Indian DRI, billet & rebar update-13th Nov

Indian secondary steel market has noticed a further increase in prices of around INR 100-700/t today. As per daily assessment, sponge iron prices rallied by INR 100-700/t, billet prices moved up by INR 200-500/t and rebar prices by INR 100-600/t in the majority of the markets.

Industry sources believe that prices may remain supported on active demand & tight supply of raw materials.

Raw Material

• Karnataka based BMM Ispat offered raw pellets to INR 10,300/t exw (Up by INR 300/t).

Semi Finished

• Raipur based sponge producers have further raised P-DRI offers by INR 600-700/t to INR 24,000-24,200/t & few deals learned at INR 23,900-24,100/t exw.
• Neo Metaliks in Durgapur has reduced steel grade pig iron price by INR 200/t to INR 30,300/t exw & about 500 t deals reported today.
• Visa Steels offered FeM 80 sponge C-DRI (mix material) at INR 23,400/t exw Jajpur.
• BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 23,200/t exw Bellary (Up by INR 400/t).
• BMM Ispat increased offers by INR 600/t for FeM 80 P-DRI lumps to INR 23,300/t exw Bellary & around 2,500 t deals reported in nearby region.

Rebar (12 mm)

• GK TMT is offering at INR 38,600/t exw Raipur (Up by INR 600/t).
• Shrishtii TMT offers reported at INR 36,500/t exw Raigarh (Up by INR 300/t).
• Century TMT offers assessed at INR 36,600/t exw Muzaffarnagar (Up by INR 200/t).
• Rathi Stelmax TMT is offering at INR 39,100/t exw Delhi/NCR (Up by INR 300/t).
• Mono TMT is offering at INR 39,900/t FoR Ahmedabad (Up by INR 300/t).
• Kalika TMT offers assesed at INR 38,900/t exw Jalna (Up by INR 200/t).

Wire Rod & Structure

• Trade discounts in Raipur wire rod stable at INR 400-600/t, however base offers further up by INR 500/t to INR 37,500/t exw. Also, offers in Durgapur up by INR 100-200/t to INR 37,500-38,000/t exw.
• Raipur based heavy structure manufacturers, increase the base price by INR 1,000/t and maintained trade discount at INR 400-700/t, current trade price of 200 Angle assessed at INR 40,200-40,600/t exw.

Reference prices as on 13th Nov’20