Indian semi finished steel market has turned optimistic as prices have increased upto INR 400/t ($6). Also, finished long steel market was supportive today.
As per the assessment, sponge iron and billet prices have moved up by INR 100-300/t in major locations, where as the few markets registered a slight fluctuation in eastern & southern regions. Also, rebar prices have increased by 100-400/t nationwide, however, prices have sharply gone up by INR 800/t in Muzaffarnagar.
Semi Finished
- Raipur based sponge P-DRI manufacturers have increased offers by INR 200-300/t to INR 26,100-26,200/t exw, however no fresh deals reported due to holiday mood along with wait & watch situation through billet makers.
- Ind Synergy (Raigarh) offered P-DRI at INR 25,600/t & billet at INR 39,300/t exw.
- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 27,000/t & billet at INR 38,700/t exw Badtumkela.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 27,000/t exw Bellary.
- BMM Ispat has kept offers unaltered for FeM 80 P-DRI lumps at INR 27,000/t exw Bellary & around 1,500 t deals reported in nearby region.
Rebar (12 mm)
- GK TMT offer stable at INR 46,600/t exw Raipur.
- BS TMX TMT offers reported at INR 43,700/t exw Raigarh (Up by INR 200/t).
- Century TMT is offering at INR 44,800/t exw Muzaffarnagar.
- Vibrant TMT offer assessed at INR 48,200/t FoR Ahmedabad.
- Polaad TMT is offering at INR 48,900/t exw Jalna (Up by INR 200/t).
Wire Rod and Structure
- Trade discount in Raipur wire rod is reported at INR 800-1,000/t & trade reference price stable at INR 44,200-44,600/t exw Raipur & INR 44,800-45,200/t exw Durgapur, size 5.5 mm.
- Raipur based heavy structure manufacturers, kept stable their base price at INR 44,000/t, and maintained trade discount at INR 700-1,000/t, current trade price of 200 Angle is at INR 45,800-46,200/t exw.
Reference prices as on 1st Jan’21
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