The Indian induction furnace (IF) steel market witnessed mixed sentiments on 19 Oct’21 as steel prices of the mid-sized mills fluctuated in the range of INR 50-1,000/tonne (t) across the country, d-o-d.
As per SteelMint assessment, semi-finished steel (including sponge iron and billet) prices remained volatile in the range of INR 50-1,000/t at all locations. However, a sharp fall of INR 1,000/t was noticed in Hyderabad’s billet market.
In addition, rebar prices fluctuated by INR 100-600/t across the country, whereas markets in north and east of the country saw prices increasing by INR 100-200/t.
Semi finished
- Indian IF route billet export offers hover at $650/t exw Durgapur, equivalent to $675-680/t CPT Nepal, via road delivery.
- Sponge P-DRI offers in Raipur stand at INR 35,300-35,500/t, however a few buying inquires reported at around INR 35,000/t exw.
- Jharkhand based sellers concluded around 1,500 t sponge PDRI deal at INR 34,100-34,300/t on exw Ramgarh basis for local regions.
- Western India based a major pig iron producer has floated about 10,000 t steel grade pig iron tender for domestic buyers but haven’t settled due to bid-offer disparity. Also, the company has floated a rake basic grade pig iron tender for northern region buyers but couldn’t fetch response on reserve price of around INR 41,700/t exw.
Wire rod and structure
- Mid scale mills wire rod export offers increased to around $720/t exw Durgapur, equivalent to $750-755/t CPT Nepal.
- Trade reference wire rod prices in Raipur dropped by INR 500/t to INR 52,500-53,000/t exw, due to increase in trade discounts. However, prices in Durgapur stable at INR 53,000-53,500/t exw.
- In Heavy structural steel, base price of 150 mm channel offer stable at INR 55,200/t in Raipur with firm trade discount of around INR 1,000/t. Trade reference price of 200 mm angle is at INR 57,100-57,500/t exw.
Click here for re-bar brand wise details
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