Spot trading activity in the Indian secondary steel market was active on 16 Jul’21. However, prices moved southwards in major locations, plunging by INR 100-400/tonne (t) ($8), d-o-d.
Demand at lower prices remain active, SteelMint notes.
As per SteelMint assessment, Indian sponge iron offers fluctuated in the range of INR 100-200/t in many locations. However, domestic billet prices declined by INR 100-400/t in major locations; in the central region prices stood firm and markets in the western region witnessed gains by INR 100-200/t.
Induction furnace grade rebar prices decreased by INR 100-500/t across major markets; meanwhile, regions like Raigarh witnessed an increase in prices by INR 100/t.
Raw Material
- Jharsuguda based pellet maker offering raw pellets to local region at INR 14,800/t exw
- Karnataka based BMM Ispat offered raw t pellets at INR 12,500/t exw Bellary (Down by INR 500/t).
- Singhal Steel, Raigarh based manufacturer has offered 60-14 silico manganese at INR 94,500-95,000/t exw.
Semi Finished
- Induction grade billet export offers hovering at $550/t exw Durgapur (equivalent to $575-580/t CPT Nepal), via road delivery.
- Sponge P-DRI prices in Raipur up by INR 100/t & deals reported at INR 28,900-29,100/t on exw & FoR basis.
- Durgapur based Neo Metaliks has kept steel grade pig iron offers firm at INR 37,200/t exw.
- Jharsuguda, Odisha based sponge supplier sold around 1,200 t FeM 80 P-DRI at around INR 28,900-29,000/t exw.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 28,500/t exw Bellary
Rebar (12 mm)
- Metalics 550D TMT offers reported at INR 44,700/t exw Sambalpur.
- Shrishtii TMT offers reported at INR 43,200/t exw Raigarh (Up by INR 200/t).
- Mono TMT is offering at INR 47,300/t FoR Ahmedabad (Up by INR 100/t).
- Kalika TMT is offering at INR 46,400/t exw Jalna (Down by INR 200/t).
- VRKP TMT offer reported at INR 46,300/t exw Bangalore.
Wire rod and structure
- Heavy structural steel, base price of 150 mm channel increase by INR 300/t to INR 45,500/t in Raipur with firm trade discount at INR 500-800/t. Trade reference price of 200 mm angle is at INR 47,400-47,800/t exw.
- Mid scale mills wire rod export offers stand firm at $590-595/t exw Durgapur, equivalent to $620/t CPT Nepal, via road delivery.
- Raigarh based Singhal Steel concluded around 1,000 t deals of wire rod at INR 44,250/t exw.
- Jharsuguda, Odisha based wire rod supplier concluded around 1,200 t deals at INR 44,500/t exw.
- Trade reference wire rod prices in Raipur up by INR 400/t to INR 45,100-45,300/t exw, on increase in base price as well drop in trade discounts. However, assessment prices in Durgapur were stable at INR 43,800-44,000/t exw.
Reference prices as on 16th Jul’21
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