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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...

Semi Finished
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18 Jun 2021, 19:19 IST
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 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.

Semi finished

  • 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.

Reference prices as on 18th June'21

 

18 Jun 2021, 19:19 IST

 

 

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