Indian DRI, billet and re-bar update - 25 Aug

Spot trading in the Indian secondary steel market remained subdued on 25 Aug'21. Prices through the mid-sized mills fluctuated in the range of INR 100-300/t, d-o-d.

As per SteelMint assessment, Indian sponge iron offers dropped by INR 100-300/t except Durgapur where prices increased marginally by INR 100/t. Also, domestic billet market noticed volatility in prices in the range of INR 100-300/t across the country.

In addition, induction furnace (IF) route re-bar prices moved up by INR 100-200/t in many regions with a major hike of around INR 200/t witnessed in Raipur and Durgapur.

Semi finished

• Induction grade (IF) billet export offers remain stable at $565-568/t, exw-Durgapur (equivalent to $595/t CPT Nepal).
  
  
• Neo Metaliks in Durgapur has reduced steel grade pig iron offers by INR 200/t to INR 39,000/t exw.
  
  
• Sponge P-DRI offers in Raipur drop by INR 100/t & deals reported at INR 30,000-30,200/t on exw Raipur basis.
  
  
• Brahmaputra Metallics Limited offered billet at INR 42,700/t and sponge P-DRI at 29,800/t exw Ramgarh.
  
  

Re-bar (12 mm)

• GK TMT(Fe 500D) is offering at INR 47,200/t exw Raipur (Down by INR 300/t).
  
  
• Rathi Stelmax TMT offers stable at INR 48,250/t exw Delhi/NCR.
  
  
• Century TMT offers unaltered at INR 46,500/t exw Muzaffarnagar.
  
  
• Mono TMT is offering at INR 50,000/t FoR Ahmedabad (Up by INR 200/t).
  
  
• Polaad TMT offers stable at INR 49,000/t exw Jalna.
  
  
• Jai Kapeesh TMT offers unchanged at INR 44,500/t exw Durgapur.
  
  
• ARS TMT(Fe 550D) offers reported at INR 50,100/t exw Chennai.
  
  

Wire rod and structure

• Mid scale mills wire rod export offers stable at around $605-610/t exw Durgapur, equivalent to $635/t CPT Nepal, via road delivery.
  
  
• Trade reference wire rod prices in Durgapur rose by INR 200/t to INR 44,600-44,800/t exw.
  
  
• Heavy structural steel, base price of 150 mm channel decrease by INR 500/t to INR 47,500/t in Raipur with firm trade discount of INR 800-1,100/t. Trade reference price of 200 mm angle is at INR 49,300-49,700/t exw.