The Indian induction furnace (IF) steel market witnessed mixed trends on 18 Nov’21. As per SteelMint assessment, steel prices of the mid-sized mills fluctuated in the range of INR 50-500/tonne (t), d-o-d.
Semi-finished steel (including sponge iron and billet) offers remained volatile and prices fluctuated by INR 50-500/t across many regions across the country.
On the other hand, rebar (Fe 500) prices increased by INR 200-500/t across locations in the country, although a slight correction of INR 200-300/t was observed in the Delhi/NCR region and Bengaluru.
Raw material
- Jharsuguda based pellet maker offered raw pellets at INR 10,800/t exw
Semi finished
- Raipur sponge P-DRI offers reported at around INR 29,500/t exw, however a few bids reported lessened by INR 300-500/t as against floated offers.
- Odisha based sponge supplier offered FeM 79 P-DRI at around INR 29,400-29,500/t FoR Raipur, however no deals reported from participants.
- Durgapur based Neo Metaliks has reported steel grade pig iron deals at INR 41,500/t exw.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 29,500/t exw Bellary.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 30,500/t exw Bellary.
Wire rod and structure
- Trade reference wire rod prices in Raipur dropped by INR 400/t to INR 45,500-45,800/t exw, however discount were in the range of INR 1,800-2,200/t.
- West Bengal situated mill concluded around 500 t of wire rod at INR 45,500/t exw Durgapur.
- In Heavy structural steel, base price of 150 mm channel is inclined by INR 500/t to INR 50,500/t in Raipur with firm trade discount of around 1,500 INR /t. Trade reference price of 200 mm angle is at INR 52,300-52,700/t exw.
Click here for re-bar brand wise details
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