Vizag Steel, a state owned steel maker with an annual capacity of 6.3 MnT, has increased its Steel prices from INR 1,200- 2,500/MT (USD 18-37) w.e.f 30 Sep’16.
Prices have increased due to rising coking coal prices and export orders. Notably, coking coal prices have increased significantly by 35% in last 4 weeks.
Rebars: Upto INR 2,000
Structurals: Upto 1,500
Billet/Bloom: Upto 2,000
Wire Rod: Upto 1,250
A steel re-roller based in Hyderabad confirmed that prices have gone up and bloom (150*150 mm) is being offered at INR 24,100/MT delivered to Hyderabad by Vizag Steel. Freight from Vizag to Hyderabad is about INR 1,500/MT, which make ex-works prices at around INR 22,600/MT.
The company has recently concluded an export tender of 10,000 MT billet (90*90mm) at USD 333/MT, FoB and 20,000 MT bloom (150*150mm) at USD 335/MT, FoB Vizag Port.
Vizag Steel’s 100,000 MT bloom tender received bids at USD 370/MT, FoB Vizag (East Coast India) from two participants, each for consignment of 20,000 MT bloom. The consignment is likely to be shipped to Bangladesh. The company will receive ex-plant realization of around INR 23,000/MT.
Last offers for 165×165 mm bloom from JSW were heard at INR 26,500/MT ex-yard in Hyderabad. While, other mid-sized and small billet manufacturers were offering small sized (100*100, 120*120 mm) billet at INR 27,100/MT (advance payment).
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