India Steel Market Watch
November 9: Domestic scrap offers remained volatile on low inventory levels in some regions during the festive season, industry sources told ISMW.
The rupee depreciated further to Rs 66.38 against the dollar. Imported scrap offers rose to $191 per ton as against $188 per ton earlier, making procurement difficult for end- users.
The shredded variety remained firm at $205 per ton.
Scrap prices moved in a range of Rs 16,100 -20,000 per ton.
Scrap currently contributes 18-20% to India's crude steel-making.
In Mandi Govindgarh, scrap rates gained by Rs 300 on a weekly basis to settle at Rs 18,000 per ton. Scrap prices rose by Rs 300 per ton in Alang, Rs 200 per ton in Ahmedabad and Rs 300 per ton in Indore. However, prices fell by Rs 500 per ton and Rs 400 per ton in Muzaffarpur and Kanpur.
Rolling rates remained volatile in Mandi while prices firmed up by Rs 300-900 per ton in Alang.
Sources said demand for ship scrap from steel re-rolling mills is very dull because of the weak steel market in general in India. Around 3% of total steel consumption in India comes from ship scrap.
The sector is mainly dependent on the real estate and infrastructure industries, and both are not doing well, sources said.
US$ 1=Rs 66.38
Following are scrap and rolling prices in different markets:
Market |
Prices as on 10.10.2015 |
Prices as on 10.17.2015 |
Prices as on 10.23.2015 |
Prices as on 10.31.2015 |
Prices as on 11.07.2015 |
Weekly change from 10.31.2015 |
Monthly Change from 10.10.2015 |
Scrap |
|||||||
Mandi Govindgarh |
19800 |
19800 |
19400 |
17700 |
18000 |
300 |
-1800 |
Kolkata |
|
|
|
|
|
N/A |
N/A |
Alang |
|
17900 |
|
16100 |
16400 |
300 |
N/A |
Raipur |
|
|
|
|
|
N/A |
N/A |
Jaipur |
21000 |
20200 |
19700 |
18700 |
|
N/A |
N/A |
Ludhiana |
22200 |
22100 |
21700 |
20000 |
20000 |
- |
-2200 |
Muzaffarnagar |
|
|
|
19000 |
18500 |
-500 |
N/A |
Mumbai |
18100 |
|
|
|
|
N/A |
N/A |
Patna |
|
|
|
|
|
N/A |
N/A |
Delhi |
|
|
|
|
|
N/A |
N/A |
Gaziabad |
|
|
|
|
|
N/A |
N/A |
Bhilai |
|
18500 |
18500 |
17000 |
17000 |
- |
N/A |
Ahmedabad |
|
|
|
15900 |
16100 |
200 |
N/A |
Durgapur |
|
|
|
17500 |
|
N/A |
N/A |
Jammu |
|
|
|
|
|
N/A |
N/A |
Kanpur |
|
|
|
18200 |
17800 |
-400 |
N/A |
Indore |
|
|
|
18300 |
18600 |
300 |
N/A |
Nagpur |
|
|
|
|
|
N/A |
N/A |
Jalna |
|
|
|
|
|
N/A |
N/A |
Market |
Prices as on 10.10.2015 |
Prices as on 10.17.2015 |
Prices as on 10.23.2015 |
Prices as on 10.31.2015 |
Prices as on 11.07.2015 |
Weekly change from 10.31.2015 |
Monthly Change from 10.10.2015 |
Rolling |
|||||||
Mandi Govindgarh |
|||||||
10 Ani |
24700 |
25000 |
|
23600 |
23500 |
-100 |
-1200 |
8 Ani |
24500 |
24800 |
|
23400 |
23300 |
-100 |
-1200 |
6 Ani |
24100 |
24500 |
|
22800 |
22900 |
100 |
-1200 |
2/5 Kg |
23700 |
24000 |
|
22300 |
22300 |
- |
-1400 |
5/10 Kg |
24200 |
24500 |
|
22900 |
23000 |
100 |
-1200 |
1/2 Kg |
22100 |
22500 |
|
20300 |
20300 |
- |
-1800 |
Alang |
|||||||
12 Ani |
21800 |
22300 |
22700 |
20400 |
20800 |
400 |
-1000 |
10 Ani |
21700 |
22200 |
22600 |
20300 |
20700 |
400 |
-1000 |
8 Ani |
21400 |
22100 |
22200 |
20100 |
20400 |
300 |
-1000 |
6 Ani |
21100 |
21800 |
21900 |
19700 |
20000 |
300 |
-1100 |
4 Ani |
20500 |
21400 |
21400 |
19200 |
19500 |
300 |
-1000 |
5 Ani |
|
|
|
|
|
N/A |
N/A |
1/2 Kg |
19400 |
19700 |
18700 |
17600 |
18500 |
900 |
-900 |
Source: Traders