India Steel Market Watch
November 2: Domestic scrap offers eased on low procurement levels and trading by end-users during the festive season, industry sources told ISMW.
With the rupee depreciating further to Rs 65.61 to a dollar, imported scrap offers fell further to $188 per ton from the earlier $192 per ton on low booking and a possible increase in inventory levels. The shredded variety also moved down to $204 against the previous week’s $208 per ton.
Scrap prices moved in a range of Rs 15,900 -20,000 per ton.
Scrap currently contributes 18-20% to India's crude steel-making.
In Mandi Govindgarh, scrap rates lost ground by Rs 1,700 on a weekly basis to settle down at Rs 17,700 per ton. Scrap prices fell in the range of Rs 1,000 per ton in Jaipur, Rs 1,700 per ton in Ludhiana and Rs 1,500 per ton in Bhilai.
Rolling rates also dipped in Alang by Rs 1,100-2,300 per ton.
The numbers of ships arriving at Alang for breaking has fallen from 40-45 per month around two years back to 15-20 a month at present. As against 212 ships over January-August, 2014, a much lower number of 143 arrived for breaking during the same period in the current calendar, sources said.
Sources said demand for ship scrap from steel re-rolling mills is very dull because of the weak steel market in general in India. Around 3% of total steel consumption in India comes from ship scrap.
The sector is mainly dependent on the real estate and infrastructure industries, and both are not doing well, sources said.
US$ 1=Rs 65.61
Following are scrap and rolling prices in different markets:
Market |
Prices as on 10.03.2015 |
Prices as on 10.10.2015 |
Prices as on 10.17.2015 |
Prices as on 10.23.2015 |
Prices as on 10.31.2015 |
Weekly change from 10.23.2015 |
Monthly Change from 10.03.2015 |
Scrap |
|||||||
Mandi Govindgarh |
20300 |
19800 |
19800 |
19400 |
17700 |
-1700 |
-2600 |
Kolkata |
|
|
|
|
|
N/A |
N/A |
Alang |
18200 |
|
17900 |
|
16100 |
N/A |
-2100 |
Raipur |
|
|
|
|
|
N/A |
N/A |
Jaipur |
21800 |
21000 |
20200 |
19700 |
18700 |
-1000 |
-3100 |
Ludhiana |
22600 |
22200 |
22100 |
21700 |
20000 |
-1700 |
-2600 |
Muzaffarnagar |
|
|
|
|
19000 |
N/A |
N/A |
Mumbai |
18100 |
18100 |
|
|
|
N/A |
N/A |
Patna |
|
|
|
|
|
N/A |
N/A |
Delhi |
|
|
|
|
|
N/A |
N/A |
Gaziabad |
|
|
|
|
|
N/A |
N/A |
Bhilai |
18500 |
|
18500 |
18500 |
17000 |
-1500 |
-1500 |
Ahmedabad |
|
|
|
|
15900 |
N/A |
N/A |
Durgapur |
|
|
|
|
17500 |
N/A |
N/A |
Jammu |
|
|
|
|
|
N/A |
N/A |
Kanpur |
|
|
|
|
18200 |
N/A |
N/A |
Indore |
|
|
|
|
18300 |
N/A |
N/A |
Nagpur |
|
|
|
|
|
N/A |
N/A |
Jalna |
|
|
|
|
|
N/A |
N/A |
Market |
Prices as on 10.03.2015 |
Prices as on 10.10.2015 |
Prices as on 10.17.2015 |
Prices as on 10.23.2015 |
Prices as on 10.31.2015 |
Weekly change from 10.23.2015 |
Monthly Change from 10.03.2015 |
Rolling |
|||||||
Mandi Govindgarh |
|||||||
10 Ani |
25800 |
24700 |
25000 |
|
23600 |
N/A |
-2200 |
8 Ani |
25600 |
24500 |
24800 |
|
23400 |
N/A |
-2200 |
6 Ani |
25200 |
24100 |
24500 |
|
22800 |
N/A |
-2400 |
2/5 Kg |
24600 |
23700 |
24000 |
|
22300 |
N/A |
-2300 |
5/10 Kg |
25300 |
24200 |
24500 |
|
22900 |
N/A |
-2400 |
1/2 Kg |
23200 |
22100 |
22500 |
|
20300 |
N/A |
-2900 |
Alang |
|||||||
12 Ani |
22200 |
21800 |
22300 |
22700 |
20400 |
-2300 |
-1800 |
10 Ani |
22100 |
21700 |
22200 |
22600 |
20300 |
-2300 |
-1800 |
8 Ani |
21800 |
21400 |
22100 |
22200 |
20100 |
-2100 |
-1700 |
6 Ani |
21400 |
21100 |
21800 |
21900 |
19700 |
-2200 |
-1700 |
4 Ani |
20700 |
20500 |
21400 |
21400 |
19200 |
-2200 |
-1500 |
5 Ani |
|
|
|
|
|
N/A |
N/A |
1/2 Kg |
19500 |
19400 |
19700 |
18700 |
17600 |
-1100 |
-1900 |
Source: Traders