Indian steel prices declined further today. Sponge iron prices fell by INR 400-800/t, whereas billet prices dropped by INR 100-1,000/t in major markets. Also, rebar prices have seen a downfall of around INR 200-800/t, d-o-d.
The major drop in prices assessed in central, eastern & southern India by INR 600-1,000/t due to limited demand along with aggressive selling by traders & manufacturers as well with an assumption of price corrections.
Semi Finished
- Raipur based sponge P-DRI manufacturers have further reduced offers by INR 800/t to INR 18,800-18,900/t exw, however no major inquireis reported due to falling billet prices.
- Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 31,000/t & INR 34,000/t on FoR basis & excluding 18% GST.
- Durgapur based Neo Metaliks has reduced steel grade pig iron price by INR 300/t to INR 29,000/t exw.
- BIOP Steels in Karnataka has decreased sponge prices by INR 500/t, offering FeM 80 C-DRI lumps at INR 19,200-19,300/t exw.
Rebar (12 mm)
- GK TMT is offering at INR 35,300/t exw Raipur (Down by INR 500/t).
- Shrishtii TMT offers reported at INR 33,000/t exw Raigarh (Down by INR 500/t).
- Rathi Stelmax TMT offers at INR 35,600/t exw Delhi/NCR (Down by INR 400/t).
- Swarup TMT is offering at INR 33,800/t exw Muzaffarnagar (Down by INR 200/t).
- Polaad TMT offers at 34,500/t exw Jalna (Down by INR 400/t).
- Gujarat based German TMX offers down by INR 300/t to INR 41,900/t exw (Size 20 mm, incl tax).
- Mono TMT is offering at INR 35,500/t FoR Ahmedabad (Down by INR 300/t).
Wire Rod & Pipe
- ERW Pipe manufacturers have decreased offers by INR 600-700/t to INR 35,000/t exw Raipur.
Reference prices as on 21st Aug’20
Leave a Reply