India Steel Market Watch
November 16: Domestic scrap offers remained volatile on low inventory levels in some regions during the festive season, industry sources told ISMW.
The rupee appreciated marginally to 65.99 against the dollar. Imported scrap offers remained unchanged at $191 per ton. The shredded variety is procured at $205 per ton.
Scrap prices moved in a range of Rs 16,500 -20,400 per ton.
Scrap currently contributes 18-20% to India's crude steel-making.
In Mandi Govindgarh, scrap rates fell by Rs 300 on a weekly basis to settle at Rs 17,700 per ton. Scrap prices rose by Rs 400 per ton in Ludhiana.
Rolling rates fell to Rs 100-300 per ton in Alang.
Sources said demand for ship scrap from steel re-rolling mills is very dull because of the weak steel market in general in India. Around 3% of total steel consumption in India comes from ship scrap.
The sector is mainly dependent on the real estate and infrastructure industries, and both are not doing well, sources said.
US$ 1=Rs 65.99
Following are scrap and rolling prices in different markets:
Market |
Prices as on 10.17.2015 |
Prices as on 10.23.2015 |
Prices as on 10.31.2015 |
Prices as on 11.07.2015 |
Prices as on 11.14.2015 |
Weekly change from 11.07.2015 |
Monthly Change from 10.17.2015 |
Scrap |
|||||||
Mandi Govindgarh |
19800 |
19400 |
17700 |
18000 |
17700 |
-300 |
-2100 |
Kolkata |
|
|
|
|
|
N/A |
N/A |
Alang |
17900 |
|
16100 |
16400 |
|
N/A |
N/A |
Raipur |
|
|
|
|
|
N/A |
N/A |
Jaipur |
20200 |
19700 |
18700 |
|
19000 |
N/A |
-1200 |
Ludhiana |
22100 |
21700 |
20000 |
20000 |
20400 |
400 |
-1700 |
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 |
18500 |
18500 |
17000 |
17000 |
17000 |
- |
-1500 |
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 10.17.2015 |
Prices as on 10.23.2015 |
Prices as on 10.31.2015 |
Prices as on 11.07.2015 |
Prices as on 11.14.2015 |
Weekly change from 11.07.2015 |
Monthly Change from 10.17.2015 |
Rolling |
|||||||
Mandi Govindgarh |
|||||||
10 Ani |
25000 |
|
23600 |
23500 |
23500 |
- |
-1500 |
8 Ani |
24800 |
|
23400 |
23300 |
23300 |
- |
-1500 |
6 Ani |
24500 |
|
22800 |
22900 |
22900 |
- |
-1600 |
2/5 Kg |
24000 |
|
22300 |
22300 |
22300 |
- |
-1700 |
5/10 Kg |
24500 |
|
22900 |
23000 |
23000 |
- |
-1500 |
1/2 Kg |
22500 |
|
20300 |
20300 |
20300 |
- |
-2200 |
Alang |
|||||||
12 Ani |
22300 |
22700 |
20400 |
20800 |
20600 |
-200 |
-1700 |
10 Ani |
22200 |
22600 |
20300 |
20700 |
20400 |
-300 |
-1800 |
8 Ani |
22100 |
22200 |
20100 |
20400 |
20200 |
-200 |
-1900 |
6 Ani |
21800 |
21900 |
19700 |
20000 |
19900 |
-100 |
-1900 |
4 Ani |
21400 |
21400 |
19200 |
19500 |
19300 |
-200 |
-2100 |
5 Ani |
|
|
|
|
|
N/A |
N/A |
1/2 Kg |
19700 |
18700 |
17600 |
18500 |
18200 |
-300 |
-1500 |
Source: Traders