Indian steel prices have seen a slight gain today in 2nd half. Sponge iron prices moved up by INR 100-300/t in many locations whereas it slightly dropped by INR 100/t in southern region. However billet prices increased by INR 50-300/t in major markets.
Also, rebar prices have seen a hike of INR 100-300/t in north, east & central region, whereas it fell by INR 100-200/t, d-o-d, in western & southern market.
As per SteelMint’s participant, secondary mills are eyeing on hike in prices as primary player are planning to raise prices from next week onwards.
Semi Finished
- Raipur based sponge manufacturers have increased P-DRI offers by INR 200/t to INR 19,100-19,300/t exw & sufficient deals reported by couple of plants total of around 3,000-4,000 t & closed sales for today.
- Neo Metaliks in Durgapur has maintained steel grade pig iron offers firm at INR 28,300-28,400/t exw & as per officials, response better today.
- Electrosteels based in Bokaro has offered steel grade pig iron at INR 28,000/t exw & as per officials, healthy deals in last couple of days.
- Visa Steels offering steel grade pig iron at INR 27,500-27,600/t exw Jajpur (Down by INR 400-500/t).
- Bhaskar Steel and Ferro Alloy Ltd (Odisha) offered FeM 80 C-DRI lumps at INR 20,000/t & billet at INR 29,000/t exw.
- Ind Synergy (Raigarh) offered P-DRI at INR 19,000/t & billet at INR 29,100/t exw.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 18,700/t exw Bellary (Down by INR 300/t).
- BMM Ispat has kept offers unaltered for FeM 80 P-DRI lumps at INR 18,700-18,800/t exw Bellary & around 3,500 t deals reported in nearby region.
Rebar (12 mm)
- GK TMT unchanged their offers at INR 34,700/t exw Raipur.
- Shrishtii TMT offers reported at INR 32,300/t exw Raigarh (Up by INR 200/t).
- Radhe TMT has kept offers stable at INR 32,000/t exw Raigarh.
- Century TMT unaltered offers at INR 34,200/t exw Muzaffarnagar.
- Polaad TMT unchanged their offers at 34,200/t exw Jalna.
- Diamond TMT is offering at INR 35,800/t FoR Ahmedabad (Down by INR 300/t).
- National TMT is offering at INR 35,900/t FoR Ahmedabad.
- Gujarat based German TMX offers down by INR 200-300/t to INR 35,600/t FoR.
Wire Rod & Pipe
- ERW Pipe manufacturers have kept offers at firm level to INR 34,500-34,700/t exw Raipur.
- Hyderabad (South India) based manufacturer Hari Om Pipe Industries Ltd has offered ERW Pipe at INR 38,800/t exw.
- Trade discounts in Raipur wire rod dropped INR 500/t to INR 800-1,000/t through the traders, also base price reduced by INR 400/t to INR 32,800/t exw. Trade reference price in Durgapur increased by INR 300/t to INR 32,700-33,000/t exw.
Reference prices as on 28th Aug’20
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