Indian DRI, billet and rebar update - 6 Apr

Indian secondary steel market has observed supportive trend today and prices have moved upto INR 700/t ($10) d-o-d basis.

As per the assessment, the domestic sponge iron offers have surged by INR 100-300, however a major increase of INR 400-500/t was seen in Rourkela and Raigarh region. Also, billet prices have raised by INR 200-500/t in major markets, whereas, a slight downfall of INR 200/t noticed in Western India.

Similarly, rebar market has registered an upward trend and prices have moved up by INR 200-700/t in most of the markets having a slight fall of INR 100/t being noticed in Mumbai.

Semi Finished

• Raipur based sponge P-DRI manufacturers have further raised offers by INR 200/t to INR 30,500/t exw, however few deals reported at INR 30,200-30,300/t exw.
  
  
• Durgapur based Neo Metaliks has reported deals of over 1,200 t steel grade pig iron at INR 39,000/t exw.
  
  
• Ind Synergy (Raigarh) offered P-DRI at INR 29,400/t & billet at INR 41,300/t exw.
  
  
• Jharsuguda, Odisha based sponge supplier sold around 1,000 t FeM 80 P-DRI at around INR 30,200/t FoR Raipur.
  
  
• BMM Ispat offered FeM 80 P-DRI lumps at INR 28,000/t exw Bellary.
  
  
• BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 28,600/t exw Bellary (Up by INR 100/t).
  
  

Rebar (12 mm)

• GK TMT is offering at INR 48,100/t exw Raipur (Up by INR 300/t)
  
  
• Shrishtii TMT offers reported at INR 46,000/t exw Raigarh.
  
  
• Metalics 550D TMT offers reported at INR 47,500/t exw Sambalpur.
  
  
• Swarup TMT is offering at INR 46,500/t exw Muzaffarnagar.
  
  
• Mono TMT offer reported at INR 49,100/t FoR Ahmedabad.
  
  
• Kalika TMT offer unchanged at INR 48,800/t exw Jalna.
  
  

Wire Rod and Structure

• Trade discount in Raipur wire rod decreased by INR 700-800/t to INR 900-1,000/t and base price was stable at INR 46,500/t exw. Prices in Durgapur have moved up by INR 200/t to INR 46,000-46,300/t exw.
  
  
• Raipur based heavy structure steel manufacturers, kept stable the base price of 150 mm channel at INR 46,000/t, and maintained trade discount at INR 1,100-1,400/t, current trade reference price of 200 mm angle is at INR 47,600-48,000/t exw.
  
  

Reference prices as on 6th Apr'21