Indian DRI, billet and rebar update - 12 Aug

The Indian secondary steel market continued to witness a rise in offers on 12 Aug'21, while prices too surged by up to INR 600/t ($9/t) d-o-d.

As per SteelMint assessment, semi-finished (including sponge iron and billet) steel prices gained by INR 100-600/t with a major increase of INR 500-600/t being observed in Bellary and Raipur's sponge iron markets.

Induction furnace route re-bar prices moved up by INR 100-500/t in the major markets with the maximum hike of INR 500/t seen in Rourkela.

Raw material

• Jharsuguda based pellet maker offered raw pellets at INR 14,000/t exw.
  
  
• A Chandrapur (Maharashtra) based sponge iron manufacturer booked raw pellet offers from Bellary at INR 14,600/t FoR.
  
  

Semi finished

• Neo Metaliks in Durgapur has slightly increased steel grade pig iron price by INR 200/t to INR 39,000/t exw & few trades reported by officials.
  
  
• Sponge P-DRI prices in Raipur rose by INR 500-600/t & healthy deals reported at around INR 31,800-31,900/t exw & FoR Raipur.
  
  
• Jharsuguda, Odisha based sponge supplier offered FeM 80 P-DRI at around INR 31,900-32,000/t FoR Raipur.
  
  
• Jharkhand based manufacturer concluded 1,200 t billet deal at around INR 43,300/t exw Ramgarh.
  
  
• Mahavir Ferro Alloys sold around 500 t sponge iron lumps at INR 33,000/t exw Rourkela.
  
  
• BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 31,400/t exw Bellary. However no deals reported from officials.
  
  

Rebar (12 mm)

• GK TMT(Fe 500D) is offering at INR 48,100/t exw Raipur (Up by INR 300/t).
  
  
• Shrishtii TMT offers reported at INR 46,800/t exw Raigarh (Up by INR 200/t).
  
  
• Swarup TMT is offering at INR 46,700/t exw Muzaffarnagar (Up by INR 100/t).
  
  
• Mono TMT is offering at INR 50,100/t FoR Ahmedabad (Up by INR 200/t).
  
  
• Polaad TMT offers stable at INR 49,000/t exw Jalna.
  
  
• CPC Durgapur TMT offers reported at INR 45,300/t eww Durgapur.
  
  
• ARS TMT(Fe 550D) offers stable at INR 52,100/t exw Chennai.
  
  

Wire rod and structure

• Raigarh based Singhal Steel concluded around 800 t deals of wire rod at INR 45,800/t exw.
  
  
• Trade reference wire rod prices in Raipur gained by INR 300/t to INR 46,300-46,600/t exw. Also, assessment prices in Durgapur rose by INR 200/t to INR 46,000-46,200/t exw.
  
  
• Heavy structural steel, base price of 150 mm channel increase by INR 500/t to INR 48,000/t in Raipur with firm trade discount of INR 800-1,000/t. Trade reference price of 200 mm angle is at INR 49,800-50,200/t exw.
  
  

Reference prices as on 12th Aug'21