The Indian secondary steel market witnessed slight recovery on 30 Jun’21, although later in the day the market witnessed slight correction in prices. Prices fluctuated by INR 100-500/t d-o-d.
According to SteelMint assessment, semi-finished steel (sponge iron and billet) offers increased by INR 100-300/t. Meanwhile, prices declined by 100-500/t in the eastern, western and southern regions of the country.
Moreover, induction furnace grade rebar offers fluctuated by INR 100-500/t across key markets in the country.
Semi finished
- Induction grade billet export offers up by $5/t to $550/t exw Durgapur, equivalent to $575-580/t CPT Nepal, via road delivery. However, demand remains weak, as per exporters.
- Neo Metaliks in Durgapur has reduced steel grade pig iron offers by INR 200/t to INR 37,500/t exw.
- Sponge P-DRI prices in Raipur slightly up by INR 100/t & deals reported at around INR 29,300-29,400/t on exw & FoR basis.
- Jharsuguda, Odisha based sponge supplier offered FeM 79 P-DRI at around INR 29,400/t FoR Raipur.
- Ind Synergy offered P-DRI at INR 29,200/t & billet at INR 40,400/t exw Raigarh.
- Mahavir Ferro Alloys sold around 500 t sponge iron (mix material) at INR 30,000/t exw Rourkela.
- BIOP Steels in South India concluded deals of 1,000 t FeM 80 C-DRI lumps at INR 27,800-27,900/t exw Bellary.
Rebar (12 mm)
- GK TMT(Fe 500D) offers unchanged at INR 46,500/t exw Raipur.
- Rathi Stelmax TMT kept offers stable at INR 47,150/t exw Delhi/NCR.
- Mono TMT is offering at INR 47,100/t FoR Ahmedabad (Down by INR 300/t).
- Kalika TMT is offering at INR 46,500/t exw Jalna (Down by INR 500/t).
- Swarup offers reported at INR 45,500/t exw Muzaffarnagar.
- CPC THERMEX TMT offers unaltered at 43,800/t exw Durgapur.
- BS TMX offers reported at INR 43,500/t exw Raigarh (Down by INR 200/t).
- Metalics 550D TMT offers reported at INR 44,700/t exw Sambalpur.
Wire rod and structure
- Mid scale mills wire rod export offers stood at around $590/t exw Durgapur, equivalent to $615-620/t CPT Nepal, via road delivery.
- Trade reference wire rod prices in Raipur rose by INR 200/t to INR 44,500-44,700/t exw, due to drop in trade discounts. Also, prices in Durgapur gained by INR 200/t to INR 43,300-43,500/t exw.
- Raigarh based Singhal Steel offered wire rod at INR 44,000/t exw.
- Jharsuguda, Odisha based wire rod supplier offers reported at INR 44,400/t exw.
- Raipur based heavy structure steel manufacturers, kept stable the base price of 150 mm channel at INR 45,500/t and given trade discount by INR 600-900/t. Trade reference price of 200 mm angle is at INR 47,500-47,900/t exw.
Reference prices as on 30th June’21
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