Indian steel prices declined further & as per daily assessment sponge iron prices fell by INR 100-400/t. Also, billet prices softened by INR 100-500/t in all the regions.
Moreover, rebar prices have seen a downward trend of around INR 100-400/t, d-o-d, due to poor demand and falling semi finished prices on prevailing dull market sentiments.
Raw Material
- Silicon manganese (60-14) offers hovering at INR 60,000/t, while few of deals reported at INR 59,500-60,000/t exw Raipur, central India.
Semi Finished
- Induction grade billet (100*100 mm) export offers stood at $395-397/t exw Durgapur, equivalent to $420-425/t CPT Nepal, via road delivery.
- Visa Steels offering steel grade pig iron at INR 27,300/t exw Jajpur (Down by INR 200/t).
- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered billet at INR 29,200/t exw.
- Ind Synergy (Raigarh) offered P-DRI at INR 18,600/t & billet at INR 28,700/t exw.
- Raipur based sponge manufacturers have kept P-DRI offers firm at INR 19,100-19,200/t, however few deals learned at INR 19,000/t exw.
- BMM Ispat decreased offers by INR 100/t for FeM 80 P-DRI lumps to INR 18,500-18,600/t exw Bellary
Rebar (12 mm)
- GK TMT offer unchanged at INR 35,000/t exw Raipur.
- Shrishtii TMT offers reported at INR 32,700/t exw Raigarh (Down by INR 200/t).
- Rathi Stelmax TMT kept offer stable at INR 36,000 exw Delhi/NCR.
- Mono TMT is offering at INR 34,500 FoR Ahmedabad (Down by INR 200/t).
- Rajuri TMT is offering at INR 33,900 exw Jalna (Down by INR 200/t).
Wire Rod, Pipe & Structure
- Trade discount in Raipur wire rod stood at INR 1,000-1,200/t, however base price drop further by INR 300/t to INR 33,700/t exw. Also, in Durgapur trade reference price declined by INR 200/t to INR 32,500-32,800/t exw.
- Raipur based heavy structure manufacturers reduce their offer by INR 200/t and maintained trade discount at INR 700 -1,100/t, the current trade price of 200 Angle is stood at INR 36,300-36,700/t exw.
Reference prices as on 23rd Sep’20
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