- Ingot prices in Mandi Gobindgarh up by INR 1,500/MT (M-o-M)
- Ingot offers in Raipur & Durgapur slightly up by INR 100-300/MT (M-o-M)
- Sponge iron in Durgapur (West Bengal) down by INR 900/MT (M-o-M), whereas Raipur Sponge iron prices up by INR 1,000/MT (M-o-M)
Low Scrap availability in Scrap based markets stabilized the Semi Finish & Re-bar markets which led to no major changes in Punjab, Gujarat, Chennai & Maharashtra.
Market participants believe Semi Finish & Finished Steel prices may witness correction by INR 500-1,000/MT owing to following factors:
- Slightly falling Sponge iron prices in Central & Eastern India.
- Indian importers reduced its imported Scrap offers by USD 10-15/MT (INR 600-900/MT) compare to January, 2014 delivery.
- Re-bar & Structural buying are sluggish across India due to less new government projects as Lok Sabha election is scheduled in May’14.
[su_quote cite=” commented a Structure manufacturer based in Central India“]Upcoming elections and end of seasonal demand are affecting construction activities owing to which sales of Re-bar & Structures drop slightly.[/su_quote]
MS Ingot Prices in INR/MT as on 18 Feb, 2014
|
Place |
Price |
Change |
W-o-W |
M-o-M |
|
Mandi Gobindgarh |
34,550 |
+ 50 |
+ 300 |
+ 1,550 |
|
Ghaziabad* |
33,300 |
0 |
+ 100 |
+ 1,050 |
|
Ludhiana |
34,500 |
0 |
0 |
+ 1,200 |
|
Muzaffarnagar |
33,200 |
+ 100 |
+ 300 |
+ 1,500 |
|
Kanpur |
32,850 |
0 |
+ 50 |
+ 1,100 |
|
Rourkela |
29,450 |
– 50 |
– 150 |
+ 950 |
|
Durgapur |
30,100 |
+ 50 |
– 350 |
0 |
|
Kolkata |
30,400 |
+ 50 |
– 350 |
0 |
|
Raipur* |
30,000 |
+ 100 |
– 200 |
+ 300 |
|
Raigarh |
30,200 |
+ 100 |
+ 50 |
+ 650 |
|
Bhiwadi |
32,650 |
0 |
+ 200 |
+ 1,100 |
|
Mumbai* |
32,250 |
+ 50 |
– 150 |
– 450 |
|
Goa |
32,000 |
0 |
0 |
+ 100 |
|
Jaipur |
32,600 |
+ 200 |
+ 300 |
+ 900 |
|
Ahmedabad |
33,250 |
+ 450 |
+ 700 |
+ 500 |
|
Hyderabad |
32,000 |
0 |
– 200 |
+ 200 |
|
Chennai |
32,500 |
0 |
0 |
0 |
|
Bangalore |
31,800 |
0 |
0 |
+ 450 |
Basic Prices
Excise duty @12.36; VAT as applicable
*Payment next day
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