Indian secondary steel market has noticed mixed trends today as limited spot trades were observed in the market. however in Southern India, prices remained supportive and increased up to INR 800/t ($11) d-o-d.
As per the assessment, domestic sponge iron prices have fluctuated by INR 100-200/t across regions except Eastern India (Durgapur) as prices marginally increased by INR 100/t. Also, billet prices have seen a slight downfall by INR 100-200/t in major locations, whereas, prices were supportive in half of the regions.
In context to finished long, rebar prices have increased by INR 100-800/t in which a major price hike was registered in Bangalore & Chennai, Southern India by INR 600-800/t.
Raw Material
- Karnataka based BMM Ispat offered raw pellets at INR 11,600/t exw Bellary.
- Jsw Ispat Special Products Limited offered 60-14 silico manganese at INR 73,500/t exw Raipur- Officials.
- Singhal Steel, Raigarh based manufacturer has offered 60-14 silico manganese at INR 74,500/t exw.
Semi Finished
- Induction grade billet export offers stable at around $518-520/t exw Durgapur, equivalent to $545/t CPT Nepal, however demand remains limited, as per market sources.
- Raipur based sponge P-DRI manufacturers have kept offers firm at INR 27,400-27,500/t exw, however few bids reported at INR 27,100-27,200/t exw, while offers from outside suppliers reported at INR 27,200/t FoR Raipur.
- Durgapur based Neo Metaliks has reported steel grade pig iron deals at INR 35,500-35,700/t exw, prices unchanged against yesterday.
- Raigarh based Singhal Steel offered billet at INR 38,200/t exw.
- Rourkela based manufacturer, Mahavir Ferro Alloys offered billet at INR 38,500/t exw.
- Wada (Maharashtra) based mills sourcing FeM 80 C-DRI lumps from Bellary at around INR 28,000-28,200/t on FoR basis.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 26,300/t exw Bellary (Up by INR 100/t).
Rebar (12 mm)
- GK TMT offer reported at INR 45,500/t exw Raipur.
- Shrishtii TMT kept offers unchanged to INR 43,200/t exw Raigarh.
- Rana 550 TMT is offering at INR 43,600/t exw Muzaffarnagar.
- Mono TMT is offering at INR 47,450/t FoR Ahmedabad (Up by INR 300/t).
- Polaad TMT offers stable at INR 47,400/t exw Jalna.
- Bajrangbali Re-rollers is offering rebar at INR 43,200/t exw Rourkela.
Wire Rod and Structure
- Mid scale mills wire rod export offers stood at around $580/t exw Durgapur, equivalent to $605/t CPT Nepal.
- Trade discounts in Raipur wire rod are hovering at INR 1,200-1,400/t & trade reference price up by INR 100/t to INR 42,100-42,300/t exw. Also, prices in Durgapur rose by INR 200/t to INR 42,300-42,500/t exw Durgapur.
- Raipur based heavy structure steel manufacturers, unchanged the base price at INR 43,200/t, and given trade discount by INR 1,000-1,300/t, current trade reference price of 200 mm Angle is at INR 45,000-45,400/t exw.
Reference prices as on 2nd Mar’21
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