Indian DRI, billet and rebar update – 7 Dec

Indian spot steel trades continued to remain supported and the prices have increased upto INR 900/t ($12), today.

As per daily assessment, sponge iron prices rallied by INR 100-500/t & billet prices have moved up by INR 100-900/t, similarly rebar prices surged by INR 100-700/t in which a sharp hike of around INR 500-700/t was registered in North, West & Central region.

Raw Material 

• BMM Ispat sold around 5,000 t pellets in nearby market at INR 11,300/t exw Bellary.
• Singhal Steel, Raigarh based manufacturer has offered 60-14 silico manganese at INR 61,500/t exw.

Semi Finished

• Raipur based sponge P-DRI producers have kept offers at firm level to INR 25,000-25,200/t exw & sufficient deals reported today.
• Durgapur based Neo Metaliks has reported around 500 t steel grade pig iron deals at INR 32,800/t exw.
• Raigarh based Singhal Steel offered P-DRI at INR 24,700/t & billet at INR 35,400-35,500/t exw.
• Ind Synergy (Raigarh) offered P-DRI at INR 24,600/t exw (Up by INR 100/t).
• Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 25,800/t & billet at INR 35,200/t exw Badtumkela.
• Chandrapur (Maharashtra) based manufacturers offered sponge P-DRI (FeM 80) at around INR 25,000-25,200/t exw.
• BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 25,700/t exw Bellary.
• BMM Ispat has kept offers unaltered for FeM 80 P-DRI lumps at INR 25,500/t exw Bellary & around 7,000 t deals reported in nearby region.

Rebar (12 mm)

• BS TMX TMT offers reported at INR 38,700/t exw Raigarh (Up by INR 200/t).
• Century TMT offers assessed at INR 39,600/t exw Muzaffarnagar.
• Kalika TMT kept offer stable at INR 41,300/t exw Jalna.
• ARS 550 D offers reported at INR 45,300/t exw Chennai.

Wire Rod and Structure

• Trade discounts in Raipur wire rod marginally down by INR 300-400/t to INR 500-700/t and base offers increased by INR 300/t to INR 40,500/t exw. Also, offers in Durgapur moved up by INR 300/t to at INR 40,000-40,400/t exw.
• Raipur based heavy structure manufacturers reduce their base price by INR 300/t to INR 39,800/t, and maintained trade discount at INR 700-800/t, current trade price of 200 Angle assessed at INR 42,000-42,400/t exw.

Reference prices as on 7th Dec’20