The manufacturers in central & eastern India have slightly raised Rebar & Billet offers on account of active demand. As per them, improved lifting lead to shortage of material due to less capacity utilization.
However in west & southern India, the producers have maintained offers firm on day trade activities.
USD/INR exchange rate
— On 1st May’20 (Friday) INR to USD exchange rate stood at INR 75.47
Secondary steel market update –
Raipur: Rebar offers remained stable against last day assessment and reported at INR 32,000/MT but trades were reported at around INR 31,600-900/MT considering the market range; EXW.
— Heavy structure offer saw marginal increase by INR 200/MT to INR 31,200/MT and trade discounts maintained at around INR 400-600/MT. Current trade assessment is registered at INR 33,500-700/MT, 200 Angle, EXW.
— While, medium & light structure prices were observed stable against last assessment and basic price registered at INR 25,400-500/MT EXW, however no major deals were observed as per market participants.
— Real Ispat has further increased GK TMT offers by INR 300/MT to INR 34,300/MT, EXW. Demand is quite active, as per officials.
— Wire rod base offers remain unchanged at INR 30,000/MT & deals assessed at around INR 28,900-29,100/MT EXW. Also, GI Wire (12 G) offers steady at INR 39,100-300/MT & BINDING Wire (20 G) at around INR 37,500-800/MT EXW.
— Billet offers reported to be INR 26,100-200/MT FoR basis from Raigarh (advance payment) & in local Raipur based plants it was at INR 26,200/MT EXW on next day payment.
— Silico Manganese (60-14) offers stood at INR 66,000-67,000/MT EXW.
— Sponge P-DRI offers more or less firm to around INR 15,600/MT EXW.
Raigarh: Sources reported, trades remain limited & offers for Billet are reported at around INR 25,600-700/MT EXW (up by INR 100-200/MT). Few deals learned at INR 26,200/MT FoR Raipur.
— Sponge offers from manufacturers remain unaltered, C-DRI at INR 16,000/MT & P-DRI at INR 15,000/MT EXW.
— A trade participants, few deals of C-DRI mix material from Odisha at INR 15,700-,800/MT FoR Raigarh.
— Silicon Manganese (60-14) offers reported at INR 66,000/MT EXW.
Durgapur: Kharagpur based manufacturer has increased Rebar offer by INR 200/MT to INR 30,200-300/MT & Billet by INR 300-500/MT to INR 25,800-26,000/MT, EXW. Wire rod offers were kept unchanged at INR 29,400-29,600/MT EXW.
As per sources, buyers from North India are sourcing Billets from Kharagpur and freight cost reported at around INR 2,700/MT via road.
Rourkela: Offers remain unaltered for Billet at INR 25,000-25,100/Mt. A trade participant reported, few Billet deals at INR 27,500/MT FoR Jalna. While C-DRI mix material declined by INR 300-400/MT to INR 15,000-15,200/MT EXW.
— Bhaskar Steel and Ferro Alloy Ltd is offering Billet at INR 25,100/MT EXW.
— Bajrangbali Steel Industries Pvt Ltd based is offering Rebar at INR 31,300-400/MT EXW.
— The manufacturers are offering ERW pipe at INR 32,300/MT EXW.
Muzaffarnagar: Rebar offers are unchanged against last day assessment and reported at INR 32,500/MT. Less trades have been observed since a few days which might get hit badly as Covid-19 positive cases increased in some areas. Muzaffarnagar may face a situation of total lockdown as it might be declared as RED ZONE.
Mumbai/Jalna: Still market closed and no offers reported for Billet and Rebar.
Hyderabad: Traders reported no major activities from the manufacturer’s end in Semis products, while in Finished steel, Rebar offers for sale of stock reported at INR 34,200/MT EXW.
Bellary: BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,500/MT EXW.
Ahmedabad: Alang Ship breaking yards offering limited scrap in the market i:e; Melting & Attachment along with few other sizes. Melting stands at INR 21,500-700/MT and Attachment registered at INR 22,500-700/MT, Ex-Yard.
— Bhavnagar based few mills offering Ingot at INR 27,800-900/MT FoR, Whereas in Billet price stood at INR 28,000-28,200/MT FoR.
— Trade price of Rebar stood at INR 33,500-900/MT FoR.
— Shreeyam Power & Steel Industries Ltd. (National TMT) has kept unchanged their Rebar offer at INR 34,200/MT FoR.
— Akshar Ispat Ltd. (Akshat TMT) offers for Rebar are at INR 33,400/MT FoR.
Note: The prices mentioned above for Rebar at 12-25mm, Wire rod at 5.5mm & Billet of 100*100mm.
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