Rupee

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The Odisha Mining Corporation Ltd intends to sell various grades of chrome ore (friable) produced at South Kaliapani chromite mines and Sukrangi chromite mines of OMC Ltd in the Sukinda valley of JK Road Region, Jajpur Dist Odisha. OMC Ltd has decided to use the service of MSTC Ltd (a Govt. of India Undertaking) to conduct e-auction for selling off its (OMC) chrome ore. OMC increased the base prices of all grades of Chrome Ore by 15% for October Chrome Ore Auctions in line with the shortage of chrome ore availability with the producers.
News ID: 7060    Publish Date : 2019/10/23

Indian billet prices fell further due to weak demand in finished products and as per daily assessment the drop is about INR 100-500/MT with major correction of INR 500/MT (USD 7) in southern India, Hyderabad.
News ID: 6067    Publish Date : 2019/08/20

In conversation with industry participants, SteelMint learned that imported scrap offers to South Asia declined marginally on weak demand.
News ID: 5733    Publish Date : 2019/08/05

Indian billet & rebar prices fell further by INR 100-500/MT due to limited demand in finished products. In line with this, sponge iron offers marginally dropped by INR 100-200/MT on less selling pressure with the mills.
News ID: 5548    Publish Date : 2019/07/29

Indian Billet prices slightly fluctuated by INR 100-300/MT on average trade inquiries amid less clarity in market directions whether the prevailing price range will sustain or may report sharp change in coming days.
News ID: 4530    Publish Date : 2019/05/15

Indian spot steel prices plunge further amid sluggish demand domestically, as stated by participants. The Rebar, Billet & Sponge iron prices fell by INR 100-300/MT (day on day) through the mid sized mills.
News ID: 4523    Publish Date : 2019/05/14

Participants reported less inquiries from the re-rollers end resulted gradual decline in Billet & Sponge iron prices by INR 100-300/MT day on day in major markets.
News ID: 4499    Publish Date : 2019/05/14

Indian spot steel trade activities was remain on average basis as prices volatile by INR 100-200/MT on day trade activities.
News ID: 4487    Publish Date : 2019/05/10

Indian steel prices slightly fell on limited trade inquiries with less clarity in market directions whether the current price range will sustain or see major change in coming days.
News ID: 4464    Publish Date : 2019/05/09

Spot steel prices remain volatile following subdued trade activities in domestic market. As per participants, average movement in Semis products, while in finished products stocks have been rise with the mid sized mills.
News ID: 4443    Publish Date : 2019/05/07

Indian steel market observed limited trade activities, hence the Sponge iron & Billet prices remain slightly fell by INR 100-200/MT day-on-day in major markets.
News ID: 4381    Publish Date : 2019/04/29

Indian steel prices fell further today against yesterday. However SteelMint learned that the mills are not looking for more drop in prices considering prices to have bottomed out (further drop may reduce prices below production cost of standalone mills) and are holding positive outlook.
News ID: 4177    Publish Date : 2019/03/30

Indian Semis prices further drop owing to lack of demand and strengthening supply, as per participants. The prices fall by INR 100-500/MT (upto USD 7), day on day.
News ID: 3931    Publish Date : 2019/03/10

India's Finance Ministry exempted rupee payments made to the National Iranian Oil Company (NIOC) for crude imports from hefty taxes.
News ID: 3127    Publish Date : 2019/01/01

Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati and India’s Ambassador Saurabh Kumar, in a farewell meeting at the end of the envoy’s mission in Tehran, discussed banking relations between the two countries, and announced that the rupee payment mechanism between the 2 countries will become operational in coming days.
News ID: 3126    Publish Date : 2019/01/01

India’s Ambassador to Tehran Saurabh Kumar announced on Saturday that New Delhi will continue purchasing oil from Iran, thanks to the mutually agreed settlement mechanism based on Indian national currency of rupee.
News ID: 3031    Publish Date : 2018/12/22

SteelMint learned in recent conversation with market participants that Pakistan steel market observes increasing traction finally.
News ID: 2961    Publish Date : 2018/12/18

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