MS Ingot:
Mandi, a good buyer of Ingot/Billet from Central & Eastern India, (Raipur, Durgapur & Rourkela) is facing transportation issue owing to festival of colour (Holi). It has put a hold on the Ingot/Billet delivery from Central & Eastern region to Mandi Gobindgarh.
[su_quote cite=”A manufacturer based in Mandi Gobindgarh commented“]Sales of finished steel are at same level. But, shortage of Ingot/Billet is supporting the semi finish & finished steel prices, which otherwise could have resulted in price correction.[/su_quote]
Brokers & Traders are of the view that after Holi, market will shot up in the range of nearly INR 400-600/MT. But dull sales of finished steel will not support the price hike and market will remain unchanged. After the price hike, market in Mandi & Raipur is expected to stand at around INR 33,500-34,000/MT and INR 29,300-29,600/MT respectively. Offers at Durgapur will be reaching at INR 29,600-30,000/MT, while Rourkela is to reach at around INR 28,500-29,000/MT.
Sponge Iron:
Prices remain volatile in Chhattisgarh which is amongst the major Sponge iron producer in India with an installed capacity of nearly 11.8 MnT. Sponge iron markets in the state were fluctuating in the range of nearly INR 300-500/MT. In beginning of the month, Scrap prices fall by USD 10-12/MT and appreciated INR made Scrap prices dearer to furnace manufacturer of West & North India. But this week, prices again increased by USD 7-8/MT and depreciated INR supported the Sponge buying from nearby areas. Therefore Sponge prices remain firm with low downside.
Indian MS Ingot, Billet & Sponge Iron Prices as on 15 Mar, 2014
|
Particular |
MS Ingot |
W-o-W |
MS Billet |
W-o-W |
Sponge Iron |
W-o-W |
|
Mandi Gobindgarh |
34,000 |
– 200 |
34,300 |
– 200 |
23,200 |
0 |
|
Ghaziabad* |
32,800 |
– 350 |
– |
– |
– |
– |
|
Ludhiana |
34,100 |
– 100 |
– |
– |
– |
– |
|
Muzaffarnagar |
32,550 |
– 50 |
– |
– |
– |
– |
|
Kanpur |
32,600 |
0 |
– |
– |
– |
– |
|
Rourkela |
28,900 |
– 300 |
29,200 |
– 300 |
18,650 |
– 250 |
|
Durgapur |
30,100 |
+ 100 |
30,500 |
– 200 |
20,300 |
0 |
|
Kolkata |
30,400 |
+ 100 |
30,800 |
– 200 |
– |
– |
|
Raipur* |
29,600 |
0 |
30,250 |
+ 50 |
20,700 |
0 |
|
Raigarh |
29,550 |
– 200 |
29,800 |
– 150 |
19,900 |
+ 100 |
|
Bhiwadi |
32,450 |
– 200 |
– |
– |
– |
– |
|
Mumbai* |
31,900 |
– 100 |
32,100 |
– 100 |
– |
– |
|
Goa |
31,400 |
– 100 |
31,600 |
– 100 |
– |
– |
|
Jaipur |
32,500 |
+ 100 |
33,000 |
+ 100 |
– |
— |
|
Ahmedabad |
32,550 |
+ 50 |
33,000 |
– 100 |
– |
– |
|
Hyderabad |
31,800 |
0 |
32,000 |
– 100 |
– |
– |
|
Chennai |
32,200 |
– 300 |
32,700 |
+ 100 |
– |
– |
|
Bangalore |
31,400 |
0 |
– |
– |
– |
– |
Basic Prices in INR/MT; ED at 12.36; VAT as applicable
*Payment next day
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