Indian spot trades of semi-finished & finished long steel products remained subdued & the prices have recorded a slight fluctuation of INR 100-300/t across markets today.
Sources are assuming prices to find support on account of sufficient orders along with further hike in list prices by primary mills for the Jan’21 deliveries.
Raw Material
- Karnataka based BMM Ispat offered raw pellets at INR 11,900-12,000/t exw Bellary.
Semi Finished
- Induction grade billet export offers remained strong and floated at around $540/t exw Durgapur, equivalent to $565/t CPT Nepal, via road delivery.
- Raipur based sponge P-DRI manufacturers have kept offers stable at INR 25,900-26,000/t & deals reported at INR 25,800-25,900/t exw.
- Visa Steels concluded deals of around 1,000 t steel grade pig iron in local region at INR 35,000/t exw Jajpur.
- Ind Synergy (Raigarh) offered P-DRI at INR 25,500/t & billet at INR 39,000/t exw.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 27,000/t exw Bellary.
- 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 stable at INR 46,600/t exw Raipur.
- Diamond TMT offer reported at INR 49,000/t FoR Ahmedabad.
- Kalika TMT is offering at INR 48,800/t exw Jalna (Up by INR 300/t).
- BS TMX TMT offers reported at INR 43,500/t exw Raigarh.
Wire Rod and Structure
- Mid scale mills wire rod export offers stood at around $625/t exw Durgapur, equivalent to $650/t CPT Nepal.
- Trade discount in Raipur wire rod is hovering at INR 1,000/t & trade reference price stable at INR 44,200-44,600/t exw Raipur & INR 44,800-45,200/t exw Durgapur, size 5.5 mm.
- Raipur based heavy structure manufacturers, kept stable their base price at INR 44,000/t, and maintained trade discount at INR 700-1,000/t, current trade price of 200 Angle is at INR 45,900-46,300/t exw.
Reference prices as on 31st Dec’20
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