Indian DRI, billet & rebar update- 28 July ’20

Indian steel market witnessed limited spot trades. As per SteelMint’s assessment, sponge iron prices increased by INR 200-500/t across all locations, while billet prices fluctuated by INR 100-500/t in major locations.

However rebar prices moved up by INR 100-800/t, d-o-d in major markets in which a sharp hike was observed in Jalna whereas the prices declined by INR 200/t at Raigarh (central India).

Semi Finished

• Ind Synergy (Raigarh) offered P-DRI at INR 16,300/t & billet at INR 28,800/t ex-Raigarh.
• Raigarh based steel manufacturers getting pig iron offers from Odisha at INR 26,700-26,800/t FoR Raigarh.
• Odisha based manufacturer, Ganesh Metaliks offered billet at INR 28,600/t exw, an official reported.
• Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 18,500/t & billet at INR 28,300-28400/t exw.
• Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 18,000/t exw.
• BIOP Steels in South India has decreased sponge prices by INR 400/t, offering FeM 80 & 82 C-DRI lumps at INR 17,900/t & INR 18,300/t exw, Karnataka.
• BMM Ispat increased sponge pellet offers by INR 400-500/t to INR 17,600/t ex-Bellary.
• Raipur based major sponge manufacturers have kept P-DRI offers firm at INR 17,700-800/t exw & about 1,000-1,500 t deals reported by 3-4 plants.
• Neo Metaliks has further raised steel grade pig iron offers by INR 300/t to INR 26,500/t and few deals reported in local market.
• Rashmi Metaliks has offered sponge C-DRI at INR 19,300-400/t FoR Durgapur, as per market sources.

Rebar (12 mm)

• GK TMT keep offer stable at INR 34,200/t exw Raipur.
• Guardian TMT is offering at INR 32,400/t exw Mumbai (Up by INR 400/t).
• Swarup TMT offers at INR 33,300/t exw Muzaffarnagar.
• Rajuri TMT offering at INR 33,500/t exw Jalna (Up by INR 800/t).
• Diamond TMT offers at INR 34,200/t FoR Ahmedabad (Up by INR 300/t).
• Gujarat based German TMX BRAND rebars is offering at INR 40,000/t (Size 20 mm, incl tax) exw.
• Odisha based Shubhlabh TMT offers reported at INR 32,000/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 35,600-36,000/t exw.

Wire Rod & Pipe

• ERW Pipe manufacturers have increased offers by INR 200/t to INR 35,000/t ex-Raipur, INR 37,600/t ex-Mandi Gobindgarh & INR 34,700/t ex-Rourkela.
• Trade discount in Raipur wire rod increased to INR 1,000-1,200/t, however base prices remain unchanged at INR 33,400/t ex-Raipur & INR 32,400-32,800/t ex-Durgapur.

Reference prices as on 28th Jul’20