Indian spot steel prices in the secondary market have noticed a fall of around INR 50-1,000/t today. As per SteelMint’s assessment, sponge iron prices have fallen by INR 200-500/t & billet prices by INR 50-1,000/t in which a major fall has been recorded in Southern India (Hyderabad).
Also, the rebar market has observed a decline in prices by INR 100-600/t in most of the regions.
Industry leaders stated that there is less scope of further fall in price range due to tight raw material prices along with rising steel prices globally. With slight improved demand prices may gain to previous levels, they anticipate.
Semi Finished
- Induction grade billet export offers down by $5/t to $455-460/t exw Durgapur, equivalent to $480-485/t CPT Nepal.
- Raipur based sponge producers have further reduced P-DRI offers by INR 300-400/t to INR 24,500/t exw. Also, offers from outside suppliers fell to INR 24,400-24,500/t FoR Raipur.
- Ind Synergy (Raigarh) offered P-DRI at INR 23,700/t exw.
- Neo Metaliks has slightly lowered steel grade pig iron price by INR 100/t to INR 30,400/t exw Durgapur.
- Visa Steels offered FeM 80 sponge C-DRI (mix material) at INR 24,400/t exw Jajpur.
- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 24,700/t & billet at INR 33,500/t exw Badtumkela.
- Chandrapur (Maharashtra) based manufacturers offered sponge P-DRI (FeM 80) at around INR 24,500/t exw.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 24,000/t exw Bellary.
- Hare Krishna has offered FeM 79-80 P-DRI at INR 24,000/t exw Bellary (Down by INR 500/t).
Rebar (12 mm)
- GK TMT is offering at INR 39,500/t exw Raipur (Down by INR 500/t).
- Shrishtii TMT offers reported at INR 37,100/t exw Raigarh (Down by INR 300/t).
- Rathi Stelmax TMT unchanged their offer at INR 40,300/t exw Delhi/NCR.
- Gallant TMT offers reported at INR 39,400/t exw Gorakhpur.
- Mono TMT is offering at INR 40,800/t FoR Ahmedabad (Down by INR 300/t).
- Kalika TMT offers assessed at INR 40,200/t exw Jalna (Down by INR 300/t).
- ARS 550 D offers reported at INR 43,200/t exw Chennai.
- A one Gold TMT offers reported at INR 40,800/t exw Bellary.
Wire Rod & Structure
- Mid scale mills wire rod export offers declined by $5/t to $510-515/t exw Durgapur, equivalent to $535-540/t CPT Nepal.
- Trade discounts in Raipur wire rod drop by INR 200/t to INR 1,000-1,200/t, also base offers slump by INR 700/t to INR 38,600/t exw. Trade reference price in Durgapur fell by INR 600/t to INR 37,500-38,000/t exw.
- Raipur based heavy structure manufacturers, reduces their base price by INR 300/t to INR 38,700/t exw, and maintained trade discount at INR 600-900/t, current trade price of 200 Angle assessed at INR 40,700-41,100/t exw.
Reference prices as on 24th Nov’20
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