Indian DRI, billet & rebar update-20th Nov

Indian spot steel prices remained volatile on account of moderate demand. As per daily assessment, the sponge iron market has observed a price change of INR 100-200/t with slight fall being noticed in the central region (Raigarh).

In addition to it, billet prices have fluctuated by INR 50-300/t, except in the southern India where prices were supportive by INR 500/t d-o-d. In context to rebar, prices have increased by INR 100-500/t in the majority of the markets.

Raw Material

• BMM Ispat sold around 5,000 t pellets in nearby market at INR 11,100/t exw Bellary.
  
  

Semi Finished

• Induction grade billet export offers slightly up at $470-475/t exw Durgapur, equivalent to $495-500/t CPT Nepal.
  
  
• Indian sponge iron export offers to Bangladesh are hovering at $360/t CPT Benapole, equivalent to $375/t CFR Chittagong.
  
  
• Rashmi Metaliks has kept sponge P-DRI offers stable at INR 25,000/t FoR Durgapur, as per market sources.
  
  
• Raipur based sponge producers have maintained P-DRI offers at INR 25,400-25,500/t exw. Limited inquiries reported by participants.
  
  
• Singhal Steel increased billet offers by INR 200/t to INR 35,000/t exw Raigarh.
  
  
• Ind Synergy (Raigarh) offered billet at INR 35,100/t exw (Up by INR 100-200/t).
  
  
• Raigarh based BS Sponge offered P-DRI at INR 24,500/t & Billet at INR 35,000/t exw.
  
  
• Visa Steels offering steel grade pig iron at INR 30,200/t exw Jajpur.
  
  
• Jajpur, Odisha based sponge manufacturer sold around 1,000 t C-DRI mix material to Mandi Gobindgarh at INR 24,700-24,800/t exw and freight cost cited at INR 3,200/t via road.
  
  
• Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 25,100-25,200/t & billet at INR 34,400/t exw Badtumkela.
  
  
• BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 24,500/t exw Bellary.
  
  
• BMM Ispat increased offers by INR 100/t for FeM 80 P-DRI lumps to INR 24,700/t exw Bellary & around 2,400 t deals reported in nearby region.
  
  

Rebar (12 mm)

• Shrishtii TMT offers reported at INR 37,800/t exw Raigarh (Up by INR 200/t).
  
  
• Century TMT offers assessed at INR 38,700/t exw Muzaffarnagar (Up by INR 500/t).
  
  
• Rathi Stelmax TMT is offering at INR 41,100/t exw Delhi/NCR (Up by INR 500/t).
  
  
• Mono TMT is offering at INR 40,800/t FoR Ahmedabad (Up by INR 300/t).
  
  
• Polaad TMT unchanged their offer at INR 40,500/t exw Jalna.
  
  
• ARS 550 D offers reported at INR 42,200/t exw Chennai.
  
  

Wire Rod & Structure

• Mid scale mills wire rod export offers reported at $530/t exw Durgapur, equivalent to $555/t CPT Nepal, via road delivery.
  
  
• Trade discounts in Raipur wire rod increases by INR 400/t to INR 1,000-1,200/t, however base offers unchanged at INR 39,300/t exw. Although, trade reference price in Durgapur rose by INR 200/t to INR 39,200-39,500/t exw.
  
  
• Raipur based heavy structure manufacturers, kept stable their base price at INR 39,000/t exw, and given trade discount by INR 400-700/t, current trade price of 200 Angle assessed at INR 41,200-41,600/t exw.
  
  

Reference prices as on 20th Nov'20