The induction furnace (IF) steel market saw positive trends prevailing on 13 Dec’21, although buyers remained cautious on account of a sharp surge in prices. Steel prices of the mid-sized mills increased by up to INR 2,000/tonne (t) ($27/t), d-o-d.
Semi-finished steel (including sponge iron and billet) offers moved up by INR 400-2,000/t across the country following a sharp rise of INR 2,000/t in Hyderabad’s billet market.
Moreover, re-bar offers increased by INR 200-1,400/t across regions. However, a major increase of INR 1,000-1,400/t was seen in the Rourkela and Raipur markets in eastern and central India.
Raw material
- Jharsuguda based pellet maker offered raw pellets at INR 9,700/t exw.
Semi finished
- Induction grade billet export offers increased to around $560-565/t exw Durgapur, equivalent to $585-590/t CPT Nepal.
- Odisha based sponge supplier offered FeM 79 P-DRI at around INR 28,800/t FoR Raipur.
- Raigarh based steel manufacturers getting pig iron offers from Odisha at INR 37,700/t FoR Raigarh.
- Raipur sponge P-DRI deals reported at around INR 28,500-28,900/t on exw & DAP basis, While, DR CLO grade sponge iron traded at around INR 33,000/t exw.
- Neo Metaliks in Durgapur has increased steel grade pig iron prices to INR 39,000-39,200/t exw.
Wire rod and structure
- Mid scale mills wire rod export offers stood at $610-615/t exw Durgapur, equivalent to $635-640/t CPT Nepal.
- Raigarh based Singhal Steel concluded around 500 t deals of wire rod at INR 45,500/t exw.
- In Heavy structural steel, base price of 150 mm channel is increased by INR 500/t to INR 50,000/t in Raipur with firm trade discount of around INR 1,500/t. Trade reference price of 200 mm angle is at INR 51,300-51,700/t exw.
Click here for re-bar brand wise details
Leave a Reply