As per market sources, finish long steel market has observed average demand. Trade participants are moving cautiously before making further bookings in specified regions.
Supply for previous pending orders is about to be completed and may take around 7-10 days time & prices are less likely to increase sharply unless inquiries move up further. Major rolling mills have kept their prices unchanged on day basis.
It is to be noted that prices have been strengthening as trade sources had booked enough orders in the past week & due to the mismatch of production & supply, the manufacturers raised prices on daily basis.
Although current situation indicates that average inventories & bookings in most plants won’t stretch the price level so far in near term.
Under Finish long commodities i:e; ERW (Electric Resistance Welded) Pipe surge in line of semi-finish but reported near to average supply movement and current basic offering at INR 47,200/MT ex-Mandi Gobindgarh, North India & INR 44,600/MT ex-Raipur, Central region.
Trade Updates
1. Central region (Raigarh) based Scan Group branding Shrishti TMT having monthly production capacity of 20,000 MT, has unchanged their prices on day basis and currently offer 28mm Rebars at INR 39,700/MT ex-work & excluding GST. As per official opinion market should get stable for near term and don’t have selling pressure amid proper bookings in hands.
2. Jalna based Rebar manufacturer – Rajuri Steel Pvt Ltd has unchanged their prices and offering 28mm Rebars at INR 39,600/MT, ex-work & excluding GST. As per official view trade inquiries slightly slow in comparison with past week and average volume has been registered.
3. Jalna based Kalika Steels producing Rebars about 28,000 to 30,000 MT per month offered 28 mm Rebars at INR 39,400/MT, prices unchanged on day basis, ex-work & excluding GST.
4. Mahalaxmi TMT based in Wardha – Maharashtra also unchanged Rebar prices and the latest offers for the day for 28 mm are reported at INR 39,700/MT ex-plant. According to officials, the current average production of Rebars is about 35,000 MT against the installed capacity of 45,000 MT monthly.
5. Rathi Steels, known as price trend setter for North India has unchanged prices and offered 12mm Rebars at INR 45,800-45,900/MT ex-Delhi. The company largely sells finished steel to North-east regions.
6. East region based – Shakambhari Ispat & Power Ltd has offered Wire rod 5.5 mm at INR 42,000/MT & Rebars 16mm at INR 41,400/MT, prices unchanged on day basis, ex-work & excluding GST.
7. Central India based Raipur Power and Steel Ltd offering Wire Rod 5.5 mm at INR 42,700/MT, Raw pellet – INR 6,100/MT, Silico Manganese at INR 62,000/MT & Sponge P-DRI at INR 20,300/MT, ex-mill & excluding GST.
Leave a Reply