Indian billet & sponge iron prices fell further in major locations by INR 100-300/t except in central India – Raipur where sponge prices remained strong and surged about INR 400/t due to renewed buying amid supply shortage in spot market.
In context to rebar, prices dipped by INR 100-400/t with majority of markets assessed fall of INR 200-400/t due to poor off take along with limited inquiries.
SteelMint’s price assessment for induction furnaces billet in Indian market stood at INR 26,900-30,900/t ($356-409) EXW.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,400-17,000/t ($203-225); prices are EXW & excluding GST.
Rupee & BSE Sensex
— On 30th June 2020 (Tuesday) INR to USD exchange rate stood at INR 75.55.
— ICEX (Indian Commodity Exchange Ltd) Aug’20 contract for STEELLONG today open at INR 30,200/t & last traded (IST 17:30 hrs) at INR 30,110/t.
— BSE Sensex closed at 34,915(-45) on Tuesday, as against last day (Monday) at 34,961(-209).
— NSE Nifty50 index was closed today at 10,302(-10) & Nifty Metal at 1,991(+1).
Raw Material
— Serajuddin has increased iron ore lump (5-8 mm, Fe 63%) offers by INR 300/t ($ 4) effective from today (30 Jun’20) to INR 3,800/t (ex-mines, including Royalty, DMF, & NMET)
— NMDC has raised iron ore prices w.e.f today (30 Jun’20). Prices of lump and fines have been increased by INR 200/t and that of DR CLO by INR 240/t from its Chhattisgarh mines.
— Monnet Ispat sold around 50-60t Silico Manganese (60-14) at INR 61,750/t EXW, Raipur- Officials.
Semi Finished
— Mid scale mills export offers to Nepal slightly fall to $350-353/t for billet & $405-407/t for Wire rod, ex-mill at Durgapur.
— Neo Metaliks in Durgapur has kept steel grade pig iron prices firm at INR 24,400-500/t EXW.
— SAIL auction of 3,000t steel grade pig iron today from Bhilai Steel Plant (BSP) has received good response as the bids for entire quantity fetches in the range of INR 23,000-23,200/t EXW, as per participants.
— Raipur based sponge producers have reported healthy orders for P-DRI at INR 15,700-900/t, hence offers raised today by INR 300-400/t to INR 16,000-16,100/t, EXW.
— Rashmi Metaliks has further lowered sponge P-DRI offers by INR 300/t to INR 15,700/t FoR Durgapur, as per sources.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,000/t & Billet at INR 26,700-26,800/t EXW.
— Raigarh based Singhal Steel offered P-DRI at INR 15,500/t & Billet at INR 26,900/t ex-Raigarh.
— Billet deals reported at INR 27,600-27,700/t FoR Raipur from Raigarh based manufacturers.
— BIOP Steels in South India has kept offers unaltered; offering FeM 80 & 82 C-DRI lumps at INR 15,400/t & INR 15,700/t EXW, Karnataka.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,100/t ex-Bellary & around 2,500 t deals reported in nearby region.
Rebar (12 mm)
— Rathi Stelmax TMT is offering at INR 34,500/t EXW Delhi/NCR.
— Paras TMT offers at INR 33,500/t EXW Muzaffarnagar.
— GK TMT offering at INR 33,300/t EXW Raipur (Down by INR 400/t).
— Scan Group (Shrishti TMT) is offering at INR 31,300/t EXW Raigarh.
— BS Sponge (BS TMX TMT) is offering at INR 30,600/t EXW Raigarh.
— Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 31,100-31,200/t EXW Rourkela.
— Odisha based Shubhlabh TMT offers reported at INR 31,300-31,400/MT EXW.
— Kalika TMT is offering at INR 32,500/t EXW Jalna (Down by INR 300/t).
— Diamond TMT offers at INR 34,000/t FoR Ahmedabad.
— Hyderabad based Shalini Steels (SS GOLD TMT) increased offers by INR 200-300/t to INR 33,000/t post deals of around 2,000 t at INR 32,700-800/t EXW.
— Trade discount given by Raipur based heavy structure manufacturers is at INR 600-800/t and trade price of 200 Angle is at INR 34,100-34,400/t EXW.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod is hovering at INR 1,000-1,200/t, also base price firm at INR 31,500/t EXW. However, in Durgapur trade reference prices drop by INR 200/t to INR 31,300-700/t EXW.
Reference prices as on 30th Jun’20
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 20,800 | 20,700 | 20,900 | – 100 | 21,000 | 22,000 |
| Ex-Mumbai | HMS(80:20) | 20,000 | 19,900 | 20,200 | + 100 | 19,400 | 21,000 | |
| Ex-Chennai | HMS(80:20) | 21,200 | 21,100 | 21,400 | 0 | 21,000 | 21,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,600 | 16,500 | 16,700 | – 200 | 16,500 | 16,900 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | – 100 | 15,600 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | + 400 | 15,900 | 17,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,400 | 15,300 | 15,500 | 0 | 15,400 | 16,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,600 | 15,500 | 15,700 | – 300 | 15,500 | 15,900 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,000 | 15,900 | 16,100 | + 400 | 15,000 | 16,150 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,100 | 15,000 | 15,200 | 0 | 15,100 | 15,950 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 15,600 | 15,500 | 15,700 | 0 | 15,600 | 16,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,750 | 30,700 | 30,800 | – 150 | 30,550 | 31,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,150 | 27,100 | 27,200 | – 250 | 27,000 | 27,900 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,700 | 26,600 | 26,800 | 0 | 26,250 | 28,000 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,350 | 27,300 | 27,400 | 0 | 27,000 | 28,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,200 | 27,100 | 27,300 | – 200 | 27,100 | 28,900 | |
| Billet | Ex-Mandi Gobindgarh | 100x100mm, IS 2831 | 30,900 | 30,800 | 31,000 | – 100 | 30,700 | 31,400 |
| Ex-Durgapur | 100x100mm, IS 2831 | 27,400 | 27,300 | 27,500 | – 300 | 27,500 | 28,400 | |
| Ex-Rourkela | 100x100mm, IS 2831 | 26,900 | 26,800 | 27,000 | 0 | 26,600 | 28,600 | |
| Ex-Raipur | 100x100mm, IS 2831 | 27,450 | 27,400 | 27,500 | – 150 | 27,300 | 29,100 | |
| Ex-Ahmedabad | 100x100mm, IS 2831 | 28,500 | 28,400 | 28,600 | – 100 | 28,500 | 29,400 | |
| Ex-Mumbai | 100x100mm, IS 2831 | 27,400 | 27,300 | 27,500 | – 200 | 27,400 | 29,300 | |
| Ex-Chennai | 100x100mm, IS 2831 | 29,500 | 29,300 | 29,600 | + 100 | 29,500 | 30,200 | |
| Ex-Hyderabad | 100x100mm, IS 2831 | 28,500 | 28,400 | 28,600 | + 500 | 27,500 | 29,500 | |
| TMT | Ex-Delhi/NCR | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,500 | 34,200 | 34,600 | – 400 | 34,500 | 37,100 |
| Ex-Durgapur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 31,600 | 31,400 | 31,800 | – 400 | 31,700 | 34,000 | |
| Ex-Rourkela | 12-25mm, Induction Grade, IS 1786- 500 Fe | 31,100 | 30,900 | 31,200 | – 200 | 31,400 | 34,700 | |
| Ex-Raipur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 30,900 | 30,800 | 31,000 | – 400 | 30,900 | 34,900 | |
| Ex-Jalna | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,200 | 31,900 | 32,300 | – 400 | 32,400 | 36,000 | |
| Ex-Mumbai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 31,600 | 31,300 | 31,700 | 0 | 31,600 | 34,100 | |
| Ex-Chennai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 35,400 | 35,200 | 35,600 | 0 | 35,600 | 36,200 | |
| Ex-Hyderabad | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,700 | 32,500 | 32,800 | + 400 | 32,000 | 34,500 | |
| Wire Rod | Ex-Durgapur | 5.5 mm, Wire Rod, Induction grade | 31,400 | 31,300 | 31,800 | – 200 | 30,800 | 33,200 |
| Ex-Raipur | 5.5 mm, Wire Rod, Induction grade | 31,000 | 30,500 | 31,500 | 0 | 29,900 | 33,000 |
Basic prices in INR/t & excluding of GST @ 18%
Source: SteelMint Research
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