Spot trades in the Indian secondary steel market remained modest and the prices of Semis products have fluctuated by INR 100-800/t, while finished steel prices remain under pressure & plunged up to INR 1,000/t today.
As per the assessment, the domestic billet market has noticed a hike in prices by INR 100-800/t except in Jalna (Maharashtra) where offers decline by INR 500/t, d-o-d. Meanwhile, sponge iron offers have fallen marginally by INR 100-200/t in the major markets.
In addition to this, the rebar prices have also declined by INR 100-1,000/t with a major drop in prices seen in Ahmedabad, Mumbai & Jalna by INR 500-1,000/t, whereas, offers in Hyderabad & Muzaffarnagar have raised by INR 500/t.
Semi Finished
- Induction grade billet export offers slightly up by $2-3/t to around $545/t exw Durgapur, equivalent to $570/t CPT Nepal. Whereas no major deals as buyers are waiting for softening offers.
- Neo Metaliks in Durgapur has reduced steel grade pig iron price by INR 300/t to INR 38,500/t exw, however demand remains weak, as per officials.
- Sponge P-DRI prices further fell in Raipur by INR 100/t to INR 29,300-500/t exw and few trades reported at INR 29,300-400/t on exw and FoR Raipur basis.
- Jharsuguda, Odisha based sponge supplier offered FeM 80 P-DRI at around INR 29,400/t FoR Raipur.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 28,500/t exw Bellary (Down by INR 200/t).
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 29,000/t exw Bellary (Down by INR 300/t).
Rebar (12 mm)
- Shrishtii TMT offers reported at INR 45,800/t exw Raigarh.
- Metalics 550D TMT offers reported at INR 47,000/t exw Sambalpur.
- Rathi Stelmax TMT offer reported at INR 49,000/t exw Delhi/NCR.
- Mono TMT is offering at INR 50,300/t FoR Ahmedabad (Down by INR 500/t).
- Polaad TMT is offering at INR 50,000/t exw Jalna (Down by INR 1,000/t).
- ARS TMT (Fe 550 D) offer stable at INR 55,000/t exw Chennai.
Wire Rod and Structure
- Trade discount in Raipur wire rod drop to INR 1,300-1,500/t, following which trade reference price up by INR 400/t to INR 45,000-45,200/t exw. Also, prices in Durgapur gain by INR 200/t to INR 45,200-45,300/t exw.
- Mid scale mills wire rod export offers reported at $605-610/t exw Durgapur, equivalent to $635/t CPT Nepal.
- Raipur based heavy structure steel manufacturers, reduce the base price of 150 mm channel by INR 500/t to INR 46,400/t, and maintained trade discount at INR 1,000-1,300/t, current trade reference price of 200 mm angle is at INR 48,100-48,500/t exw.
Reference prices as on 21st Apr’21
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