Spot billet prices increased by INR 100-300/MT in major markets, while sponge iron prices moved up by INR 200-300/MT in eastern India, on daily trade activities.
However rebar prices remained volatile as it rose by INR 100-300/MT in central, east & northern regions, however fell by INR 100-500/MT in few locations of west & southern India against yesterday.
Sources believe that finished steel prices may remain volatile on account of improved supply in the spot market on increased production.
SteelMint’s price assessment for induction furnaces billet in Indian market stood at INR 28,500-31,600/MT (USD 376-418) EXW.
Further, the coal-based sponge (78-80 FeM) C-DRI price assessment was at INR 15,900-17,100/MT (USD 210-226); prices are EXW & excluding GST.
Rupee & BSE Sensex
— On 5th June 2020 (Friday) INR to USD exchange rate stood at INR 75.57.
— ICEX (Indian Commodity Exchange Ltd) Jul’20 contract for STEELLONG today open at INR 30,850/MT & last traded (IST 17:53 hrs) at INR 30,750/MT.
— BSE Sensex closed at 34,287(+306) on Friday, as against last day (Thursday) at 33,980(-128).
— NSE Nifty50 index was closed today at 10,142(+113) & Nifty Metal at 2,049(+76).
Raw Material
— Singhal Steel, Raigarh based manufacturer has offered 60-14 Silico Manganese at INR 60,000/MT EXW.
Semi Finished
— Mid scale mills billet export offers increased by USD 3/MT D-o-D and is assessed at USD 375-377/MT ex-mill at Durgapur, equivalent to USD 405/MT CPT Nepal.
— Sponge manufacturers in Raipur have kept P-DRI offers firm at INR 16,100-200/MT, however demand remains limited as few buying inquiries are learned at INR 16,000-16,100/MT; ex-plant.
— Rashmi Metaliks has raised sponge P-DRI offers by INR 300/MT to INR 16,100/MT FoR Durgapur, as per sources.
— Raigarh based Singhal Steel offered P-DRI at INR 15,800/MT & Billet at INR 28,800/MT ex-Raigarh.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 16,600/MT & Billet at INR 28,300/MT EXW.
— Hare Krishna, a 300 TPD sponge manufacturer in Bellary, Karnataka has offered FeM 79-80 P-DRI at INR 15,500-15,700/MT ex-plant, an official reported.
— BIOP Steels in South India has offering FeM 80 & 82 C-DRI lumps at INR 16,300/MT & INR 16,700/MT ex-plant, Karnataka; an official reported.
— BMM Ispat, a renowned sponge manufacturer offered FeM 80 P-DRI lumps at INR 15,500-15,600/MT ex-Bellary & around 4,000 MT deals reported in nearby region.
Rebar (12 mm)
— Rathi Stelmax Steel is offering at INR 37,500/MT EXW (North Region).
— Swarup Rolling Mills (Swarup TMT) is offering at INR 35,900/MT EXW (Muzaffarnagar).
— Saluja Steel & Power Pvt. Ltd. (Saluja Gold TMT) offering at INR 39,100/MT EXW (Giridih, Jharkhand)
— Kalika Steels Alloys Pvt. Ltd. (Kalika TMT) is offering at INR 35,500/MT EXW Jalna (Down by INR 800/MT).
— Mono Steel (India) Ltd. (Mono TMT) offer at INR 35,400/MT FoR (Up by INR 100/MT).
— Chennai based Ponneri Steel Ind. (Triple Power) is offering at INR 36,500/MT EXW.
— Bajrangbali Steel Industries Pvt Ltd in Rourkela is offering Rebar at INR 35,100/MT EXW.
— Odisha based Ultra Strong TMT offers reported at INR 34,800/MT EXW.
— Raipur based heavy structure manufacturers have maintained trade discount by INR 700-1,000/MT and trade reference prices at INR 36,200-36,500/MT (200 Angle) EXW.
Wire Rod & Pipe
— Trade discounts in Raipur wire rod drop by INR 100/MT to INR 500-700/MT through the traders, however base prices up by INR 300/MT to INR 33,400/MT ex-plant. Also in Durgapur trade reference prices increased by INR 300/MT to INR 33,200-33,500/MT ex-plant.
— ERW Pipe Manufacturers have increased offers by INR 100-300/MT to INR 35,80-36,000/MT ex-Raipur, INR 38,000/MT ex-Mandi Gobindgarh & INR 36,500/MT ex-Rourkela.
Reference prices as on 5th 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 | + 100 | 21,800 | 22,600 |
| Ex-Mumbai | HMS(80:20) | 21,300 | 21,100 | 21,400 | + 100 | 20,700 | 22,500 | |
| Ex-Chennai | HMS(80:20) | 21,200 | 21,100 | 21,400 | 0 | 21,100 | 21,800 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,100 | 17,000 | 17,200 | + 300 | 17,400 | 17,000 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,500 | 16,400 | 16,600 | + 150 | 16,450 | 15,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,000 | 16,900 | 17,100 | 0 | 17,000 | 16,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,900 | 15,800 | 16,000 | 0 | 16,400 | 16,400 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,100 | 16,000 | 16,200 | + 300 | 16,450 | 16,000 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | 0 | 16,200 | 15,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 15,600 | 15,500 | 15,700 | 0 | 16,400 | 16,300 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | – 100 | 17,000 | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 31,550 | 31,500 | 31,600 | + 100 | 31,200 | NA |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 28,200 | 28,100 | 28,300 | + 200 | 28,000 | 26,500 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 28,050 | 28,000 | 28,100 | + 150 | 27,950 | 25,600 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 28,750 | 28,700 | 28,800 | + 300 | 28,600 | 26,000 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 28,800 | 28,700 | 28,900 | 0 | 29,000 | NA | |
| Billet | Ex-Mandi Gobindgarh | 100x100mm, IS 2831 | 31,600 | 31,500 | 31,700 | 0 | 31,400 | NA |
| Ex-Durgapur | 100x100mm, IS 2831 | 28,750 | 28,700 | 28,800 | + 250 | 28,500 | 27,000 | |
| Ex-Rourkela | 100x100mm, IS 2831 | 28,500 | 28,400 | 28,600 | + 150 | 28,400 | 26,200 | |
| Ex-Raipur | 100x100mm, IS 2831 | 29,250 | 29,200 | 29,300 | + 300 | 29,100 | 26,700 | |
| Ex-Ahmedabad | 100x100mm, IS 2831 | 29,500 | 29,400 | 29,600 | + 300 | 28,900 | NA | |
| Ex-Mumbai | 100x100mm, IS 2831 | 29,200 | 29,100 | 29,300 | – 100 | 29,300 | NA | |
| Ex-Chennai | 100x100mm, IS 2831 | 30,100 | 30,000 | 30,200 | 0 | 30,700 | NA | |
| Ex-Hyderabad | 100x100mm, IS 2831 | 29,500 | 29,400 | 29,600 | 0 | 29,500 | 29,000 | |
| TMT | Ex-Delhi/NCR | 12-25mm, Induction Grade, IS 1786- 500 Fe | 36,800 | 36,500 | 36,900 | + 100 | NA | NA |
| Ex-Durgapur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,000 | 33,800 | 34,200 | + 200 | 34,300 | 32,000 | |
| Ex-Rourkela | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,900 | 34,800 | 35,000 | + 100 | 35,200 | 32,400 | |
| Ex-Raipur | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,900 | 34,800 | 35,100 | + 200 | 35,300 | 32,800 | |
| Ex-Jalna | 12-25mm, Induction Grade, IS 1786- 500 Fe | 35,400 | 35,200 | 35,500 | – 500 | 36,400 | NA | |
| Ex-Mumbai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,100 | 33,900 | 34,200 | 0 | 34,100 | NA | |
| Ex-Chennai | 12-25mm, Induction Grade, IS 1786- 500 Fe | 36,000 | 35,800 | 36,200 | – 100 | 36,300 | 35,800 | |
| Ex-Hyderabad | 12-25mm, Induction Grade, IS 1786- 500 Fe | 34,400 | 34,300 | 34,500 | – 100 | 34,500 | 35,000 | |
| Wire Rod | Ex-Durgapur | 5.5 mm, Wire Rod, Induction grade | 33,300 | 33,200 | 33,500 | + 300 | 33,500 | 31,300 |
| Ex-Raipur | 5.5 mm, Wire Rod, Induction grade | 33,100 | 32,800 | 33,400 | + 300 | 33,700 | 30,600 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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