Iron ore & pellets-
- SteelMint’s bi-weekly domestic pellet index “PELLEX ” moved up by INR 450/t to INR 15,000/t DAP Raipur in view of some recently concluded deals. Four deals with total quantity of 40,000 t pellet were reported in this publishing window at INR 14,650-15,350/t DAP, Raipur.
Coal –
- In a confirmed deal 5,000 tonne RB2 coal was traded yesterday at INR 6,800/t ex-Gangavaram. Portside prices across several ports have gained some strength, starting this week due to slight pickup in demand as oxygen shortage seems to be easing out and steel plants seem to be gradually resuming operations.
Scrap & metallics –
- One of the major pig iron producers and suppliers in India has recently concluded an export tender for around 30,000 t for early Jun ’21 shipment, SteelMint learned from trade sources. The deal was heard to have been concluded at around $520-525/t FoB India levels (equivalent to $560/t CFR China).
- Vedanta Limited – a major pig iron producer in India increased its foundry grade pig iron offer yesterday by around INR 2,300/t m-o-m, SteelMint learnt from credible sources. The current offer for this stands at INR 46,500/t DAP Gujarat.
- SteelMint’s domestic steel scrap index increased to INR 39,000/t DAP Mandi Gobindgarh. Supply tightness of melting scrap due to inter-state lockdowns has pushed the buyers to raise their bids accordingly.
- SteelMint’s assessment for UK/EU origin shredded stands at $478/t CFR Qasim levels, up by $8 against last week’s closing. Few trades for around 3,000 t of UK/EU origin shredded in containers have been concluded at $475-480/t CFR levels.
- Pakistan’s Gadani ship breaking yard in Balochistan has decided to suspend operations from 06 to 18 May ’21 to diversion of oxygen gas for medical uses.
Semi-finished steel –
- Indian billet export prices surged to an all-time high, as witnessed in a recent deal, since the time data is being maintained by SteelMint i.e. from Nov ’12. According to our sources, an Indian mill has sold 30,000 t billets at around $630/t FoB India for June shipment.
- SteelMint’s daily billet index fell by INR 50/t to INR 42,450/t exw Raipur on 04 May ’21. A total of 4,200 t billets trades were recorded.
Finished steel-
- SteelMint’s Indian HRC (SAE 1006) export index currently stands at $970/t FoB East-coast basis, up by $20/t w-o-w from $950/t FoB basis, earlier. Indian mills have lifted HRC export offers to $1,000-1,020/t CFR basis for Vietnam. Limited trades were reported due to holidays in Vietnam.
Ferro alloys –
- Indian silicomanganese prices were down marginally in the domestic market as demand appears to have reduced. There is a large variation being seen in the Indian market with offers ranging from INR 84,000/t to INR 88,000/t depending on the specific region. Currently, Raipur prices are at around INR 86,500-87,000/t ex-works and Durgapur prices are at INR 87,500-88,000/t.
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