Iron ore & pellets –
- Odisha has sought INR 620 crores in differential mineral taxes from Sarda mines.
- Western India-based – Jindal SAW Ltd increased its pellet offer by INR 450/t w-o-w. The current offer for Fe 63% grade pellets stands at INR 15,200/t DAP Kandla, SteelMint learned from its sources. Hike in pellet offers in other markets along with an increase in global iron ore prices have resulted in a hike in pellet offers.
Coal –
- In a confirmed deal, 8,000 t of South African RB2 (5500 NAR) coal has been traded at INR 6,700/t (exclusive of cess and GST) ex-Gangavaram. In view of the growing restrictions due to rising COVID cases, very limited trades are being reported at various ports.
Scrap & Metallics –
- SteelMint’s domestic steel scrap index decreased to INR 37,600/t DAP Mandi Gobindgarh. Limited semi-finished steel transactions have weighed down scrap prices, with market participants turning less active yesterday.
- SteelMint assessment for imported Japanese H2 scrap offers to Vietnam currently stand at $465/t CFR Vietnam levels, up by $7 against the beginning of last week.
- SteelMint’s benchmark sponge iron (P-DRI) prices fell further by INR 500/t to INR 30,000/t ($400), exw Raipur, Central India. Prices dropped due to lower bids and weak demand.
Semi-finished steel –
- SteelMint’s daily billet index has been assessed at INR 41,900/t (-850) exw Raipur on 19th Apr ’21, 18:00 IST. The prices have been falling continuously as production by re-rollers were seen to be affected adversely in the local market due to limited availability of labour. Also, demand from neighboring state i.e. Maharashtra cooled down due to the similar reason as well as shortage of oxygen supply.
Finished steel –
- JSW Steel lifted the list price of HRC by INR 1,500/t and CRC by INR 3,000/t for Apr ’21 delivery. This is the third revision announced by the company. The revised prices for HRC stand at around INR 61,500-62,000/t and CRC at INR 75,000-75,500/t for Apr delivery. Prices are on an exy-Mumbai basis, excluding GST @ 18%.
- This week imported HRC offers remained stable after witnessing a steep hike in the past few weeks on the back of bullish sentiments in the global market. Indian mills are currently offering at around $940-950/t CFR Vietnam.
- Taiwan’s leading steel company – China Steel Corporation (CSC) has reported its last month’s carbon steel sales at 878,997 t, a 19% m-o-m increase compared to the sales in Feb at 736,343 t.
- Tokyo Steel Manufacturing, Japan’s leading EAF, has announced its monthly carbon steel offers for May ’21 delivery. The company raised its prices by JPY 5,000-13,000/t ($46-120) for carbon steel coils/sheets and square pipes. This was primarily to bridge the gap between domestic prices with international prices.
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