SteelMint in discussion with market participants assessed that correction of Semi Finish & Finished Steel prices expected by INR 500-700/MT in coming weeks because of low buying of Finished Steel products across India.
The sales of Re-bar & Structures across the Country are down slightly from previous week. SteelMint sources confirmed that from past few days, purchases are made in low quantity with an anticipation that prices may correct in coming days.
Retailers & stockiest also highlights that demand will come down in coming weeks, largely due to seasonal slowdown. Most of the stocking has been done and very limited scope of price rise in this circumstances.
MS Ingot Prices in INR/MT as on 10 Feb, 2014
|
Region |
Place |
Price |
Change |
W-O-W |
|
North India |
Mandi Gobindgarh |
33,950 |
– 100 |
+ 250 |
|
|
Ghaziabad* |
33,000 |
– 100 |
0 |
|
|
Ludhiana |
34,350 |
– 200 |
+ 150 |
|
|
Muzaffarnagar |
32,650 |
– 150 |
+ 250 |
|
|
Kanpur |
32,650 |
– 100 |
+ 200 |
|
East India |
Rourkela |
29,500 |
– 150 |
– 150 |
|
|
Durgapur |
30,450 |
– 150 |
– 50 |
|
|
Kolkata |
30,750 |
– 150 |
– 50 |
|
Central India |
Raipur* |
30,050 |
– 250 |
– 350 |
|
|
Raigarh |
30,000 |
– 100 |
– 100 |
|
West India |
Bhiwadi |
32,350 |
0 |
+ 200 |
|
|
Mumbai* |
32,300 |
0 |
0 |
|
|
Goa |
32,000 |
– 100 |
– 100 |
|
|
Jaipur |
32,100 |
– 300 |
– 400 |
|
|
Ahmedabad |
32,450 |
– 150 |
– 50 |
|
South India |
Hyderabad |
32,300 |
– 100 |
+ 500 |
|
|
Chennai |
32,500 |
0 |
0 |
|
|
Bangalore |
31,800 |
0 |
0 |
Daily Assessment
Excise duty @12.36; VAT as applicable
*Payment next day
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