Semi-finished steel prices in the Indian secondary market dropped slightly today on fewer trades. The prices fell by INR 100/t of sponge iron & billet. However, rebar prices fluctuated by INR 100-200/t in the major markets.
Raw Material
- Silicon manganese (60-14) trades reported at INR 59,500-60,000/t exw Raipur.
Semi Finished
- Induction grade billet export offers slightly drop by $2/t to $402-404/t exw Durgapur, equivalent to $425-430/t CPT Nepal, via road delivery.
- Durgapur based Neo Metaliks has reported steel grade pig iron deals at INR 28,000-28,200/t exw.
- Raipur based sponge P-DRI manufacturers have reduced offers by INR 100-200/t at INR 19,300-19,400/t exw, however no major deals reported due to decline in billet prices.
- Visa Steels offered FeM 80 sponge C-DRI (mix material) at INR 19,600/t exw Jajpur
- BMM Ispat has kept offers unaltered for FeM 80 P-DRI lumps at INR 18,400/t exw Bellary & only 1,000 t deals reported in nearby region.
- BIOP Steels in South India has kept offers unchanged for FeM 80 & 82 C-DRI lumps at INR 18,900/t & INR 19,300/t exw
Rebar (12 mm)
- Mono TMT is offering at INR 34,700/t FoR Ahmedabad (Up by INR 200/t)
- BS TMX TMT offers reported at INR 32,400/t exw Raigarh.
- Shree OM TMT unchanged their offer at INR 34,200/t exw Jalna.
Wire Rod & Structure
- Trade discount given by Raipur based heavy structure manufacturers is maintained at INR 1,000-1,300/t, and the current trade price of 200 Angle is stood at INR 36,500-36,900/t exw.
- Trade discount in Raipur wire rod further up by INR 100-200/t to INR 1,100-1,300/t, however base price remains firm at INR 34,300/t exw.
- Mid scale mills wire rod export offers fell by $3/t to $445-447/t exw Durgapur, equivalent to $470-472/t CPT Nepal.
Reference prices as on 8th Oct’20
Leave a Reply