COMMODITY PRICE

SIAM MONTHLY MONITOR

Aug-2024
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 “SIAM Monthly Monitor - Commodity Prices” provides information on price trends of several
commodities, that are relevant for the automobile industry. The commodities includes; Iron & Steel,
Non-Ferrous Metals, Polymers and Rubber. It also contains information on international prices of
crude petroleum, banking & lending rates, foreign exchange rates and policy related developments.

This endeavor is aimed at providing compilation of the price movement of the key commodities for
information and reference for Automobile industry and not meant for influencing commercial
transactions.

This compilation shall not in any way constitute a recommendation by SIAM or its employees for
executing any commercial transaction. The readers of this compilation should make their own careful
assessment, consult their advisors and experts before relying on this information and entering into
any commercial transaction.
DISCLAIMER These are indicative prices only and are sourced from published sources and it may vary depending
on the source.

SIAM expressly disclaims any representation or warranty, express or implied, as to the accuracy or
completeness of the material and information contained herein, and none of them shall have any
liability whatsoever, for any statements contained in, or for any omissions from, this report.

Neither SIAM, nor any of its employees is liable for errors or omissions in this document or for any
loss or damage suffered by any person because of use or placing reliance on the contents of this
document.

Society of Indian Automobile Manufacturers (SIAM)

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CONTENT
Iron & Steel 4
Non-Ferrous Metals 15
Polymers 24
Rubber 28
Advanced Chemistries 34
Crude Petroleum 37
Forex Movement 42
Other Rates 48
IRON &
STEEL
 HR Steel
2023-24 2024-25 Commodity HR Steel
Movement of HR Steel Prices (1.8 mm, IS2062)
89,000 Month-Year ₹/Tonne
Aug-23 57,400-58,400
83,500
Sept-23 59,000-60,000
78,000 Oct-23 58,875-60,000
Nov-23 56,300-57,400
₹/Tonne

72,500
Dec-23 56,000-57,375
67,000 Jan-24 55,100-56,200
Feb-24 54,750-55,750
61,500
Mar-24 53,375-54,750

56,000 Apr-24 53,125-54,625

May-24 54,875-56,250
50,500 June-24 54,750-56,000

45,000 July-24 53,375-54,625

Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 51,800-54,000
Source: Published Data
A. In August 2024, HR Steel prices varied between ₹51,800 - ₹54,000 per tonne.
B. Prices in August 2024 were about 10% lower than last year, 3% lower than the previous month, and 12% lower than the peak witnessed in the last 12 months.
C. HR Steel is composed of various elements, such as 0.2% carbon, 0.5% silicon, 1.6% manganese, 0.045% phosphorus, and 0.045% sulfur, with iron making up the majority at
97.6%. Ferro silicon prices fell by 7.9% (Vs -13.2% last year), and ferromanganese prices fell by 0.8%(Vs -13.6% last year).
D. The construction sector consumes 48% of HR Steel. The performance of this sector is reflected by a 1.9% rise in cement production compared to 1.6% last year, and a 7%
decrease in earthmoving equipment sales last month. The automotive sector consumes 9% of HR steel. The latest data of two-wheeler production rose by 19.9% (Vs -1.2%
last year), three-wheelers grew by 8.8% (Vs 24.6% last year), and passenger vehicle production grew by 4.6% (Vs 7.6% last year). The oil and gas sectors together consume 6%
of HR steel. The oil index dropped to 1.2% (Vs -1.0% last year) while the natural gas index increased by 4.3% from 2.2% last year.

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 CR Steel
Movement of CR Steel (0.90 mm, IS 513 Gr O) 2023-24 2024-25 Commodity CR Steel
89,000
Month-Year ₹/Tonne
83,500 Aug-23 60,400-61,400
Sept-23 62,125-63,250
78,000
Oct-23 62,875-64,125
Nov-23 62,300-63,400
72,500
Dec-23 62,000-63,000
67,000 Jan-24 61,500-62,700
Feb-24 61,250-62,375
61,500
Mar-24 60,750-62,000

56,000 Apr-24 60,500-62,000

May-24 60,500-61,875
50,500
June-24 59,875-61,250

45,000 July-24 59,000-60,375

Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 57,300-59,000
Source: Published Data
A. In August 2024, CR Steel prices varied between ₹57,300-₹59,000 per tonne.
B. Prices in August 2024 were 5% lower than last year, 2% lower than the previous month, and 9% lower than the peak witnessed in October 2023.
C. CR steel is composed of various elements like chromium, pig iron, and manganese. Chromium prices have fallen by 2.5%(Vs -4.8% last year), pig iron prices have
declined by 3.5%(Vs -9.7 last year) and manganese prices have fallen by 0.8%(Vs -13.6% last year).
D. The recent performance of various sectors consuming CR steel is as follows - chemical production grew by 1.6% (Vs -1.9% last year), while shipbuilding dropped
by 20.9% (Vs 1.0% last year). Paper and fertilizer production increased by 1.3% (Vs 9.1% last year).

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 Alloy Steel – Forging (20MnCr5)
Alloy Steel - Forging
Movement of Alloy Steel (Forgings) - 20MnCr5 Prices
Commodity
2023-24 2024-25 (20MnCr5)
94,500
Month-Year ₹/Tonne
90,000
Aug-23 69,000
85,500 Sept-23 69,400
81,000 Oct-23 71,000

76,500 Nov-23 69,250

Dec-23 70,600
72,000
Jan-24 71,000
67,500
Feb-24 70,750
63,000
Mar-24 70,400
58,500 Apr-24 70,000

54,000 May-24 70,800

49,500 June-24 70,500

45,000 July-24 70,000

Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 69,600
A. In August 2024, 20 MnCr5 Alloy Steel’s price on average was ₹69,600 a tonne. Source: Published Data
B. Prices in August 2024 were about 1% higher than last year, 0.6% lower than the previous month, and 2% lower than the peak witnessed in October 2023.
C. The major inputs of alloy steel 20MnCr5 are manganese and chromium metals. Ferro chromium prices have fallen by 2.5%(Vs -4.8% last year), and ferro
manganese prices have fallen by 0.8%(Vs -13.6% last year).
D. Alloy steel is primarily used for pistons, boxes, spindles, gears, and camshafts. Gears production grew by 12.1% (Vs -1.8% last year), Year-to-date two-wheeler
production rose by 19.9% (Vs -1.2% last year), three-wheelers grew by 8.8% (Vs 24.6% last year), and passenger vehicle production grew by 4.6% (Vs 7.6% last
year).
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 Alloy Steel – Forging (EN-8)
Alloy Steel
Movement of Alloy Steel (Forgings)-EN 8 prices 2023-24 2024-25 Commodity
(EN 8)

Month-Year ₹/Tonne
94,500
Aug-23 68,000
89,000
Sept-23 68,400
83,500 Oct-23 70,000
Nov-23 68,250
78,000
Dec-23 69,600
72,500
Jan-24 70,000
67,000 Feb-24 69,750
Mar-24 69,400
61,500
Apr-24 69,000
56,000
May-24 69,800

50,500 June-24 69,500

July-24 69,000
45,000
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 68,600
Source: Published Data
A. In August 2024, EN 8 Alloy Steel’s price on average was ₹ 68,600 a tonne.
B. Prices in August 2024 were about 1% higher than last year, 0.6% higher than the previous month, and 2% lower than the peak witnessed in the last 12 months.
C. The major inputs of alloy steel EN-8 are silicon and carbon. Carbon prices dropped 8.1% this month, while silicon prices decreased 7.9%.
D. EN8 alloy steel primarily serves in axles, shafts, threads, and studs. Recent figures indicate a 15.6% rise in axle production.

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 Pig Iron
2023-24 2024-25 Commodity Pig Iron
Movement of Pig Iron Prices (For Castings – Gray Iron)
85,000

80,000 Month-Year ₹/Tonne

75,000 Aug-23 45,250

Sept-23 47,300
70,000
Oct-23 47,125
65,000
Nov-23 46,625
60,000 Dec-23 45,000

55,000 Jan-24 45,875

Feb-24 46,500
50,000
Mar-24 46,740
45,000
Apr-24 46,000
40,000 May-24 46,000

35,000 June-24 45,750

July-24 45,375
30,000
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 44,800
Source: Published Data
A. In August 2024, Pig Iron’s price on average was ₹ 44,800 a tonne. (Punjab {Grade B}- Basic rate, excluding GST & Freight)

B. Prices in August 2024 were about 1% lower than last year, 1.3% lower than the previous month and 5% lower than the peak witnessed in the last 12 months.
C. The major inputs of pig iron are Iron ore and coking coal, iron ore prices have dropped by 2% and coking coal prices dropped by 3% in recent months.
D. In July 2024, Global pig iron production increased by 1.1% compared to the previous month – to 120.7 million tons. Compared to July 2023, the figure decreased
by 1.8%. World pig iron production by the blast furnace method amounted to 109.9 million tons for the month (+1.2% m/m; -2.3% y/y), and by the direct reduction
method – 10.8 million tons (-0.3% m/m; +5.6% y/y).

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Stainless Steel
Movement of Stainless Steel Prices (G 304 CR Coil) 2023-24 2024-25 Stainless Steel
Commodity
3,15,000
(CR Coil)

Month-Year ₹/Tonne
2,90,000 Aug-23 2,10,500-2,13,500
Sept-23 2,16,750-2,18,750
2,65,000
Oct-23 2,12,500-2,14,500
Nov-23 2,04,000-2,06,000
2,40,000
Dec-23 1,88,750-1,91,750
Jan-24 1,83,400-1,85,400
2,15,000
Feb-24 1,85,250-1,87,250
Mar-24 1,90,500-1,92,500
1,90,000
Apr-24 1,89,750-1,91,750
May-24 1,90,750-1,92,250
1,65,000
June-24 1,88,750-1,90,750
July-24 1,87,250-1,89,250
1,40,000
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 1,88,800-1,91,000
Source: Published Data
A. In August 2024, Stainless Steel prices (Cold Rolled) varied between ₹1,88,800-1,91,000 per tonne.
B. Prices in August 2024 were about 10% lower than last year, 1% higher than the previous month, and 13% lower than the peak witnessed in the last 12 months.
C. Major consuming industries of stainless steel are, Infrastructure and construction goods increased by 6.2% vs 13.2% last year. The manufacturing index increased
by 3.8% vs 5.0% last year, and kitchen appliances declined to 15.1% vs -2.4% last year.
D. As per the recent data, the production of bars and rods of alloy and stainless steel dropped to 18.6% (Vs 5.7% last year), and Flat products of stainless steel
dropped by 16.8% Vs (40.1% last year).

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 Stainless Steel
Movement of Stainless Steel Prices (G 304 HR Coil) 2023-24 2024-25 Stainless Steel
Commodity
(HR Coil)

Month-Year ₹/Tonne
2,94,000
Aug-23 2,01,250-2,04,000
Sept-23 2,05,250-2,09,500
2,62,000 Oct-23 2,01,000-2,03,000
Nov-23 1,92,000-1,94,000

2,30,000 Dec-23 1,78,000-1,81,000

Jan-24 1,72,400-1,74,400
Feb-24 1,73,750-1,75,750
1,98,000
Mar-24 1,76,500-1,78,500
Apr-24 1,74,250-1,76,000
1,66,000
May-24 1,76,500-1,78,500
June-24 1,77,750-1,79,750
1,34,000
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar July-24 1,76,250-1,78,250
Aug-24 1,78,200-1,80,400
A. In August 2024, Stainless Steel prices (Hot Rolled) varied between ₹1,78,200-1,80,400 per tonne. Source: Published Data
B. Prices in August 2024 were 11% lower than last year, 1.1% higher than the previous month, and 13% lower than the peak witnessed in September 2023.
C. The major inputs of stainless steel are Chromium, Nickel, and Pig iron. Chromium prices have fallen by 2.5%, Nickel prices dropped by 0.9% and pig iron prices
dropped by 1.3% in recent months.
D. The construction sector consumes 48% of HR Steel. The performance of this sector decreased by 1.6% in cement production compared to 11.3% last year,
Domestic appliances consumed 9% of HR Steel, and its production grew by 22.7% vs (-4.2% last year), Industrial applications consumed 25%, its production grew
by 37.2% vs (-6.4% last year).
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Steel Scrap
Movement of Steel Scrap Prices (RM end Scrap) 2023-24 2024-25 Commodity Steel Scrap
74,500

69,000 Month-Year ₹/Tonne

Aug-23 41,050
63,500
Sept-23 41,360
58,000 Oct-23 40,950
Nov-23 38,800
52,500
Dec-23 38,300

47,000 Jan-24 37,650

Feb-24 37,600
41,500 Mar-24 38,680
Apr-24 38,750
36,000
May-24 41,140
30,500 June-24 42,125
July-24 40,625
25,000
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 39,980

A. In August 2024, Steel Scrap price on average was ₹39,980 a tonne. Source: Published Data
MG - Punjab -Basic rate
B. Prices in August 2024 were about 2.6% lower than last year, 1.6% lower than the previous month, and 5% lower than the peak witnessed in June 2024.
C. In January-June 2024, the global trade in ferrous metal scrap decreased by 6% compared to the same period in 2023 – to 25.9 million tons. India remained the
second-largest importer, but its imports fell by more than 26% year-on-year to 3.9 million tonnes.
D. India's steel sector performed well during April-July FY '25, Crude steel production reached 48.88 million tonnes (MT), finished steel production was 46.66 MT,
and consumption of finished steel was 47.75 MT. Globally, crude steel production in June 2024 stood at 161.4 MT, with China being the largest producer,
recording 91.6 MT. In June 2024, India’s production of crude steel was 12.3 MT.

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Coal (Coking Coal)
Movement of Coal Prices - Premium HCC, Australia-origin in USD 2023-24 2024-25 Commodity Coal (Coking Coal)

690.00 Month-Year $/Tonne

Aug-23 267
615.00
Sept-23 319
540.00 Oct-23 365
Nov-23 340
465.00
Dec-23 344
Jan-24 347
390.00
Feb-24 331
315.00 Mar-24 294
Apr-24 255
240.00
May-24 258
165.00 June-24 268
July-24 258
90.00
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 258
Source: Published Data
A. In August 2024, Coking Coal’s price on average was $258 a tonne.
B. Prices in August 2024 were about 3% lower than last year, same as the previous month and 29% lower than the peak witnessed in October 2023.
C. The Ministry of Coal has achieved a significant upswing in overall coal production from April to August reaching 384.07 million tonnes, growing 6.4%
compared to 361.1 million tonnes during the corresponding period of the previous year.
D. India’s coal production decreased by 7.51% to 62.67 MT from 67.76 MT during Aug'24 as compared to Aug'23. During Aug'24, CIL and SCCL registered a
negative growth of 11.94% & 25.10% by producing 46.06 MT & 3.76 MT of coal respectively. Whereas Captives/Others registered a positive growth of 23.14% by
producing 12.84 MT. During Aug'24, CIL and SCCL registered a negative growth of 11.06% & 21.63% by despatching 52.58 MT & 4.24 MT of coal respectively.

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Iron Ore
Movement of Iron Ore Prices - Fe 62% (Australia Origin) 2023-24 2024-25 Commodity Iron Ore
245.00
Month-Year $/Tonne
220.00
Aug-23 109
Sept-23 121
195.00
Oct-23 118
Nov-23 129
170.00
Dec-23 136
Jan-24 135
145.00
Feb-24 125

120.00 Mar-24 109

Apr-24 109
95.00 May-24 118
June-24 107
70.00 July-24 107
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 107

A. In August 2024, Iron Ore price on average was $107 a tonne. Source: Published Data
B. Prices in August 2024 were about 2% lower than last year, same as the previous month and 21% lower than the peak witnessed in Dec 2023.
C. In August 2024, India's largest iron ore producer reported a 9.9% drop in iron ore production to 3.07 million tonnes (MT). This was down from 3.41 MT in the
same month the previous year. Its sales also declined to 3.14 MT in August 2024, down from 3.54 MT in the same month the previous year.
D. Its cumulative iron ore production from April to August 2024 was 14.43 MT, down from 16.56 MT in the same period in 2023, cumulative iron ore sales from
April to August 2024 were 16.27 MT, down from 17.43 MT in the same period in 2023.

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Non-Ferrous
Metals
 Virgin Aluminium
Movement of Virgin Aluminium Prices Commodity Virgin Aluminium
2023-24 2024-25

3,300 Month-Year $/Tonne

Aug-23 2,136.90
3,000 Sept-23 2,177.50
Oct-23 2,190.40
2,700
Nov-23 2,205.10
Dec-23 2,174.30
2,400
Jan-24 2,194.20
2,100 Feb-24 2,182.50
Mar-24 2,222.40
1,800 Apr-24 2,497.80
May-24 2,565.20
1,500
June-24 2,495.10

1,200 July-24 2,362.30

Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 2,334.30
Source: Published Data

A. In August 2024, Virgin Aluminum’s price on average was $2,334.30 a tonne.

B. Prices in August 2024 were about 9% higher than last year, 1.2% lower than the previous month and 9% lower than the peak witnessed in the last 12 months.
C. Automotive production uses 21% of aluminium. The latest data of two-wheeler production rose by 19.9% (Vs -1.2% last year), three-wheelers grew by 8.8%
(Vs 24.6% last year), and passenger vehicle production grew by 4.6% (Vs 7.6% last year).
D. Year-to-date, Aluminium bars, rods, billets & ingots tracked as the proxy for aluminium production dropped by 3.0%, compared to the 1.0% growth observed
last year.

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 Copper
Movement of Copper Prices Commodity Copper
2023-24 2024-25
12,200

11,400 Month-Year $/Tonne

Aug-23 8,360.20
10,600
Sept-23 8,270.90

9,800 Oct-23 7,935.00

$/Tonne

Nov-23 8,176.00
9,000
Dec-23 8,394.10

8,200 Jan-24 8,344.30

Feb-24 8,310.70
7,400
Mar-24 8,675.60

6,600 Apr-24 9,482.30

May-24 10,129.10
5,800 June-24 9,641.60
July-24 9,393.60
5,000
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 8,963.70

Source: Published Data

A. In August 2024, Copper price on average was $8,963.70 a tonne.
B. Prices in August 2024 were 7% higher than last year and 4% lower than last month, 12% lower than the peak witnessed in the last 12 months.
C. The production of Copper Ore during June 2024 was 2.63 lakh tonnes. Production during the corresponding period in the previous year was 3.12 lakh tonnes.
During the month of June 2024, the production of metal in concentrate was 79% of the target. The sales of copper during the month of June 2024 was 1935 MT.
D. Year to date, copper bars, rods and electrodes tracked as the proxy for copper production dropped by 3.7% compared to 12.1% last year.

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 Lead
Movement of Lead Prices 2023-24 2024-25 Commodity Lead

2,900 Month-Year $/Tonne

Aug-23 2,152.00
2,700
Sept-23 2,252.90
Oct-23 2,137.60
2,500
Nov-23 2,164.60
$/Tonne

2,300 Dec-23 2,036.40

Jan-24 2,087.50
2,100 Feb-24 2,084.20
Mar-24 2,056.90
1,900
Apr-24 2,129.60
May-24 2,221.30
1,700
June-24 2,147.80

1,500 July-24 2,114.30

Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 2,002.40
Source: Published Data
A. In August 2024, the Lead price on average was $2,002.40 a tonne.
B. Prices in August 2024 were nearly 7% lower than last year, and 5% lower than the previous month, 11% lower than the peak witnessed in September 2023.
C. Sales of lead acid batteries consume 80% of lead and 9% of lead compounds. The production of lead (ingots/ bars/ blocks and plates) grew by 15.6% compared to
-6.8% last year.
D. As per the latest available data India exported lead acid batteries to Gabon (0.55$Mn), Nigeria(0.18$Mn), Korea(0.44$Mn), USA(0.14$Mn). In contrast, India’s
imports were –Singapore(7.4$Mn), China(0.21$Mn), USA(0.11$Mn), and Germany(0.15$Mn).

18
Nickel
Movement of Nickel Prices 2023-24 2024-25 Commodity Nickel
27,000
Month-Year $/Tonne
25,500
Aug-23 20,548.80
24,000 Sept-23 19,629.00
Oct-23 18,275.70
22,500
Nov-23
$/Tonne

16,893.90
21,000
Dec-23 16,388.70
19,500 Jan-24 16,091.40

18,000
Feb-24 16,307.60
Mar-24 17,432.80
16,500
Apr-24 18,172.40
15,000 May-24 19,520.00

13,500 June-24 17,508.30

July-24 16,396.30
12,000
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 16,249.80

A. In August 2024, Nickel price on average was $16,249.80 per tonne. Source: Published Data

B. Prices in August 2024 were 21% lower than last year, 0.9% lower than the previous month, and 17% lower than the peak witnessed in the last 12 months.
C. In August 2024, China's nickel sulfate production increased by 14.3% month-on-month but fell by 23.48% year-on-year, while India produced about 8,160
metric tons of nickel sulphate till date, India's demand is around 2,500 metric tons.
D. Stainless steel consumes 69% of nickel. Flat products of stainless steel production dropped by 16.8% (Vs 40.1% last year), 13% storage batteries. The
production of batteries rose by 2.8% compared to 2.7% last year.

19
Zinc
Movement of Zinc Prices 2023-24 2024-25
Commodity Zinc

4,200 Month-Year $/Tonne

Aug-23 2,409.80
3,750 Sept-23 2,488.10
Oct-23 2,450.00
3,300 Nov-23 2,541.20
$/Tonne

Dec-23 2,501.70
2,850 Jan-24 2,521.50
Feb-24 2,364.50

2,400 Mar-24 2,462.40

Apr-24 2,730.40

1,950 May-24 2,955.70

June-24 2,812.90

1,500 July-24 2,785.20

Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 2,709.80

A. In August 2024, Zinc price on average was $2,709.80 a tonne. Source: Published Data

B. Prices in August 2024 were 12% higher than last year, 3% lower than the previous month, and 8% lower than the peak witnessed in the last 12 months.
C. Galvanizing consumes 50% of Zinc, the production of galvanized products grew by 1.6% Vs(33.6% last year), Alloys consumed 17% Zinc, and the production
of alloys decreased to 11.6.% Vs(26.6% last year).
D. In July 2024, China's refined zinc production was 489,600 tonnes. Zinc concentrate imports for the same month were 375,400 metric tons, representing a
39.27% increase from June and a 4.71% decrease compared to the previous year.

20
 Platinum
Movement of Platinum Prices 2023-24 2024-25 Commodity Platinum
5,000

Month-Year ₹/gm
4,500
Aug-23 2,493.26
Sept-23 2,491.53
4,000
Oct-23 2,421.69
Nov-23 2,464.57
3,500
₹/gm

Dec-23 2,561.08
Jan-24 2,508.01
3,000
Feb-24 2,420.55
Mar-24 2,452.99
2,500
Apr-24 2,551.10
May-24 2,747.43
2,000
June-24 2,670.33
July-24 2,663.86
1,500
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 2,574.59

A. In August 2024, the Platinum price was ₹2,574.59 a gram on average. Source: Published Data

B. Prices in August 2024 were 3% higher than last year, 3% lower than the previous month, and 6% lower than the peak witnessed in the last 12 months.
C. Jewellery consumes 32% of platinum, Production of platinum Jewellery increased by 6.3% Vs (16.5%), 6% consumed as chemicals, the production of catalyst
chemicals decreased to 24.7% Vs(-10.8% last year), the glass industry consumed 5%, the production of sheet glass grew to 4.1% Vs(4.8% last year). Auto catalyst
consumes 40% of platinum.
D. South Africa contributed 33.7 million metric tons (MT) of platinum to the global market. In recent months, India imported $32.08 million from the USA, $2.22
million from Italy, and $4.80 million from China for automotive catalysts. Additionally, India imported $210.68 million from Indonesia, $42.56 million from the
UAE, and $44.35 million from the USA for Jewellery.

21
Palladium
Movement of Palladium Prices 2023-24 2024-25
Commodity Palladium

5,100 Month-Year ₹/gm

Aug-23 3,369.49
4,650
Sept-23 3,339.27
4,200 Oct-23 3,115.82
Nov-23 2,864.66
3,750
Dec-23 2,908.68
3,300 Jan-24 2,674.05
Feb-24 2,543.49
2,850
Mar-24 2,734.09
Apr-24 2,774.17
2,400
May-24 2,656.08
1,950 June-24 2,513.74
July-24 2,621.21
1,500
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 2,545.16
Source: Published Data

A. In August 2024, Palladium price on average was ₹2,545.16 a gram.

B. Prices in August 2024 were 24% lower than last year, 2.9% lower than the previous month and 24% lower than the peak witnessed in the last 12 months.
C. Demand for Palladium accounts for 75% of transport equipment. Commercial vehicle production grew to 3.0% vs (-2.4% last year)& passenger vehicle
production grew by 4.6% (Vs 7.6% last year). Polished diamond jewellery production decreased to 21.4% (compared to -17.4% last year).
D. As per the latest available data, Palladium in unwrought form is mostly imported from Italy(0.49$Mn), and the USA (0.13$Mn).

22
 Rhodium
Movement of Rhodium Prices
2023-24 2024-25 Commodity Rhodium

23,500
Month-Year ₹/gm
21,500 Aug-23 10,911.89
Sept-23 10,946.16
19,500
Oct-23 12,290.91
17,500 Nov-23 11,727.68

15,500 Dec-23 11,807.80

Jan-24 11,974.03
13,500
Feb-24 11,789.74

11,500 Mar-24 12,226.97

Apr-24 12,679.05
9,500
May-24 12,667.96
7,500 June-24 12,514.39
July-24 12,455.87
5,500
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 12,686.11

Source: Published Data

A. In August 2024, the Rhodium price on average was ₹12,686.11 a gram.
B. Prices in August 2024 were about 16% higher than last year, 2% higher than the previous month, and 2% lower than the peak witnessed in the last 12 months.
C. In 2024, the supply of rhodium in South Africa is expected to be the world's largest producer of rhodium in 2024, with a supply of around 574,000 ounces.
D. Catalyst converters contribute to 84% of Rhodium. As per the recent data, India imported from Korea(1.76$Mn), China(1.24$Mn), Germany(0.73$Mn),
USA(0.91$Mn), UK(0.37$Mn) and exported catalytic converter to Spain(1.83$Mn), UK(0.87$Mn), Brazil (0.19$Mn), Egypt(0.28$Mn).

23
Polymers
 Poly Propylene
Movement of Poly Propylene Prices 2023-24 2024-25 Commodity Poly Propylene
150.00
Month-Year ₹/kg
140.00
Aug-23 91.40
130.00
Sept-23 92.50
120.00 Oct-23 93.00
Nov-23 94.40
110.00
₹/kg

Dec-23 94.50
100.00
Jan-24 95.80
90.00 Feb-24 97.80

80.00 Mar-24 97.30

April-24 95.50
70.00
May-24 96.20
60.00 June-24 99.40

50.00 July-24 103.20

Apr May June July Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 103.20

A. In August 2024, Polypropylene price on average was ₹103.20 a kilogram. Source: Published Data
B. Prices in August 2024 were about 13% higher than last year, same as the previous month, and 6% higher than the peak witnessed in February 2024.
C. The major inputs of Polypropylene are ethylene and crude oil. Ethylene prices rose by 10.9% from (-16.2% last year) and crude oil prices dropped by 6% in
recent months.
D. Textiles consume 21% of Polypropylene, its production dropped by 28.1% Vs (54.1% last year). Polypropylene films consume 16% and their production rose by
10.2% Vs(-8.4% last year).

25
 Acrylonitrile Butadiene Styrene (ABS)
Movement of ABS Prices Acrylonitrile Butadiene
2023-24 2024-25 Commodity
Styrene (ABS)
190.00 Month-Year ₹/kg
Aug-23 130.70
170.00
Sept-23 130.30

150.00 Oct-23 132.70

Nov-23 133.40
130.00 Dec-23 133.10
₹/kg

Jan-24 132.50
110.00
Feb-24 130.10
Mar-24 127.50
90.00
April-24 127.00

70.00 May-24 128.40

June-24 127.00
50.00 July-24 147.10
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 152.70
Source: Published Data
A. In August 2024, Acrylonitrile Butadiene Styrene price on average was ₹152.70 a kilogram.
B. Prices in August 2024 were about 17% higher than last year, 4% higher than the previous month, and 4% higher than the peak witnessed in the last 12
months.
C. The major inputs of ABS are Butadiene and Styrene, Butadiene production grew by 1.9% (Vs 73.4% last year) and Styrene production increased by 25.9%(Vs -
7.9% last year).
D. Medical equipment uses 20% of ABS. Medical surgical accessory production declined by 20.5% Vs 30.2% last year. Electrical equipment also consumes 20%,
and storage battery production rose to 23.1% from (Vs -2.7%) last year.

26
 Poly Carbonate
Movement of Poly Carbonate Prices
2023-24 2024-25 Commodity Poly Carbonate
350
Month-Year ₹/kg
325
Aug-23 182.80
300 Sept-23 180.00

275
Oct-23 175.90
Nov-23 170.00
250
Dec-23 163.10
₹/kg

225 Jan-24 165.70

200 Feb-24 168.50

Mar-24 169.70
175
Apr-24 170.70
150
May-24 175.90
125 June-24 176.90
July-24 188.20
100
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 204.40
Source: Published Data

A. In August 2024, the price of polycarbonate on average was ₹204.40 a kilogram.

B. Prices in August 2024 were about 12% higher than last year, 8% higher than the previous month and 9% higher than the peak witnessed in the last 12 months.
C. As per recent data, India imported Bisphenol-A valued at $3.46 million from Korea, $0.85 million from Thailand, and $2.46 million from Taiwan.
D. Electrical and electronics use 27% of Polycarbonate. Electric filaments and lamp production increased by 32.6% (from 17.5% last year). Optical media consumes
12% of Polycarbonate, with lens wear production grew by 1.3% (compared to 12.3% last year).

27
Rubber
 Natural Rubber (RSS 4)
Movement of Natural Rubber (RSS 4) Prices 2023-24 2024-25 Commodity Natural Rubber (RSS 4)

300 Month-Year ₹/kg

Aug-23 147.34
250 Sept-23 146.58
Oct-23 149.70
200 Nov-23 153.37
Dec-23 152.26
₹/kg

150 Jan-24 158.59

Feb-24 164.89
100 Mar-24 176.10
April-24 182.03
50 May-24 183.23
June-24 200.67
0 July-24 209.15
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 236.32
Source: Published Data
A. In August 2024, the RSS4 price on average was ₹236.32 a kilogram.
B. Prices in August 2024 were about 60% higher than last year, 13% higher than the previous month, and about 13% higher than the peak witnessed in the last 12
months.
C. Natural rubber is mainly used as an adhesive in many manufacturing industries. The production of adhesive formulations dropped by 10.8% (Vs -5.4% last year).
D. Till date, India exported natural rubber to Srilanka ($0.95Mn), Saudi arab ($0.07Mn), Nepal($0.04Mn), Egypt($0.12Mn), Mexico($0.07Mn), and imported from
Vietnam ($14.5Mn), Malaysia($8.0Mn), Indonesia($8.5Mn), Thailand($5.6Mn) and Myanmar($3,4Mn) in primary forms.

29
 Synthetic Rubber - SBR
Movement of Synthetic Rubber Prices – SBR 1502 2023-24 2024-25 Commodity Synthetic Rubber - SBR

240 Month-Year ₹/kg

Aug-23 140.55
220 Sept-23 146.26
Oct-23 160.11
200
Nov-23 165.92

180 Dec-23 159.07

₹/kg

Jan-24 157.92
160 Feb-24 160.64
Mar-24 164.19
140
April-24 173.34
May-24 178.51
120
June-24 176.20

100 July-24 183.00

Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 188.51
A. In August 2024, Synthetic Rubber price on average was ₹188.51 a kilogram. Source: Published Data
B. Prices in August 2024 were about 34% higher than last year, 3% higher than the previous month, and 3% higher than the peak witnessed in the last 12 months.
C. LMV tyre production rose by 2.3% compared to -0.1% last year, while 2W/3W tyre production rose by 44.8% (Vs -26.0% last year). Consumer non-durables
consume 21% of SBR, and the production of consumer non-durables dropped by 1.43% (Vs 0.55% last year).
D. Based on the most recent data, India imported synthetic rubber from Korea RP ($23.91 million), Japan ($11.82 million), China ($17.22 million), and Singapore
($10.97 million). In contrast, India exported synthetic rubber to various countries, including China ($2.61 million), Vietnam ($1.36 million), the USA($1.73 million),
Thailand ($2.18 million), and UAE ($1.27 million).

30
 Ethylene Propylene Diene Monomer (EPDM)
Ethylene Propylene
Movement of EPDM Prices 2023-24 2024-25 Commodity
Diene Monomer (EPDM)
Month-Year ₹/kg
450
Aug-23 229.17
400 Sept-23 227.69
Oct-23 232.50
350
Nov-23 233.27
Dec-23 228.83
300
Jan-24 223.04
₹/kg

250 Feb-24 223.32

Mar-24 224.38
200
April-24 224.13
May-24 225.14
150
June-24 218.00
100 July-24 219.68
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 222.90

A. In August 2024, EPDM price on average was ₹222.90 a kilogram. Source: Published Data
B. Prices in August 2024 were about 3% lower than last year, 1.4% higher than the previous month, and 5% lower than the peak witnessed in the last 12 months.
C. The main inputs for EPDM rubber are Ethylene and Propylene. Ethylene prices grew by 10.9% from the previous month and Propylene prices have risen by 6% in
recent months.
D. 20% EPDM is consumed by tractor tyre manufacturing, and its production grew by 20.4% (compared to -21.7% last year). Construction equipment also consumes
20%, its production dropped by 0.5% (up from 8.0% last year). For plastic, consuming 15%, polyethene film production rose by 10.2% (compared to -8.4% last year).

31
Carbon Black
2023-24 2024-25 Commodity Carbon Black
Movement of Carbon Black Prices – N330

Month-Year ₹/kg
195.00
Aug-23 117.97
175.00 Sept-23 122.82
Oct-23 116.99
155.00
Nov-23 115.50

135.00 Dec-23 115.73

₹/kg

Jan-24 116.32
115.00 Feb-24 116.10
Mar-24 115.15
95.00
April-24 111.98
May-24 112.15
75.00
June-24 113.20
55.00 July-24 112.92
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 108.22

A. In August 2024, Carbon Black’s price on average was ₹108.22 a kilogram. Source: Published Data

B. Prices in August 2024 were 8% lower than last year, 4% lower than the previous month and 12% lower than the peak witnessed in September 2023.
C. The primary carbon black inputs include coal, oil, and natural gas. Oil prices dropped by 6%, while Coal prices declined by 3.4%, and natural gas prices dropped
by 2% in recent months.
D. Carbon black worth $4.25 million was exported from India to the USA, $2.36 million to Thailand, $3.11 million to the Netherlands, $3.29 million to Srilanka, and
$2.57 million to the Vietnam. In return, India imported carbon black valued at $4.11 million from China, $2.98 million from Korea, $3.38 million from UAE, $0.61
million from Turkey, and $0.57 million from Russia in the recent month.

32
 Polybutadiene Rubber
Movement of Polybutadiene Rubber Prices (1220 Grade) 2023-24 2024-25 Commodity Polybutadiene Rubber

235.00 Month-Year ₹/kg

Aug-23 135.00
215.00
Sept-23 140.00
195.00 Oct-23 152.46
Nov-23 159.96
175.00
₹/kg

Dec-23 163.80

155.00 Jan-24 166.92

Feb-24 168.16
135.00
Mar-24 168.07

115.00 April-24 174.61

May-24 172.96
95.00 June-24 176.36
July-24 180.55
75.00
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 185.77
Source: Published Data
A. In August 2024, Polybutadiene Rubber’s price on average was ₹185.77 a kilogram.
B. Prices in August 2024 were about 37% higher than last year, 2.8% higher than the previous month and 3% higher than the peak witnessed in the last 12 months.
C. Butadiene and Styrene are the major inputs. Butadiene production grew by 1.9% (Vs 73.4% last year) and Styrene production increased by 26%(Vs 15% last
year).
D. Heavy motor tyre production consumes 60% of Polybutadiene, Rubber thread consumes 10%, and Plastics consume 25%. The production of rubber thread grew
by 16.3% (Vs -4.8% last year). Production of tyres and tubes for heavy motor vehicles grew by 0.1% (Vs 2.7% last year), and Plastic tarpaulin production grew by
9.3% (Vs 12.6% last year).

33
Advanced Chemistries
 Lithium Carbonate (Li2CO3)
Movement of Lithium Carbonate(99.5% Battery Grade CIF) Commodity Lithium Carbonate
2023-24 2024-25 (Li2CO3)
75 Month-Year $/Kg
Aug-23 33.85
Sept-23 26.43
60
Oct-23 23.50
Nov-23 20.40
$/Kg

45 Dec-23 15.70
Jan-24 14.00

30 Feb-24 14.00
Mar-24 13.61
Apr-24 13.53
15 May-24 13.89
June-24 13.57

0 July-24 12.73
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 11.36
Source: Published Data
A. In August 2024, Lithium Carbonate price on average was $11.36 Per kg.
B. Prices in August 2024 were 66% lower than the last year, 11% lower than the previous month, and 57% lower than the peaks witnessed in September 2023.
C. Sulfuric acid and sodium carbonate are the major inputs. Sulfuric acid prices dropped by 8% compared to 52% last year. Sodium carbonate prices also dropped by
8% compared to -14% last year.
D. Batteries consume 46%, and Glass & ceramics consume 27% of lithium carbonate. The production of glass& ceramics grew by 5% compared to -4% last year. The
production of batteries rose by 23% compared to 7% last year.

35
Lithium Hydroxide (LiOH)
Movement of Lithium Hydroxide (56.5% Battery Grade CIF) 2023-24 2024-25 Commodity Lithium Hydroxide
(LiOH)

75 Month-Year $/Kg
Aug-23 34.63
Sept-23 27.11
60
Oct-23 23.62
$/Kg

Nov-23 20.67
45 Dec-23 16.50
Jan-24 14.91
Feb-24 13.75
30
Mar-24 13.79
April-24 13.98
15
May-24 14.06
June-24 13.60

0 July-24 12.58
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 11.14
Source: Published Data
A. In August 2024, the Lithium Hydroxide price on average was $11.14 Per Kg.
B. Prices in August 2024 were 68% lower than the last year, 8% lower than the previous month, and 59% lower than the peaks witnessed in September 2023.
C. Calcium hydroxide is the major input in causticizing the lithium hydroxide. Calcium hydroxide prices dropped by 2% compared to 3% last year.
D. Rechargeable batteries consume 54%, and ceramics consume 10% of lithium hydroxide. The production of batteries rose by 23% compared to 7% last year.
Production of ceramic tiles and flagstones grew by 16.1% compared to -14.9% last year.

36
Crude / Petroleum
Crude Oil
Movement of Crude Oil Prices – Europe Brent Spot Price FOB 2023-24 2024-25 Europe Brent Spot Price FOB

146
Month $/Barrel
Aug-23 86.05
134 Sept-23 93.72`
Oct-23 90.78
122
Nov-23 82.94
110 Dec-23 77.76
$/Barrel

Jan-24 80.12
98
Feb-24 83.48
86 Mar-24 85.41
April-24 89.94
74
May-24 81.75
62 June-24 82.25
July-24 85.15
50
Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar Aug-24 80.36

A. In August 2024, the European Brent Spot price on average was $80.36 a barrel. Source: Published Data

B. Prices in August 2024 were about 7% lower than last year, 5.9% higher than the last month and 15% lower than the peaks witnessed in September 2023.
C. Out of the total processed crude, 2.1 MMT was sourced domestically, while 20.5 MMT was imported. The production of petroleum products experienced a
significant rise, increasing by 7.1% to 24.4 MMT in July 2024 compared to July 2023. Refinery production accounted for 24.1 MMT, with fractionators
contributing 0.3 MMT.
D. Crude Oil Indian basket price fell to $78.27 bbl in August 2024 from $84.15 bbl in July 2024. Petrol VAT stands at 19.40%.

38
 Compressed Natural Gas (CNG) Prices
DEL 2024-25 MUM-2024-25 Compressed Natural Gas (CNG) Prices
120

Month Delhi (IGL) Mumbai (MGL)

110 ₹/kg ₹/kg

Aug-23 73.60 79.00

100
Sept-23 73.60 79.00
Oct-23 73.60 76.10
90
Nov-23 74.10 76.00
Dec-23 76.20 76.00
80
Jan-24 76.60 76.00
Feb-24 76.60 76.00
70 Mar-24 74.60 76.00
April-24 74.10 73.50
60 May-24 74.10 73.50
June-24 74.40 73.50
50 July-24 75.10 73.50
Apr May June July Aug Sep Oct Nov Dec Jan Feb Mar
Aug-24 75.10 73.50
A. In August 2024, the CNG price on average was ₹75.10 a Kg in Delhi and ₹73.50 a kg in Mumbai. Source: Published Data
B. Prices in August 2024 were about 2% higher than last year and 1% lower than the peak witnessed in the last 12 months in Delhi. Whereas prices in Mumbai
were 8% lower than last year, and 8% lower than the peaks witnessed in the last 12 months.
C. Ministry of Petroleum and Natural Gas (MoPNG) has notified the price of domestic natural gas for the period August 1, 2024, to August 31, 2024, as USD
8.51 per million metric British thermal units (mmBtu) on gross calorific value (GCV) basis.
D. Besides, for the gas produced by Oil and Natural Gas Corporation Limited (ONGC) /Oil India Limited (OIL) from their nomination fields, the administrative
price mechanism price will be subject to a ceiling of USD 6.50/mmBtu on a GCV basis for the same period.
36
Petrol-Diesel Prices
Rupees per Litre

Month/Year Delhi Mumbai

Petrol Diesel Petrol Diesel
Aug-23 96.76 89.66 106.29 94.25
Sept-23 96.76 89.66 106.29 94.25
Oct-23 96.76 89.66 106.29 94.25
Nov-23 96.76 89.66 106.29 94.25
Dec-23 96.76 89.66 106.29 94.25
Jan-24 96.76 89.66 106.29 94.25
Feb-24 96.76 89.66 106.29 94.25
Mar-24 95.69 88.59 105.17 93.11
April-24 94.76 87.66 104.19 92.13
May-24 94.76 87.66 104.19 92.13
June-24 94.76 87.66 104.13 91.95
July-24 94.76 87.66 103.74 90.84
Aug-24 94.76 87.66 104.19 92.13
A. In August 2024, the Petrol-Diesel prices on average were ₹94.76-₹87.66 a litre in Delhi and ₹104.19-₹92.13 a litre in Mumbai. Source: Published Data
B. In Delhi, the Prices of petrol and diesel in August were 2% lower than last year, In Mumbai, the prices of petrol are 2% lower than the last year and diesel
prices are 2% lower than last year.
C. India's petrol consumption has increased by 8.26% compared to August 2023, marking a significant rise from 3,093 thousand metric tonnes (TMT) last year
to 3,349. Diesel, however, witnessed a consumption dip of 2.87% year-over-year, decreasing from 6,670 TMT in August 2023 to 6,478 TMT in the same month
this year.
D. A notable surge in Aviation Turbine Fuel (ATF) usage by 5.70% over the previous year, with consumption increasing from 677 TMT in August 2023 to 716 TMT
in August 2024.

37
Ethanol Prices (Domestic)
Rates Sugarcane Juice B-Heavy Molasses C-Heavy Molasses

Month Rs/Litre Rs/Litre Rs/Litre

Aug-23 65.60 60.70 49.40

Sept-23 65.60 60.70 49.40

Oct-23 65.60 60.70 49.40

Nov-23 65.60 60.70 49.40

Dec-23 65.60 60.70 49.40

Jan-24 65.60 60.70 49.40

Feb-24 65.60 60.70 49.40

Mar-24 65.60 60.70 49.40

April-24 65.60 60.70 49.40

May-24 65.60 60.70 49.40

June-24 65.60 60.70 49.40

July-24 65.60 60.70 49.40

Aug-24 65.60 60.70 49.40

Source: Published Data
A. In August 2024, the average ethanol prices are as follows: sugarcane juice at 65.60 Rs/Litre, B-heavy molasses at 60.70 Rs/Litre, and C-heavy molasses at 49.40 Rs/Litre.
B. The prices in August 2024 remained unchanged compared to both the previous month and the same period last year.
C. The pricing model of sugarcane-based ethanol is based on the Fair and Remunerative price (FRP) of Sugar Cane. The pricing model for B Heavy is linked to the normative cost of sugar. The
pricing model for C Heavy is based on prices of molasses and ex-mill prices. Of the total ethanol used for blending in gasoline, around 61% comes from B heavy molasses, 20% from sugar syrup
and 2% from C heavy molasses. Sugarcane prices have risen by 3%(Vs 5%last year). Additionally, sugar prices have increased by 5% (Vs 4% last year).
D. Fuel and energy consume 45%, Food and beverages consume 26%, and chemicals consume 16% of Ethanol. Production of fuel and energy increased by 3.16% Vs 2.1 last year. Production of
food products dropped to 1.6% Vs 3.8% last year, Beverages rose by 5.1% Vs 19.9%. chemicals dropped by 1.67% Vs 6.9 last year.

41
Forex
Movement
 US Dollar
INR / US Dollar
2023-24 2024-25
2023-24 2024-25
Month
Buying Selling Buying Selling
96
April 82.03 82.60 83.40 83.98
Rupees per Unit of US Dollar

90 May 82.34 82.91 83.39 83.97

Jun 82.23 82.80 83.47 84.05
84 July 82.15 82.73 83.59 84.17
Aug 82.79 83.77 83.89 84.47
78 Sep 83.04 83.62
Oct 83.23 83.80
72
Nov 83.29 83.87
Dec 83.27 83.85
66
Jan 83.12 83.70
Feb 82.96 83.54
60
Apr May June July Aug Sept Oct Nov Dec Jan Feb Mar Mar 82.99 83.57

A. Indian rupee depreciated by 0.30 Paise to the US Dollar from Rs. 83.59 in July 2024 to Rs. 83.89 in August 2024. Source: Published Data
B. In the month, the US accounted for 25% of exports and 8% of imports in Indian trade. The latest trade data indicates a YoY increase of 3.15% in exports and a
1.41% increase in imports with the US.
C. In the period of April- July 2024 (the latest available data), India exported 27.4 Billion USD and imported 15.2 Billion USD.
D. Non-POL(USD 6043.0Mn), Manufactured goods(USD 5497.4Mn), Chemicals & related products(USD 1104.9Mn), Drugs, pharmaceuticals & fine chemicals(USD
766.7Mn) Drug formulations, biologicals (USD 696.5Mn) Petroleum & crude products (USD 517.1Mn), were top exports. While, Non-POL(USD 2580.7Mn),
Manufactured goods(USD 2013.1Mn),Petroleum crude & products (USD 1132.1Mn), Engineering goods(USD 890 Mn), Petroleum products(USD 362.5Mn), Ores and
minerals(USD 305.6Mn) were top imports.
43
 Pound Sterling
BUYING 2023-24 2024-25 INR / GBP

123
2023-24 2024-25
Month Buying Selling Buying Selling
Rupees per Unit of Pound Sterling

115
April 101.98 103.11 104.37 105.51
May 102.73 103.86 105.29 106.45
107
June 103.81 104.96 106.16 107.51
July 105.81 106.97 107.37 108.53
99
Aug 105.25 106.40 108.56 109.77
Sep 103.02 104.14
91 Oct 101.23 102.34
Nov 103.36 104.51
83 Dec 105.41 106.57
Jan 105.60 106.74
75 Feb 104.79 105.94
Apr May June July Aug Sep Oct Nov Dec Jan Feb Mar
Mar 105.53 106.88

A. Indian rupee depreciated by 1.19 INR to GBP from Rs. 107.37 in July 2024 to Rs. 108.56 in August 2024. Source: Published Data
B. In the month, the UK accounted for 5% of exports and 1% of imports in Indian trade. The latest trade data indicates a YoY decrease of 1.85% in exports and a decrease
of 7.49% in imports with the UK.
C. In the period of April- July 2024 (the latest available data), India exported 5.15 Billion USD and imported 2.02 Billion USD from the UK.
D. Non-POL(USD 920.9Mn), Manufactured goods(USD 834.2Mn), Petroleum & crude products(USD 242.4Mn), Petroleum products(USD 242.4Mn), Chemicals & related
products(USD 128.7Mn), Drugs, pharmaceuticals & fine chemicals(USD 79Mn), Agricultural & allied products(USD 78.3Mn),were top exports. While, Non-POL(USD
522.2Mn), Manufactured goods(USD 485.6Mn), Engineering goods(USD 273.9Mn), Ferrous and non-ferrous metal products(USD 83.4Mn), Iron & steel(USD 55.9Mn) were
top imports.

44
 Euro
2023-24 2024-25 INR / EURO
BUYING

117 2023-24 2024-25

Month Buying Selling Buying Selling
111
April 89.86 90.85 89.43 90.41
Rupees per Unit of Euro

105 May 89.48 90.44 90.10 91.09

June 89.07 90.05 89.89 90.88
99 July 90.83 91.83 90.59 91.60
Aug 90.37 91.05 92.41
93 93.44
Sep 88.74 89.70
Oct 87.83 88.79
87
Nov 89.94 90.92
81 Dec 90.84 91.85
Jan 90.76 91.73
75 Feb 89.55 90.54
Apr May June July Aug Sep Oct Nov Dec Jan Feb Mar
Mar 90.26 91.25
A. Indian rupee depreciated by 1.82 INR to Euro from Rs. 90.59 in July 2024 to Rs.92.41 in August 2024. Source: Published Data
B. In the month, Europe accounted for 11% of exports and 6% of imports in Indian trade. The latest trade data indicates a decrease of about 2.56% in exports and a
0.29% decrease in imports in Europe.
C. In the period of April-July 2024 (the latest available data), India exported 26.4 Billion USD and imported 18.8 Billion USD from Europe.
D. Non-POL(USD 6801.6Mn), Manufactured goods(USD 6174.2Mn), Petroleum & crude products(USD 1404Mn), Chemicals & related products(USD 1134.5Mn),
Petroleum products(USD 1404Mn), Agricultural & allied products(USD 516.5Mn), were top exports. While, Non-POL(USD 7036.6Mn), Manufactured goods(USD
5959.2Mn), Petroleum crude& products(USD 4586.9Mn), Crude petroleum(USD 4452.2Mn), chemicals & related products(USD 894.1Mn), Ores and minerals(USD
511.8Mn) were top imports.

45
 Yen
BUYING 2023-24 2024-25 INR / 100 YEN
90
2023-24 2024-25
Month
Buying Selling Buying Selling
80
April 61.37 62.10 54.20 54.85
Rupees per 100 Yen

May 60.04 60.75 53.52 54.17

70
June 58.26 58.95 52.86 53.49

July 58.26 58.96 52.92 52.99

60
Aug 57.23 57.81 57.38 57.41
Sep 56.26 56.29
50
Oct 55.64 55.71
Nov 55.61 55.68
40 Dec 57.80 57.87
Jan 57.06 57.12
30 Feb 55.52 55.55
Apr May June July Aug Sep Oct Nov Dec Jan Feb Mar
Mar 55.42 56.08
A. Indian rupee depreciated by 4.46 INR to 100 JPY from Rs. 52.92 in July 2024 to Rs. 57.38 in August 2024. Source: Published Data
B. In the month, Japan accounted for 2% of exports and 3% of imports in Indian trade this month. The latest trade data indicates an increase of 27.2% in exports and a
decrease of 1.87% in imports from Japan.
C. In the period of April-July 2024 (the latest available data), India exported 1.91 billion USD and imported 5.92 Billion USD from Japan.
D Non-POL(USD498.2Mn), Manufactured goods (USD425.7Mn), Engineering goods(USD157.1Mn), Chemicals & related products(USD124.3 Mn)
Inorganic/organic/agrochemicals (USD 73.1 Mn), Agricultural & allied products(USD 63 Mn) were top exports. Non-POL(USD 1552.4 Mn), Manufactured goods(USD 1543.6
Mn), Engineering goods(USD 869.3 Mn), Chemicals and related products(USD 316.2 Mn), Iron & steel(USD 233.4Mn) were top imports.

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Renminbi (CNY)
2023-24 2024-25 INR / Renminbi (CNY)11.53

17 Period Rate Period Rate

April-23 11.87 April-24 11.52

Rupees per Unit of Renminbi (CNY)

May-23 11.75 May-24 11.52

14 June-23 11.45 June-24 11.50

July-23 11.46 July-24 11.55

Aug-23 11.43 Aug-24 11.77

11
Sept-23 11.41

Oct-23 11.42

8 Nov-23 11.58

Dec-23 11.68

Jan-24 11.62
5 Feb-24 11.53
Apr May June July Aug Sep Oct Nov Dec Jan Feb Mar
Mar-24 11.52
A. In August 2024, the Indian rupee to CNY is 11.77 and 11.55 in July 2024. Source: Published Data

B. In the month, China accounted for 4% of exports and 18% of imports in Indian trade. The latest trade data indicates a decrease of 9.29% in exports and an
increase of 13.05% in imports from China.
C. In the period of April-July 2024 (the latest available data), India exported 4.80 Billion USD to and imported 35.8 Billion USD from China.
D Non-POL(USD 1019.8Mn), Manufactured goods(USD 598.5Mn), Ores & minerals(USD 220.9Mn), Iron ore(USD 196.5Mn) Agricultural & allied products (USD
193.3Mn), Engineering goods(USD 185.6Mn) were top exports. Non-POL(USD 10275.1Mn), Manufactured goods(USD 10056.1Mn), Engineering goods(USD
3267.2Mn), Chemicals and related products(USD 1564.7Mn), Organic chemicals(USD 455.7 Mn) were top imports.

47
Banking Policy & Lending Rates
Rates Cash Reserve Ratio Bank Rate Base Rate

Unit / Year Per cent Per cent p.a. Per cent p.a.

Aug-23 4.50 6.75 8.85-10.10

Sept-23 4.50 6.75 8.85-10.10

Oct-23 4.50 6.75 8.95-10.10

Nov-23 4.50 6.75 8.95-10.10

Dec-23 4.50 6.75 8.95-10.25

Jan-24 4.50 6.75 9.10-10.25

Feb-24 4.50 6.75 9.10-10.25

Mar-24 4.50 6.75 9.10-10.25

April-24 4.50 6.75 9.10-10.25

May-24 4.50 6.75 9.10-10.25

June-24 4.50 6.75 9.10-10.40

July-24 4.50 6.75 9.10-10.40

Aug-24 4.50 6.75 9.10-10.40

Source: Published Data
A. RBI continued to hold Repo rates at 6.50% from February 2023. Yields on 3-month maturity treasury bills are moved from 6.71% to 6.62% in August 2024. In
the long-term interest rates, yields on 1-year maturity AAA corporate bonds moved from 7.73% to 7.70%. The weighted average bank rate remained constant
at 6.75%.
B. Interest rate tightening across the globe appears to have almost halted in July. Out of the 39 major central banks that are tracked, 2 central banks raised
interest rates. The average rate hike was 70bp. This was due to 200bp raised by Russia and 20bp raised by Japan. BP stands for 1/100th.

49
Shipping Freight Index
Baltic Dry Index (BDI) 2023-24 2024-25
Commodity Baltic Dry Index (BDI)
3,500
Month-Year Dry Bulk
Aug-23 1,134
3,050
Sept-23 1,393

Oct-23 1,868
2,600
Nov-23 1,831

Dec-23 2,538
2,150
Jan-24 1,785

Feb-24 1,650
1,700 Mar-24 2,233

April-24 1,731
1,250 May-24 1,895
June-24 1,893

800 July-24 1925

Apr May June Jul Aug Sept Oct Nov Dec Jan Feb Mar
Aug-24 1683

A. In August 2024, the Baltic Dry Index decreased to 1,683 compared to 1,925 in the previous month. Source: Published Data

B. Dry bulk Index in August 2024 was about 48% higher than last year, 13% lower than the previous month, and 34% lower than the peaks witnessed in Dec
2023.
C. The global Exports for 77 countries experienced a 4% decrease in June 2024 compared to a 7% growth in May 2024.
D. The global Imports for 77 countries experienced a 4% decrease in June 2024 compared to a 4% growth in May 2024.

46
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