Indian secondary steel market has noticed a continued fall in price range on account of limited inquiries due to festive mood. As per SteelMint’s assessment, sponge iron prices have seen a fall of INR 100-350/t & billet prices have fallen by INR 50-500/t. Also, rebar prices have come down by INR 100-500/t in many regions.
The participants in the central India reported, no fresh deals for outside markets owing to logistic concern as major transporters are denying for outside deliveries owing to festive off in coming days, which is affecting their sales and fresh offers.
Semi Finished
- Induction grade billet export offers hovering at $425/t exw Durgapur, equivalent to $450/t CPT Nepal, via road delivery.
- Indian sponge iron export offers drop by $5/t to $325/t CPT Benapole, equivalent to $340/t CFR Chittagong, Bangladesh. The prices slump due to fall in domestic offers by INR 300-400/t, d-o-d.
- Raipur based sponge producers have reduced P-DRI offers by INR 300/t to INR 22,200-22,300/t exw & few deals learned from local & Raigarh based suppliers.
- Ind Synergy (Raigarh) offered P-DRI at INR 21,500/t & billet at INR 31,500/t exw.
- Neo Metaliks in Durgapur has reduced steel grade pig iron price by INR 200-300/t to INR 30,300/t exw, however demand remains limited due to festive mood along with fall in billet prices.
- Visa Steels offered FeM 80 sponge C-DRI (mix material) at INR 20,000/t exw Jajpur.
- Hare Krishna has offered FeM 79-80 P-DRI at INR 22,000/t exw Bellary.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 22,200-22,300/t exw Bellary.
- BMM Ispat has kept offers unaltered for FeM 80 P-DRI lumps at INR 22,000/t exw Bellary.
Rebar (12 mm)
- GK TMT is offering at INR 37,000/t exw Raipur.
- Shrishtii TMT offers reported at INR 34,700/t exw Raigarh (Down by INR 200/t).
- Rathi Stelmax TMT kept offers stable at INR 38,100/t exw Delhi/NCR.
- Vibrant TMT offers reported at INR 38,900/t FoR Ahmedabad.
- Polaad TMT unchanged its offers at INR 37,700/t exw Jalna.
- Bajrangbali Re-rollers is offering rebar at INR 35,200/t exw Rourkela.
- Odisha based Scan TMT offers reported at INR 35,000/t exw Rajgangpur.
Wire Rod & Structure
- Mid scale mills wire rod export offers fell by $5/t to $480-485/t exw Durgapur, equivalent to $510/t CPT Nepal.
- Trade discounts in Raipur wire rod stable at INR 1,000-1,200/t, although base price dropped by INR 500/t to INR 35,800/t exw. Also, Durgapur offers dropped by INR 200/t to INR 35,600-36,200/t exw.
- Raipur based heavy structure manufacturers, reduce the base price by INR 300/t and maintained trade discount at INR 800-1,100/t, current trade price of 200 Angle stood at INR 38,700-39,100/t exw.
Reference prices as on 10th Nov’20
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