Iron and steel prices record marginal upsides in the week: KATM Exclusive

20 November 2017

During the week, the sponge iron prices recorded marginal hikes in the week, due to improved demand from the buyers. At Durgapur, C-DRI offers were trading around INR 18,100/MT ex-works (Mix, FeM 78%, +/-1), while P-DRI offers were reported at INR 17,200/MT ex-works (FeM 78%, +/-1), up by about INR 100/MT.

Similarly, the semi steel saw some uptick this week, with prices moving up by INR 100-300/MT, buoyed by some interest from the buyers. In northern India at Mandi Gobindgarh, the offers were reported around INR 30,000/MT ex-works for 125×125 mm, IS 2831 material. In Eastern region, the offers were reported around INR 27,600/MT ex-works, at Durgapur.

However, the pig iron prices saw some corrections in the eastern part of India due to limited inquiries, while elsewhere the offers were firm owing to low availability amid supported demand. The offers for steel grade pig iron in East India were reported at INR 23,300-23,500/MT (ex-works) in Durgapur and Bokaro.

Moving onto finished steel, there was not much activity in the long steel market as prices continued to move in a narrow range of INR 100-200/MT, that too in the limited deals. Scattered enquiries from construction units against sufficient stocks position mainly kept steel prices steady.