Indian DRI, billet & rebar update- 27 July ’20

Indian steel prices increased further and as per daily assessment sponge iron prices rallied by INR 200-600/t in which major hike was noticed in southern India – Hyderabad & Bellary by INR 400-600/t.

Also billet prices surged by INR 100-550/t & rebar prices by INR 100-800/t, however rebar prices mainly moved up in Raigarh by INR 800, Durgapur by INR 700 & Hyderabad by INR 600/t.

Industry experts mentioned that finished steel demand remained less than average, while increasing prices of semi finished steel have forced re-rollers to increase their price range to secure conversion spread (margins).

Raw material

• BMM Ispat located in Bellary, Karnataka sold around 5,000 MT pellets in nearby market at INR 6,100-6,200/t EXW.

Semi Finished

• Raipur based major sponge manufacturers have raised P-DRI offers by INR 300/t to INR 17,700-800/t EXW, however limited deal reported.
• Ind Synergy (Raigarh) offered P-DRI at INR 16,300/t & billet at INR 28,800/t ex-Raigarh.
• East India, Odisha based manufacturer, Mahavir Ferro Alloys offered billet at INR 28,500/t EXW.
• Odisha based pig iron manufacturer, Visa Steels offering steel grade pig iron at INR 25,000-25,200/t EXW Jajpur.
• Odisha based manufacturer, Ganesh Metaliks offered billet at INR 28,500/t EXW, an official reported.
• Neo Metaliks has raised steel grade pig iron prices by INR 500/t to INR 26,200/t ex-Durgapur.
• BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,200-17,300/t ex-Bellary.

Rebar (12 mm)

• GK TMT is offering at INR 34,200/t EXW Raipur (Up by INR 500/t).
• Scan Group (Shrishti TMT) is offering at INR 32,500/t EXW Raigarh.
• Swarup TMT is offering at INR 33,200/t EXW Muzaffarnagar.
• Guardian TMT offers at INR 32,000/t EXW Mumbai (Up by INR 100/t).
• Polaad TMT offering at INR 32,500/t EXW Jalna.
• Mono TMT offers at INR 33,600/t FoR Ahmedabad (Up by INR 500/t).
• Gujarat based German TMX BRAND rebars is offering at INR 39,700/t (Size 20 mm, incl tax) EXW.
• Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 31,700-31,800/t EXW Rourkela.
• Odisha based Shubhlabh TMT offers reported at INR 31,800/t EXW.
• ARS 550 D offers rebar at INR 38,500/t EXW Chennai.
• Trade discount by Raipur based heavy structure manufacturers maintained at INR 800-1,000/t and trade price of 200 Angle is at INR 35,300-35,700/t EXW.

Wire & Pipe

• ERW Pipe manufacturers have increased offers by INR 600/t to INR 34,800/t ex-Raipur.
• Trade discount in Raipur wire rod assessed at INR 700-900/t through the traders and base prices increase by INR 200/t to INR 33,400/t EXW. Also in Durgapur trade reference prices up by INR 500/t to INR 32,400-32,700/t EXW.

References prices as on 27th Jul’20