Indian DRI, billet and rebar update – 9 Dec

Indian secondary steel market remained fluctuated due to limited trades today.

As per SteelMint’s assessment, sponge iron prices have dropped by INR 100-300/t. Following the trend, billet prices fluctuated by INR 100-300/t in which a slight hike of INR 100/t was observed in Mumbai market.

In context to finished steel, rebar prices were little supportive and has seen an upward trend of INR 50-300/t in most of the locations, whereas a slight downfall of INR 100/t was notices in Mandi Gobindgarh.

Raw Material

• Karnataka based BMM Ispat offered raw pellets to INR 11,300-11,400/t exw Bellary.
• Singhal Steel, Raigarh based manufacturer has offered 60-14 silico manganese at INR 62,000/t exw.

Semi Finished

• Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 26,300/t & sponge mix material (60:40) at INR 26,000/t exw.
• Durgapur based Neo Metaliks has reported deals of over 500t steel grade pig iron at INR 33,300/t exw.
• Raipur based sponge P-DRI manufacturers have decreased offers by INR 200-300/t at INR 24,700-24,800/t exw.
• Ind Synergy (Raigarh) offered P-DRI at INR 24,400/t exw (Down by INR 100/t).
• Raigarh based Singhal Steel offered P-DRI at INR 24,400-24,500/t & billet at INR 35,100/t exw.
• Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 25,700/t & billet at INR 35,300/t exw Badtumkela.
• BIOP Steels in South India has kept offers unchanged 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 1,500 t deals reported in nearby region.

Rebar (12 mm)

• BS TMX TMT offers reported at INR 38,900/t exw Raigarh (Up by INR 200/t).
• Century TMT offers assessed at INR 39,600/t exw Muzaffarnagar.
• Vibrant TMT unchanged offers at INR 43,500/t FoR Ahmedabad.
• Polaad TMT is offering at INR 41,500/t exw Jalna (Up by INR 100/t).

Wire Rod and Structure

• Trade discounts in Raipur wire rod stood at INR 800-900/t and base offers unchanged at INR 40,700/t exw. Also, the reference price in Durgapur remained stable to INR 40,400-40,600/t exw.
• Raipur based heavy structure manufacturers, unchanged their base price at INR 39,800/t, and maintained trade discount at INR 600-900/t, current trade price of 200 Angle assessed at INR 41,800-42,200/t exw.

Reference prices as on 9th Dec’20