Indian DRI, billet & rebar update- 18th Aug

Indian steel market reported drop in prices, in which sponge iron prices fell by INR 100-300/t, whereas billet prices declined by INR 300-700/t across major markets. Also, rebar prices dropped by INR 100-400/t, d-o-d.

Sources reported, due to limited spot trades amid limited expectations of further rise, the prices dropped sharply in today's trade.

Raw Material

• Karnataka based BMM Ispat kept offers unaltered for raw pellets at INR 8,100/t exw.
  
  
• Raigarh based steel manufacturer concluded deals of around 10,000 t raw pellet at INR 7,800/t exw.
  
  

Semi Finished

• Raipur based major sponge manufacturers have reduced P-DRI offers by INR 100/t to INR 21,400-21,500/t, however few inquiries reported at near to INR 21,300/t exw, due to fall in billet prices.
  
  
• Monnet Ispat has offered sponge DR-CLO grade at INR 23,000/t & P-DRI at INR 21,300-21,400/t exw Raipur.
  
  
• As per Ingot/billet manufacturers in Raigarh, Central India steel grade pig iron offers by traders at around INR 29,100-29,200/t exw.
  
  
• Ind Synergy (Raigarh) offered P-DRI at INR 20,700/t & billet at INR 31,000/t exw.
  
  
• Singhal Steel decreased billet offers by INR 200/t to INR 30,800/t exw.
  
  
• Durgapur based Neo Metaliks has lowered steel grade pig iron price by INR 100/t to INR 29,700/t exw.
  
  
• Giridih, Jharkhand based Atibir Industries has reported steel grade pig iron at INR 30,300-30,500/t exw.
  
  
• East India, Odisha based manufacturer, Mahavir Ferro Alloys offered billet at INR 31,000/t exw.
  
  
• Shri Hari Sponge offered FeM 80 sponge C-DRI (mix material) at INR 21,700/t exw Rourkela.
  
  
• Bhaskar Steel and Ferro Alloy Ltd (Odisha) offered billet at INR 31,000/t exw.
  
  
• BMM Ispat offered FeM 80 P-DRI lumps at INR 20,500/t exw Bellary & only 1,000 t deals reported in nearby region.
  
  

Rebars (12 mm)

• GK TMT unchanged their offer at INR 37,000/t exw Raipur.
  
  
• Shrishtii TMT kept offers unchanged & reported at INR 34,700/t exw Raigarh.
  
  
• Radhe TMT keep offers stable at INR 34,800/t exw Raigarh.
  
  
• Bajrangbali Re-rollers is offering rebar at INR 34,500/t exw Rourkela (Down by INR 200/t).
  
  
• Swarup TMT offers at INR 35,300/t exw Muzaffarnagar.
  
  
• Rajuri TMT unchanged their offer at INR 35,300/t exw Jalna.
  
  
• Vinayak TMT offers stable at INR 36,500/t FoR Ahmedabad.
  
  

Wire Rod & Pipe

• ERW Pipe manufacturers have increased offers by INR 100-200/t to INR 37,000/t exw Raipur, INR 39,400/t exw Mandi Gobindgarh & INR 36,800/t exw Rourkela.
  
  
• Trade discount in Raipur wire rod increased to INR 1,300-1,500/t & base price stable at INR 35,600/t exw. Also in Durgapur trade reference prices dropped by INR 200/t to INR 34,600-35,000/t exw.
  
  

Reference prices as on 18th Aug'20