TMT offers fell as mills embarked on inventory liquidation making an already uncertain market more volatile, industry sources said.
Prices of ingots, billets, sponge iron, rolling, TMT and structural products displayed negative sentiment as market participants liquidated stocks even at lower prices fearing further drop in prices as the market approaches the Budget on February 29.
Meanwhile, the Budget Session of Parliament kicked off on February 23. The Rail Budget will be unveiled on Thursday, Economic Survey on Friday and the Union Budget next Monday.
Analysts believe the market is waiting for some real thrust in the Budget document that can spruce up consumption of finished steel.
Prices of TMT in various markets during the past one year (Rs/ton):
PRODUCT |
NAME OF THE MARKET |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Daily |
22-Feb-16 |
20-Feb-16 |
15-Feb-16 |
23-Jan-16 |
26-Aug-15 |
|||
TMT 28 mm |
GOA |
26,300 |
25,500 |
26,000 |
25,200 |
- |
▲ |
TMT 28 mm |
HYDERABAD |
25,000 |
25,000 |
- |
23,000 |
- |
⇔ |
TMT 28 mm |
JAIPUR |
26,700 |
27,100 |
26,700 |
25,100 |
- |
▼ |
TMT 28 mm |
JULLUNDHUR |
- |
25,800 |
25,000 |
23,800 |
- |
NA |
TMT 28 mm |
MUZAFFARNAGAR |
26,000 |
26,600 |
25,900 |
- |
- |
▼ |
TMT 28 mm |
RAIGARH |
23,300 |
23,500 |
22,800 |
- |
- |
▼ |
TMT 28 mm |
RAIPUR |
23,450 |
23,850 |
22,900 |
22,200 |
- |
▼ |
TMT 28 mm |
TURBO |
24,009 |
- |
- |
- |
- |
NA |
PRODUCT |
NAME OF THE MARKET |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Daily |
22-Feb-16 |
20-Feb-16 |
15-Feb-16 |
23-Jan-16 |
26-Aug-15 |
|||
TMT 20 mm |
MUMBAI |
28,300 |
28,050 |
26,950 |
26,300 |
- |
▲ |
TMT 20 mm |
MORIA |
- |
- |
31,300 |
31,200 |
- |
⇔ |
TMT 20 mm |
SHIVANGI |
- |
- |
- |
30,500 |
- |
⇔ |
TMT 20 mm |
AHMEDABAD |
- |
- |
- |
25,700 |
- |
⇔ |
TMT 20 mm |
AKSHAT |
- |
- |
- |
- |
- |
⇔ |
PRODUCT |
NAME OF THE MARKET |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Daily |
22-Feb-16 |
20-Feb-16 |
15-Feb-16 |
23-Jan-16 |
26-Aug-15 |
|||
TMT 16 mm |
DURGAPUR |
28,950 |
29,200 |
- |
28,500 |
- |
▼ |
PRODUCT |
NAME OF THE MARKET |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Daily |
22-Feb-16 |
20-Feb-16 |
15-Feb-16 |
23-Jan-16 |
26-Aug-15 |
|||
TMT 12 mm |
CHENNAI |
30,500 |
30,000 |
29,000 |
29,000 |
33,700 |
▲ |
TMT 12 mm |
BANGALORE |
- |
33,100 |
32,100 |
31,100 |
35,300 |
NA |
TMT 12 mm |
ROURKELLA |
- |
- |
- |
29,250 |
32,700 |
⇔ |
TMT 12 mm |
DURGAPUR |
- |
- |
- |
- |
- |
⇔ |
TMT 12 mm |
JAIPUR |
- |
- |
- |
- |
29,900 |
⇔ |
TMT 12 mm |
RATHI |
28,500 |
29,250 |
30,600 |
28,700 |
- |
▼ |
TMT 12 mm |
BHARATMATA |
37,800 |
38,100 |
37,400 |
35,600 |
38,300 |
▼ |
TMT 12 mm |
DOABA |
37,100 |
37,300 |
36,600 |
34,700 |
- |
▼ |
TMT 12 mm |
GYAN |
37,300 |
37,500 |
36,700 |
34,850 |
38,300 |
▼ |
TMT 12 mm |
JYOTI |
- |
- |
36,734 |
34,734 |
- |
⇔ |
TMT 12 mm |
KAMDHENU |
37,421 |
37,621 |
36,771 |
34,771 |
37,821 |
▼ |
TMT 12 mm |
FORTUN |
38,201 |
38,401 |
37,501 |
35,701 |
38,401 |
▼ |
TMT 12 mm |
NAINA |
38,401 |
- |
37,701 |
35,901 |
- |
NA |
Source: Traders
Prices of long products & structurals in various markets during past one year (Rs/ton):
PRODUCT |
NAME OF THE MARKET |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Daily |
22-Feb-16 |
20-Feb-16 |
15-Feb-16 |
23-Jan-16 |
26-Aug-15 |
|||
MELTING SCRAP |
MANDI GOBINDGARH |
21,600 |
21,900 |
21,000 |
20,000 |
- |
▼ |
CAST IRON |
MANDI GOVINDGARH - TOKA |
21,500 |
21,500 |
20,800 |
20,200 |
21,200 |
⇔ |
CAST IRON |
IMPORT |
22,000 |
22,200 |
21,350 |
20,750 |
21,900 |
▼ |
CAST IRON |
LUDHIANA |
20,200 |
20,100 |
20,000 |
20,300 |
- |
▲ |
PATRA |
MANDI GOVINDGARH |
- |
28,900 |
28,100 |
25,900 |
28,400 |
NA |
G PIPE |
MANDI GOVINDGARH |
30,000 |
30,300 |
29,700 |
27,200 |
- |
▼ |
T. IRON |
MANDI GOVINDGARH |
32,300 |
32,500 |
31,800 |
30,300 |
32,500 |
▼ |
ANGLE |
MANDI GOBINDGARH |
28,200 |
28,500 |
27,700 |
26,200 |
28,400 |
▼ |
ANGLE |
RAIPUR |
25,300 |
25,300 |
25,300 |
25,200 |
26,800 |
⇔ |
ANGLE |
MUMBAI |
27,500 |
27,500 |
27,500 |
27,100 |
29,300 |
⇔ |
CHANNEL |
GHAZIABAD |
30,100 |
30,100 |
30,100 |
29,300 |
31,100 |
⇔ |
CHANNEL |
RAIPUR |
26,000 |
26,000 |
25,500 |
25,400 |
27,500 |
⇔ |
WIRE ROD |
DURGAPUR |
25,600 |
25,600 |
25,500 |
26,000 |
25,500 |
⇔ |
WIRE ROD |
RAIPUR |
26,200 |
26,200 |
26,000 |
26,200 |
27,500 |
⇔ |
ROUND |
MANDI GOVINDGARH |
28,600 |
29,000 |
28,100 |
26,500 |
29,000 |
▼ |
GIRDER |
MANDI GOVINDGARH |
30,400 |
30,300 |
29,900 |
28,900 |
30,700 |
▲ |
MILL PIPE |
MANDI GOVINDGARH |
27,500 |
27,600 |
27,400 |
25,400 |
30,300 |
▼ |
Source: Traders