Indian DRI, billet & rebar update- 20th Aug

Indian steel prices continued declining & as per daily assessment sponge iron prices fell by INR 100-400/t. Also, billet prices softened by INR 200-600/t in all the regions.

Moreover, rebar prices have seen a downward trend of around INR 100-600/t, d-o-d, due to poor demand and falling semi finished prices on prevailing dull sentiments.

Semi Finished

• Induction grade billet (100*100 mm) export offers hovering at $405/t exw Durgapur, equivalent to $430-435/t CPT Nepal, via road delivery.
• Durgapur based Neo Metaliks has reduced steel grade pig iron price by INR 100/t to INR 29,300/t exw.
• Raipur based sponge P-DRI manufacturers have further reduced offers by INR 300/t to INR 19,700-19,800/t exw, however no major inquiries reported due to falling billet prices.
• Jindal Steel in Raigarh is offering steel grade pig iron at INR 29,200/t exw, however no fresh deals, as per officials.
• Raigarh based Singhal Steel offered P-DRI at INR 19,600/t & billet at INR 29,500/t exw.
• Ind Synergy (Raigarh) offered P-DRI at INR 19,700/t & billet at INR 29,500/t exw.
• Visa Steels offered FeM 80 sponge C-DRI (mix material) at INR 20,500/t exw Jajpur. However no major sales reported by officials.
• Bhaskar Steel and Ferro Alloy Ltd (Odisha) offered billet at INR 29,800/t exw.
• BIOP Steels in Karnataka has decreased sponge prices by INR 200-300/t, offering FeM 80 C-DRI lumps at INR 19,800/t exw.

Rebar (12 mm)

• GK TMT is offering at INR 35,800/t exw Raipur (Down by INR 500/t).
• Shrishtii TMT offers reported at INR 33,500/t exw Raigarh (Down by INR 400/t).
• Rathi Stelmax TMT offers at INR 36,000/t exw Delhi/NCR (Down by INR 700/t).
• Century TMT is offering at INR 34,000/t exw Muzaffarnagar (Down by INR 500/t).
• Gujarat based German TMX offers down by INR 500/t to INR 42,200/t exw (Size 20 mm, incl tax).
• Vinayak TMT is offering at INR 36,100/t FoR Ahmedabad (Down by INR 400/t).
• Polaad TMT reduce offer by INR 600/t to 34,900/t exw Jalna.
• Triple Power is current offering at INR 36,000/t exw Chennai.

Wire Rod & Pipe

• ERW Pipe manufacturers have decreased offers by INR 600-700/t to INR 35,600-35,700/t exw Raipur.
• Trade discount in Raipur wire rod is hovering at INR 1,100-1,300/t & base price dropped by INR 500/t to INR 33,900/t exw. Also in Durgapur trade reference prices fell by INR 200/t to INR 33,600-34,000/t exw.

Reference prices as on 20th Aug’20