Indian DRI, billet & rebar update-18th Nov
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Indian secondary steel market has seen a slight price fluctuation today, sponge iron prices have noticed a variance of about INR 50-600/t in which Raigarh market has observed a downfall of INR 50-100/t.
Following the same trend, billet prices have moved up by INR 100-600/t except in Central region where prices fell by INR 150-350/t d-o-d.
In context to rebar, prices have increased by INR 200-900/t in the majority of the markets.
Raw Material
- BMM Ispat sold around 10,000 t pellets in nearby market at INR 11,000/t exw Bellary.
- Silicon manganese (60-14) trades reported at INR 59,000-59,500/t exw Raipur
Semi Finished
- Raipur based major PDRI makers kept offers at firm level, however indicative price reported at INR 25,400-25,500/t exw.
- Durgapur based Neo Metaliks has reported around 500 t steel grade pig iron deals at INR 30,600-30,700/t exw.
- Visa Steels concluded deals of around 500 t steel grade pig iron in local market at INR 30,000/t exw Jajpur.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 24,500/t exw Bellary (Up by INR 300/t).
- BMM Ispat increased offers by INR 600/t for FeM 80 P-DRI lumps to INR 24,700/t exw Bellary & around 1,500 t deals reported in nearby region.
Rebars (12 mm)
- GK TMT is offering at INR 40,300/t exw Raipur (Up by INR 500/t).
- Shrishtii TMT offers reported at INR 37,900/t exw Raigarh (Up by INR 400/t).
- Century TMT offers assessed at INR 38,300/t exw Muzaffarnagar (Up by 500/t).
- Mono TMT is offering at INR 40,400/t FoR Ahmedabad (Up by INR 300/t).
- Sangam TMT offers reported at INR 39,500/t exw Wardha.
- Polaad TMT is offering at INR 40,500/t exw Jalna (Up by INR 800/t).
- ARS 550 D offers reported at INR 41,300/t exw Chennai.
Structure
- Raipur based heavy structure manufacturers, maintained trade discount at INR 300-600/t, current trade price of 200 Angle ssessed at INR 41,400-41,700/t exw.
Reference prices as on 18th Nov'20
