Indian DRI, billet & rebar update- 14th Aug

Indian steel prices exhibited volatility today. Sponge iron prices increased marginally by INR 100/t in most of the regions. However billet prices fell by INR 100-350/t, d-o-d in major locations.

In addition to that on daily basis trades, rebar prices fluctuated by INR 100-400/t in major markets.

Raw material

• BMM Ispat sold around 5,000 t pellets at INR 8,000/t exw & increased offers to INR 8,100/t exw.
  
  
• Singhal Steel, Raigarh based manufacturer has offered 60-14 silico manganese at INR 61,000/t exw.
  
  

Semi Finished

• Induction grade billet (100*100 mm) export offers hovering at $413-415/t exw at Durgapur, equivalent to $440/t CPT Nepal.
  
  
• Raipur based major sponge manufacturers have kept P-DRI offers firm at INR 21,000-21,200/t & few inquiries reported at near to INR 21,000/t exw.
  
  
• Ind Synergy offered P-DRI at INR 20,300/t & billet at INR 30,700-30,800/t exw Raigarh.
  
  
• Singhal Steel offered billet at INR 31,000/t exw Raigarh.
  
  
• Durgapur based Neo Metaliks has roll-over steel grade pig iron prices at INR 29,500/t & inquiries learned at around INR 29,300/t exw.
  
  
• Rashmi Metaliks based in Kharagpur, West Bengal has offered sponge P-DRI at INR 21,100/t exw, as per sources.
  
  
• Bhaskar Steel and Ferro Alloy Ltd (Odisha) offered billet at INR 30,900/t exw.
  
  
• BMM Ispat increase offers by INR 200/t for FeM 80 P-DRI lumps to INR 20,500/t exw Bellary. However no deals reported from officials.
  
  
• Hare Krishna has offered FeM 79-80 P-DRI at INR 20,500/t exw Bellary, an official reported.
  
  
• BIOP Steels in Karnataka has increased sponge prices by INR 200/t, offering FeM 80 C-DRI lumps at INR 20,000/t exw.
  
  

Rebar (12 mm)

• GK TMT is offering at INR 36,600/t exw Raipur (up by INR 300/t).
  
  
• Sagar TMT is offering at INR 34,900/t exw Raipur.
  
  
• Shrishti TMT offers reported at INR 34,500/t exw Raigarh (Up by INR 500/t).
  
  
• Kalika TMT is offering at 35,100/t exw Jalna (up by INR 100/t).
  
  
• Bajrangbali Re-rollers is offering rebar at INR 34,300/t exw Rourkela.
  
  
• Shubhlabh TMT offers reported at INR 34,300/t exw Rourkela.
  
  

Wire Rod & Pipe

• ERW Pipe manufacturers have kept offers unchanged to INR 36,500/t exw Raipur.
  
  
• Trade discount in Raipur wire rod is hovering at INR 900-1,100/t with base price at INR 35,000/t exw. However in Durgapur trade reference prices drop by INR 300/t to INR 34,000-34,500/t exw.
  
  

Reference prices as on 14th Aug'20