Spot billet prices remained strong and increased by INR 200-300/MT across regions except in southern India, where the prices unchanged on day trade activities. Similarly rebar & sponge iron prices slightly fluctuated by INR 100-200/MT, day-on-day in major locations.
As per trade sources, average inquiries resulted in slight change in offers since a few days, however future bookings remained limited among mid scale mills in central & eastern India.
SteelMint’s price assessment for induction furnaces billet in Indian market stood at INR 28,800-32,000/MT (USD 381-424) EXW.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,900-17,500/MT (USD 210-232); prices are EXW & excluding GST.
Rupee & BSE Sensex
— On 9th June 2020 (Tuesday) INR to USD exchange rate stood at INR 75.52.
— ICEX (Indian Commodity Exchange Ltd) Jul’20 contract for STEELLONG today open at INR 30,850/MT & last traded (IST 18:04 hrs) at INR 30,900/MT.
— BSE Sensex closed at 33,956(-413) on Tuesday, as against last day (Monday) at 34,370(+83).
— NSE Nifty50 index was closed today at 10,046(-120) & Nifty Metal at 2,022(-22).
Raw Material
— A Goa based sponge manufacturer booked around 5,000 MT pellets at INR 6,000/MT on FoR basis from Karnataka.
— Monnet Ispat offered 60-14 Silico Manganese at INR 60,500/MT ex-plant, Raipur- Officials.
Semi Finished
— SAIL’s basic grade pig iron auction from IISCO Steel Plant, Burnpur, eastern India has received bid at around INR 24,000/MT ex-plant, participants reported.
— Bokaro based Electrosteels has raised steel grade pig iron price at INR 24,000/MT ex-plant & few deals reported in local market.
— Kharagapur (Durgapur) based Rashmi Metaliks has further raised sponge P-DRI prices by INR 100-200/MT to INR 16,600-700/MT FoR, as per sources.
— Neo Metaliks in Durgapur has further raised steel grade pig iron price by INR 200-300/MT to INR 24,500-600/MT ex-plant.
— Raipur based sponge manufacturers have kept P-DRI offers unchanged at INR 16,100-200/MT, however few deals learned at INR 16,000-16,100/MT ex-plant.
— Central India – Raipur based Monnet Ispat sold around 500 MT Sponge DR-CLO at INR 17,700/MT & 300 MT C-DRI fines (FeM 80) at 16,400/MT on ex-plant basis in local market, according to officials.
— Billet deals reported at INR 29,600/MT FoR Raipur from Raigarh based manufacturers.
— Raigarh based Singhal Steel offered P-DRI at INR 15,800/MT & Billet at INR 29,000/MT ex-Raigarh.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,700/MT & Billet at INR 28,500/MT EXW.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 17,200/MT & Sponge mix material (60:40) at INR 16,900/MT EXW & around 1,100 MT deals reported in nearby region.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 15,700/MT ex-plant.
— BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 16,300/MT & INR 16,600/MT ex-plant, Karnataka & around 1,100 MT sponge iron deals reported in Hindupur & Jalna region.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,500-15,600/MT ex-Bellary & around 5,000 MT deals reported in nearby region.
Rebar (12 mm)
— Rathi Stelmax Steel has unchanged their offer at INR 37,700/MT EXW (North Region).
— Real Ispat (GK TMT) is offering at INR 36,700/MT EXW Raipur (Up by INR 100/MT).
— Scan Group branding (Shrishti TMT) is offering at INR 34,500/MT EXW (Raigarh).
— Bajrangbali Steel Industries Pvt Ltd in Rourkela is offering Rebar at INR 35,200/MT EXW.
— Swarup Rolling Mills Limited (Swarup TMT) is offering at INR 34,800/MT EXW (Muzaffarnagar).
— Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 35,300/MT EXW Jalna (Down by INR 200/MT).
— Gujarat based Kalima Steel Crown-x TMT Bars is offering at INR 35,800/MT FoR.
— Chennai based ARS Steel (ARS 550 D) currently offers at INR 39,000/MT.
— J.R. Metal Chennai Ltd. (JR TMT) offers at INR 36,300/MT EXW.
— In heavy structural steel, trade discount maintained by Raipur based manufacturers is at INR 300-500/MT and trade reference prices at INR 35,600-35,900/MT (200 Angle) EXW.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod firm at around INR 600/MT through the traders, also base prices unchanged at INR 33,400/MT ex-plant. However in Durgapur trade reference prices increased by INR 200/MT to INR 33,500-34,000/MT ex-plant.
— ERW Pipe Manufacturers have increased offers by INR 200-300/MT to INR 36,200/MT ex-Raipur, INR 38,200/MT ex-Mandi Gobindgarh & INR 36,800/MT ex-Rourkela.
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