The Indian secondary steel market remained subdued, while muted trading activity was observed on 14 Jun’21. Prices declined by up to INR 700/t ($10), day-on-day.
According to SteelMint assessment, semi-finished steel (sponge iron and billet) prices fell by INR 100-700/t across markets, witnessing a major fall of INR 700/t in Mandi, Ramgarh and Hyderabad.
Meanwhile, induction furnace grade rebar offers decreased by INR 100-700/t in many regions even as markets in the southern region (Bangalore) witnessed a marginal hike in prices to the tune of INR 300/t.
Semi finished
- Bhaskar Steel and Ferro Alloy Ltd has offered billet at INR 42,200/t exw Badtumkela (Down by INR 500/t).
- Ind Synergy offered P-DRI at INR 30,000/t & billet at INR 42,100/t exw Raigarh.
- Raigarh based Singhal Steel offered billet at INR 42,000/t exw.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 29,500/t exw Bellary (Down by INR 300/t).
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 30,100-30,200/t exw Bellary.
Rebar (12 mm)
- GK TMT offer stable at INR 49,000/t exw Raipur.
- Shrishtii TMT offers reported at INR 46,600/t exw Raigarh (Down by INR 700/t).
- Rathi Stelmax TMT is offering at INR 49,750/t exw Delhi/NCR (Down by INR 750/t).
- Swarup TMT offers reported at INR 48,600/t exw Muzaffarnagar (Down by INR 600/t).
- Mono TMT is offering at INR 49,700/t FoR Ahmedabad (Down by INR 200/t).
- Polaad TMT offer stable at INR 48,700/t exw Jalna.
- ARS TMT(Fe 550 D) offer reported at INR 55,800/t exw Chennai.
Wire rod and structure
- Trade discounts for wire rod in Raipur stands at INR 1,000/t & base offers down by INR 500/t to INR 45,500/t exw. Also, prices in Durgapur dropped by INR 500/t to INR 46,200/t exw.
- Raipur based heavy structure steel manufacturers, reduce the base price of 150 mm channel by INR 300/t to INR 47,200/t and given trade discount by INR 400-600/t. Trade reference prices of 200 mm angle are at INR 49,500-49,800/t exw.
Reference prices as on 14th June’21
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