India Steel Market Watch
December 14: Domestic scrap offers showed a distinctive firm trend for the second consecutive week, led by buying trend, sources informed ISMW.
The domestic prices remained firm as the rupee value eased further to 67.06 against the dollar. The rupee’s value was 66.57 in the previous week.
Imported scrap offers remained unchanged at $192 per ton. The shredded variety is procured at $205 per ton.
Scrap prices moved in the range of Rs 16,000 -19,000 per ton.
Scrap currently contributes 18-20% to India's crude steel-making.
In Mandi Govindgarh, scrap rates firmed up by Rs 600 on a weekly basis to settle at Rs 17,600 per ton. In Jaipur, rates moved up by Rs 700 to 19,000 per ton.
Rolling rates firmed up in Alang over the last one week by Rs 800-1,100 per ton.
Sources said demand for ship scrap from steel re-rolling mills is very dull because of the weak steel market in general in India. Around 3% of total steel consumption in India comes from ship scrap.
The sector is mainly dependent on the real estate and infrastructure industries, and both are not doing well, sources said. However, domestic offers remained firm as the value of the rupee eased, further making imports expensive.
US$ 1=Rs 67.06
Following are scrap and rolling prices in different markets:
Market |
Prices as on 11.14.2015 |
Prices as on 11.21.2015 |
Prices as on 11.28.2015 |
Prices as on 12.07.2015 |
Prices as on 12.12.2015 |
Weekly change from 12.07.2015 |
Monthly Change from 11.14.2015 |
Scrap |
|||||||
Mandi Govindgarh |
17700 |
17600 |
16200 |
17000 |
17600 |
600 |
-100 |
Kolkata |
|
|
|
|
|
N/A |
N/A |
Alang |
|
17000 |
16100 |
16300 |
|
N/A |
N/A |
Raipur |
|
|
|
|
|
N/A |
N/A |
Jaipur |
19000 |
|
18000 |
18300 |
19000 |
700 |
- |
Ludhiana |
20400 |
|
18600 |
19100 |
|
N/A |
N/A |
Muzaffarnagar |
|
|
|
|
|
N/A |
N/A |
Mumbai |
16500 |
|
|
|
16000 |
N/A |
-500 |
Patna |
|
|
|
|
|
N/A |
N/A |
Delhi |
|
|
|
|
|
N/A |
N/A |
Gaziabad |
|
|
|
|
|
N/A |
N/A |
Bhilai |
17000 |
16700 |
16000 |
16000 |
|
N/A |
N/A |
Ahmedabad |
|
|
|
|
16200 |
N/A |
N/A |
Durgapur |
|
|
|
|
|
N/A |
N/A |
Jammu |
|
|
|
|
|
N/A |
N/A |
Kanpur |
|
|
|
|
|
N/A |
N/A |
Indore |
|
|
|
|
|
N/A |
N/A |
Nagpur |
|
|
|
|
|
N/A |
N/A |
Jalna |
|
|
|
|
|
N/A |
N/A |
Market |
Prices as on 11.14.2015 |
Prices as on 11.21.2015 |
Prices as on 11.28.2015 |
Prices as on 12.07.2015 |
Prices as on 12.12.2015 |
Weekly change from 12.07.2015 |
Monthly Change from 11.14.2015 |
Rolling |
|||||||
Mandi Govindgarh |
|||||||
10 Ani |
23500 |
|
|
|
|
N/A |
N/A |
8 Ani |
23300 |
|
|
|
|
N/A |
N/A |
6 Ani |
22900 |
|
|
|
|
N/A |
N/A |
2/5 Kg |
22300 |
|
|
|
|
N/A |
N/A |
5/10 Kg |
23000 |
|
|
|
|
N/A |
N/A |
1/2 Kg |
20300 |
|
|
|
|
N/A |
N/A |
Alang |
|||||||
12 Ani |
20600 |
20600 |
19300 |
20300 |
21300 |
1000 |
700 |
10 Ani |
20400 |
20400 |
19100 |
20200 |
21200 |
1000 |
800 |
8 Ani |
20200 |
20200 |
18800 |
20000 |
20800 |
800 |
600 |
6 Ani |
19900 |
19900 |
18500 |
19700 |
20700 |
1000 |
800 |
4 Ani |
19300 |
19300 |
18000 |
19200 |
20300 |
1100 |
1000 |
5 Ani |
|
|
|
|
|
N/A |
N/A |
1/2 Kg |
18200 |
18200 |
17100 |
18300 |
|
N/A |
N/A |
Source: Traders