Secondary steel market turned optimistic despite prices in Punjab kept fluctuating throughout the day. Semi finished and finished steel prices have increased up to INR 700/t ($10) d-o-d, today.
As per the assessment, sponge iron prices have moved up by INR 100-300/t. Following the same trend, billet & rebar prices have increased by INR 100-700/t (d-o-d) in major locations except Goa, where rebar prices have slightly dropped by INR 400/t.
Participants are assuming that prices will remain volatile due to higher raw material prices and fluctuating demand. Also due to holiday mood, spot trades are likely to remain on the lower side.
Raw Material
- Karnataka based BMM Ispat offered raw pellets to INR 12,000/t exw Bellary.
Semi Finished
- Induction grade billet export offers increased by $5/t to $520/t exw Durgapur, equivalent to $545/t CPT Nepal, via road delivery.
- Raipur based sponge P-DRI manufacturers have raised offers by INR 300/t to INR 26,200-26,400/t, however few bids reported at INR 26,000-26,100/t exw.
- Visa Steels kept offers unchanged for steel grade pig iron at INR 34,500/t exw Jajpur.
- Jajpur, Odisha based sponge supplier sold around 500 t FeM 80 C-DRI mix material at around INR 27,600/t FoR Durgapur.
- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 26,500/t & billet at INR 37,300/t exw Badtumkela.
- Odisha based manufacturer, Ganesh Metaliks concluded a deal of 500 t billet (125×125 mm) at INR 40,400/t FoR Jalna, an official reported.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 26,900/t exw Bellary (Down by INR 100/t).
- BMM Ispat has kept offers unaltered for FeM 80 P-DRI lumps at INR 27,000/t exw Bellary. However no deals reported from officials.
Rebar (12 mm)
- GK TMT offers at INR 45,500/t exw Raipur (Up by INR 500/t).
- Century TMT offers assessed at INR 42,000/t exw Muzaffarnagar.
- BS TMX TMT offers reported at INR 42,100/t exw Raigarh (Up by INR 100/t).
- Kalika TMT is offering at INR 47,200/t exw Jalna (Up by INR 700/t).
- ARS 550 D offers unchanged at INR 49,300/t exw Chennai.
Wire Rod and Structure
- Mid scale mills wire rod export offers declined to $595-600/t exw Durgapur, equivalent to $620-625/t CPT Nepal.
- Trade discounts in Raipur wire rod drop further by INR 200/t to INR 600-800/t, also base offers up by INR 200/t to INR 44,200/t exw Raipur. Meanwhile, Durgapur based plants have maintained offers at INR 43,500-44,000/t exw.
- Raipur based heavy structure manufacturers, kept stable their base price at INR 43,000/t, and maintained trade discount at INR 700-1,000/t, current trade price of 200 Angle is at INR 45,000-45,400/t exw.
Reference prices as on 24th Dec’20
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