Indian steel market remained more or less steady amid thin trade: KATM Exclusive

30 October 2017

Seemingly steady conditions prevailed at the steel markets around the country as the prices saw marginal fluctuations in the narrow range due to limited deals, which were also pegged at the previous levels. Adequate stocks position against sporadic demand from construction units mainly kept long steel prices steady.

Amongst steel prices, mainly billets saw some activity with prices showing some correction at Mandi Gobindgarh, which were reported around INR 28,600/MT (e-works) for 125×125 mm, IS 2831 material. Elsewhere, the billets were broadly stable besides at Chennai where prices saw some upside of INR 300/MT, with offers being reported at INR 28,600/MT (e-works) for 125×125 mm material.

In Odisha, Pooled iron & granulated Pig iron offers fell by about INR 500/MT. The fresh offers are reported – Pooled iron at INR 21,000-21,200/MT & granulated pig iron at INR 22,200-22,300/MT (ex-works).

Central India based integrated plants also increased sponge prices by INR 100/MT, P-DRI offers are at INR 15,700-15,800/MT & DR-CLO at INR 17,800-18,000/MT (ex-works). Odisha based medium size sponge manufacturers reported firm offers; FeM 80 C-DRI (70:30 mix material) at INR 16,000-16,100/MT (ex-works).