Indian DRI, billet & rebar update- 11th Sep

Indian steel prices of secondary players remained on downtrend & as per daily assessment sponge, iron prices fell by INR 100-400/t & billet prices softened by INR 200-400/t in all the regions.

Moreover, rebar prices have seen a downward trend of around INR 100-400/t, d-o-d, due to poor demand and falling semi-finished steel prices on prevailing dull sentiments.

The sponge manufacturers in major markets of central & eastern India reported improved availability, hence indicated if demand remains weak, the prices may come down gradually.

Raw Material

• Silicon Manganese (60-14) trades in Raipur is assessed at INR 61,000-61,250/t exw.
  
  

Semi Finished

• Induction grade billet export offers drop further by $3/t to around $405-407/t exw Durgapur, equivalent to $430-432/t CPT Nepal, via road delivery.
  
  
• Visa Steels offering steel grade pig iron at INR 27,500/t exw Jajpur (Down by INR 500/t).
  
  
• Neo Metaliks has reduced steel grade pig iron price by INR 200/t to INR 28,800/t exw Durgapur.
  
  
• Raipur based major sponge manufacturers have reduced P-DRI offers by INR 300/t to INR 19,600-19,700/t, however few inquiries reported at less price of around INR 19,500-19,600/t, exw.
  
  
• Ind Synergy (Raigarh) offered P-DRI at INR 19,200/t & billet at INR 29,100-29,200/t exw
  
  
• BMM Ispat has kept offers unaltered for FeM 80 P-DRI lumps at INR 19,100-19,200/t exw Bellary. However no major deals reported from officials.
  
  

Rebar (12 mm)

• GK TMT is offering at INR 35,000/t exw Raipur (Down by INR 300/t).
  
  
• Shrishtii TMT offers reported at INR 33,000/t exw Raigarh (Down by INR 200/t).
  
  
• Rathi Stelmax TMT is offering at INR 35,800/t exw Delhi/NCR (Down by INR 300/t).
  
  
• National TMT is offering at INR 36,100 FoR Ahmedabad.
  
  
• Kalika TMT decline their offer by INR 200/t to 33,900/t exw Jalna.
  
  

Wire Rod, Pipe & Structure

• Trade discount in Raipur wire rod up by INR 300/t to INR 1,500-1,700/t, however base price remained firm at INR 34,300/t exw. Also, in Durgapur trade reference price dropped by INR 300/t to INR 32,800-33,200/t exw.
  
  
• Mid scale mills wire rod export offers fell by $5/t to $445-447/t exw Durgapur, equivalent to $470-473/t CPT Nepal.
  
  
• ERW Pipe manufacturers have decreased offers by INR 100-200/t to INR 35,200/t exw Raipur, INR 38,000/t exw Mandi Gobindgarh & INR 35,300/t exw Rourkela.
  
  
• Hyderabad (South India) based manufacturer Hari Om Pipe Industries Ltd has offered ERW Pipe at INR 40,300/t exw (Down by INR 200/t).
  
  

Reference prices as on 11th Sep'20