Indian DRI, billet and rebar update - 17 Aug

The Indian secondary steel market remained volatile on 17 Aug'21 following subdued demand in the billet market. Overall, prices of semis and finished steel products fluctuated in the range of INR 100-500/t, d-o-d.

As per SteelMint assessment, the Indian sponge iron market remained almost stable across the country; however, a rise in offers by around INR 200-300/t was witnessed in Rourkela, Mandi Gobindgarh and Bellary. At the same time, domestic billet prices fluctuated by INR 100-500/t in many locations.

Induction furnace route re-bar offers increased by INR 100-200/t in most locations, except Bangalore where prices dropped slightly by 100/t.

Semi finished

• Induction grade (IF) billet export offers slightly drop to around $585-590/t, exw-Durgapur (equivalent to $615/t CPT Nepal).
  
  
• Neo Metaliks in Durgapur has kept steel grade pig iron offers stable at INR 39,500/t exw.
  
  
• Sponge P-DRI prices in Raipur unchanged at INR 31,900-32,000/t & deals reported by participants on exw & FoR Raipur basis.
  
  
• Jharsuguda, Odisha based sponge supplier offered FeM 80 P-DRI at around INR 31,900/t FoR Raipur.
  
  
• Raigarh based steel manufacturers getting pig iron offers from Odisha at INR 39,300/t FoR Raigarh.
  
  

Rebar (12 mm)

• GK TMT(Fe 500D) is offering at INR 48,500/t exw Raipur (Up by INR 200/t).
  
  
• Shrishtii TMT offers reported at INR 46,000/t exw Raigarh (Down by INR 200/t).
  
  
• Rathi Stelmax TMT offers stable at INR 49,250/t exw Delhi/NCR.
  
  
• Swarup TMT is offering at INR 47,400/t exw Muzaffarnagar (Down by INR 200/t).
  
  
• Mono TMT offers stable at INR 50,250/t FoR Ahmedabad.
  
  
• Kalika TMT offers unchanged at INR 49,500/t exw Jalna.
  
  
• ARS TMT(Fe 550D) offers stable at INR 52,100/t exw Chennai.
  
  

Wire rod and structure

• Mid scale mills wire rod export offers unchanged at around $630/t exw Durgapur, equivalent to $655-660/t CPT Nepal, via road delivery.
  
  
• Trade reference wire rod prices in Raipur rose by INR 200/t to INR 46,700-46,900/t exw, due to increase in base offers. Also, assessment prices in Durgapur increased slightly to INR 46,700-46,800/t exw.
  
  
• Heavy structural steel, base price of 150 mm channel increase by INR 200/t to INR 48,200/t in Raipur with firm trade discount of INR 900-1,200/t. Trade reference price of 200 mm angle is at INR 49,900-50,300/t exw.