Indian DRI, billet & rebar update- 20th Oct

The Indian secondary steel market sentiments continued to remain positive today. As per the assessment, billet prices have noticed an upward trend of around INR 100-400/t in major markets, although Rourkela & Chennai markets have seen a slight downfall of INR 150-200/t. Also, sponge iron prices gained by INR 50-200/t, d-o-d.

In context to finished steel, rebar prices have registered a hike of INR 100-800/t, where the major hike was noticed in Ahmedabad (Gujarat) by INR 800/t due to temporary supply shortage as a couple of major brands have put their rolling mill on maintenance shutdown.

Raw Material

• Karnataka based BMM Ispat kept offers unaltered for raw pellets to INR 8,500/t exw.
  
  
• Silicon manganese (60-14) trades reported at INR 58,500-59,000/t exw Raigarh.
  
  

Semi Finished

• Induction grade billet export offers stable at $405-407/t exw Durgapur, equivalent to $430-433/t CPT Nepal, via road delivery.
  
  
• Raipur based sponge P-DRI manufacturers have further raised offers by INR 300/t to INR 20,200-20,300/t exw, however no major deals reported.
  
  
• Neo Metaliks in Durgapur has increased steel grade pig iron price by INR 500/t to INR 28,500/t exw. Temporary supply shortage has resulted a sharp surge in prices, as per officials.
  
  
• Jajpur, Odisha based sponge manufacturer sold around 1,000 t C-DRI mix material to Mandi Gobindgarh at INR 19,900/t exw and freight cost cited at INR 3,200/t via road.
  
  
• Ind Synergy (Raigarh) offered billet at INR 30,100/t exw (Up by INR 200/t).
  
  
• Visa Steels kept offers unchanged for steel grade pig iron at INR 27,300/t exw Jajpur.
  
  
• BMM Ispat has kept offers unaltered for FeM 80 P-DRI lumps at INR 19,700/t exw Bellary & around 4,000 t deals reported in nearby region.
  
  
• BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 19,800/t exw & around 1,000 t deals reported by official.
  
  

Rebar (12 mm)

• GK TMT is offering at INR 35,500/t exw Raipur.
  
  
• Shrishtii TMT offers reported at INR 34,000/t exw Raigarh (Up by INR 400/t).
  
  
• Rathi Stelmax TMT unchanged offers at INR 36,800/t exw Delhi/NCR.
  
  
• Sangam TMT has kept offers at INR 33,000/t exw Wardha.
  
  
• Diamond TMT is offering at INR 37,900/t FoR Ahmedabad (Up by INR 1,400/t).
  
  
• Kalika TMT increased offers at INR 34,900/t exw Jalna (Up by INR 200/t).
  
  
• ARS 550 D has unaltered offers at INR 38,300/t exw Chennai.
  
  

Wire Rod & Structure

• Mid scale mills wire rod export offers hovering at $453-455/t exw Durgapur, equivalent to $480/t CPT Nepal.
  
  
• Trade discounts in Raipur wire rod up by INR 200/t to INR 1,000-1,200/t, also base price increased by INR 300/t to INR 34,600/t exw. Durgapur based plants have kept offers at INR 33,400-33,800/t exw.
  
  
• Raipur based heavy structure manufacturers increase the offer price by INR 300/t and given trade discount by INR 900-1,200/t, current trade price of 200 Angle stands at INR 37,100-37,500/t exw.
  
  

Reference prices as on 20th Oct'20