India Steel Market Watch
November 30: Domestic scrap offers eased on low buying support in some regions, industry sources told ISMW.
The rupee depreciated to 66.70 against the dollar. Imported scrap offers remained firm at $194 per ton. The shredded variety is procured at $205 per ton.
Scrap prices moved in a range of Rs 16,000 -18,600 per ton.
Scrap currently contributes 18-20% to India's crude steel-making.
In Mandi Govindgarh, scrap rates fell by Rs 1,400 on a weekly basis to settle at Rs 16,200 per ton. Scrap prices fell by Rs 900 per ton in Alang and Rs 700 per ton in Bhilai.
Rolling rates remained stable in Alang.
Sources said demand for ship scrap from steel re-rolling mills is very dull because of the weak steel market in general in India. Around 3% of total steel consumption in India comes from ship scrap.
The sector is mainly dependent on the real estate and infrastructure industries, and both are not doing well, sources said.
US$ 1=Rs 66.70
Following are scrap and rolling prices in different markets:
Market |
Prices as on 10.31.2015 |
Prices as on 11.07.2015 |
Prices as on 11.14.2015 |
Prices as on 11.21.2015 |
Prices as on 11.28.2015 |
Weekly change from 11.21.2015 |
Monthly Change from 10.31.2015 |
Scrap |
|||||||
Mandi Govindgarh |
17700 |
18000 |
17700 |
17600 |
16200 |
-1400 |
-1500 |
Kolkata |
|
|
|
|
|
N/A |
N/A |
Alang |
16100 |
16400 |
|
17000 |
16100 |
-900 |
0 |
Raipur |
|
|
|
|
|
N/A |
N/A |
Jaipur |
18700 |
|
19000 |
|
18000 |
N/A |
-700 |
Ludhiana |
20000 |
20000 |
20400 |
|
18600 |
N/A |
-1400 |
Muzaffarnagar |
19000 |
18500 |
|
|
|
N/A |
N/A |
Mumbai |
|
|
16500 |
|
|
N/A |
N/A |
Patna |
|
|
|
|
|
N/A |
N/A |
Delhi |
|
|
|
|
|
N/A |
N/A |
Gaziabad |
|
|
|
|
|
N/A |
N/A |
Bhilai |
17000 |
17000 |
17000 |
16700 |
16000 |
-700 |
-1000 |
Ahmedabad |
15900 |
16100 |
|
|
|
N/A |
N/A |
Durgapur |
17500 |
|
|
|
|
N/A |
N/A |
Jammu |
|
|
|
|
|
N/A |
N/A |
Kanpur |
18200 |
17800 |
|
|
|
N/A |
N/A |
Indore |
18300 |
18600 |
|
|
|
N/A |
N/A |
Nagpur |
|
|
|
|
|
N/A |
N/A |
Jalna |
|
|
|
|
|
N/A |
N/A |
Market |
Prices as on 10.31.2015 |
Prices as on 11.07.2015 |
Prices as on 11.14.2015 |
Prices as on 11.21.2015 |
Prices as on 11.28.2015 |
Weekly change from 11.21.2015 |
Monthly Change from 10.31.2015 |
Rolling |
|||||||
Mandi Govindgarh |
|||||||
10 Ani |
23600 |
23500 |
23500 |
|
|
N/A |
N/A |
8 Ani |
23400 |
23300 |
23300 |
|
|
N/A |
N/A |
6 Ani |
22800 |
22900 |
22900 |
|
|
N/A |
N/A |
2/5 Kg |
22300 |
22300 |
22300 |
|
|
N/A |
N/A |
5/10 Kg |
22900 |
23000 |
23000 |
|
|
N/A |
N/A |
1/2 Kg |
20300 |
20300 |
20300 |
|
|
N/A |
N/A |
Alang |
|||||||
12 Ani |
20400 |
20800 |
20600 |
20600 |
19300 |
-1300 |
-1100 |
10 Ani |
20300 |
20700 |
20400 |
20400 |
19100 |
-1300 |
-1200 |
8 Ani |
20100 |
20400 |
20200 |
20200 |
18800 |
-1400 |
-1300 |
6 Ani |
19700 |
20000 |
19900 |
19900 |
18500 |
-1400 |
-1200 |
4 Ani |
19200 |
19500 |
19300 |
19300 |
18000 |
-1300 |
-1200 |
5 Ani |
|
|
|
|
|
N/A |
N/A |
1/2 Kg |
17600 |
18500 |
18200 |
18200 |
17100 |
-1100 |
-500 |
Source: Traders