India Steel Market Watch
November 2: Ingot offers showed easing trends in all the regions on low buying support from end-users, reversing last week’s volatile trend, industry sources said.
Offers were down by Rs 200-1,700 per ton across locations.
Prices moved in the range of Rs 19,800 – Rs 24,900 per ton.
The billets market also fell in tandem across locations owing to bearish trends.
Billet prices were down by Rs 700-Rs 1500 per ton, with the steepest fall seen in Rourkela.
Prices ruled in the range of Rs 20,000 – Rs 23,600 per ton.
RINL offered billets (125x125 mm) at Rs 35,500 per ton (ED included) in September 2015 as against same price in the previous year.
Slowdown in demand from semi-finished and finished steel markets has 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.
Following are ingot and billet offers in domestic markets:
|
3-Oct-15 |
10-Oct-15 |
17-Oct-15 |
23-Oct-15 |
31-Oct-15 |
|
|
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 |
Ingot |
|||||||
Mandi Govindgarh |
25700 |
25400 |
25300 |
24900 |
23200 |
-1700 |
-2500 |
Kolkata |
26300 |
25800 |
25900 |
25600 |
24200 |
-1400 |
-2100 |
Muzaffarnagar |
25200 |
24400 |
24500 |
24100 |
23200 |
-900 |
-2000 |
Gaziabad |
25100 |
|
|
24000 |
|
N/A |
N/A |
Kanpur |
|
|
|
23350 |
22700 |
-650 |
N/A |
Bhilai |
24400 |
|
23600 |
23000 |
21900 |
-1100 |
-2500 |
Durgapur |
26000 |
25500 |
25600 |
25300 |
23900 |
-1400 |
-2100 |
Alang |
22800 |
23000 |
23100 |
22500 |
21800 |
-700 |
-1000 |
Raipur |
22300 |
21600 |
21600 |
20800 |
19900 |
-900 |
-2400 |
Rourkela |
21700 |
21000 |
21000 |
20700 |
19800 |
-900 |
-1900 |
Jaipur |
24700 |
24100 |
23900 |
23200 |
22300 |
-900 |
-2400 |
Jammu |
|
|
|
|
|
N/A |
N/A |
Ahmedabad |
|
|
|
22800 |
21800 |
-1000 |
N/A |
Hyderabad |
23500 |
23000 |
23000 |
22700 |
22000 |
-700 |
-1500 |
Ludhiana |
26400 |
25800 |
25700 |
25200 |
23500 |
-1700 |
-2900 |
Raigarh |
22400 |
21700 |
21600 |
20800 |
20300 |
-500 |
-2100 |
Indore |
26800 |
|
26200 |
25700 |
24900 |
-800 |
-1900 |
Patna |
|
|
|
|
|
N/A |
N/A |
Orissa |
|
|
|
|
|
N/A |
N/A |
Mumbai |
23300 |
22900 |
22800 |
22700 |
21800 |
-900 |
-1500 |
Nagpur |
|
|
|
|
|
N/A |
N/A |
Goa |
21800 |
21500 |
21300 |
21400 |
21200 |
-200 |
-600 |
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 |
Billet |
|||||||
Mandi Govindgarh |
25800 |
25400 |
25300 |
24900 |
23400 |
-1500 |
-2400 |
Kolkata |
|
|
|
|
|
N/A |
N/A |
Kutch |
|
|
|
|
|
N/A |
N/A |
Ludhiana |
|
|
|
|
|
N/A |
N/A |
HP |
|
|
|
|
|
N/A |
N/A |
Mumbai |
|
|
|
|
|
N/A |
N/A |
Raipur |
22800 |
22200 |
22200 |
21300 |
20400 |
-900 |
-2400 |
Jalandhar |
|
|
|
|
|
N/A |
N/A |
Rourkela |
22100 |
|
21100 |
21200 |
20000 |
-1200 |
-2100 |
Ahmedabad |
|
|
|
23200 |
|
N/A |
N/A |
Goa |
22000 |
21700 |
21700 |
21600 |
|
N/A |
N/A |
Nagpur |
|
|
21700 |
|
|
N/A |
N/A |
Durgapur |
26400 |
25800 |
25900 |
|
|
N/A |
N/A |
Hyderabad |
23500 |
23000 |
23000 |
22700 |
22000 |
-700 |
-1500 |
Ghaziabad |
25500 |
24400 |
24700 |
24400 |
23600 |
-800 |
-1900 |
Source: Traders