Indian DRI, billet & rebar update- 5 August’20

Indian steel prices remained supported and registered a hike of up to INR 300/t in sponge iron & billets. Also, rebar prices increased by INR 100-400/t in major locations.

Industry experts stated that prices are rising due to continued shortage of raw material along with sponge iron, while demand of finished products remained average owing to lockdown and monsoons slowed down pace of construction activities.

Raw Material

• In central India, Silicon Manganese (60-14) deals reported at INR 59,000-59,500/t exw Raipur & Raigarh.
• BMM Ispat sold around 5,000 t pellets in nearby market at INR 6,600/t exw Bellary.

Semi Finished

• Raipur based a major sponge producer sold over 2,000 t P-DRI at INR 18,200-18,300/t & later offers revised to INR 18,500-18,600/t exw.
• Singhal Steel offered billet at INR 29,000/t exw Raigarh & few deals of around 600 t billet concluded for Raipur last day.
• Ind Synergy (Raigarh) offered P-DRI at INR 18,000/t & billet at INR 29,000/t exw. However, no major trades reported an official added.
• Central India, Durg based manufacturer sold around 500 t billet at INR 29,500/t exw in local region.
• Neo Metaliks in Durgapur reported last trades for steel grade pig iron at INR 27,200/t & fresh offers at INR 27,500/t exw.
• Bokaro based Electrosteels reported deals of over 2,000 t steel grade pig iron at INR 27,000-27,200/t exw, a couple of days ago.
• BMM Ispat increased sponge P-DRI offers by INR 200-300/t to INR 17,800/t exw Bellary.

Rebar (12 mm)

• Rathi Stelmax TMT based at Delhi/NCR today sold over 800 t of rebar at INR 34,900/t exw.
• Gallant TMT is offering rebar at INR 34,600/t exw Uttar Pradesh.
• Shrishti TMT kept offers unaltered at INR 32,500/t exw Raigarh.
• Rajuri TMT keep offer stable at INR 33,900/t exw Jalna.
• Mono TMT is offering at INR 34,400/t FoR Ahmedabad. (Up by INR 300/t).
• Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 32,000/t exw Rourkela.
• Prime Gold TMT is offering at INR 36,100/t exw Banglore.
• Triple Power is current offering at INR 35,000/t exw Chennai.

Wire Rod & Pipe

• ERW Pipe offers fluctuated by INR 100-200/t to INR 34,600-34,700/t exw Raipur, INR 38,000/t exw Mandi Gobindgarh & INR 34,700-34,800/t exw Rourkela.
• Trade discounts in Raipur wire rod is hovering at INR 1,000/t through the traders & base prices increased to INR 33,600/t exw by manufacturers. Also in Durgapur trade reference prices increased by INR 100/t to INR 32,500-32,800/t exw.

Reference prices as on 5th Aug’20