Indian spot steel trades of semi-finished & finished long steel remained dull and prices have fluctuated by INR 100-500/t (upto $7) today.
According to SteelMint’s assessment, sponge iron & rebar prices have dropped by INR 100-300/t in major locations. Also, billet prices have fallen by INR 100-500/t in the southern region, however prices gained later on and moved up by INR 100-200/t in major markets of central, east & northern India.
Semi Finished
- Induction grade billet export offers hovering at $515/t exw Durgapur, equivalent to $540/t CPT Nepal, via road delivery.
- Sponge P-DRI prices remain unchanged in Raipur & few deals reported at INR 26,000/t exw.
- Visa Steels kept offers unchanged for steel grade pig iron at INR 34,500/t exw Jajpur.
- Hare Krishna has offered FeM 79-80 P-DRI at INR 26,600-26,800/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. However no deals reported from officials.
Rebar (12 mm)
- GK TMT unchanged offers at INR 45,000/t exw Raipur.
- Shrishtii TMT offers reported at INR 42,000/t exw Raigarh (Down by INR 300/t).
- Century TMT is offering at INR 41,800/t exw Muzaffarnagar.
- Diamond TMT offer assessed at INR 47,000/t FoR Ahmedabad.
- Kalika TMT kept offers stable at INR 46,500/t exw Jalna.
Wire Rod and Structure
- Mid scale mills wire rod export offers unchanged $600/t exw Durgapur, equivalent to $625/t CPT Nepal.
- Trade discounts in Raipur wire rod drop by INR 200/t to INR 800-1,000/t, however base offer remains stable at INR 44,000/t exw Raipur & INR 43,500-44,000/t exw Durgapur.
- Raipur based heavy structure manufacturers, kept stable their base price at INR 43,000/t, and maintained trade discount at INR 700-1,000/t, current trade price of 200 Angle is at INR 44,800-45,200/t exw.
Reference prices as on 23rd Dec’20
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