Indian secondary steel market continued to have an upward trend today as well and prices have surged upto INR 800/t ($11), d-o-d basis.
As per SteelMint’s assessment, the domestic sponge iron and billet prices have moved up by INR 200-800/t in all the locations with the major price hike of INR 800-900/t was registered in Southern India. Also, rebar market was supportive across major markets and prices have increased by INR 100-700.
Semi Finished
- Raipur based sponge P-DRI manufacturers have further raised offers by INR 800/t to INR 30,300/t exw, however few deals reported at around INR 29,800-30,000/t exw.
- Durgapur based Neo Metaliks has reported deals of over 1,000 t steel grade pig iron at INR 38,000/t exw.
- Jharsuguda, Odisha based sponge supplier offered FeM 80 P-DRI at around INR 30,200/t FoR Raipur.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 27,900/t exw Bellary (Up by INR 900/t).
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 28,500/t exw Bellary (Up by INR 700/t).
Rebar (12 mm)
- GK TMT kept offers stable at INR 47,800/t exw Raipur.
- Shrishtii TMT offers reported at INR 45,900/t exw Raigarh (Up by INR 200/t).
- Metalics 550D TMT offers reported at INR 48,000/t exw Sambalpur (Up by INR 700/t).
- Century TMT offers reported at INR 45,700/t exw Muzaffarnagar (Up by INR 200/t).
- Vibrant TMT is offering at INR 47,450/t FoR Ahmedabad (Up by INR 100/t).
- Polaad TMT is offering at INR 48,800/t exw Jalna (Up by INR 300/t).
Wire Rod and Structure
- Trade discount in Raipur wire rod increased by INR 400-500/t to INR 1,200-1,300/t and base price moved up by INR 500/t to INR 46,500/t exw. Also, prices in Durgapur have surged by INR 700/t to INR 45,700-46,000/t exw.
- Raipur based heavy structure steel manufacturers, kept stable the base price of 150 mm channel at INR 46,000/t, and given trade discount at INR 1,000-1,300/t, current trade reference price of 200 mm angle is at INR 47,600-48,000/t exw.
Reference prices as on 2nd Apr’21
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