Indian billet prices moved down further INR 250-400/t, following drop in rebar prices by INR 100-300/t d-o-d, owing to falling spot trades and future bookings.
While, sponge iron prices fell slightly by INR 100/t on account of sufficient orders among producers and strong prices of raw materials.
Semi Finished
- Raigarh based Singhal Steel offered P-DRI at INR 19,600/t & Billet at INR 29,300/t exw.
- Durgapur based Neo Metaliks has reduced offers by INR 200/t to INR 28,800/t exw.
- Visa Steels concluded deals of around 500t steel grade pig iron at INR 27,500/t exw Jajpur.
- BMM Ispat offered FeM 80 P-DRI lumps at INR 19,200-19,300/t exw Bellary & only 1,000 t deals reported in nearby region.
Rebar (12 mm)
- Radhe TMT is offering at INR 32,500/t exw Raigarh (Down by INR 400/t).
- Rathi Stelmax TMT offers at INR 35,700/t exw Delhi/NCR (Down by INR 500/t).
- National TMT is offering at INR 36,800/t FoR Ahmedabad.
- Gajkesri TMT kept offers stable at INR 33,900/t exw Jalna.
Wire Rod & Pipe
- Hyderabad (South India) based manufacturer Hari Om Pipe Industries Ltd has offered ERW Pipe at INR 40,000/t exw.
- ERW Pipe manufacturers have kept offers at firm level to INR 35,400-35,500/t exw Raipur, INR 38,500/t exw Mandi Gobindgarh & INR 35,500/t exw Rourkela.
Reference prices as on 2nd Sept’20
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