The Indian secondary steel market has noticed a sharp hike in prices of around INR 100-950/t today, billet prices have shooted up by INR 400-950/t & sponge iron prices have gained by INR 100-750/t. Also, rebar prices rallied by INR 100-700/t in major markets.
Trades remain active & sufficient deals have been reported by industry sources & the producers based in central India.
Raw Material
- BMM Ispat sold around 5,000 t pellets in nearby market at INR 9,200/t exw Bellary.
Semi Finished
- Raipur based sponge P-DRI manufacturers have increased offers by INR 200-300/t at INR 22,200-22,300/t exw.
- Ind Synergy (Raigarh) offered billet at INR 31,900/t exw.
- Rashmi Metaliks has increased sponge P-DRI offers by INR 600/t to INR 22,100/t FoR Durgapur, as per participants.
- Durgapur based Neo Metaliks has reported steel grade pig iron deals at INR 29,800/t exw.
- Visa Steels concluded deals of around 800 t steel grade pig iron to Durgapur at INR 28,500/t exw Jajpur.
- Bhaskar Steel and Ferro Alloy Ltd offered FeM 80 C-DRI lumps at INR 22,200/t & billet at INR 31,400-31,500/t exw Badtumkela (Odisha).
- BMM Ispat increased offers by INR 200/t for FeM 80 P-DRI lumps to INR 21,200/t exw Bellary & around 5,000 t deals reported in nearby region.
Rebar (12 mm)
- Jalna based Polaad TMT sold more than 4,000 t of rebar & offering price reported at INR 36,500/t exw (Up by INR 200/t).
- GK TMT offers reported at INR 37,000/t exw Raipur.
- BS TMX TMT offers reported at INR 34,500/t exw Raigarh (Up by INR 400/t).
- Century TMT is offering at INR 35,800/t exw Muzaffarnagar. (Up by 400/t).
- Diamond TMT is offering at INR 39,300/t FoR Ahmedabad (Up by INR 400/t).
Pipe & Structure
- Hari Om Pipe Industries Ltd has offered ERW Pipe at INR 43,000/t exw Hyderabad.
- Trade discount given by Raipur based heavy structure manufacturer is at INR 600-900/t, current trade price of 200 Angle stood at INR 38,300-38,700/t exw.
Reference prices as on 2nd Nov’20
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