Spot trades in Indian secondary steel market were dull today and prices have dropped upto INR 600/t ($9) d-o-d basis.
As per the assessment, the domestic sponge iron pirces decreased by INR 100-400/t across nation with a major fall of INR 300-400/t was seen in Rourkela and Raigarh region.
And billet offers have declined by INR 100-600/t in most of the locations. Similarly, rebar market has noticed weak trade activities and prices have fallen by INR 100-300/t in across major locations.
Semi Finished
- Raipur based sponge P-DRI manufacturers have kept offers firm at INR 30,300-30,500/t exw, however limited deals reported at INR 30,000-30,200/t exw.
- Neo Metaliks in Durgapur has maintained steel grade pig iron price firm at INR 39,000/t exw.
- Ind Synergy (Raigarh) offered P-DRI at INR 28,900/t & billet at INR 40,700-40,800/t exw.
- Jharsuguda, Odisha based sponge supplier offered FeM 80 P-DRI at around INR 30,000-30,100/t FoR Raipur.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 28,000/t exw Bellary.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 28,500/t exw Bellary
Rebar (12 mm)
- GK TMT offer stable at INR 48,100/t exw Raipur.
- Shrishtii TMT offers reported at INR 45,800/t exw Raigarh (Down by INR 200/t).
- Swarup TMT offers reported at INR 46,000/t exw Muzaffarnagar (Down by INR 500/t).
- Vibrant TMT offer reported at INR 48,200/t FoR Ahmedabad.
- Shree OM TMT offer unchanged at INR 48,800/t exw Jalna.
Wire Rod and Structure
- Trade discount in Raipur wire rod increased by INR 800/t to INR 1,700-1,800/t and base price unchanged at INR 46,500/t exw. Prices in Durgapur have dropped by INR 300/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 maintained trade discount at INR 1,200-1,500/t, current trade reference price of 200 mm angle is at INR 47,500-47,900/t exw.
Reference prices as on 7th Apr’21
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