Indian DRI, billet & rebar update- 14th Oct

Indian secondary steel market remained on a positive note as prices went up today by INR 100-500/t in semis & finished long steel products.

As per SteelMint's assessment, sponge iron & rebar prices rallied by INR 200-500/t, while billet prices increased by INR 100-500/t across the majority of the markets.

The producers in central India reported active demand for billet specifically from the patra, wire rod & rebar mills.

Raw Material

• BMM Ispat located in Bellary, Karnataka sold around 10,000 t pellets in nearby market at INR 8,300/t exw.
  
  
• Bellary based sponge manufacturer booked 5,000 t Rb2 coal at INR 4,800/t exw from Krishnapatnam port.
  
  
• Silicon manganese (60-14) trades reported at INR 59,500-60,000/t exw Raigarh
  
  

Semi Finished

• Induction grade billet export offers hovering at $410/t exw Durgapur, equivalent to $435/t CPT Nepal, via road delivery.
  
  
• Raipur based sponge P-DRI manufacturers have further raised offers at INR 19,900-20,000/t, however majority of deals reported at INR 19,700-19,800/t & a couple of trades at INR 19,900/t exw.
  
  
• Ind Synergy (Raigarh) offered P-DRI at INR 19,600/t & billet at INR 30,100/t exw.
  
  
• Neo Metaliks in Durgapur has maintained pig iron price firm & reported steel grade at INR 28,000-28,200/t exw.
  
  
• Aloke Steel Industries (Jharkhand) offered Fem 80 P-DRI lumps at INR 19,500/t exw & around 1,000 t deals reported in nearby region.
  
  
• Visa Steels concluded deals of around 800 t steel grade pig iron to Jharkhand at INR 27,300-27,400/t exw Jajpur.
  
  
• Mahavir Ferro Alloys (Rourkela) sold around 500 t billet (100x100 mm) in local region at INR 30,000/t exw.
  
  
• Odisha based sponge supplier sold around 1,000 t FeM 80 C-DRI lumps to Jalna (Maharashtra) at around INR 23,000/t FoR Jalna.
  
  
• Rourkela based steel manufacturer sold around 1,000 t billet to Mandi Gobindgarh at INR 30,100/t exw and freight cost cited at INR 3,100/t via road.
  
  
• BMM Ispat increased offers by INR 300/t for FeM 80 P-DRI lumps to INR 19,400/t exw Bellary, however no major deals reported from officials.
  
  
• Hare Krishna has offered FeM 79-80 P-DRI at INR 19,500t exw Bellary (Up by INR 200-300/t).
  
  

Rebar (12 mm)

• GK TMT is offering at INR 35,600/t exw Raipur.
  
  
• Shrishtii TMT offers reported at INR 33,800/t exw Raigarh.
  
  
• Century TMT unchanged offers at INR 35,000/t exw Muzaffarnagar.
  
  
• Mono TMT kept offers stable at INR 35,600/t FoR Ahmedabad.
  
  
• Polaad TMT unaltered offers at INR 35,000/t exw Jalna.
  
  
• Shakambhari ispat (Thermocon TMT) offers reported at INR 33,000/t exw Purulia.
  
  
• A One Steel & Alloys sold around 1,500 t rebar (A One Gold) at INR 36,700/t exw Bellary in last two days.
  
  
• ARS 550 D kept rebar offer stable at INR 39,000/t exw Chennai.
  
  

Wire Rod & Structure

• Mid scale mill wire rod export offers remained strong & learned at around $460/t exw Durgapur, equivalent to $485/t CPT Nepal.
  
  
• Trade discounts in Raipur wire rod drop to INR 800-1,000/t, however base price remains firm at INR 34,600/t exw. Durgapur based plants further raised wire rod price by INR 300/t to INR 33,700-34,000/t exw.
  
  
• 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 14th Oct'20