Indian spot trades of semi-finished & finished long steel products remained subdued & the prices have recorded a fluctuation of INR 100-400/t across major markets today.
As per the assessment, sponge iron prices have fluctuated by INR 50-100/t & rebar, billet prices volatile by INR 100-400/t in major locations, however in Goa billet prices have increased by INR 800/t, d-o-d.
The industry participants in central & eastern India reported slight fall in inquiries as buyers feel risks to place major orders at prevailing offers amidst less clarity on global price trends.
Raw Material
- BMM Ispat sold around 10,000 t pellets in nearby market at INR 12,000/t exw Bellary in the last 2 days.
Semi Finished
- Induction grade billet export offers stood at $555-560/t exw Durgapur, equivalent to $580-585/t CPT Nepal, via road delivery.
- Raipur based sponge manufacturers have kept P-DRI offers stable at INR 26,600-800/t, however few bids reported at around INR 26,500/t exw.
- Monnet Ispat has offered sponge DR-CLO grade at INR 28,500/t exw Raipur.
- Neo Metaliks in Durgapur has maintained steel grade pig iron price firm at INR 36,200-300/t exw.
- Visa Steels concluded deals of around 500 t steel grade pig iron in local region at INR 35,600/t exw Jajpur.
- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 27,300/t exw Badtumkela.
- Raigarh based Singhal Steel offered P-DRI at INR 26,200/t & Billet at INR 40,400/t exw.
- 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 27,200/t exw Bellary. (Up by INR 200/t).
- BMM Ispat has concluded deals of around 5,000 t FeM 80 P-DRI lumps at INR 27,000-27,100/t exw Bellary.
Rebar (12 mm)
- GK TMT is offering at INR 48,000/t exw Raipur (Up by INR 400/t).
- BS TMX TMT offers reported at INR 44,700/t exw Raigarh (Up by INR 300/t).
- Mono TMT offer stable at INR 49,150/t FoR Ahmedabad
- Kalika TMT is offering at INR 49,400/t exw Jalna (Up by INR 200/t)
Wire Rod and Structure
- Trade discounts in Raipur wire rod is at INR 500-700/t and base offers moved up by INR 200/t to INR 47,000/t exw. However, in Durgapur base prices are stable at INR 47,000/t exw.
- Mid scale mills wire rod export offers hovering at $650/t exw Durgapur, equivalent to $675/t CPT Nepal.
- Raipur based heavy structure manufacturers, increase the base price by INR 500/t to INR 45,500/t, and given trade discount by INR 800-1,100/t, current trade price of 200 Angle is stood at INR 47,400-47,800/t exw.
Reference prices as on 5th Jan’21
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