Indian sponge iron, billet & rebar prices fluctuated slightly by INR 100-300/t today due to average trade inquiries. The sponge iron & billet producers reported sufficient orders in hand as the demand was good since the prices started to gain.
SteelMint’s price assessment for induction furnaces billet in Indian market stood at INR 27,000-30,000/t ($357-397) EXW.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,400-16,800/t ($203-222); prices are EXW & excluding GST.
Rupee & BSE Sensex
— On 26th June 2020 (Friday) INR to USD exchange rate stood at INR 75.64.
— ICEX (Indian Commodity Exchange Ltd) Jul’20 contract for STEELLONG today open at INR 30,230/t & last traded (IST 18:36 hrs) at INR 30,160/t.
— BSE Sensex closed at 35,171(+329) on Friday, as against last day (Thursday) at 34,842(-26).
— NSE Nifty50 index was closed today at 10,383(+94) & Nifty Metal at 2,043(+12).
Raw Material
— SAIL conducted an auction for 1,100t silico manganese (0-3 & 3-10 mm) from its Chandrapur plant & the entire quantity have been booked at around INR 28,500-28,550/t & INR 46,950-47,550/t EXW, respectively.
Semi Finished
— SAIL is to conduct an auction for around 4,000t steel grade pig iron on 29 Jun’20 from its Rourkela steel plant.
— SAIL has floated an export tender for 30,000t mild steel non alloys concast slab (Q235B/SS400) from its Rourkela steel plant. The due date for bids is 30 Jun’20.
— Durgapur based Neo Metaliks has further raised steel grade pig iron price by INR 500/t to INR 24,000/t ExW, however no fresh deals on revised offers, as per officials.
— Rashmi Metaliks has slightly raised sponge P-DRI price by INR 100/t to INR 16,000/t FoR Durgapur, as per sources.
— Sponge P-DRI manufacturers in Raipur have kept offers firm at INR 15,600-15,700/t EXW & few deals reported in local market by major merchant suppliers.
— Raigarh based Singhal Steel has offered P-DRI at INR 15,600-15,700/t & Billet at INR 27,300/t EXW.
— Ind Synergy (Raigarh) offered P-DRI at INR 15,500/t & Billet at INR 27,200/t ex-plant, officials reported.
— Bhaskar Steel and Ferro Alloy Ltd is offering billet at INR 26,700-26,800/t EXW.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 14,900-15,100/t ex-Bellary & around 4,000 t deals reported in nearby region.
— BIOP Steels in South India has increased sponge prices by INR 100/t, offering FeM 80 & 82 C-DRI lumps at INR 15,500/t & INR 15,900/t EXW, Karnataka; an official reported.
Rebar (12 mm)
— Swarup TMT offers at INR 33,700/t EXW Muzaffarnagar (Down by INR 100/t).
— Scan Group (Shrishti TMT) is offering at INR 31,800/t EXW Raigarh.
— Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 31,600/t EXW Rourkela.
— Polaad TMT is offering at INR 33,000/t EXW Jalna (Up by INR 300/t).
— Mono TMT offers at INR 33,700/t FoR Ahmedabad (Up by INR 200/t).
— Trade discount by Raipur based heavy structure manufacturers is at INR 500-800/t and trade price of 200 Angle is at INR 34,100-34,500/t EXW
Wire Rod & Pipe
— Trade discount in Raipur wire rod up by INR 200-300/t to INR 700-800/t, also base prices up by INR 400/t to INR 31,500/t EXW. While in Durgapur trade reference prices firm at INR 31,400-31,800/t EXW.
— ERW Pipe manufacturers have increased offers by INR 500/MT to INR 34,400-34,500/MT ex-Raipur.
Reference prices as on 26th Jun’20
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 21,200 | 21,100 | 21,300 | + 200 | 21,500 | 21,800 |
| Ex-Mumbai | HMS(80:20) | 19,800 | 19,700 | 20,000 | + 100 | 19,500 | 20,700 | |
| Ex-Chennai | HMS(80:20) | 21,300 | 21,100 | 21,400 | 0 | 21,000 | 21,100 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,850 | 16,800 | 16,900 | + 50 | 16,250 | 17,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 15,950 | 15,900 | 16,000 | + 200 | 15,400 | 16,450 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | + 100 | 15,800 | 17,000 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,400 | 15,300 | 15,500 | 0 | 15,200 | 16,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,850 | 15,800 | 15,900 | + 50 | 15,300 | 16,450 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,600 | 15,500 | 15,700 | 0 | 14,800 | 16,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,000 | 14,900 | 15,100 | – 200 | 14,800 | 16,400 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 15,600 | 15,500 | 15,700 | – 100 | 15,500 | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,750 | 30,700 | 30,800 | – 100 | 30,150 | 31,200 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,200 | 27,100 | 27,300 | – 50 | 26,750 | 28,000 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,600 | 26,500 | 26,700 | 0 | 26,400 | 27,950 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,500 | 27,400 | 27,600 | 0 | 27,000 | 28,600 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,600 | 27,500 | 27,700 | + 200 | 26,800 | 29,000 | |
| Billet | Ex-Mandi Gobindgarh | 100x100mm, IS 2831 | 30,900 | 30,800 | 31,000 | – 100 | 30,200 | 31,400 |
| Ex-Durgapur | 100x100mm, IS 2831 | 27,700 | 27,600 | 27,800 | – 50 | 27,200 | 28,500 | |
| Ex-Rourkela | 100x100mm, IS 2831 | 27,000 | 26,900 | 27,100 | + 100 | 26,800 | 28,400 | |
| Ex-Raipur | 100x100mm, IS 2831 | 27,800 | 27,700 | 27,900 | – 50 | 27,300 | 29,100 | |
| Ex-Ahmedabad | 100x100mm, IS 2831 | 28,700 | 28,600 | 28,800 | 0 | 28,200 | 28,900 | |
| Ex-Mumbai | 100x100mm, IS 2831 | 27,900 | 27,800 | 28,000 | 0 | 27,100 | 29,300 | |
| Ex-Chennai | 100x100mm, IS 2831 | 29,500 | 29,400 | 29,700 | 0 | 29,500 | 30,700 | |
| Ex-Hyderabad | 100x100mm, IS 2831 | 28,000 | 27,900 | 28,100 | 0 | 27,500 | 29,500 | |
| TMT | Ex-Delhi/NCR | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,900 | 34,700 | 35,100 | + 300 | 34,900 | NA |
| Ex-Durgapur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,000 | 31,800 | 32,200 | 0 | 31,800 | 34,300 | |
| Ex-Rourkela | 12-25mm, Induction Grade, IS 1786- 500 Fe | 31,500 | 31,400 | 31,600 | + 100 | 32,000 | 35,200 | |
| Ex-Raipur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 31,300 | 31,200 | 31,500 | + 300 | 31,600 | 35,300 | |
| Ex-Jalna | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,800 | 32,700 | 33,000 | + 200 | 32,500 | 36,400 | |
| Ex-Mumbai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 31,600 | 31,400 | 31,700 | 0 | 32,400 | 34,100 | |
| Ex-Chennai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 35,500 | 35,400 | 35,700 | – 100 | 35,600 | 36,300 | |
| Ex-Hyderabad | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,200 | 32,000 | 32,300 | – 300 | 32,300 | 34,500 | |
| Wire Rod | Ex-Durgapur | 5.5 mm, Wire Rod, Induction grade | 31,500 | 31,400 | 32,000 | 0 | 31,600 | 33,500 |
| Ex-Raipur | 5.5 mm, Wire Rod, Induction grade | 31,100 | 30,700 | 31,500 | + 300 | 30,500 | 33,700 |
Basic prices in INR/t & excluding of GST @ 18%
Source: SteelMint Research
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