Indian DRI, billet and rebar update - 18 Jun
Spot trading activity in the Indian secondary steel market remained weak today and prices declined further by up to INR 700/t ($10), day-on-day. According to SteelMint ass...
Spot trading activity in the Indian secondary steel market remained weak today and prices declined further by up to INR 700/t ($10), day-on-day.
According to SteelMint assessment, semi-finished steel (sponge iron and billet) prices dropped by INR 100-400/t in most locations, whereas a marginal hike of INR 100-200 witnessed in Central region's billet market (Raigarh and Raipur).
Moreover, induction furnace grade rebar offers decreased by INR 100-700/t in many regions. However, the Delhi/NCR market observed a sharp fall in prices by around INR 700/t, as per SteelMint reports.
- Induction grade billet export offers drop by $5/t to $565/t exw Durgapur, equivalent to $590-595/t CPT Nepal, via road delivery.
- Neo Metaliks in Durgapur has reduced steel grade pig iron price by INR 300/t to INR 39,000/t exw.
- Sponge P-DRI prices slightly drop in Raipur and a few deals reported at INR 30,500-30,600/t exw & FoR Raipur.
- Jharsuguda, Odisha based sponge supplier offered FeM 79 P-DRI at around INR 30,500/t FoR Raipur.
- Jindal Steel is offered steel grade pig iron at INR 39,300/t exw Raigarh.
- Ind Synergy offered P-DRI at INR 29,600/t & billet at INR 41,900/t exw Raigarh.
- Jajpur, Odisha based sponge supplier sold around 500 t FeM 80 C-DRI mix material at around INR 31,000/t exw.
- Sources reported Chandrapur (Maharashtra) based manufacturers offered sponge P-DRI (FeM 80) at INR 30,500/t exw.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 29,000/t exw Bellary.
- BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 29,600/t exw Bellary (Down by INR 200/t).
Rebar (12 mm)
- GK TMT offers stable at INR 48,500/t exw Raipur.
- Rathi Stelmax TMT is offering at INR 49,000/t exw Delhi/NCR (Down by INR 750/t).
- Century TMT offers reported at INR 47,000/t exw Muzaffarnagar (Down by INR 400/t).
- Metalics 550D TMT offers reported at INR 47,200/t exw Sambalpur.
- Chaliama based Rungta TMT offers reported at INR 45,600/t exw.
- Mono TMT is offering at INR 48,600/t FoR Ahmedabad (Down by INR 500/t).
- Polaad TMT offers stable at INR 48,000/t exw Jalna.
Wire rod and structure
- Mid scale mills wire rod export offers plunged by $5/t to $615/t exw Durgapur, equivalent to $640-645/t CPT Nepal, via road delivery.
- Trade reference wire rod prices in Raipur unaltered at INR 45,300-45,500/t exw on account of firm discount. However, prices in Durgapur fell by INR 300/t to INR 45,000-45,200/t exw.
- Raipur based heavy structure steel manufacturers, kept stable the base price of 150 mm channel at INR 46,900/t and given trade discount by INR 400-700/t. Trade reference prices of 200 mm angle are at INR 49,200-49,600/t exw.