The Indian secondary steel market has noticed a sharp hike in prices of around INR 100-900/t today, billet prices have shooted up by INR 100-550/t & sponge iron prices have gained by INR 300-600/t.
Also, rebar prices rallied by INR 200-900/t in major markets in which a major hike of around INR 500-900 was noticed in southern (including Chennai & Hyderabad) & eastern market (Durgapur).
Raw Material
- BMM Ispat sold around 10,000 t pellets in nearby market at INR 9,500/t exw Bellary.
- Monnet Ispat offered 60-14 silico manganese at INR 58,000/t exw Raipur- Officials.
Semi Finished
- Raipur based sponge P-DRI manufacturers have increased offers by INR 300-400/t at INR 22,600-22,800/t exw & sufficient deals reported.
- Durgapur based Neo Metaliks has reported steel grade pig iron deals at INR 30,300-30,400/t exw.
- Visa Steels concluded deals of around 800 t steel grade pig iron to Durgapur at INR 29,000/t exw Jajpur.
- Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 23,000/t & billet at INR 32,200/t exw Badtumkela.
- BMM Ispat increased offers by INR 200/t for FeM 80 P-DRI lumps to INR 21,700-21,800/t exw Bellary & around 2,500 t deals reported in nearby region.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 21,700/t exw Bellary (Up by INR 200/t).
Rebar (12 mm)
- Shrishtii TMT offers reported at INR 35,800/t exw Raigarh (Up by INR 500/t).
- Century TMT is offering at INR 36400/t exw Muzaffarnagar (up by INR 400/t).
- National TMT kept offers at INR 40,000/t FoR Ahmedabad.
- Rajuri TMT offers reported at INR 37,000/t exw Jalna.
Structure
- Trade discount given by Raipur based heavy structure manufacturer is at INR 600-900/t, and current trade price of 200 Angle stood at INR 39,000-39,400/t exw.
Reference prices as on 4th Nov’20
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