Indian DRI, billet & rebar update- 13th Oct

Indian secondary steel market increased further by INR 50-600/t today. As per SteelMint's assessment sponge iron prices have increased by INR 50-200/t, following which billet prices also moved up by INR 100-600/t in major markets.

In the context to finished steel, the rebar market registered a price rise of INR 100-600/t in all the locations.

Raw Material

• Silicon manganese (60-14) trades reported at INR 59,000-59,500/t exw Raipur.
  
  

Semi Finished

• Raipur based sponge P-DRI manufacturers have kept offers firm at INR 19,600-19,700/t, however inquiries remained at less price range of INR 19,400-19,500/t exw.
  
  
• Ind Synergy (Raigarh) offered P-DRI at INR 19,200/t & billet at INR 29,900/t exw.
  
  
• Visa Steels offered FeM 80 sponge C-DRI (mix material) at INR 19,800-19,900/t exw Jajpur.
  
  
• Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 20,000/t exw.
  
  
• Rourkela based steel manufacturer sold around 1,000 t billet to Ghaziabad at INR 29,600/t exw and freight cost cited at INR 2,400/t via road.
  
  
  
• BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 19,300/t exw Bellary.
  
  
• BMM Ispat increased offers by INR 200-300/t for FeM 80 P-DRI lumps to INR 19,100/t exw Bellary & around 1,500 t deals reported in nearby region.
  
  

Rebar (12 mm)

• Shrishtii TMT offers reported at INR 33,800/t exw Raigarh (Up by INR 300/t).
  
  
• Century TMT is offering at INR 34,900/t exw Muzaffarnagar (Up by INR 100/t).
  
  
• Mono TMT is offers at INR 35,600/t FoR Ahmedabad (Up by INR 300/t).
  
  
• Kalika TMT kept offers at INR 34,900/t exw Jalna (Up by INR 200/t).
  
  
• Sangam TMT is offering rebar at INR 33,000/t exw Wardha.
  
  

Wire Rod, Pipe & Structure

• Trade discount given by Raipur based heavy structure manufacturers is at INR 700-1,000/t, and the current trade price of 200 Angle stood at INR 36,900-37,300/t exw.
  
  

Reference prices as on 13th Oct'20