India Steel Market Watch
September 28: Ingot offers showed easing trends on low buying support from end-users as inventory levels grew with the industry looking at domestic offers, industry sources said.
Offers were down by Rs 100-700 per ton in most of the locations.
The billets market also fell in quite a few locations.
Billet prices were down by Rs 500-1,200 per ton in the markets of Mandi Govindgarh, Raipur, Rourkela, Goa, Durgapur, Hyderabad and Ghaziabad.
RINL offered billets (125x125 mm) at Rs 35,500 per ton (ED included) in September 2015 as against the same price in the previous year.
Domestic MS billet-makers are worried about the direction the market might follow, as local demand from end-users has slowed down against last month.
Slowdown in demand from semi-finished and finished steel markets have worried Indian MS billet manufacturers.
Decline in billet prices has been noticed in central and western India amidst poor rebar sales and improved availability of billets. Alongside, availability of imported scrap may increase shortly as despatches of booked material may take off this month.
Following are ingot and billet prices in different markets:
Market |
Prices as on 08.29.2015 |
Prices as on 09.04.2015 |
Prices as on 09.12.2015 |
Prices as on 09.19.2015 |
Prices as on 09.26.2015 |
Weekly change from 09.19.2015 |
Monthly Change from 08.29.2015 |
Billet |
|||||||
Mandi Govindgarh |
27100 |
27500 |
27400 |
27050 |
26400 |
-650 |
-700 |
Kolkata |
|
|
|
|
|
N/A |
N/A |
Kutch |
|
|
|
|
|
N/A |
N/A |
Ludhiana |
|
|
|
|
|
N/A |
N/A |
HP |
|
|
|
|
|
N/A |
N/A |
Mumbai |
25700 |
|
|
|
|
N/A |
N/A |
Raipur |
|
23800 |
24000 |
24000 |
23200 |
-800 |
N/A |
Jalandhar |
|
|
|
|
|
N/A |
N/A |
Rourkela |
|
|
|
23500 |
23000 |
-500 |
N/A |
Ahmedabad |
26000 |
25900 |
25400 |
25200 |
|
N/A |
N/A |
Goa |
24000 |
24400 |
23500 |
23200 |
23000 |
-200 |
-1000 |
Nagpur |
|
|
|
|
|
N/A |
N/A |
Durgapur |
28000 |
28600 |
28600 |
28600 |
27400 |
-1200 |
-600 |
Hyderabad |
25000 |
25000 |
24500 |
24500 |
24000 |
-500 |
-1000 |
Ghaziabad |
27200 |
27600 |
|
27100 |
26400 |
-700 |
-800 |
Source: Traders