Indian DRI, billet and rebar update - 14 Jul
The Indian secondary steel market on 14 Jul’21 noticed further limited trade activity and prices declining by up to INR 800/tonne (t) ($11) d-o-d. As per SteelMi...
The Indian secondary steel market on 14 Jul'21 noticed further limited trade activity and prices declining by up to INR 800/tonne (t) ($11) d-o-d.
As per SteelMint's assessment, sponge iron offers decreased by INR 100-500/t in many regions with a major drop of INR 500/t witnessed in Durgapur.
Domestic billet prices too, dropped in the range of INR 100-800/t across locations. However, a sharp fall of INR 800/t was seen in Mandi Gobindgarh.
Also, induction furnace grade rebar prices dropped by INR 100-800/t throughout India, while a drop of 800/t was noticed in the Raigarh market.
Amidst volatility in prices, demand remains subdued, SteelMint notes.
- A Chandrapur (Maharashtra) based sponge iron manufacturer getting raw pellet offers from Bellary at INR 14,600-14,700/t FoR.
- Singhal Steel, Raigarh based manufacturer has offered 60-14 silico manganese at INR 94,500/t exw.
- Induction grade billet export offers fell to around $540/t exw Durgapur (equivalent to $565-570/t CPT Nepal), via road delivery.
- Sponge P-DRI prices in Raipur drop by INR 200/t & few deals reported at INR 28,800-28,900/t on exw & FoR basis.
- Durgapur based Neo Metaliks has reported a few deals of steel grade pig iron at around INR 37,000/t exw.
- Jajpur, Odisha based sponge supplier offered FeM 80 C-DRI mix material at around INR 29,500/t exw.
- Ind Synergy offered P-DRI at INR 28,100/t & billet at INR 40,300/t exw Raigarh.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 28,500/t exw Bellary.
- BIOP Steels in South India has concluded 500 t FeM 80 C-DRI lumps deal at INR 29,300/t exw Bellary.
Rebar (12 mm)
- GK TMT(Fe 500D) is offering at INR 46,000/t exw Raipur (Down by INR 400/t).
- Metalics 550D TMT offers reported at INR 44,700/t exw Sambalpur (Down by INR 600/t).
- BS TMX offers reported at INR 43,700/t exw Raigarh (Down by INR 500/t).
- A One Gold TMT offers reported at INR 48,700/t exw Bellary.
- Rana 550 TMT offers reported at INR 44,800/t exw Muzaffarnagar (Down by INR 300/t).
- Balaji Sarvottam TMT is offering at INR 43,700/t exw Durgapur.
- Mono TMT kept offers stable at INR 47,450/t FoR Ahmedabad.
- Gajkesari TMT kept offers unaltered at INR 46,000/t exw Jalna.
Wire rod and structure
- Mid scale mills wire rod export offers stand at $590-595/t exw Durgapur, equivalent to $620/t CPT Nepal, via road delivery.
- Trade reference wire rod prices in Raipur plunged by INR 500/t to INR 44,400-44,500/t exw, due to reduced base price. Also, prices declined in Durgapur by INR 400/t to INR 43,700-44,000/t exw.
- Raigarh based Singhal Steel concluded around 1,000 t deals of wire rod at INR 44,700/t exw.
- Heavy structural steel, base price of 150 mm channel decline by INR 300/t to INR 45,200/t in Raipur with firm trade discount at INR 800-1,000/t. Trade reference price of 200 mm angle is at INR 47,100-47,500/t exw.