Spot steel prices fell further in central, eastern & northern India by INR 100-800/t. However offers inched up slightly by INR 100-300/t in southern & western India due to shortage & rising prices of scrap globally along with active demand of finished products.
As per the assessment, sponge iron prices declined by INR 100-300/t, while billet and rebar prices have dropped by INR 100-800/t (d-o-d) in major locations. However prices moved up by INR 100-300/t in Mumbai, Bangalore and Chennai.
The reason behind today’s price fall in major locations cited, were rumors on requests for imposition of export duty by Indian government on iron ore lump & pellets.
Raw Material
- Karnataka based BMM Ispat offered raw pellets at INR 12,000-12,100/t exw Bellary.
- Bellary based sponge manufacturer booked 10,000 t Rb2 coal at INR 6,100/t from Ex-Mangalore.
- Singhal Steel, Raigarh based manufacturer has offered 60-14 silico manganese at INR 69,000/t exw.
Semi Finished
- Sponge P-DRI prices unchanged in Raipur & few trades learned at INR 26,000/t exw.
- Visa Steels offering steel grade pig iron at INR 34,500/t exw Jajpur (Up by INR 300/t).
- Odisha based manufacturer, Ganesh Metaliks concluded an export deal of around 2,500 t billet to Nepal at INR 38,000/t exw (advance payment).
- Raigarh based Singhal Steel offered P-DRI at INR 25,300/t & Billet at INR 37,800/t exw.
- Shri Jagannath Steel & Power Ltd offered billet at INR 37,600/t exw Keonjhar.
- Hare Krishna has offered FeM 79-80 P-DRI at INR 26,800/t exw Bellary.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 27,000/t exw Bellary.
- BMM Ispat has kept offers unaltered for FeM 80 P-DRI lumps at INR 27,000/t exw Bellary
Rebar (12 mm)
- GK TMT offers stable at INR 45,000/t exw Raipur.
- Shrishtii TMT offers reported at INR 42,300/t exw Raigarh (Down by INR 600/t).
- Odisha based Scan TMT offers reported at INR 43,000/t exw Rajgangpur.
- Century TMT is offering at INR 41,800/t exw Muzaffarnagar (Down by 200/t).
- Vinayak TMT offer assessed at INR 46,900/t FoR Ahmedabad.
- Polaad TMT unchanged their offer at INR 46,500/t exw Jalna.
Wire Rod and Structure
- Mid scale mills wire rod export offers hovering at $600/t exw Durgapur, equivalent to $625/t CPT Nepal.
- Trade discounts in Raipur wire rod increased by INR 200/t to INR 1,000-1,200/t & base offer remains stable at INR 44,000/t exw. However, prices in Durgapur remained strong & stood at INR 43,500-44,000/t exw.
- Raipur based heavy structure manufacturers, kept stable their base price at INR 43,000/t, and given trade discount by INR 700-1,000/t, current trade price of 200 Angle is at INR 44,900-45,300/t exw.
Reference prices as on 22nd Dec’20
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