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8/6/2019 SteelMint Indian Steel Weekly Report as on 27 June 11
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Weekly Highlights
Ingot
30,00030,50031,00031,50032,00032,50033,00033,50034,00034,50035,000
P r i c e ( R s / M T )
Ingot Price Chart
previous (20.06.11) current (25.06.11)
Place Price(`̀̀̀/MT) Previous Week Change(`/MT )
Alang 32,750 33,000 -250
Chennai 32,000 32,000 0
Durgapur 31,300 31,700 -400
Ghaziabad 34,200 34,100 100
Hyderabad 30,500 31,100 -600
Jamshedpur 31,500 31,800 -300
Mandi Gobindgarh 34,000 34,200 -200
Mumbai 31,650 32,200 -550
Muzaffarnagar 33,900 34,000 -100
Indore 32,200 33,000 -800
Raipur 31,800 31,650 150
Rigarh 31,600 31,300 300
Rourkela 31,400 31,400 0
NCDEX - JULY 30,390 30,130 260
Ingot Prices as on 25 June
Price inclusive of Excise Duty, taxes extra
How it looks?
The strength in the ingot prices in Raipur and Raigarh may be short lived and will see a correction as the supply
position of sponge iron improves. The work on re-instating the licenses has already begun as far as the Orissa iron
ore trading licenses are concerned, and the supply of sponge iron will improve in the days to come which
strengthens the chances of reduction in ingot prices. Also, the cost of diesel has gone up by nearly 8% on Friday
which is expected to result in further margin tightening for the ingot manufacturers as the weak market conditions
will not allow them to pass on the price hikes completely.
Weekly Update
Sector: Steel
Date: 20-25 June 2011
Market last week
• Power tariff hike in Rourkel
pushed up Ingot prices marginally
• Demand continued to be wea
and production level remained
low
• Negative settlement of Jun
contract on NCDEX suppresse
the market sentiments
How it was?
Ingot prices at Raipur and Raigarh
went up because of short supply o
sponge iron in both the markets
Sponge iron prices in Orissa went u
because the trading licenses whic
were cancelled in the beginning of the
month started to take its toll. While
Ingot prices in the rest of the country
saw correction of nearly 2% due to
slowdown in demand.
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Scrap
15,000
20,000
25,000
30,000
P r i c e ( R
s / M T )
Scrap Price Chart
previous (20.06.11) current (25.06.11)
Place Price( `̀̀̀/MT) Previous Week Change (in ` )
Alang 22,900 23,150 -250
Chennai 24,500 24,500 0
Goa 23,000 23,500 -500
Hyderabad 24,000 24,000 0
Indore 23,000 24,100 -1100
Jamshedpur 24,500 24,500 0
Mandi Gobindgarh 26,500 26,500 0
Mumbai 24,000 24,000 0Raipur 25,200 25,300 -100
Excise Duty & taxes extra as applicable
HMS Scrap Prices as on 25 June
How it looks?
Currently, imported scrap is available at a lower rate which is expected to keep prices of domestic scrap in chec
Due to monsoons ahead, Ingot manufacturers may also keep production low and thus may not build their stock f
scrap.
Further, increase in diesel prices will make transportation dearer too, resulting in low margins for scrap trad
(anyone holding stock) and thus limiting chances for a price rise.
Market last week
• Advent of monsoons pulled down
scrap prices at few mandis’
•
Cheap Imported scrap affected thedomestic scrap price in Mumbai
Local scarp was offered at R
24,000/MT
• Imported Scrap prices went down
by $10; now offered at $465
470/MT in the internationa
Market (Turkey)
How it was?
It was a steady week for steel scr
market. Domestic Scrap pric
remained unchanged at most of t
mandis’. Steel manufacturers are no
keeping their production low due
monsoon season which has also ke
the prices in check.
Indore market remained the wo
performing market where pric
corrected by Rs 1,100/MT.
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TMT
30,000
32,00034,000
36,000
38,00040,000
P r i c e ( R
s / M T )
TMT Price Chart
previous (20.06.11) current (25.06.11)
Place Price(`̀̀̀/MT) Previous Week Change (in ` )
Chennai 37,300 37,000 300
Durgapur 36,400 37,000 -600
Hyderabad 34,200 34,700 -500
Indore 37,800 39,300 -1500
Jamshedpur 37,000 37,000 0
Mumbai 36,300 36,400 -100
Nagpur 37,400 37,500 -100
Raipur 34,850 34,850 0
TMT (12MM) Prices as on 25 June
Price inclusive of Excise Duty, taxes as applicable
How it looks?
Activity in the market remains low as buyers have held their purchases. Prices will only pick up once demand for
finished products improves. Domestic steel prices are unlikely to go up in the coming days due to a possible
correction in raw material costs and lower production figures. The outlook for the market is not very encouraging
and is expected to remain dismal during monsoons. To an extent, it will depend on how monsoon turns out.
Market last week
• Re-bar prices moved down sharply
at major mandis’.
• Construction activities slowdown amonsoon arrives earlier
• Interest rates and fuel cost move u
• Demand remains weak
How it was?
A sharp downward correction in Ingot
prices and weak demand has forced
Re-bar manufacturers to reduce their
prices. Re-bar prices at most of the
mandis’ went down by Rs 100-
1,500/MT. Whereas, Re-bar prices at
Chennai move up by Rs 300/MT. The
demand for finished goods was stil
uncertain as buyers held their
purchase. Also, they are not willing to
pay much.
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