Indian secondary steel market has noticed a positive trend today and prices rose upto INR 1,000/t ($14) d-o-d. Demand continues to remain supported along with rising domestic scrap prices. Also, with primary mills raising steel prices, the mid sized steel plants are increasing offers significantly.
As per the assessment, sponge iron prices have rallied up by INR 100-400/t, however, in central India including Raipur & Raigarh market have observed a price fluctuation of INR 100/t.
Meanwhile, billet & rebar prices have increased by INR 100-1,000/t (d-o-d) in which the prices have sharply moved up by INR 500-1,000/t in south & western India on strong demand along with rising scrap prices globally.
Raw Material
- Karnataka based BMM Ispat offered raw pellets at INR 11,900/t exw Bellary.
- Singhal Steel, Raigarh based manufacturer has offered 60-14 silico manganese at INR 68,000/t exw.
Semi Finished
- Mid scale mills export offers to Nepal are floated premium of $5-10/t due to expiring of MEIS benefits & the fresh offers of induction grade billets stood at $535-540/t exw Durgapur, equivalent to $560-565/t CPT Nepal.
- Raipur based sponge P-DRI manufacturers have floated offers at INR 26,200-26,400/t, however deals reported at around INR 26,100/t exw.
- Visa Steels concluded deals of around 500 t steel grade pig iron in local region at INR 34,500/t exw Jajpur. Later on offers increased to INR 35,000/t exw.
- Raigarh based Singhal Steel offered billet at INR 38,800/t exw.
- Monnet Ispat has offered sponge DR-CLO grade at INR 28,000/t & P-DRI at INR 26,200/t exw Raipur.
- Bhaskar Steel and Ferro Alloy Ltd, offered FeM 80 C-DRI lumps at INR 27,000/t & billet at INR 38,500/t exw Badtumkela.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 27,100/t exw Bellary (Up by INR 200/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 offer reported at INR 46,200/t exw Raipur.
- BS TMX TMT is offering at INR 43,000/t exw Raigarh.
- Shubhlabh TMT offers assessed at INR 43,300/t exw Rourkela.
- Century TMT offers assessed at INR 43,100/t exw Muzaffarnagar.
- Mono TMT is offering at INR 48,850/t FoR Ahmedabad (Up by INR 1,000/t).
- Kalika TMT is offers reported at INR 47,700/t exw Jalna (Up by INR 200/t).
Wire Rod and Structure
- Durgapur based mills offer wire rod for exports at around $615/t exw, equivalent to $640/t CPT Nepal, via road delivery.
- Trade discounts in Raipur wire rod are currently at INR 500-700/t and trade reference price stood at INR 44,000-44,200/t exw Raipur & INR 44,400-44,700 exw Durgapur, size 5.5 mm.
- Raipur based heavy structure manufacturers, kept stable their base price at INR 43,500/t, and maintained trade discount at INR 700-1,000/t, current trade price of 200 Angle is at INR 45,500-45,900/t exw.
Reference prices as on 28th Dec’20
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