Indian DRI, billet & rebar update- 23rd Oct

The Indian secondary steel market has noticed a sharp hike in prices of around INR 100-600/t today, billet prices have shooted up by INR 100-600/t & sponge iron prices have gained by INR 200-500/t. Also, rebar prices rallied by INR 100-500/t in major markets.

Trades remain active & sufficient deals have been reported by industry sources & the producers based in central India.

Raw Material

• Silicon manganese trades assessed at INR 58,500/t exw Raipur.
  
  
• Karnataka based BMM Ispat offered raw pellets to INR 8,800/t exw (Up by INR 100/t).
  
  
• Bellary based sponge manufacturer booked 3,000 t Rb2 coal at INR 4,700/t exw from Krishnapatnam port.
  
  

Semi Finished

• Sponge P-DRI offers surge further in Raipur by INR 300/t to INR 20,700-20,900/t exw & sufficient deals reported by major plants at INR 20,600-20,800/t exw.
  
  
• Durgapur based Neo Metaliks has kept steel pig iron offers firm at INR 29,000/t exw.
  
  
• Jindal Steel is offering panther shots (granulated pig iron) at INR 27,400/t exw Angul, Odisha.
  
  
• Visa Steels offering steel grade pig iron at INR 27,500/t exw Jajpur (Up by INR 100/t).
  
  
• Rourkela based steel manufacturer sold around 1,000 t billet to Ghaziabad at INR 30,300/t exw and freight cost cited at INR 2,400/t via road.
  
  
• Chandrapur (Maharashtra) based manufacturers offered sponge P-DRI (FeM 80) at around INR 20,700/t exw.
  
  
• Bellary based A One Steel & alloys sold around 1,000 t billet at INR 32,500/t FoR Hyderabad.
  
  
• BMM Ispat increased offers by INR 200-300/t for FeM 80 P-DRI lumps to INR 20,100-20,200/t exw Bellary & around 3,500 t deals reported in nearby region.
  
  
• BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 20,200/t exw (Up by INR 200/t).
  
  

Rebar (12 mm)

• GK TMT is offering at INR 36,000/t exw Raipur (Up by INR 500/t).
  
  
• Shrishtii TMT offers reported at INR 33,900/t exw Raigarh (Up by INR 200/t).
  
  
• Century TMT increased offers by INR 200/t to INR 35,100/t exw Muzaffarnagar.
  
  
• Diamond TMT is offering at INR 38,200/t FoR Ahmedabad (Up by INR 300/t).
  
  
• Shree OM TMT increased offers by INR 400/t to INR 35,500/t exw Jalna.
  
  
• Shubhlabh TMT offers reported at INR 33,900/t exw Rourkela.
  
  
• A one Gold TMT offers reported at INR 36,900/t exw Bellary.
  
  
• ARS 550 D rebar offers stable at INR 38,300/t exw Chennai.
  
  

Wire Rod & Structure

• Trade discounts in Raipur wire rod remained firm at INR 800-1,000/t, however base price up by INR 300/t to INR 35,100/t exw. Also, Durgapur based plants have raised offers by INR 200/t to INR 34,000-34,500/t exw.
  
  
• Raipur based heavy structure manufacturers, increase the offer price by INR 200/t and maintained trade discount at INR 900-1,200/t, current trade price of 200 Angle stood at INR 37,700-38,100/t exw.
  
  

Reference prices as on 23rd Oct'20