Spot trading activity in the Indian secondary steel market remained supported on 16 Aug’21 with firming up of sponge iron prices. Overall, prices of semis and finished steel products moved up to INR 600/t ($8), d-o-d.
As per SteelMint assessment, semi-finished (including sponge iron and billet) steel prices rose by INR 100-500/t following a major increase of INR 500/t observed in Mumbai’s billet market.
Induction furnace route re-bar prices increased by INR 100-600/t in most locations, with a major hike of INR 500-600/t witnessed in the western and southern regions. However, re-bar prices in Bangalore fell by INR 200/t compared to other markets in the country.
Raw material
- Karnataka based BMM Ispat offered raw t pellets at INR 12,600/t exw Bellary
Semi finished
- Induction grade (IF) billet export offers increased by $5/t around $590/t, exw-Durgapur (equivalent to $615-620/t CPT Nepal).
- Neo Metaliks in Durgapur has raised steel grade pig iron offers by INR 500/t to INR 39,500/t exw.
- Sponge P-DRI prices in Raipur slightly up by INR 100/t to INR 31,800-32,000/t & deals reported on exw & FoR Raipur basis.
- Jharsuguda, Odisha based sponge supplier offered FeM 80 P-DRI at around INR 31,900/t FoR Raipur.
- Mahavir Ferro Alloys sold around 500 t sponge iron lumps at INR 33,500/t exw Rourkela.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 31,300/t exw Bellary (Up by INR 200/t).
Rebar (12 mm)
- GOEL TMT(Fe 500D) is offering at INR 48,600/t exw Raipur (Up by INR 200/t).
- Shrishtii TMT offers reported at INR 46,200/t exw Raigarh (Up by INR 200/t).
- Rathi Stelmax TMT offers stable at INR 49,250/t exw Delhi/NCR.
- Century TMT is offering at INR 47,200/t exw Muzaffarnagar (Up by INR 200/t).
- Mono TMT is offering at INR 50,250/t FoR Ahmedabad (Up by INR 200/t).
- Polaad TMT is offering at INR 49,500/t exw Jalna (Up by INR 300/t).
- Jai Kapeesh TMT offers unaltered at INR INR 45,500/t exw Durgapur.
- ARS TMT(Fe 550D) offers stable at INR 52,100/t exw Chennai.
Wire rod and structure
- Mid scale mills wire rod export offers hovering at $630/t exw Durgapur, equivalent to $655-660/t CPT Nepal, via road delivery.
- Trade reference wire rod prices in Raipur rose by INR 200/t to INR 46,500-46,700/t exw, due to fall in trade discounts. Also, assessment prices in Durgapur rose by INR 400/t to INR 46,700-46,800/t exw.
- Raigarh based Singhal Steel concluded around 1,000 t deals of wire rod at INR 46,000/t exw.
- Heavy structural steel, base price of 150 mm channel stable at INR 48,000/t in Raipur with firm trade discount of INR 900-1,100/t. Trade reference price of 200 mm angle is at INR 49,700-50,100/t exw.
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