Indian DRI, billet and re-bar update - 18 Oct

The Indian induction furnace (IF) steel market saw volatility in prices on 18 Oct’21 as steel prices of the mid-sized mills fluctuated in the range of INR 50-800/tonne (t) across the country, d-o-d.

As per SteelMint’s assessment, semi-finished steel (including sponge iron and billet) prices fluctuated in the range of INR 50-800/t in the major markets; however offers increased by INR 50-450/t in the eastern belt (including Durgapur, Rourkela and Ramgarh).

In addition, rebar prices also fluctuated by INR 100-800/t across the country with a major fall of INR 800/t seen in Muzaffarnagar (north India), while a slight hike of INR 300-500/t was seen in south India.

Semi finished

• Indian IF route billet export offers hover at $645-650/t exw Durgapur, equivalent to $675/t CPT Nepal, via road delivery.
  
  
• Sponge P-DRI deals assessed at INR 35,200-35,400/t on exw & FoR Raipur basis, down by INR 200/t, d-o-d.
  
  
• Jharkhand based two manufacturers reported total of 1,200 t billet deals at INR 48,400-48,600/t on exw Ramgarh basis to the local and near by regions.
  
  

Wire rod and structure

• Mid scale mills wire rod export offers stand at $710/t exw Durgapur, equivalent to $735-740/t CPT Nepal.
  
  
• Trade reference wire rod prices in Raipur dropped by INR 700/t to INR 53,000-53,500/t exw, due to increase in trade discounts. However, prices in Durgapur rose by INR 300/t to INR 53,000-53,500/t exw.
  
  
• West Bengal based a producer reported around 500 t wire rod deals at INR 53,000/t exw in near by regions.
  
  
•  In Heavy structural steel, base price of 150 mm channel offer stable at INR 55,200/t in Raipur with firm trade discount of INR 700-1,000/t. Trade reference price of 200 mm angle is at INR 57,100-57,500/t exw.
  
  

Click here for re-bar brand wise details