Indian DRI, billet and rebar update – 17 Dec

Indian spot trades for semi-finished and finished steel today remained supportive. Billet prices have increased by INR 200-800/t. Following the trend, rebar prices rallied by INR 300-1,600/t. A sharp hike of INR 1,400-1,600/t d-o-d was registered in Delhi & Goa.

Participants in central & eastern India said, demand remains active and there is no selling pressure among mills amidst maintained production levels, hence prices are increasing continuously.

In context to sponge iron, prices have increased by INR 100-550/t with a spike of INR 300-550/t in the southern region (Bellary & Hyderabad).

Raw Material

• BMM Ispat sold around 5,000 t pellets in nearby market at INR 12,000/t exw Bellary.
• Singhal Steel, Raigarh based manufacturer has offered 60-14 silico manganese at INR 64,000/t exw.

Semi Finished

• Induction grade billet export offers increased by $5/t to $510-512/t exw Durgapur, equivalent to $535/t CPT Nepal.
• Indian sponge iron (lumps) export offers to Bangladesh increased further by $5/t to $390/t CPT Benapole (equivalent to $405/t CFR Chittagong).
• Raipur based sponge makers have kept P-DRI offers stable at INR 25,500-25,600/t exw & sold good volumes, as per participants.
• Raigarh based Singhal Steel offered billet at INR 37,200/t exw (Up by INR 400/t).
• Ind Synergy (Raigarh) offered P-DRI at INR 25,000/t & billet at INR 37,200/t exw.
• Visa Steels offering steel grade pig iron at INR 33,500/t exw Jajpur (Up by INR 300/t).
• Hare Krishna has offered FeM 79-80 P-DRI at INR 26,800/t exw Bellary.
• BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 27,000/t exw Bellary (Up by INR 300/t).

Rebar (12 mm)

• GK TMT is offering at INR 44,400/t exw Raipur (Up by INR 700/t).
• Shrishtii TMT offers reported at INR 41,800/t exw Raigarh (Up by INR 800/t).
• Paras TMT offers assessed at INR 41,300/t exw Muzaffarnagar (Up by INR 500/t).
• Mono TMT is offering at INR 46,850/t FoR Ahmedabad (Up by INR 500/t).
• Polaad TMT is offering at INR 45,900/t exw Jalna (Up by INR 1,200/t).
• Tirumala TMT 550 Fe offers at INR 47,500/t exw Chennai.
• ARS 550 D offers reported at INR 47,300/t exw Chennai.

Wire Rod and Structure

• Mid scale mills wire rod export offers up by $5-7/t to around $575-578/t exw Durgapur, equivalent to $600-605/t CPT Nepal, for commercial grade.
• Trade discounts in Raipur wire rod is hovering at INR 1,000/t, meanwhile base offers unchanged at INR 42,300/t exw. However in Durgapur plants raised offer by INR 500-700/t to INR 42,500-42,700/t exw.
• Raipur based heavy structure manufacturers, increase the base price by INR 300/t to INR 41,300/t, and given trade discount by INR 500-800/t, current trade price of 200 Angle is at INR 43,400-43,800/t exw.

Reference prices as on 17th Dec’20