Iron ore & pellets –
- SteelMint’s bi-weekly domestic pellet index “PELLEX” decreased slightly by INR 50/t to INR 13,500/t DAP Raipur in recent deals. Four deals for a total quantity of around 25,000 t pellets have been reported in this publishing window.
- KIOCL floated a pellet export sale tender for about 50,000 t (Fe 63.5% and Al 2-2.1%). The tender due date is 15th Apr ’21 for all the empanelled customers.
- China’s iron ore imports rose by 8% y-o-y in Q1 CY ’21 on increased demand, supported by a firm consumption outlook.
Coal –
- RB2 portside prices corrected further at Gangavaram port. In a confirmed deal, 10,000 t of RB2 coal has been sold at INR 6,600/t ex-Gangavaram port, down by INR 100/t on d-o-d basis.
Scrap & Metallics –
- SteelMint’s domestic steel scrap index decreased slightly to INR 37,200/t DAP Mandi Gobindgarh. Nominal downward price correction in semi-finished steel and slowdown in finished steel buying inquiries have pulled down bids for domestic scrap.
- SAIL conducted an auction for 4,100 t of basic grade pig iron on 13 Apr ’21 from its Rourkela Steel Plant, Odisha. Entire quantity got booked at INR 38,330/t exw. Bid price dropped slightly by INR 270/t as compared to the previous auction held on 05 April.
- SteelMint’s benchmark sponge iron (P-DRI) prices fell by INR 150/t to INR 29,250/t ($388), exw Raipur, Central India due to lower bids. In addition to this, with falling billet prices, the sponge makers are being forced to deal with lower prices.
- Imported scrap trades in Pakistan slowed down even as the market geared up for Ramadan. SteelMint’s assessment for UK/EU origin containerised shredded stands at $463/t CFR Qasim levels, down slightly by $5 against last week’s closing.
Semi-finished steel-
- SteelMint’s daily billet index has been assessed at INR 40,700/t (-400) exw Raipur on 13th Apr’21 at 18:00 IST. Following a decline in prices in Northern India, the spot billet trades have decreased in major markets including Raipur, Central India.
- An Indian state-owned mill has reported having sold 30,000 t billets through an export tender floated for spot sale against 100% advance payment terms. According to SteelMint sources, the mill achieved a price level of around $593-595/t, FoB.
Finished steel –
- SteelMint’s Indian HRC (SAE 1006) export index stood at $927/t FoB East-coast basis, up by $37/t w-o-w as against $890/t FoB basis.
- Chinese finished steel exports were up by 16% y-o-y in Q1 CY ’21 primarily due to rising global demand.
Ferro alloys –
- Indian silicomanganese prices fell marginally as sellers looked to liquidate their stocks. Silicomanganese 60/14 has been assessed at INR 90,000-91,000/t Ex-Raipur and INR 88,000-89,000/t Ex-Durgapur.
Leave a Reply