Manufacturers in south India raise their offers for fresh deals following the price rise trend in central & east India
The manufacturers in south region raised their offers by INR 300-500/MT since yesterday, after increase in offers in central & east India by INR 600-1,200/MT in the last couple of days. Central & east markets are considered as competitors for south India.
The manufacturers in south India reported that inventory level is going down because of less production output and bulk purchase by west India based smelters.
In a week’s time, offers in central & east India (Raipur, Durgapur & Rourkela) were up by INR 600-1,200/MT & INR 1,200-1,400/MT M-o-M. While in south (Bellary & Hyderabd), it raised by INR 700-900/MT W-o-W & INR 1,500-1,700/MT M-o-M.
Plant-wise offers
1. BMM Ispat has kept its sales closed. The plant’s last offers for 80 FeM P-DRI was heard at INR 13,500-13,600/MT ex-works, Karnataka. An official from the company indicated that the fresh offers will be declared with price rise by INR 300-500/MT in the coming days.
2. Today, Sunvik Steels in Karnataka has increased offers by INR 500/MT. Present offers for 80 FeM C-DRI lumps are evaluated at INR 14,600/MT and for 82 FeM C-DRI at INR 15,000/MT ex-plant (Freight & taxes extra).
3. Jairaj steel increased offers yesterday by INR 300/MT to INR 14,000/MT for 80 FeM C-DRI. It is anticipated that the plant may further increase offers as the offers are cheaper than the trade price by the other manufacturers in same place.
4. Rayen Steels Pvt Ltd sold 80 FeM C-DRI to Maharashtra at INR 14,200/MT ex works. Frieght to Jalna is at INR 1,000/MT and Mumbai at INR 1,600/MT.
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