Indian steel prices were volatile today with limited spot transactions. As per SteelMint’s daily assessment, sponge prices further dropped by INR 50-200/t in most of the regions. Also, billet prices fell by INR 100-400/t in major markets.
In addition to it, rebar prices have declined by INR 100-200/t across many locations however the prices remained strong by INR 100-200/t in central & southern market.
Raw Material
- Silico Manganese (60-14) offers in Raipur is hovering at INR 61,500/t exw through the manufacturers, however by traders it was offering at INR 61,000/t exw.
Semi Finished
- Induction grade billet export offers dropped by $2/t to around $408-410/t exw Durgapur, equivalent to $435/t CPT Nepal, via road delivery.
- Raipur based major sponge manufacturers have kept P-DRI offers firm INR 20,000-20,100/t, however inquiries remained at less price of around INR 19,800/t, exw.
- Neo Metaliks has kept steel grade pig iron prices firm at INR 29,000/t exw Durgapur, however no fresh deals reported.
Rebar (12 mm)
- GK TMT has kept offers stable at INR 35,300/t exw Raipur.
- Rathi Stelmax TMT unaltered offers at INR 36,100/t exw Delhi/NCR.
- Mono TMT unchanged offers at INR 35,900/t FoR Ahmedabad.
- Kalika TMT is offering at INR 34,100/t exw Jalna (Down by INR 200/t).
- Sangam TMT is offering at INR 33,500/t exw Wardha.
Wire Rod, Pipe & Structure
- Mid scale mills wire rod export offers stable on day trades and assessed at $450-452/t exw Durgapur, equivalent to $475-478/t CPT Nepal.
- Trade discount in Raipur wire rod unchanged at INR 1,300-1,400/t along with base price at INR 34,300/t exw. Also, in Durgapur trade reference prices firm at INR 33,200-33,500/t exw.
- Blast furnace grade wire rod (SAE 1010) offers in Durgapur assessed at INR 38,000-39,000/t exw.
- Trade discount given by Raipur based heavy structure manufacturers is at INR 800-1,200/t and trade price of 200 Angle is at INR 36,800-37,200/t exw.
Reference prices as on 10th Sep’20
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