Indian Spot steel trades gradually improved and the prices rise by INR 300-1,300/MT day on day
SteelMint’s price assessment for induction furnaces billet in Indian market stood at INR 28,100-31,100/MT (USD 370-410) EXW.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 16,100-17,300/MT (USD 212-228); prices are EXW & excluding GST.
Rupee & BSE Sensex
— On 25th May 2020 (Monday) INR to USD exchange rate stood at INR 75.91.
— ICEX (Indian Commodity Exchange Ltd) Jun’20 contract for STEELLONG today open at INR 30,800/MT & last traded (IST 17:30 hrs) at INR 30,800/MT.
Key Trades
— Steel grade pig iron prices through the private mills in Durgapur are assessed at INR 23,800-24,000/MT EXW.
— Ludhiana, North India based trade participants reported steel & foundry grade pig iron offers at INR 26,600-26,700/MT & INR 30,000/MT on FoR basis & excluding 18% GST.
— Sponge P-DRI offers in Raipur increased by INR 200-300/MT to INR 16,300-16,400/MT, however buying interest learned at INR 16,200/MT EXW.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 16,000-16,200/MT ex-Bellary & around 5,000 MT deals reported in nearby region.
— Real Ispat (GK TMT) is offering at INR 37,500/MT EXW (Raipur).
— Rajuri Steel Pvt. Ltd. (Rajuri TMT) is offering at INR 36,500/MT EXW (Jalna).
— Bajrangbali Steel Industries Pvt Ltd in Odisha is offering Rebar at INR 34,700/MT EXW.
— Rathi Stelmax Steel is offering at INR 37,200/MT EXW (North Region).
— Swarup Rolling Mills is offering at INR 35,300/MT EXW (Muzaffarnagar)
— Diamond TMT & Procon Pvt. Ltd. is offering at INR 35,500/MT FoR. (Gujarat).
— South region based Sakthi Ferro Alloys India Pvt. Ltd. (SSI TMT) is current offering at INR 36,000/MT EXW.
— In heavy structural steel, trade discount maintained by Raipur based manufacturers is at INR 700-1,000/MT and trade reference prices at INR 35,900-36,300/MT (200 Angle) EXW.
— Trade discounts in Raipur wire rod maintained up to INR 300-500/MT by trader participants and current trade registered at and base offers stood at INR 33,800/MT ex-Raipur.
— ERW Pipe manufacturers have increased offers by INR 1000/MT to INR 36,500-36,700/MT ex-Raipur.
Leave a Reply