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Indian DRI, billet and rebar update - 29 Apr


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29 Apr 2021, 18:40 IST
Indian DRI, billet and rebar update - 29 Apr

Indian secondary steel market has observed price recovery today and prices have risen by upto INR 1,000/t ($13) d-o-d.

As per assessment, the domestic billet offers have surged by INR 200-500/t in many regions with a sharp hike of around INR 1,000/t seen in Hyderabad, whereas, Northern market (Mandi, Gobindgarh) fell by INR 300/t. Also, sponge iron prices have risen by INR 100-400/t except in Durgapur where offers have slightly fallen by INR 200/t.

In addition to this, the rebar prices have increased by INR 100-700/t across major markets, however Chennai market has seen a little drop of INR 200/t in offers.

The prices have improved in the Central region on account of active local demand & from the Western & Northern regions which has kept offers supported.

Raw Material

  • Karnataka based BMM Ispat sold around 10,000 t pellets in nearby market at INR 12,100/t exw Bellary.

  • Odisha based sponge manufacturer booked 5,000 t RB2 coal at INR 6,500/t from ex-Gopalpur port.

  • Bellary based sponge manufacturer booked around 30,000 t RB2 coal at INR 6,900-7,000/t ex-Krishnapatnam port for May delivery.

Semi Finished

  • Induction grade billet export offer remains strong & hovering at $570/t exw Durgapur, equivalent to $595-600/t CPT Nepal. However, no fresh deals as the Nepal government announced a two weeks lockdown starting from today, this likely to impact steel demand & productions in the country, sources mentioned.

  • Sponge P-DRI offers increased in Raipur by INR 400/t to INR 28,800-28,900/t & deals reported on exw & FoR basis.

  • Neo Metaliks in Durgapur has kept steel grade pig iron price firma at INR 38,300-38,400/t exw.

  • Jharsuguda, Odisha based sponge supplier sold around 800 t FeM 80 P-DRI at around INR 28,800/t FoR Raipur.

  • Odisha based manufacturer, Ganesh sponge offered FeM 80 C-DRI at INR 29,000/t exw Angul.

  • Ind Synergy (Raigarh) offered P-DRI at INR 28,200/t & billet at INR 41,300/t exw.

  • BMM Ispat offered FeM 80 P-DRI lumps at INR 28,200/t exw Bellary & around 2,000 t deals reported in nearby region.

  • BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 29,300/t exw Bellary

Rebar (12 mm)

  • GK TMT offers stable at INR 48,000/t exw Raipur.

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

  • BS TMX offers reported at INR 45,700/t exw Raigarh (Up by INR 700/t).

  • A One Steel & alloys sold around 1,000 t rebar at INR 52,600/t exw Bellary.

  • Century TMT is offering at INR 47,800/t exw Muzaffarnagar.

  • Tri Shakti TMT is offering at INR 47,500/t exw Durgapur.

  • Rathi Stelmax TMT offers reported at INR 49,750/t exw Delhi/NCR.

  • Mono TMT offers stable at INR 49,500/t FoR Ahmedabad.

  • Polaad TMT offers unchanged at INR 50,200/t exw Jalna.

Wire Rod and Structure

  • Mid scale mills wire rod export offers unchanged at $625/t exw Durgapur, equivalent to $650-655/t CPT Nepal.

  • Trade discounts in Raipur wire rod increased to INR 1,100-1,300/t, following which trade reference price went down by INR 200/t to INR 44,700-44,800/t exw. However, prices in Durgapur stable at INR 46,000-46,200/t exw.

  • Raipur based heavy structure steel manufacturers, kept stable the base price of 150 mm channel at INR 47,200/t, and maintained trade discount at INR 1,300-1,500/t, current trade reference price of 200 mm angle is at INR 48,600-49,000/t exw.

Reference prices as on 29th Apr'21


29 Apr 2021, 18:40 IST



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