Spot prices in the Indian secondary steel market remain supported, however, trades slowdown today as buyers were cautious to stock material due to slow demand in finished steel.
As per SteelMint’s assessment, domestic sponge iron and billet prices have risen by INR 100-700/t in many regions. In context to the rebar market, prices have surged by INR 100-900/t across major markets with the major price hike of INR 800-900/t was registered in Northern India.
Raw Material
- Karnataka based BMM Ispat offered raw pellets at INR 11,400/t exw Bellary. (Up by INR 400/t).
Semi Finished
- Raipur based sponge P-DRI manufacturers have raised offers by INR 500/t to INR 25,700-26,000/t exw & sufficient deals reported. Supply shortage remains in the spot market.
- Durgapur based Neo Metaliks has again hiked steel grade pig iron price by INR 500/t to INR 34,500/t & few deals reported by officials.
- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered billet at INR 36,700/t exw Badtumkela.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 25,400/t exw Bellary (Up by INR 400/t).
- BMM Ispat offered FeM 80 P-DRI lumps at INR 25,400-25,500/t exw Bellary (Up by INR 300-400/t).
Rebar (12 mm)
- BS TMX offers reported at INR 42,000/t exw Raigarh (Up by INR 500/t).
- Century TMT is offering at INR 42,300/ exw Muzaffarnagar (Up by INR 800/t).
- Vinayak TMT is offering at INR 45,300/t FoR Ahmedabad (Up by INR 500/t).
- Kalika TMT is offers concluded at INR 45,400/t exw Jalna (Up by INR 400/t).
Wire Rod and Structure
- Trade discount in Raipur wire rod increased to INR 800-1,000/t & trade reference price up by INR 200/t to INR 41,000-41,200/t exw. However, prices in Durgapur surge by INR 800/t to INR 41,300-41,500/t exw.
- Heavy structural steel manufacturers at Raipur, increased base price of 150 mm Channel by INR 500/t to INR 42,000/t, and given trade discount by INR 700-1,000/t, current trade reference price of 200 mm Angle is at INR 43,900-44,300/t exw.
Reference prices as on 19th Feb’21
Leave a Reply