Daily Update: Indian Semis Offers Volatile

On daily assessment, the Billet & Rebar prices volatile by INR 100-300/MT, however sponge iron prices slightly fall by INR 100/MT in major markets.

SteelMint's latest price assessment for induction furnaces billet in Indian market stood at INR 30,900-34,500/MT (USD 442-494) ex-plant.

Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 18,700-19,600/MT (USD 267-280); prices are ex-plant & excluding GST.

Rupee & BSE Sensex

-- On 26th April 2019 (Friday) INR to USD exchange rate stood at INR 69.93/-

-- ICEX (Indian Commodity Exchange Ltd) May'19 contract for STEELLONG today open at INR 33,720/MT & last traded (IST 18:31) at INR 33,570/MT.

-- BSE Sensex closed at 39,067(+336) on Friday, last as against day (Thursday) at 38,730(-323).

-- NSE Nifty50 index was closed today at 11,754(+112).

Raw materials

-- NMDC Ltd, India's biggest iron ore producer, has announced to roll over in it's iron ore prices for May deliveries.

-- Silicon Manganese(60-14) prices in Central India, Raipur stood at INR 66,500-67,000/MT ex-plant.

Semi finished

-- SAIL has offered basic grade (steel grade) pig iron from its Bhilai Steel Plant (BSP) based in Central India at INR 27,600-27,800/MT ex-plant.

-- Neo Metaliks in Durgapur has reduced prices of steel grade pig iron & reported at INR 28,800-29,000/MT ex-plant.

-- Indian's Sponge iron export offers more or less firm and hovering at USD 335/MT CNF Chittagong, Bangladesh.

-- Indian export offers of mid sized mills Billet & Wire rod unaltered day-on-day and evaluated at USD 445/MT for Billet & USD 515-525/MT for Wire rod, ex-mill at Durgapur.

-- As per sources, Rashmi Metaliks in Durgapur has rolled-over sponge prices to INR 18,300/MT (ex-plant) for P-DRI.

-- Integrated plants in Raipur have maintained sponge prices despite no major deals and reported P-DRI at INR 18,600-18,800/MT ex-plant.

Wire rod & Pipe

-- Trade discounts in Raipur Wire rod is hovering at INR 1,000-1,100/MT and basic prices unaltered at INR 37,900/MT ex-plant. Meanwhile it fell by INR 100/MT in Durgapur and reported at INR 36,600-37,300/MT ex-plant.

-- Adhunik Metaliks- one of the renowned mill in Durgapur reported offers for HB wire at INR 39,500/MT ex-plant and no stock for Wire rod as priority to complete dispatches of earlier orders.

-- Hyderabad (South India) based manufacturer Mahalakshmi Profiles Pvt. Ltd (MPL) has roll-over ERW Pipe prices and reported at INR 39,300/MT ex-plant. (basic & excluding GST).

Rebar (12mm)

-- North region, U.P based – Gallant Ispat Ltd. is current offering at INR 38,400/MT.

-- Raipur based - SPEED TMT has unchanged their offers at INR 35,800/MT.

-- Real Ispat (GK TMT) has unchanged their offers at INR 37,800/MT.

-- Gujarat based Shreeyam Power & Steel Industries Ltd. (National TMT) is current offering at INR 38,500/MT FoR (down by INR 200/MT).

-- Jalna based Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is current offering at INR 37,300/MT.

-- Jalna based SRJ Peety Steels Pvt Ltd (Shree Om) is current offering at INR 37,200/MT.

-- Mumbai based Guardian Castings Pvt. Ltd. (Guardian TMT) has unchanged their offers at INR 37,200/MT.

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