Indian DRI, billet & rebar update- 3rd Nov

The Indian secondary steel prices increased further by INR 50-1,000/t today. As pe SteelMint’s assessment Indian billet prices have railed by INR 50-1,000/t & sponge iron prices increased by INR 100-300/t in major markets. Also, rebar prices shoted up by INR 200-800/t in which a major hike was registered in southern region (Chennai).

Raw Material

• BMM Ispat sold around 8,000 t pellets in nearby market at INR 9,200/t exw Bellary.
• Monnet Ispat sold around 150 t Silico Manganese (60-14) at INR 58,100/t exw, Raipur- Officials.

Semi Finished

• Raipur based sponge P-DRI manufacturers have increased offers by INR 200/t at INR 22,300-22,400/t exw.
• Monnet Ispat has offered sponge P-DRI at INR 22,200/t exw Raipur.
• Durgapur based Neo Metaliks has reported steel grade pig iron deals at INR 30,300/t exw (Up by INR 500/t).
• Visa Steels concluded deals of around 500 t steel grade pig iron to Durgapur at INR 28,500/t exw Jajpur.
• Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 22,400/t & billet at INR 31,500/t exw Badtumkela.
• BMM Ispat increased offers by INR 200-300/t for FeM 80 P-DRI lumps to INR 21,400-21,500/t exw Bellary & around 4,500 t deals reported in nearby region.

Rebar (12 mm)

• GK TMT is offering at INR 37,400/t exw Raipur (Up by INR 400/t).
• BS TMX TMT kept offers unchanged at INR 35,000/t exw Raigarh (Up by INR 500/t).
• Centry TMT unchanged offers at INR 35,900/t exw Muzaffarnagar.
• Kalika TMT is offering at INR 36,900/t exw Jalna (Up by INR 400/t).
• Vibrant TMT offers reported at INR 39,100/t FoR Ahmedabad (Up by INR 400/t).
• ARS 550 D offers reported at INR 39,300/t exw Chennai.

Wire Rod & Structure

• Trade discounts in Raipur wire rod hovering at INR 300-400/t stable against previous day to INR 35,700/t exw. Meanwhile in Durgapur, the producers have kept offers stable at INR 36,000-36,200/t exw.
• Raipur based heavy structure manufacturers, increase the base price by INR 600/t and maintained trade discount at INR 700-900/t, current trade price of 200 Angle stood at INR 39,000-39,300/t exw.

Reference prices as on 3rd Nov’20