The Indian secondary steel market was witnessed to mixed trends prevailing on 22 Jul’21, as prices fluctuated in the range of INR 100-500/t across markets in the country.
As per SteelMint assessment, sponge iron prices increased by INR 100-500/t. However, a slight fall of INR 100/t was observed in eastern and central regions. Domestic billet offers, on the other hand, fluctuated in the range of INR 100-300/t in major markets.
The induction furnace route rebar market witnessed a significant hike in prices by INR 100-400/t in many locations, whereas in the Raipur market prices fell by INR 300/t.
Raw material
- Jharsuguda based pellet maker sold around 15,000 t raw pellets to Raigarh at INR 14,500/t exw.
- Odisha based sponge manufacturers getting RB2 coal offers at INR 8,500/t ex- Gopalpur port.
Semi finished
- Induction grade billet export offers stable at $565-570/t exw Durgapur (equivalent to $595/t CPT Nepal), via road delivery.
- Sponge P-DRI prices in Raipur up by INR 100/t & deals reported at INR 29,700-29,800/t on exw & FoR basis.
- Durgapur based Neo Metaliks has kept steel grade pig iron offers firm at INR 38,000/t exw & sufficient deals reported by officials.
- Jharsuguda, Odisha based sponge supplier sold around 1,200 t FeM 80 P-DRI at around INR 29,700/t FoR Raipur.
- Jindal Steel has offered panther shots (granulated pig iron) at INR 38,300/t exw Angul.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 29,200-29,300/t exw Bellary.
Rebar (12 mm)
- GK TMT(Fe 500D) is offering at INR 47,400/t exw Raipur (Up by INR 200/t).
- Shrishtii TMT offers reported at INR 45,000/t exw Raigarh (Down by INR 300/t).
- Wonder Gold TMT is offering at INR 46,000/t exw Muzaffarnagar (Up by INR 400/t).
- Brahm TMT offers reported at INR 44,500/t exw Durgapur.
- Vinayak TMT is offering at INR 49,500/t FoR Ahmedabad (Up by INR 600/t).
- Gajkesari TMT offers reported at INR 47,400/t exw Jalna.
- Metalics 550D TMT offers reported at INR 46,500/t exw Sambalpur (Up by INR 300/t).
Wire rod and structure
- Mid scale mills wire rod export offers firm at $615-620/t exw Durgapur, equivalent to $645/t CPT Nepal, via road delivery.
- Trade reference wire rod prices unaltered at around INR 45,800-46,000/t exw Raipur & Durgapur.
- Raigarh based Singhal Steel concluded around 1,000 t deals of wire rod at INR 45,300/t exw.
- Heavy structural steel, base price of 150 mm channel increase by INR 400/t to INR 46,700/t in Raipur with firm trade discount of INR 600-900/t. Trade reference price of 200 mm angle is at INR 48,800-49,200/t exw.
Reference prices as on 22nd Jul’21
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