Market News Today

The primary TMT prices for Mumbai and Delhi NCR stand at Rs. 51,000-51,500/ton and Rs. 51,000-51,500/ton. While the secondary TMT prices have remained stable today but offer in Mandi Gobindgarh reduced by Rs. 300/ton.

Prices at Navlakhi port of Grade 3600 GAR is Rs 5200/MT, Grade 3800 GAR is Rs 5400/MT, Grade 4800 GAR is Rs 6400/MT, Grade 5200 GAR is Rs 7600/MT, Grade 5400 GAR is Rs 8900/MT.

Indian imported Scrap market active, HMS grade preferred by Steel producers, pessimistic demand for Finished Steel. Shortage reported, tight liquidity. South Asian Scrap deals closed, price adjustments anticipated. Pakistani & Bangladeshi mills cautious. MS Scrap market stable, prices steady with lower imports and subdued demand.

In Haldia, mustard oil is priced at Rs. 1120/10kg, and Rice Bran Refined at Rs. 910/10kg. Mustard seeds cost Rs. 5600/quintal in Jaipur.Indian mustard oil market is expected to grow at a 4.3% CAGR. There might be increase in edible oil prices in the upcoming quarter.

MCX Aluminium prices opened at Rs. 199.6/kg and closed at Rs. 197.3/kg on Tuesday, SHFE opened at 18,210 Yuan/MT and closed at 18,250 Yuan/MT, while LME opened at $2246.86/MT and closed at $2198.28/MT.

Cotton prices in North India have increased, with prices ranging between 5,850 and 5,950 in Punjab, 5,650 and 5,750 in Haryana, and 5,950 and 6,075 in Rajasthan. Sustained demand from spinning mills contributed to the price rise. In south India, cotton yarn prices remained steady in Mumbai and Tiruppur markets.

The Structural Steel industry currently experiences price stability in the primary segment, although price fluctuations may occur in late July or early August. Overall, the market suggests temporary stability at present.

Cement prices remain stable, while Aggregates are priced at Rs 350/ton (10mm) and Rs 450/ton (20mm) ex Kotputli. Improved demand creates supply difficulties, leading to canceled orders and low inventory at dealers' gowdowns. GST Council to review Cement tax, with potential reduction.

Shrimp prices remain steady, with different counts priced between Rs. 280 to Rs. 340 per kilogram. Seafood industry expects recovery by Q3 2023 but faces challenges like elevated input costs and illegal imports. There is optimism for increased shrimp exports to the USA in third quarter.

Junagadh Mandi: Slow market, coriander prices at 25-50 Rs, low demand, 6000 new bags. Rajkot: Stable market, 1800 bags, prices at 1350-1400 Rs. Limited supply raises prices. Coriander futures trading active at 7346 Rs per quintal, with significant market participation.