Indian DRI, billet & rebar update- 26th Aug

Indian steel prices fluctuated today. Sponge iron prices slightly declined by INR 100-150/t in major markets, however it gained by INR 100/t in central region (Raipur). Whereas billet prices have moved up marginally by INR 50-200/t in many locations except northern, eastern & western regions where it fell by INR 50-200/t.

In addition to it, rebar prices increased by INR 100-300/t, d-o-d, in most of the locations.

Raw Material

• Singhal Steel, Raigarh based manufacturer has offered 60-14 silico manganese at INR 61,500/t exw.
  
  

Semi Finished

• Raipur based sponge manufacturers have maintained P-DRI offers firm at INR 19,200-19,300/t exw, however no major deals reported due to healthy bookings in the last day.
  
  
• Singhal Steel offered P-DRI at INR 18,800/t & Billet at INR 29,000/t exw Raigarh.
  
  
• Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 30,900/t & INR 34,100-34,200/t on FoR basis, excluding 18% GST.
  
  
• Visa Steels concluded deals of around 500 t steel grade pig iron at INR 28,000/t exw Jajpur.
  
  
• Durgapur based Neo Metaliks has further lower steel grade pig iron price by INR 100-200/t to INR 28,300-28,400/t exw & few deals reported in local market.
  
  
• Bokaro based Electro Steels has sold around 2,000 t steel grade pig iron at around INR 28,200-28,300/t exw.
  
  
• BIOP Steels in South India has offered FeM 80 C-DRI lumps at INR 19,000/t exw.
  
  
• BMM Ispat offered FeM 80 P-DRI lumps at INR 18,700-18,800/t exw Bellary & around 5,000 t deals reported in nearby region.
  
  
• Bellary based sponge iron manufacturer sold FeM 76 C-DRI fines at INR 16,000/t exw.
  
  

Rebar (12 mm)

• GK TMT stable at INR 34,700/t exw Raipur.
  
  
• Shrishtii TMT offers reported at INR 32,700/t exw Raigarh.
  
  
• Radhe TMT is offering at INR 32,300/t exw Raigarh (Up by INR 200/t).
  
  
• Rathi Stelmax TMT offers at INR 35,100/t exw Delhi/NCR (Up by INR 100/t).
  
  
• Century TMT is offering at INR 33,800/t exw Muzaffarnagar (Up by INR 200/t).
  
  
• Rajuri TMT is offering at 34,400/t exw Jalna (Up by INR 200/t).
  
  
• Vinayak TMT is offering at INR 35,800/t FoR Ahmedabad.
  
  

Wire Rod & Pipe

• ERW Pipe manufacturers have increased offers by INR 500/t to INR 34,700/t exw Raipur.
  
  
• Trade discounts in Raipur wire rod slightly increase by around INR 300/t to INR 900-1,100/t and base price amplified by INR 500/t to INR 33,200/t exw.
  
  

Reference prices as on 26th Aug'20