Indian DRI, billet & rebar update- 30th Oct

Today, Indian domestic sponge iron prices fell by INR 100-300/t. Whereas billet prices have seen a movement of INR 100-500/t in most of the locations on limited trade inquiries.

Following the trend, rebar prices also fell by INR 100-500/t, in which a major fall of INR 500/t was noticed in Hyderabad due to the holiday mood on account of Eid-e-Milad.

Raw Material

• BMM Ispat sold around 6,000 t pellets in nearby market at INR 9,000-9,100/t exw Bellary.
  
  
• Monnet Ispat sold around 150 t Silico Manganese (60-14) at INR 58,200-58,300/t exw, Raipur- Officials.
  
  

Semi Finished

• Raipur based sponge P-DRI producers have kept offers at firm level to INR 21,700-21,900/t exw & sufficient deals reported today.
  
  
• Rashmi Metaliks has reduce sponge P-DRI offers by INR 200/t to INR 21,500/t FoR Durgapur, as per participants.
  
  
• Visa Steels kept offers unchanged for steel grade pig iron at INR 28,200-28,300/t exw Jajpur.
  
  
• Ind Synergy (Raigarh) offered P-DRI at INR 20,600/t & billet at INR 31,000/t exw.
  
  
• Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 21,700/t & billet at INR 30,600/t exw Badtumkela.
  
  
• Hare Krishna has offered FeM 79-80 P-DRI at INR 21,300/t exw Bellary.
  
  
• BMM Ispat decreased offers by INR 100/t for FeM 80 P-DRI lumps to INR 21,000/t exw Bellary, however no major deals reported from officials.
  
  

Rebar (12 mm)

• BS TMX TMT kept offers unchanged at INR 34,100/t exw Raigarh.
  
  
• Rathi Stelmax TMT unaltered offers at INR 37,900/t exw Delhi/NCR.
  
  
• Century TMT is offering at INR 35,100/t exw Muzaffarnagar.
  
  
• Diamond TMT offers reported at INR 39,000/t FoR Ahmedabad.
  
  
• Kalika TMT unchanged their offer at INR 36,100/t exw Jalna.
  
  
• Shubhlabh TMT offers reported at INR 34,200/t exw Rourkela.
  
  

Wire Rod, Pipe & Structure

• Trade discounts in Raipur wire rod is slightly decline to INR 800-1,100/t by re-sellers, whereas mills are not offering any discounts as per mutual discussion today and base offers decreased by INR 500/t to INR 35,000/t exw. Meanwhile in Durgapur, the producers have kept offers stable at INR 35,400-35,700/t exw.
  
  
• Hari Om Pipe Industries Ltd has offered ERW Pipe at INR 42,900/t exw Hyderabad.
  
  
• Trade discount given by Raipur based heavy structure manufacturer is at INR 700-1,000/t, current trade price of 200 Angle stood at INR 38,100-38,400/t exw.
  
  

Reference prices as on 30th Oct'20