Indian DRI, billet & rebar update- 04 August ’20

Indian steel market has seen a sharp hike in prices in last 2-3 days. Sponge iron prices rallied by INR 100-950/t, billet by INR 400-1,100/t & rebar prices by INR 300-1,100/t against the price assessment on 1st Aug’20.

Industry experts stated that price rally was due to raw material shortage continuing along with seasonal low productions of sponge iron. In addition, price hike made by primary mills have influenced mid scale steel mills to keep prices on the higher side.

Raw Material

• BMM Ispat sold around 5,000 t pellets in nearby market at INR 6,500/t exw Bellary.

Semi Finished

• Monnet Ispat has offered sponge DR-CLO grade at INR 20,000/t & P-DRI at INR 18,300/t exw Raipur.
• Raipur based major sponge manufacturers have increased offers by INR 300/t to INR 18,200-18,400/t & total of around 2,000 t deals reported 2-3 plants.
• Ind Synergy (Raigarh) offered P-DRI at INR 17,800/t & billet at INR 29,000/t exw.
• Jindal Steel is offering steel grade pig iron at INR 27,200/t exw Raigarh.
• Neo Metaliks in Durgapur has offered steel grade pig iron at INR 27,000/t exw.
• Visa Steels offering steel grade pig iron at INR 26,500/t exw Jajpur.
• Shri Hari Sponge, an Odisha based manufacturer offered FeM 80 sponge C-DRI (mix material) at INR 19,000/t exw.
• Sources reported Chandrapur (Maharashtra) based manufacturers offered Sponge P-DRI (FeM 80) at around INR 19,000/t exw.
• BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,500-17,700/t exw Bellary & around 3,500 t deals reported in nearby region.

Rebars (12 mm)

• Bhagyalaxmi Rolling Mill Pvt. Ltd. (Polaad TMT) sold around 3,000 t rebar at INR 33,700/t and increased their offer by INR 200/t to 33,900/t ( 12-25 mm) exw Jalna.
• Paras TMT offers at INR 33,400/t exw Muzaffarnagar.
• Mono TMT is offering at INR 34,100/t FoR Ahmedabad.
• Trade discount by Raipur based heavy structure manufacturers maintained at INR 600-900/t and trade price of 200 Angle is at INR 35,700-36,100/t exw.
• Shrishti TMT offers reported at INR 32,500/t exw Raigarh.
• Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 32,000t exw Rourkela.

Wire Rod & Pipe

• ERW Pipe manufacturers have increased offers by INR 900/t to INR 34,700-34,800/t exw Raipur.
• Trade discount in Raipur wire rod stood at INR 800-1,000/t and base prices increased to INR 33,400/t exw Raipur & INR 32,300-32,700/t exw Durgapur.

References prices as on 4th Aug’20