Indian DRI, billet & rebar update- 15th Sep

The Indian secondary steel market has observed volatility in prices today. Sponge iron prices fluctuated by INR 100-300/t in major markets.

Whereas billet prices have increased by INR 100-500/t in most of the locations, following which rebar prices also moved up by INR 100-400/t in the majority of the markets, however, it declined by INR 100-500/t in west and south rgions.

The producers in central India, Raipur reported a boost in demand in both sponge iron & billet, following which the prices rebound on day trades by INR 200/t, d-o-d.

Raw Material

• Silicon Manganese (60-14) offers in Raipur is assessed at around INR 60,500/t exw.
  
  
• Singhal Steel, Raigarh based manufacturer has offered 60-14 silico manganese at INR 60,000/t exw.
  
  

Semi Finished

• Induction grade billet export offers increased by $5-7/t to $410/t exw Durgapur, equivalent to $435/t CPT Nepal, via road delivery.
  
  
• Raipur based sponge manufacturers have increased P-DRI offers by INR 200/t to INR 19,000-19,200/t exw & about 7,000-8,000 t deals reported by 4-5 major plants.
  
  
• Ind Synergy (Raigarh) offered P-DRI at INR 19,000/t & billet at INR 29,200/t exw.
  
  
• Neo Metaliks in Durgapur has offered steel grade pig iron at INR 28,700-28,800/t exw.
  
  
• Visa Steels kept offers unchanged for steel grade pig iron at INR 27,400-27,500/t exw Jajpur.
  
  
• Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered billet at INR 29,200/t exw.
  
  
• BMM Ispat decreased offers by INR 200/t for FeM 80 P-DRI lumps to INR 18,600-18,700/t exw Bellary.
  
  

Rebar (12 mm)

• Jalna based Gajkesari TMT is offering at INR 33,500/t exw and sold around 1,000 t rebar in near by market.
  
  
• GK TMT offers unchanged at INR 34,600/t exw Raipur.
  
  
• Shrishtii TMT offers reported at INR 33,100/t exw Raigarh (Up by INR 400/t).
  
  
• Rathi Stelmax TMT offers stable at INR 36,100 exw Delhi/NCR.
  
  
• Swarup TMT kept offers at INR 34,400/t exw Muzaffarnagar (Up by INR 400/t).
  
  
• Mono TMT is offering at INR 34,700 FoR Ahmedabad (Down by INR 500/t).
  
  
• German TMX offers down by INR 500/t to INR 35,500/t FoR Ahmedabad.
  
  
• Kalika TMT is offering at INR 33,700 exw Jalna (Up by INR 200/t).
  
  

Wire Rod, Pipe & Structure

• Mid scale mills wire rod export offers unchanged at around $443-445/t exw Durgapur, equivalent to $470/t CPT Nepal.
  
  
• Trade discounts in Raipur wire rod drop by INR 500/t to INR 700-900/t, however base firm at INR 33,800/t exw. Also, in Durgapur trade reference price went up by INR 300/t to INR 32,700-33,000/t exw.
  
  
• Hyderabad (South India) based manufacturer Hari Om Pipe Industries Ltd has offered ERW Pipe at INR 40,200/t exw.
  
  
• Trade discount given by Raipur based heavy structure manufacturers is at INR 700 -1,000/t and trade price of 200 Angle is at INR 35,900-36,200/t exw.
  
  

Reference prices as on 15th Sep'20