Indian steel market update- 14 July'20

Indian sponge iron & billet prices fluctuated slightly by INR 100/t today due to limited spot trades on disparity between bids & offers, specifically in the central region.

Similarly in the rebar market, there was a price movement of INR 100-200/t seen on daily trades, however in northern India sharp hike of INR 300-500/t was noticed on improved demand due to lifting of lockdown in U.P. However it will continue for weekends only till further notice.

Raw Material

• Silicon Manganese (60-14) offers remain stable at INR 61,000-61,500/t, while few deals assessed at INR 61,000/t ex-plant, Raipur.
  
  

Semi Finished

• Durgapur based Neo Metaliks has kept steel grade pig iron offers firm at INR 25,000/t, while deals reported at INR 24,800/t ex-plant.
  
  
• Raigarh based producers offered sponge P-DRI at INR 15,800-900/t ex-plant, equivalent to INR 16,500/t FoR Raipur.
  
  
• Pig iron offers remain strong in central India and are assessed at INR 23,600-800/t FoR Raigarh & INR 23,800-24,000/t FoR Raipur.
  
  
• Raipur based major sponge manufacturers have increased sponge P-DRI offers by INR 100-200/t to INR 16,400-16,500/t, however no major deals reported and buying inquires learned at near to INR 16,300/t ex-plant.
  
  
• South India's major sponge producer - BMM Ispat has further raised P-DRI offers by INR 100/t to INR 15,200-300/t ex-Bellary.
  
  

Rebar (12 mm)

• GK TMT is offering at INR 33,600/t EXW Raipur (Up by INR 200/t).
  
  
• Shree OM TMT is offering at INR 32,000/t EXW Jalna.
  
  
• Diamond TMT is offering at INR 33,400/t FoR Ahmedabad (Up by INR 200/t).
  
  
• ARS 550 D TMT is offering at INR 39,000/t EXW Chennai.
  
  
• Paras TMT is offering at INR 32,900/t EXW Muzaffarnagar.
  
  
• Trade discount given by Raipur based heavy structure manufacturers is at INR 600-900/t and the trade price of 200 Angle is INR 34,600-35,000/t EXW.
  
  

Wire Rod & Pipe

• Trade discounts in Raipur wire rod up by INR 200/t to INR 800-1,000/t through the traders, also base prices up by INR 300/t to INR 31,900/t EXW. However Durgapur offers remain stable at INR 31,800-32,000/t EXW.
  
  
• ERW Pipe manufacturers have increased offers by INR 300/t to INR 34100/t ex-Raipur.
  
  

Reference prices as on 14th Jul'20

Basic Prices in INR/t & excluding GST @ 18%

Source: SteelMint Research