Sponge iron & Billet prices in spot market fell by INR 100-300/MT today in major locations, except in western India. Also rebar prices in major locations moved down on average of INR 100-300/MT, on D-o-D basis.
SteelMint’s price assessment for induction furnaces billet in Indian market stood at INR 28,400-31,400/MT (USD 377-418) EXW.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 16,000-17,100/MT (USD 212-227); prices are EXW & excluding GST.
Rupee & BSE Sensex
— On 2nd June 2020 (Tuesday) INR to USD exchange rate stood at INR 75.20.
— ICEX (Indian Commodity Exchange Ltd) Jul’20 contract for STEELLONG today open at INR 30,900/MT & last traded (IST 17:42 hrs) at INR 30,680/MT.
— BSE Sensex closed at 33,825(+522) on Tuesday, as against last day (Monday) at 33,303(+879).
— NSE Nifty50 index was closed today at 9,979(+152) & Nifty Metal at 1,956(+3).
Raw Material
— BMM Ispat located in Bellary, Karnataka sold around 10,000 MT pellets in nearby market at INR 6,000/MT EXW in the last day.
— Raipur based manufacturers have offered 60-14 Silico Manganese at INR 61,500/MT EXW.
— Melting scrap offers in Western India- Gujarat incline by INR 400/MT in a day trade activity.
Semi Finished
— Mid scale mills billet export offers stable at USD 375/MT ex-mill at Durgapur, equivalent to USD 405/MT CPT Nepal.
— Bokaro, Jharkhand based a primary mill is planning to roll-over prices for June deliveries. Last month offers for wire rod (SAE 1008, size 5.5mm) reported at INR 35,000-35,500/MT ex-plant.
— Durgapur based Neo Metaliks has kept steel grade pig iron offers firm at INR 23,800/MT ex-plant. Few deals reported in the local market by officials.
— Raipur based sponge producers have kept P-DRI offers firm at around INR 16,200/MT ex-plant & limited deals reported in local market due to healthy orders yesterday.
— Rashmi Metaliks has reduced sponge P-DRI offers by INR 100-200/MT to INR 17,000/MT FoR Durgapur, as per sources.
— Aloke Steel Industries (Jharkhand) offered Fem 78-80 C-DRI lumps at INR 17,500/MT & Sponge mix material (60:40) at INR 17,200/MT ex-plant.
— BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 16,500/MT & INR 16,800/MT ex-plant, Karnataka; an official reported.
Rebar (12 mm)
— Rathi Stelmax Steel is offering at INR 38,000/MT EXW (North Region).
— Real Ispat GK TMT is offering at INR 36,800/MT EXW Raipur (Down by INR 200/MT).
— Bajrangbali Steel Industries Pvt Ltd in Rourkela is offering Rebar at INR 34,700/MT EXW.
— Scan Group branding (Shrishti TMT) has kept offers unaltered at INR 35,000/MT EXW (Raigarh).
— Anjani Steels Ltd. (Radhe TMT) is current offering at INR 35,100/MT EXW (Raigarh).
— Rajuri Steel Pvt. Ltd. (Rajuri TMT) has unchanged their offer at INR 36,200/MT EXW (Jalna).
— Mono Steel (India) Ltd. (Mono TMT) is offering at INR 35,300/MT FoR (Ahmedabad).
— Prakash Ferrous Ind. Pvt. Ltd (Tirumala) is offering at INR 37,000/MT EXW (Chennai).
— In heavy structural steel, trade discount maintained by Raipur based manufacturers is at INR 600-1,000/MT and trade reference prices at INR 36,300-36,700/MT (200 Angle) EXW
Wire Rod & Pipe
— Trade discounts in Raipur wire rod increased by INR 200-300/MT to around INR 800/MT through the traders and base price up by INR 300/MT to INR 33,500/MT ex-Raipur. However in Durgapur trade reference price went down by INR 200/MT to INR 32,900-33,200/MT ex-plant.
— ERW Pipe offers fluctuated by INR 200-400/MT to INR 36,000/MT ex-Raipur, INR 37,800-38,000/MT ex-Mandi Gobindgarh & INR 36,000-36,200/MT ex-Rourkela.
Reference prices as on 2nd Jun’20
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 22,000 | 21,900 | 22,100 | + 400 | 22,000 | 22,600 |
| Ex-Mumbai | HMS(80:20) | 21,000 | 20,800 | 21,200 | 0 | 20,500 | 22,500 | |
| Ex-Chennai | HMS(80:20) | 21,000 | 20,800 | 21,200 | 0 | 21,000 | 21,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,900 | 16,800 | 17,000 | – 300 | 17,800 | 17,300 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,500 | 16,700 | 0 | 16,600 | 16,400 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,100 | 17,000 | 17,200 | 0 | 17,400 | 17,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,000 | 15,900 | 16,000 | – 200 | 16,100 | 16,450 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,900 | 15,800 | 16,000 | – 300 | 16,800 | 16,400 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,150 | 16,100 | 16,200 | – 50 | 16,450 | 16,750 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,950 | 15,900 | 16,000 | – 150 | 16,100 | 16,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | – 100 | 16,900 | 16,800 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,200 | 31,100 | 31,300 | – 350 | 31,200 | 29,650 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,900 | 27,800 | 28,000 | – 200 | 28,300 | 26,150 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,000 | 27,900 | 28,100 | + 50 | 28,200 | 25,750 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,600 | 28,500 | 28,700 | – 100 | 29,100 | 26,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,900 | 28,800 | 29,000 | + 100 | 29,300 | 28,300 | |
| Billet | Ex-Mandi Gobindgarh | 100x100mm, IS 2831 | 31,400 | 31,300 | 31,500 | – 300 | 31,300 | 29,800 |
| Ex-Durgapur | 100x100mm, IS 2831 | 28,400 | 28,300 | 28,500 | – 200 | 28,800 | 26,600 | |
| Ex-Rourkela | 100x100mm, IS 2831 | 28,600 | 28,500 | 28,700 | + 150 | 28,600 | 26,100 | |
| Ex-Raipur | 100x100mm, IS 2831 | 29,100 | 29,000 | 29,200 | – 100 | 29,600 | 26,400 | |
| Ex-Ahmedabad | 100x100mm, IS 2831 | 29,400 | 29,300 | 29,600 | + 100 | 29,400 | 28,400 | |
| Ex-Mumbai | 100x100mm, IS 2831 | 29,300 | 29,200 | 29,400 | + 100 | 29,600 | 28,800 | |
| Ex-Chennai | 100x100mm, IS 2831 | 30,200 | 30,100 | 30,400 | – 300 | 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 | 37,100 | 37,000 | 37,400 | + 500 | NA | NA |
| Ex-Durgapur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,000 | 33,800 | 34,200 | – 200 | 34,200 | 31,400 | |
| Ex-Rourkela | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,700 | 34,600 | 34,800 | 0 | 35,200 | 32,200 | |
| Ex-Raipur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,900 | 34,700 | 35,000 | – 100 | 35,500 | 32,800 | |
| Ex-Jalna | 12-25mm, Induction Grade, IS 1786- 500 Fe | 36,000 | 35,800 | 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 | 36,000 | 36,400 | 0 | 36,700 | NA | |
| Ex-Hyderabad | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,500 | 34,400 | 34,600 | 0 | 35,500 | 34,500 | |
| Wire Rod | Ex-Durgapur | 5.5 mm, Wire Rod, Induction grade | 33,000 | 32,900 | 33,400 | – 200 | 33,400 | 30,500 |
| Ex-Raipur | 5.5 mm, Wire Rod, Induction grade | 33,100 | 32,700 | 33,500 | + 100 | 33,900 | 30,700 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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