. India’s flat steel imports jumped 9% in Aug’17. India imported 0.76 MnT of flat steel in Aug’17 compared to 0.7 MnT in Jul’17.
Reference prices as on 25 September 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,500 | 17,400 | 17,600 | -100 | 17,550 | 18,250 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | -300 | 17,200 | 17,700 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,300 | 17,100 | 17,500 | -200 | 18,000 | 19,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,500 | 16,300 | 16,700 | -300 | 17,300 | 17,700 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,600 | 16,500 | 16,700 | -100 | 16,650 | 17,250 |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | – | – | – | – | – | – | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,800 | 15,700 | 15,900 | – 100 | 16,700 | 17,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,300 | 16,200 | 16,400 | -250 | 16,900 | 17,400 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,500 | 28,400 | 28,600 | -50 | 28,900 | 29,600 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,100 | 0 | 26,250 | 26,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,400 | 25,300 | 25,500 | -200 | 25,900 | 26,250 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,050 | 26,000 | 26,100 | 0 | 26,700 | 26,800 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 26,600 | 26,500 | 26,700 | -400 | 27,000 | 27800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,300 | 27,100 | 27,500 | -450 | 27,750 | 28,750 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 29,000 | 28,900 | 29,100 | 0 | 29,300 | 30,000 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 26,600 | 26,500 | 26,700 | 0 | 26,650 | 27,250 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 25,800 | 25,700 | 25,900 | -200 | 26,200 | 26,550 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 26,550 | 26,500 | 26,600 | -50 | 27,250 | 27,300 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 26,800 | 26,700 | 26,900 | -600 | 27,200 | 28000 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 27,500 | 27,400 | 27,600 | -500 | 28,000 | 29,250 | |
| TMT | Ex-Delhi/NCR | 12MM | 32,100 | 32,000 | 32,200 | -100 | 32,500 | 33,350 |
| Ex-Durgapur | 12MM | 29,500 | 29,400 | 29,600 | 0 | 29,800 | 29,800 | |
| Ex-Raipur | 12MM | 29,400 | 29,300 | 29,500 | – 100 | 30,000 | 29,900 | |
| Ex-Mumbai | 12MM | 30,500 | 30,100 | 30,600 | 0 | 30,700 | 31,400 | |
| Ex-Chennai | 12MM | 31,600 | 31,500 | 31,700 | -400 | 32,000 | 33,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
Leave a Reply