Indian sponge iron & billet prices fell marginally by INR 100-200/t, while rebar prices decreased by INR 100-300/t, d-o-d basis in major locations.
Sources mentioned that due to falling spot trades, slight price corrections were noticed, however standalone sponge iron & billet producers in central & eastern India reported to have sufficient orders in hand.
SteelMint’s price assessment for induction furnaces billet in Indian market stood at INR 26,900-31,000/t ($356-410) EXW.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,400-16,800/t ($203-223); prices are EXW & excluding GST.
Rupee & BSE Sensex
— On 29th June 2020 (Monday) INR to USD exchange rate stood at INR 75.54.
— ICEX (Indian Commodity Exchange Ltd) Jul’20 contract for STEELLONG today open at INR 29,900/t & last traded (IST 18:30 hrs) at INR 29,750/t.
— BSE Sensex closed at 34,961(-209) on Monday, as against last day (Friday) at 35,171(+329).
— NSE Nifty50 index was closed today at 10,312(-70) & Nifty Metal at 1,989(-53).
Raw Material
— Karnataka iron ore e-auction from merchant miners scheduled on 26th June for 1.21 mn t received no participation.
Semi Finished
— Rashmi Metaliks has kept sponge P-DRI prices firm at around INR 16,000/t FoR Durgapur, as per sources.
— Neo Metaliks in Durgapur has further raised steel grade pig iron price by INR 200-300/t to INR 24,400-500/t ex-plant.
— SAIL pig iron auction of 4,000t today from Rourkela Steel Plant (RSP) has received good response as the entire quantity booked in the range of INR 22,700-900/t ex-plant, as per participants.
— SAIL has floated an auction for 5,700t OG grade pig iron from its Bokaro Steel Plant, Jharkhand. The auction is scheduled to take place on 1 Jul’20.
— Raipur based major sponge producers have increased P-DRI offers by INR 100/t to INR 15,600-800/t, however few deals reported at INR 15,600/t, ex-plant.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,000/t & Billet at INR 26,800/t EXW.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,000-15,100/t ex-Bellary & around 1,000 t deals reported in nearby region.
— BIOP Steels in South India has decreased sponge prices by INR 100/t, offering FeM 80 & 82 C-DRI lumps at INR 15,400/t & INR 15,700/t ex-plant, Karnataka; an official reported.
Rebar (12 mm)
— Paras TMT offers at INR 33,600/t EXW Muzaffarnagar.
— GK TMT offers at INR 33,700/t EXW Raipur.
— Scan Group (Shrishti TMT) is offering at INR 31,500/t EXW Raigarh.
— Bajrangbali Steel Industries Pvt Ltd is offering rebar at INR 31,500/t EXW Rourkela.
— Odisha based Shubhlabh TMT offers reported at INR 31,300/t EXW.
— Polaad TMT is offering at INR 32,800/t EXW Jalna.
— Mono TMT offers stable at INR 33,700/t FoR Ahmedabad.
— Trade discount given 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
— Trade discount in Raipur wire rod up by INR 200-300/t to INR 1,000-1,100/t through the traders, however base price firm at INR 31,500/t ex-Raipur. Also in Durgapur trade reference prices unchanged at INR 31,500-31,800/t ex-plant.
Reference prices as on 29th Jun’20
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Alang | HMS(80:20) | 20,900 | 20,800 | 21,000 | – 200 | 21,000 | 21,600 |
| Ex-Mumbai | HMS(80:20) | 19,900 | 19,800 | 20,100 | 0 | 19,400 | 21,000 | |
| Ex-Chennai | HMS(80:20) | 21,200 | 21,100 | 21,400 | 0 | 20,900 | 21,000 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 16,800 | 16,700 | 16,900 | – 100 | 16,000 | 17,200 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,000 | 15,900 | 16,100 | – 100 | 15,400 | 16,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 15,600 | 17,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,400 | 15,300 | 15,500 | – 100 | 15,200 | 16,200 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 15,900 | 15,800 | 16,000 | 0 | 15,000 | 16,200 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 15,600 | 15,500 | 15,700 | 0 | 14,600 | 16,200 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,100 | 15,000 | 15,200 | 0 | 14,900 | 16,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 15,600 | 15,500 | 15,700 | 0 | 15,400 | 16,900 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 30,900 | 30,800 | 31,000 | – 50 | 30,000 | 31,550 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 27,400 | 27,300 | 27,500 | 0 | 26,450 | 28,100 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 26,700 | 26,600 | 26,800 | – 50 | 26,000 | 27,950 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 27,350 | 27,300 | 27,400 | – 50 | 26,450 | 28,700 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,400 | 27,300 | 27,500 | – 100 | 26,900 | 28,800 | |
| Billet | Ex-Mandi Gobindgarh | 100x100mm, IS 2831 | 31,000 | 30,900 | 31,100 | – 100 | 30,000 | 31,700 |
| Ex-Durgapur | 100x100mm, IS 2831 | 27,700 | 27,600 | 27,800 | 0 | 26,800 | 28,600 | |
| Ex-Rourkela | 100x100mm, IS 2831 | 26,900 | 26,800 | 27,000 | – 150 | 26,350 | 28,450 | |
| Ex-Raipur | 100x100mm, IS 2831 | 27,600 | 27,500 | 27,700 | – 100 | 26,750 | 29,200 | |
| Ex-Ahmedabad | 100x100mm, IS 2831 | 28,600 | 28,500 | 28,700 | – 100 | 27,900 | 29,300 | |
| Ex-Mumbai | 100x100mm, IS 2831 | 27,600 | 27,500 | 27,700 | – 200 | 27,200 | 29,200 | |
| Ex-Chennai | 100x100mm, IS 2831 | 29,400 | 29,300 | 29,600 | 0 | 29,500 | 30,500 | |
| 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 | 0 | 34,400 | 36,600 |
| Ex-Durgapur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,000 | 31,800 | 32,200 | 0 | 31,300 | 34,200 | |
| Ex-Rourkela | 12-25mm, Induction Grade, IS 1786- 500 Fe | 31,300 | 31,200 | 31,400 | – 300 | 31,400 | 34,700 | |
| Ex-Raipur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 31,300 | 31,100 | 31,400 | 0 | 31,000 | 35,000 | |
| Ex-Jalna | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,600 | 32,300 | 32,700 | – 200 | 32,300 | 36,100 | |
| Ex-Mumbai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 31,600 | 31,400 | 31,700 | 0 | 31,600 | 34,100 | |
| Ex-Chennai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 35,400 | 35,300 | 35,700 | – 100 | 35,600 | 36,200 | |
| Ex-Hyderabad | 12-25mm, Induction Grade, IS 1786- 500 Fe | 32,300 | 32,100 | 32,400 | + 100 | 32,100 | 34,500 | |
| Wire Rod | Ex-Durgapur | 5.5 mm, Wire Rod, Induction grade | 31,600 | 31,500 | 32,000 | 0 | 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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