Indian secondary steel market remained supportive today and prices have increased upto INR 1,000/t ($14), d-o-d basis.
As per the assessment, the domestic sponge iron offers have increased by INR 100-500/t in most of the locations. Also, billet prices have risen by INR 100-400/t in many regions except in Mandi Gobindgarh where, offers have marginally fallen by INR 100/t.
In addition to this, rebar market has seen an upward trend across major markets and prices have moved up by INR 100-1,000, whereas, it declined by INR 200-600 in few parts of Northern India.
Semi Finished
- Raipur based sponge P-DRI manufacturers have further raised offers by INR 500/t to INR 29,500/t exw, however few deals reported at around INR 29,300-29,500/t exw.
- Durgapur based Neo Metaliks has reported deals of over 1,200t steel grade pig iron at INR 37,500/t exw.
- Ind Synergy (Raigarh) offered P-DRI at INR 29,500/t FoR Raipur & billet at INR 40,800/t exw Raigarh.
- Jharsuguda, Odisha based sponge supplier offered FeM 80 P-DRI at around INR 29,600/t FoR Raipur.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 27,000/t exw Bellary
Rebar (12 mm)
- Shrishtii TMT offers reported at INR 45,800/t exw Raigarh (Up by INR 200/t).
- Metalics 550D TMT offers reported at INR 47,300/t exw Sambalpur.
- Swarup TMT is offering at INR 45,500/t exw Muzaffarnagar (Down by INR 200/t).
- Mono TMT kept offers stable at INR 47,400/t FoR Ahmedabad.
- Kalika TMT offers unchanged at INR 48,400/t exw Jalna.
Wire Rod and Structure
- Raipur based heavy structure steel manufacturers, increased the base price of 150 mm channel by INR 500/t to INR 46,000/t, and given trade discount at INR 1,000-1,300/t, current trade reference price of 200 mm angle is at INR 47,600-48,000/t exw.
- Trade discount in Raipur wire rod stood at INR 800-900/t & base price was stable to INR 46,000/t exw. Prices in Durgapur have moved up by INR 300/t to INR 44,900-45,200/t exw.
Reference prices as on 1st Apr’21
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