Indian secondary steel market increased further by INR 50-600/t today. As per SteelMint’s assessment sponge iron prices have increased by INR 50-200/t, following which billet prices also moved up by INR 100-600/t in major markets.
In the context to finished steel, the rebar market registered a price rise of INR 100-600/t in all the locations.
Raw Material
- Silicon manganese (60-14) trades reported at INR 59,000-59,500/t exw Raipur.
Semi Finished
- Raipur based sponge P-DRI manufacturers have kept offers firm at INR 19,600-19,700/t, however inquiries remained at less price range of INR 19,400-19,500/t exw.
- Ind Synergy (Raigarh) offered P-DRI at INR 19,200/t & billet at INR 29,900/t exw.
- Visa Steels offered FeM 80 sponge C-DRI (mix material) at INR 19,800-19,900/t exw Jajpur.
- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 20,000/t exw.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 19,300/t exw Bellary.
- BMM Ispat increased offers by INR 200-300/t for FeM 80 P-DRI lumps to INR 19,100/t exw Bellary & around 1,500 t deals reported in nearby region.
Rebar (12 mm)
- Shrishtii TMT offers reported at INR 33,800/t exw Raigarh (Up by INR 300/t).
- Century TMT is offering at INR 34,900/t exw Muzaffarnagar (Up by INR 100/t).
- Mono TMT is offers at INR 35,600/t FoR Ahmedabad (Up by INR 300/t).
- Kalika TMT kept offers at INR 34,900/t exw Jalna (Up by INR 200/t).
- Sangam TMT is offering rebar at INR 33,000/t exw Wardha.
Wire Rod, Pipe & Structure
- Trade discount given by Raipur based heavy structure manufacturers is at INR 700-1,000/t, and the current trade price of 200 Angle stood at INR 36,900-37,300/t exw.
Reference prices as on 13th Oct’20
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