Steel rates in India on 20/06/2025

📰 Daily Steel Market Report – 20th June 2025 (Friday) Market Mood: 📉 Heavy Decline Across Most Segments. ⸻ 🔻 Market Overview: The steel market across major trading hubs in India experienced a broad-based downward correction today, with significant drops in ingot, billet, scrap, and TMT prices, especially in the second half of the day. Mandi Gobindgarh, a major barometer of steel pricing, showed a sharp slide in both ingot and billet prices by ₹200. The overall sentiment remained bearish. ⸻ 📍 MANDI GOBINDGARH: • Ingot fell from ₹41500 to ₹41300 (-₹200) • Billet also declined by ₹200, closing at ₹41300 • Flat, Angle, Pipe, Round all saw declines of ₹100 • Scrap dropped by ₹200 to ₹29600 • TMT bars slipped to ₹46600 (-₹100) • Prices weakened throughout the day, indicating weak buying and oversupply pressure. ⸻ 📍 OTHER REGIONS – INGOT MOVEMENTS: • Ludhiana (EN8D & MS): Fell ₹100 each • Himachal, Jammu, Jaipur, Bhiwadi: Down by ₹100–₹200 • Durgapur, Raigarh, Raipur: Each saw sharp falls of ₹200–₹500 • Kolkata & Bhavnagar: Ingot dropped heavily by ₹500 • Jaipur, Rourkela remained stable initially but weakened later ⸻ 🧩 SCRAP Market: • Mandi Gobindgarh: Down ₹200 to ₹29600 • Ludhiana, Raipur: Each dropped ₹100 • Muzaffarnagar: Rose slightly by ₹100 • Ghaziabad: Fell by ₹200 after an earlier rise • The scrap market remained under pressure due to reduced melting demand. ⸻ 📊 TMT BARS: • Major fall in brands like Jyoti (-₹500), Kamdhenu (-₹300), Jindal (-₹200), Doaba (-₹200) • Mandi Gobindgarh: Dropped ₹100 to ₹46600 • Mumbai & Ahmedabad: Fell by ₹200–₹300 • Durgapur, Kolkata: Remained stable at ₹39300 ⸻ 🔄 COILS (HRC & CRC): • Rates were largely flat across Ludhiana, Durgapur, Kolkata, Jaipur & Ghaziabad • No significant change in HRC/CRC pricing suggesting limited trading ⸻ ⚙️ WIRE ROD: • Raipur & Durgapur: Remained stable • No price movement, suggesting steady demand-supply balance in this segment ⸻ 🪙 MCX & Forex: • Gold: Dropped significantly by ₹597 to ₹98732 • Copper & Aluminium: Also in red, indicating weaker global industrial sentiment • USD/INR: At ₹86.60, stable but near recent highs ⸻ 📌 Summary: Today’s steel market witnessed a clear bearish trend with heavy corrections in core products like ingot, billet, and scrap. The pressure came from weak buyer sentiment, limited demand, and possibly a cautious approach ahead of the month-end. Only a few locations showed stability. The outlook remains cautious-to-negative in the short term unless demand picks up.