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Indian DRI, billet and rebar update - 22 Apr

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22 Apr 2021, 18:46 IST
Indian DRI, billet and rebar update - 22 Apr

Indian secondary steel market remained supportive on account of slight drop in production, meanwhile demand remains weak for finished steel products. The prices have increased up to INR 1,300/t ($17), d-o-d.

As per SteelMint's assessment, domestic billet prices have risen by INR 200-1,300/t in many regions, whereas prices have boosted up majorly in Western & Eastern India by INR 900-1,300/t. Meanwhile, sponge iron offers have inclined by INR 200-700/t in the major markets except in Bellary (Karnataka) where offers declined by INR 300/t, d-o-d.

Also, in the rebar market, prices have gained by INR 100-700/t in all the locations, with a major rise in prices of around INR 700/t in Durgapur.

Semi Finished

  • Induction grade billet export offers rally by $10/t to around $555/t exw Durgapur, equivalent to $580/t CPT Nepal. The prices surge on domestic gain, while export inquiries remain limited, as per sources.

  • Neo Metaliks in Durgapur has raised steel grade pig iron price by INR 200/t to INR 38,700/t exw, however demand remains moderate, as per officials.

  • Sponge P-DRI prices in Raipur, Central India unaltered at INR 29,300-400/t & deals reported on exw, FoR Raipur basis.

  • Jajpur based, Visa Steels concluded deals of around 500 t steel grade pig iron in local region at INR 38,500/t exw.

  • Odisha based sponge supplier sold around 1,000 t FeM 80 C-DRI mix material in local region at around INR 29,000/t exw Jajpur.

  • BMM Ispat offered FeM 80 P-DRI lumps at INR 28,200/t exw Bellary (Down by INR 300/t).

  • BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 29,200/t exw Bellary (Down by INR 300/t).

Rebar (12 mm)

  • Metalics 550D TMT offers reported at INR 47,300/t exw Sambalpur. (Up by INR 300/t).

  • GK TMT offer stable at INR 48,500/t exw Raipur.

  • Mono TMT is offering at INR 50,500/t FoR Ahmedabad (Up by INR 200/t).

  • Kalika TMT offer unchanged at INR 50,000/t exw Jalna.

Wire Rod and Structure

  • Trade discount in Raipur wire rod drop to INR 700-800/t, following which trade reference price up by INR 500/t to INR 45,500-45,700/t exw. Also, prices in Durgapur surge by INR 500/t to INR 45,500-45,700/t exw.

  • Mid scale mills wire rod export offers increased to $610/t exw Durgapur, equivalent to $635-640/t CPT Nepal.

  • Raipur based heavy structure steel manufacturers, increase the base price of 150 mm channel by INR 800/t to INR 47,200/t, and given trade discount at INR 900-1,200/t, current trade reference price of 200 mm angle is at INR 48,900-49,300/t exw.

Reference prices as on 22nd Apr'21

 

22 Apr 2021, 18:46 IST

 

 

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