Indian DRI, billet & rebar update- 30 July '20

Indian steel market witnessed limited spot trades. According to the SteelMint's assessment, sponge iron prices have seen a decline of INR 50-350/t today across major regions. Meanwhile billet prices also declined by INR 100-300/t in many locations.

On the same trend rebar prices have shown fall of INR 100-200/t, d-o-d in major markets.

Semi Finished

• Raipur based sponge manufacturers have reduced P-DRI offers by INR 200/t to INR 17,400-17,600/t exw, however demand remains limited due to falling billet prices.
  
  
• Ind Synergy offered P-DRI at INR 17,100/t & billet at INR 28,200/t ex-Raigarh.
  
  
• Durgapur based Neo Metaliks has kept steel grade pig iron offers firm at INR 26,500/t exw, however limited inquiries reported.
  
  
• Rashmi Metaliks has offered sponge C-DRI at INR 19,200-19,300/t FoR Durgapur, as per market sources.
  
  
• Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 18,400/t & sponge mix material (60:40) at INR 18,000/t exw.
  
  
• Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI lumps at INR 18,200/t & billet at INR 28,000/t exw.
  
  
• Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 17,600-17,800/t exw, an official reported.
  
  
• BIOP Steels in South India has decreased sponge prices by INR 200/t, offering FeM 80 & 82 C-DRI lumps at INR 17,500/t & INR 17,800/t exw.
  
  
• BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 17,500-17,700/t ex-Bellary.
  
  

Rebar (12 mm)

• Scan Group (Shrishti TMT) is offering at INR 31,900/t exw Raigarh.
  
  
• Swarup TMT offers at INR 32,800/t exw Muzaffarnagar.
  
  
• Guardian TMT unchanged their offer at INR 32,500/t exw Mumbai.
  
  
• Rajuri TMT offering at INR 33,800/t exw Jalna.
  
  
• Diamond TMT keep offer stable at INR 34,200/t FoR Ahmedabad.
  
  
• Gujarat based German TMX BRAND rebars is offering at INR 40,200/t (Size 20 mm, incl tax) exw.
  
  
• Odisha based Ultra Strong TMT offers reported at INR 32,200/t exw.
  
  
• Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 31,700t exw Rourkela.
  
  
• Shubhlabh TMT (Odisha) offers reported at INR 31,800/t exw.
  
  
• Trade discount by Raipur based heavy structure manufacturers maintained at INR 600-900/t and trade price of 200 Angle is at INR 35,300-35,700/t exw.
  
  

Wire Rod & Pipe

• Mid scale mills billet export offers to Nepal drop at $370/t & wire rod at $420/t exw Durgapur. Freight cost to Nepal (Raxaul border) via road reported at $25/t.
  
  
• ERW Pipe manufacturers have decreased offers by INR 300/t to INR 34,400-34,500/t ex-Raipur.
  
  
• Trade discount in Raipur wire rod unchanged to INR 1,200-1,400/t, however base prices dropped by INR 300/t to INR 33,100/t ex-Raipur. Also in Durgapur trade reference prices fell by INR 200/t to INR 31,800-32,200/t exw.
  
  

Reference prices as on 30th Jul'20