Indian secondary steel market has observed average inquiries as billet trades improved slightly in the central region, however demand remained less in the majority of markets. Hence there was a price fluctuation of INR 100-300/t in rebars & billets across regions.
Sponge iron prices remained under pressure and dropped by INR 100-200/t due to limited spot trades and inquiries below the floated offers.
Raw Material
- Silicon manganese (60-14) offers in Raipur assessed at INR 59,500/t exw. The manufacturers are expecting roll-over in MOIL prices for coming month.
Semi Finished
- Induction grade billet export offers stable at $383-385/t exw Durgapur, equivalent to $410/t CPT Nepal, via road delivery.
- Karnataka based steel manufacturer concluded billet export deal of around 2,500 t to Columbo at $414/t FoB, Size – 130×130 mm, 3sp.
- Raipur based sponge manufacturers have kept P-DRI offers firm at INR 18,500-18,600/t exw, while buying interest from the furnaces reported near to INR 18,300/t, thus no major fresh deals, as stated by participants.
- Monnet Ispat has kept sponge P-DRI offers unchanged at INR 18,500/t exw Raipur.
- Ind Synergy (Raigarh) offered P-DRI at INR 17,800/t & billet at INR 28,500/t exw.
- Jharkhand Ispat has reduced sponge P-DRI offers by INR 300/t to INR 18,200/t exw Giridih.
- Visa Steels offered FeM 80 sponge C-DRI (mix material) at INR 18,600/t exw Jajpur (Down by INR 400/t).
- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 18,800/t & billet at INR 28,500/t exw.
- Hare Krishna has offered FeM 79-80 P-DRI at INR 17,500t exw Bellary (Down by INR 200/t).
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 18,000/t exw Bellary.
- BMM Ispat has kept offers unaltered for FeM 80 P-DRI lumps at INR 17,400-17,600/t exw Bellary & around 4,000 t deals reported in nearby region.
Rebar (12 mm)
- GK TMT offers stable at INR 34,500/t exw Raipur.
- Shrishtii TMT offers reported at INR 32,700/t exw Raigarh (Up by INR 200/t).
- Rathi Stelmax TMT kept offers unaltered at INR 34,900/t exw Delhi/NCR.
- Swarup TMT unchanged their offers at INR 33,500/t exw Muzaffarnagar.
- Mono TMT is offering at INR 33,900/t FoR Ahmedabad (Down by INR 400/t).
- Gajkesari TMT offers stable at INR 33,000/t exw Jalna.
- Sangam TMT is offering at INR 32,800/t exw Wardha.
- A one Gold TMT offers unchanged & reported at INR 35,600/t exw Bellary.
Wire Ror, Pipe & Structure
- Mid scale mills wire rod export offers hovering at $430/t exw Durgapur, equivalent to $455/t CPT Nepal.
- Trade discounts in Raipur wire rod stable at INR 1,000-1,200/t along with steady base price at INR 33,400/t exw. However, in Durgapur trade reference price fell by INR 100/t to INR 31,500-32,000/t exw.
- Trade discount given by Raipur based heavy structure manufacturers is at INR 900 -1,300/t and the current trade price of 200 Angle stood at INR 35,700-36,100/t exw.
Reference prices as on 30th Sep’20 
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