Indian steel market updated- 21 July’20

Indian spot steel trades were average & as per daily assessment, billet prices have seen a little hike of around INR 100-200/t in central & western regions, whereas prices slightly fall in northern India.

In addition to that sponge iron prices increased by INR 50-300/t. It has also been learned that demand of finished has been totally disturbed from north-east regions due to heavy rain & lockdown measures.

Raw Material

• Monnet Ispat offered 60-14 silico manganese at INR 60,750/t EXW, Raipur- Officials.
• BMM Ispat sold around 5,000 MT pellets in nearby market at INR 5,700/t EXW Bellary.
• Singhal Steel, Raigarh based manufacturer has offered 60-14 silico manganese at INR 60,500/t EXW.

Semi Finished

• Vedanta has floated an export tender for 30,000 t pig iron for Aug’20 shipment, SteelMint learned from sources.
• Monnet Ispat has offered sponge DR-CLO grade at INR 18,200/t & P-DRI at INR 16,400/t EXW, Raipur.
• Central India, Raigarh based steel manufacturer has concluded a deal of billet at INR 27,700-27,800/t FoR Raipur.
• BS Sponge offered P-DRI at INR 15,800/t & billet at INR 27,300/t EXW Raigarh.
• Singhal Steel offered billet at INR 27,100-27,200/t ex-Raigarh.
• Ind Synergy (Raigarh) offered P-DRI at INR 16,000/t & billet at INR 27,300/t ex-Raigarh.
• Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,700/t & Billet at INR 26,700/t EXW.
• Odisha based sponge supplier sold around 500-600 MT FeM 80 C-DRI lumps to Jalna (Maharashtra) at around INR 18,600/t FoR Jalna.
• BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 15,500/t & INR 15,800/t EXW, Karnataka.
• BMM Ispat increased sponge pellet offers by INR 200/MT to INR 15,600/MT ex-Bellary & around 5,000 t deals reported in nearby region.

Rebar (12 mm)

• Paras TMT is offering at INR 32,200/t EXW Muzaffarnagar.
• GK TMT offers at INR 33,100/t EXW Raipur. (Up by INR 200/t)
• Guardian TMT is offering at INR 31,000/t EXW Mumbai (Up by INR 100/t).
• Kalika TMT is offering at INR 31,500/t EXW Jalna (Down by INR 300/t).
• Diamond TMT is offering at INR 32,800/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 34,300-34,700/t EXW.
• BS Sponge (BS TMX TMT) is offering at INR 30,400/t EXW Raigarh.
• Odisha based Shubhlabh TMT offers reported at INR 30,500/t EXW.
• Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 30,700/t EXW Rourkela.

Wire Rod & Pipe

• Trade discounts in Raipur wire rod up by INR 100/t to INR 800-1,000/t along with hike in base price by INR 300/t to INR 31,700/t ex-plant. Also, in Durgapur trade reference prices increased by INR 100-200/t to INR 31,000-31,300/t ex-plant.
• Raipur based a major sponge producers have increased P-DRI prices to INR 16,400-500/t ex-plant & about 1,000-1,200 t deals reported. Meanwhile mid sized plants offered at INR 16,500/t ex-plant, although no major deals, as reported by participants.
• Rashmi Metaliks has raised sponge C-DRI offers by INR 200/t to INR 17,7900-18,000/t FoR Durgapur, as per sources.
• ERW Pipe manufacturers have increased offers by INR 200-400/t to INR 33,500-33,600/t ex-Raipur, INR 37,000/t ex-Mandi Gobindgarh & INR 33,500/t ex-Rourkela.

Reference price as on 21st Jul’20

Basic price in INR/t & excluding GST @ 18%

Source: SteelMint Research