Indian DRI, billet and rebar update - 9 Aug

Indian secondary steel market witness dull demand on 9 Aug'21 as prices declined by up to INR 700/tonne (t) ($9/t) d-o-d.

As per SteelMint assessment, Indian semi-finished (including sponge iron and billet) steel market declined in the range of INR 100-700/t with a major fall of INR 700/t seen in Mumbai's billets market. On the other hand, a slight hike of around INR 100/t was witnessed in Raipur's sponge market.

Induction furnace route re-bar prices, too, dropped by INR 100-400/t across the country. However, a marginal lifting of around INR 300/t in rebar was noticed in the Hyderabad market.

Semi finished

• Induction grade (IF) billet export offers drop to around $573-575/t, exw-Durgapur (equivalent to $600-605/t CPT Nepal).
  
  
• Neo Metaliks in Durgapur has reduced steel grade pig iron offers by INR 200/ to INR 39,000/t exw.
  
  
• Sponge P-DRI prices in Raipur rose by INR 100/t & sufficient deals reported at around INR 30,900-31,000/t exw & FoR Raipur.
  
  
• Jharsuguda, Odisha based sponge supplier offered FeM 79 P-DRI at around INR 30,900/t FoR Raipur.
  
  
• Hare Krishna concluded deals of FeM 79-80 P-DRI in local region at INR 29,200-29,300/t exw Bellary.
  
  

Rebar (12 mm)

• Metalics 550D TMT offers reported at INR 46,500/t exw Sambalpur.
  
  
• Rathi Stelmax TMT offers reported at INR 48,150/t exw Delhi/NCR.
  
  
• Century TMT is offering at INR 46,300/t exw Muzaffarnagar.
  
  
• Mono TMT offers stable at INR 50,200/t FoR Ahmedabad.
  
  
• Kalika TMT is offering at INR 48,500/t exw Jalna (Down by INR 400/t).
  
  
• ARS TMT(Fe 550D) offer reported at INR 52,100/t exw Chennai.
  
  

Wire rod and structure

• Mid scale mills wire rod export offers reported at $615-620/t exw Durgapur, equivalent to $645/t CPT Nepal, via road delivery.
  
  
• Trade reference wire rod prices in Raipur up by INR 100/t to INR 45,700-45,900/t exw, due to drop in trade discounts. However, assessment prices in Durgapur unchanged at INR 45,500-45,800/t exw.
  
  
• Heavy structural steel, base price of 150 mm channel stable at 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 49,200-49,600/t exw.
  
  

Reference prices as on 9th Aug'21