Indian semi finished steel market has noticed limited trade activities and a drop in prices upto INR 500/t ($7), however finished long steel market turned supportive today.
As per the assessment, sponge iron and billet prices have fallen by INR 100-450/t in major locations. However, rebar market has observed an optimistic trend and prices moved up by INR 100-700/t, with major hike seen in Jalna by INR 700/t, d-o-d.
Raw Material
- BMM Ispat sold around 10,000 t pellets in nearby market at INR 11,900/t exw Bellary.
Semi Finished
- About 3,000 t Indian sponge iron export deals reported at $400/t CPT Benapole, equivalent to $415-420/t CFR Chittagong, Bangladesh.
- Raipur based sponge P-DRI manufacturers have floated offers at INR 25,800-25,900/t, however buying inquiries reported at INR 25,600-25,700/t exw.
- Visa Steels kept offers unchanged for steel grade pig iron at INR 35,000/t exw Jajpur.
- Rourkela based manufacturer, Mahavir Ferro Alloys offered billet at INR 39,200/t exw. However no deals reported from officials.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 27,000/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.
Rebar (12 mm)
- GK TMT offer reported at INR 46,600/t exw Raipur (Up by INR 200/t).
- Paras TMT is offering at INR 43,800/t exw Muzaffarnagar.
- Kalika TMT offers assessed at INR 48,500/t exw Jalna (Up by INR 100/t).
- BS TMX TMT offers at INR 43,500/t exw Raigarh (Up by INR 200/t).
- ARS 550 D offers at INR 51,300/t exw Chennai (Up by INR 1,000/t).
Wire Rod and Structure
- Trade discounts in Raipur wire rod increased by INR 200/t to INR 700-900/t, also trade reference price up by INR 100/t to INR 44,200-44,600/t exw. However, a sharp fall in prices reported in Durgapur by INR 400/t to INR 44,800-45,200 exw, size 5.5 mm.
- Raipur based heavy structure manufacturers maintained their base price at INR 44,000/t, trade discount hovering at INR 800-1,200/t, current trade price of 200 Angle is at INR 45,900-46,300/t exw.
Reference prices as on 30th Dec’20
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