Indian DRI, billet and rebar update – 27 Jul

The Indian secondary steel market witnessed mixed trends on 27 Jul’21 even as prices fluctuated in the range of INR 100-400/t d-o-d.

As per SteelMint assessment, Indian semi-finished steel (sponge iron and billet) prices fluctuated within INR 100-400/t across markets in the country. The induction furnace rebar market recorded mixed trends as prices fluctuated by around INR 100-400/t in all major locations.

Sources are optimistic about market outlook. However, a price correction in Punjab today has resulted in slight price corrections across regions, SteelMint notes.

Semi finished

• Induction grade billet export offers stable at $565-570/t exw Durgapur (equivalent to $595/t CPT Nepal), via road delivery.
• Sponge P-DRI prices in Raipur fell by INR 200/t & deals reported at INR 29,800-29,900/t on exw & FoR basis.
• Durgapur based Neo Metaliks has raised steel grade pig iron offers by INR 300/t to INR 38,500/t exw.
• Jharkhand based billet manufacturer offered at INR 42,200/t and sponge FeM 79 P-DRI at around INR 29,600/t exw Ramgarh.
• Jharsuguda, Odisha based sponge supplier offered FeM 80 P-DRI at around INR 30,000/t FoR Raipur.
• BMM Ispat offered FeM 80 P-DRI lumps at INR 29,100/t exw Bellary & around 1,200 t deals reported in nearby region.

Rebar (12 mm)

• GK TMT(Fe 500D) offers stable at INR 47,400/t exw Raipur.
• Shrishtii TMT offers reported at INR 45,200/t exw Raigarh (Down by INR 200/t).
• Rana 550 TMT offers reported at INR 45,800/t exw Muzaffarnagar (Up by INR 200/t).
• Mono TMT is offering at INR 49,200/t FoR Ahmedabad (Up by INR 200/t).
• Polaad TMT offers stable at INR 47,700/t exw Jalna.
• CPC Thermex TMT is offering at INR 44,300/t exw Durgapur.
• Metalics 550D TMT offers reported at INR 46,000/t exw Sambalpur.
• ARS TMT(Fe 550 D) offers unaltered at INR 51,100/t exw Chennai.

Wire rod and structure

• Mid scale mills wire rod export offers reported at $615-620/t exw Durgapur, equivalent to $645/t CPT Nepal, via road delivery.
• Trade reference wire rod prices in Raipur down by INR 100/t to INR 45,600-45,800/t exw, due to increase in trade discounts. However, assessment prices in Durgapur increased to INR 45,500-46,000/t exw.
• Heavy structural steel, base price of 150 mm channel increased by INR 300/t to INR 46,700/t in Raipur with firm trade discount of INR 700-900/t. Trade reference price of 200 mm angle is at INR 48,600-49,000/t exw.

Reference prices as on 27th Jul’21