Indian DRI, billet & rebar update- 22 July ’20

Indian billet prices fell today by INR 150-250/t due to weak demand in finished products. Rebar prices saw a marginal fall of around INR 100-200/t in major locations whereas the prices remained supported in western region.

Meanwhile sponge iron prices have remained strong in central & southern India, however it has softened in eastern region due to limited inquires. Trade participants shared that due to falling finished steel demand, billet prices are also declining.

Raw material

• BMM Ispat sold around 10,000 t pellets in nearby market at INR 5,700/t EXW Bellary.

Semi Finished

• Raigarh based smelters getting offers of 80 FeM C-DRI mix material from Odisha at INR 17,000/t FoR Raigarh.
• Billet deals learned at INR 27,600-27,700/t FoR Raipur from Odisha based manufacturers.
• Odisha based sponge supplier sold around 1,000 t FeM 80 C-DRI lumps to Maharashtra at around INR 18,700-18,800/t FoR Jalna.
• Ind Synergy (Raigarh) concludes few deals of around 1000 t of P-DRI at INR 16,000/t EXW & offering billet at INR 27,100/t EXW.
• Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 16,700/t EXW.
• BIOP Steels increased sponge prices by INR 200-300/t, offering FeM 80 & 82 C-DRI lumps at INR 16,000/t & INR 16,400/t EXW, Karnataka; an official reported.
• BMM Ispat increased sponge pellet offers by INR 100-200/t to INR 15,700-15,800/t ex-Bellary & around 5,000 t deals reported in nearby region.

Rebar (12 mm)

• Swarup TMT is offering at INR 32,000/t EXW Muzaffarnagar.
• Guardian TMT is offering at INR 31,100/t EXW Mumbai (Up by INR 100/t).
• Rajuri TMT offering at INR 31,600/t EXW Jalna.
• Vinayak TMT offers at INR 33,200/t FoR Ahmedabad.
• ARS 550 D is current offering at INR 38,500/t EXW Chennai.
• Scan Group (Shrishti TMT) is offering at INR 30,700/t EXW Raigarh.
• Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 30,500/t EXW Rourkela.
• Trade discount by Raipur based heavy structure manufacturers maintained at INR 700-900/t and trade price of 200 Angle is at INR 34,300-34,600/t EXW.

Pipe

• ERW Pipe manufacturers have kept offers at firm level to INR 33,500-33,600/t ex-Raipur, INR 36,800/t ex-Mandi Gobindgarh & INR 33,500/t ex-Rourkela.

Reference prices as on 22nd Jul’20

Basic price in INR/t & excluding GST @ 18%

Source: SteelMint Research