Indian DRI, billet & rebar update- 6th Nov

Indian secondary steel market has recorded decline in prices today on limited inquiries. Sponge iron prices have seen a fall of INR 100-200/t  in majority of the markets except in south India (Bellary) & billet prices fall by INR 100-500/t.

In addition to that rebar prices have notices a fluctuation of around INR 100-300/t in many regions.

Raw Material

• Karnataka based BMM Ispat offered raw pellets to INR 9,800/t exw (Up by INR 200/t).

Semi Finished

• Raipur based sponge P-DRI producers have kept offers at firm level to INR 22,800-23,000/t exw & sufficient deals reported today.
• Singhal Steel decreased billet offers by INR 200-300/t to INR 32,700/t exw Raigarh.
• Durgapur based Neo Metaliks has reported around 500 t steel grade pig iron deals at INR 30,600/t exw.
• Visa Steels offering steel grade pig iron at INR 29,500/t exw Jajpur (Up by INR 300/t).
• Mahavir Ferro Alloys sold around 500 t billet (100×100 mm) at INR 32,500/t exw Rourkela.
• Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 23,100/t & billet at INR 32,200/t exw Badtumkela.
• Shri Hari Sponge offered FeM 80 sponge C-DRI (mix material) at INR 22,800/t exw Rourkela.
• BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 22,400/t exw Bellary (Up by INR 400/t).
• BMM Ispat has kept offers unaltered for FeM 80 P-DRI lumps at INR 22,000/t exw Bellary.

Rebars (12 mm)

• Shrishtii TMT offers reported at INR 35,800/t exw Raigarh (Down by INR 200/t).
• Rathi Stelmax TMT kept offers stable at INR 38,800/t exw Delhi/NCR.
• Century TMT is offering at 36,400/t exw Muzaffarnagar (Down by INR 100/t).
• Vinayak TMT offers reported at INR 39,300/t FoR Ahmedabad.
• Polaad TMT is offering at INR 37,700/t exw Jalna (Up by INR 400/t).
• ARS 550 D offers reported at INR 40,200/t exw Chennai.

Wire Rod & Structure

• Trade discounts in Raipur wire rod have slightly increased by INR 200-300 to INR 600-800/t, however base offers remained stable to INR 36,800/t exw. Meanwhile in Durgapur, wire rod offers have fluctuated by INR 200-300/t to INR 37,000-37,200/t exw.
• Trade discount given by Raipur based heavy structure manufacturer is at INR 800-1,100/t, current trade price of 200 Angle stood at INR 39,400-39,800/t exw.

Reference prices as on 6th Nov’20