Spot trading activity in the Indian secondary steel market remains subdued following volatility in prices which fluctuated in the range of INR 100-500/t d-o-d on 13 Aug’21.
As per SteelMint assessment, semi-finished (including sponge iron and billet) steel prices fluctuated by INR 100-500/t across major markets. A price correction of around INR 100-200/t in semi-finished steel was observed in the eastern, central and western regions.
However, induction furnace route re-bar prices rose by INR 100-200/t in most locations across the country except Raigarh in central India where re-bar prices declined by INR 300/t.
Raw material
- Karnataka based BMM Ispat offered raw pellets at INR 12,700/t exw Bellary.
- Jharsuguda based pellet maker kept offers unchanged for raw pellets at INR 14,000/t exw.
Semi finished
- Induction grade (IF) billet export offers reported at $580-583/t, exw-Durgapur (equivalent to $605-610/t CPT Nepal).
- Neo Metaliks in Durgapur has kept steel grade pig iron offers stable at INR 39,000/t exw.
- Sponge P-DRI prices in Raipur slightly drop to around INR 31,900-32,000/t exw, however deals reported mostly from outside plants at around INR 31,700-31,800/t on FoR Raipur basis.
- Jharsuguda, Odisha based sponge supplier offered FeM 80 P-DRI at around INR 31,700/t FoR Raipur.
- Mahavir Ferro Alloys sold around 500 t sponge iron lumps at INR 32,800-33,000/t exw Rourkela.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 31,200/t exw Bellary (Down by INR 200/t).
Rebar (12 mm)
- GK TMT(Fe 500D) is offering at INR 48,300/t exw Raipur (Up by INR 200/t).
- Shrishtii TMT offers reported at INR 46,000/t exw Raigarh.
- Rathi Stelmax TMT is offering at INR 49,100/t exw Delhi/NCR (Up by INR 350/t).
- Century TMT offers unchanged at INR 46,700/t exw Muzaffarnagar.
- Mono TMT offers stable at INR 50,100/t FoR Ahmedabad.
- Polaad TMT offers stable at INR 49,000/t exw Jalna.
- ARS TMT(Fe 550D) offers stable at INR 52,100/t exw Chennai.
Wire rod and structure
- Mid scale mills wire rod export offers hovering at $625/t exw Durgapur, equivalent to $650-655/t CPT Nepal, via road delivery.
- Trade reference wire rod prices in Raipur fell by INR 200/t to INR 46,200-46,400/t exw, due to increase in trade discounts. Also, assessment prices in Durgapur down by INR 200/t to INR 46,000/t exw.
- Raigarh based Singhal Steel concluded around 1,000 t deals of wire rod at INR 45,800/t exw.
- Odisha, Eastern India based a plant has concluded about 1,000 t IF route wire rod export deal at around INR 46,000/t ($620) exw.
- Heavy structural steel, base price of 150 mm channel stable at INR 48,000/t in Raipur with firm trade discount of INR 800-1,000/t. Trade reference price of 200 mm angle is at INR 49,800-50,200/t exw.
Reference prices as on 13th Aug’21
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