Spot prices of billet moved up by INR 200-400/MT, while sponge iron by INR 100-200/MT in the central, east & northern India. However rebar prices fluctuated by INR 100-300/MT on account of average inquiries, as stated by participants.
Sources reported that the industry participants are awaiting price announcement of primary mills for the month of Jun’20.
SteelMint’s price assessment for induction furnaces billet in Indian market stood at INR 28,400-31,700/MT (USD 376-420). Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 16,200-17,200/MT (USD 214-228); prices are EXW & excluding GST.
Rupee & BSE Sensex
— On 1st June 2020 (Monday) INR to USD exchange rate stood at INR 75.52.
— ICEX (Indian Commodity Exchange Ltd) Jun’20 contract for STEELLONG today open at INR 30,200/MT & last traded (IST 17:24 hrs) at INR 30,900/MT.
— BSE Sensex closed at 33,303(+879) on Monday, as against last day (Friday) at 32,424(+223).
— NSE Nifty50 index was closed today at 9,826(+245) & Nifty Metal at 1,952(+72).
Raw Material
— Raipur based manufacturers have offered 60-14 Silico Manganese at INR 61,500/MT EXW.
Semi Finished
— Mid scale mills billet export offers hovering at USD 375/MT ex-mill at Durgapur, equivalent to USD 405/MT CPT Nepal.
— Durgapur based Neo Metaliks has slightly lower steel grade pig iron offers by INR 100-200/MT to INR 23,800/MT ex-plant.
— Raipur based sponge producers have kept P-DRI offers firm at INR 16,200/MT ex-plant & total of around 5,000-6,000 MT deals reported in local market by few major producers.
— Rashmi Metaliks has increased sponge C-DRI offers by INR 100/MT to INR 17,200/MT FoR Durgapur, as per sources.
— Raigarh based Singhal Steel offered P-DRI at INR 15,900/MT & Billet at INR 28,600/MT ex-plant.
— Billet deals reported at INR 29,300-29,400/MT FoR Raipur from Raigarh based manufacturers.
— BIOP Steels in Karnataka is offering FeM 80 & 82 C-DRI lumps at INR 16,500/MT & INR 16,800/MT ex-plant.
— Hare Krishna, a 300 TPD sponge manufacturer in Karnataka is offering FeM 79-80 P-DRI at INR 16,200-400/MT ex-plant.
Rebar (12 mm)
— Real Ispat GK TMT is offering at INR 37,000/MT EXW-Raipur (Down by INR 300/MT).
— Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 34,700/MT EXW-Rourkela.
— Shubhlabh TMT offers reported at INR 34,900/MT EXW-Odisha.
— Scan Group branding (Shrishti TMT) is offering at INR 35,000/MT EXW-Raigarh.
— Bhagyalaxmi Rolling Mill Pvt Ltd (Polaad TMT) offering at INR 36,300/MT EXW-Jalna.
— Shreeyam Power & Steel Industries Ltd. (National TMT) is offering at INR 35,800/MT FoR Ahmedabad.
— In heavy structural steel, trade discount maintained by Raipur based manufacturers at INR 500-800/MT and trade reference prices at INR 36,200-36,600/MT (200 Angle) EXW.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod assessed at INR 400-600/MT through the traders and base price drop by INR 400/MT to INR 33,200/MT ex-Raipur. However base price was firm in Durgapur at INR 33,000-33,500/MT ex-plant.
— ERW Pipe manufacturers have decreased offers by INR 300/MT to INR 36,000/MT ex-Raipur.
Reference prices as on 1st Jun’20
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,600 | 21,500 | 21,700 | 0 | 22,100 | 22,600 |
| Ex-Mumbai | HMS(80:20) | 21,000 | 20,900 | 21,200 | + 100 | 20,500 | 22,500 | |
| Ex-Chennai | HMS(80:20) | 21,000 | 20,800 | 21,100 | – 100 | 21,100 | 21,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,200 | 17,100 | 17,300 | + 100 | 17,300 | 17,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | + 200 | 16,300 | 16,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | + 100 | 17,200 | 17,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | 0 | 16,100 | 16,450 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,200 | 16,100 | 16,300 | + 100 | 16,400 | 16,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,200 | 16,100 | 16,300 | + 100 | 16,200 | 16,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | – 100 | 16,100 | 16,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,900 | 16,800 | 17,000 | 0 | 16,800 | 16,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,550 | 31,500 | 31,600 | + 350 | 31,000 | 29,650 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,100 | 28,000 | 28,200 | + 300 | 27,600 | 26,150 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 27,950 | 27,900 | 28,000 | + 250 | 27,800 | 25,750 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,700 | 28,600 | 28,800 | + 200 | 29,000 | 26,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,800 | 28,700 | 28,900 | 0 | 29,000 | 28,300 | |
| Billet | Ex-Mandi Gobindgarh | 100x100mm, IS 2831 | 31,700 | 31,600 | 31,800 | + 300 | 31,100 | 29,800 |
| Ex-Durgapur | 100x100mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 300 | 28,150 | 26,600 | |
| Ex-Rourkela | 100x100mm, IS 2831 | 28,450 | 28,400 | 28,500 | + 200 | 28,500 | 26,100 | |
| Ex-Raipur | 100x100mm, IS 2831 | 29,200 | 29,100 | 29,300 | + 200 | 29,400 | 26,400 | |
| Ex-Ahmedabad | 100x100mm, IS 2831 | 29,300 | 29,300 | 29,500 | + 400 | 28,900 | 28,400 | |
| Ex-Mumbai | 100x100mm, IS 2831 | 29,200 | 29,100 | 29,300 | 0 | 29,300 | 28,800 | |
| Ex-Chennai | 100x100mm, IS 2831 | 30,500 | 30,400 | 30,600 | – 200 | 31,000 | 30,000 | |
| Ex-Hyderabad | 100x100mm, IS 2831 | 29,500 | 29,400 | 29,600 | 0 | 30,000 | 28,000 | |
| TMT | Ex-Delhi/NCR | 12-25mm, Induction Grade, IS 1786- 500 Fe | 36,600 | 36,400 | 36,800 | + 300 | NA | NA |
| Ex-Durgapur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,200 | 34,000 | 34,400 | + 200 | 33,800 | 31,000 | |
| Ex-Rourkela | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,700 | 34,600 | 34,800 | – 200 | 34,500 | 31,800 | |
| Ex-Raipur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 35,000 | 34,800 | 35,000 | + 100 | 35,600 | 32,000 | |
| Ex-Jalna | 12-25mm, Induction Grade, IS 1786- 500 Fe | 36,100 | 35,900 | 36,200 | – 100 | 36,500 | NA | |
| Ex-Mumbai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,100 | 33,900 | 34,300 | 0 | 34,200 | NA | |
| Ex-Chennai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 36,200 | 36,100 | 36,400 | – 100 | 36,700 | NA | |
| Ex-Hyderabad | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,500 | 34,400 | 34,600 | + 200 | 35,000 | 34,000 | |
| Wire Rod | Ex-Durgapur | 5.5 mm, Wire Rod, Induction grade | 33,200 | 33,000 | 33,500 | 0 | 32,800 | 30,000 |
| Ex-Raipur | 5.5 mm, Wire Rod, Induction grade | 33,000 | 32,700 | 33,200 | – 300 | 33,300 | 30,000 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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