Power cut in Hyderabad (Andhra Pradesh) once in a week has made the prices dearer and forced manufacturers to increase its offers by INR 500-1,000/MT for Ingot/Billet & Re-bar in 2-3 days. Ingot is offered at around INR 32,300/MT, while Billet is traded at around INR 32,600-32,800/MT. Re-bar (20 mm) is traded at INR 34,500-34,700/MT.
Power cut is likely to continue till Lok Sabha Elections, held in Apr-May, 2014 as electricity provided to industries is being provided to farmers for crops reaping, shared an Ingot manufacturer from Hyderabad.
SteelMint in a discussion with a Re-bar manufacturer assessed that steel prices are anticipated to drop by INR 500-1,000/MT and there is no hope for price increment in near term.
Sluggish demand of Re-bar & Structure in Raipur has kept Ingot/Billet offers unchanged from a week’s time. Currently, Ingot is offered at around INR 30,100/MT and Billet at around INR 30,500/MT.
In Durgapur (WB), gap between Ingot and Billet had increased by INR 300-400MT to INR 700-800/MT (earlier INR 300/MT) owing to good demand of Billet from nearby States and Global market. However, Ingot has been traded at INR 29,900/MT, whereas Billet is offered for export at INR 30,700-30,800/MT (Ex-Durgapur).
Sale of Re-bar & Structures across the Country is dull against January, 2014. As a result, Ingot prices are witnessing slight fluctuation (INR 100-300/MT). Prices are standing at same level from past one week.
[su_quote cite=”A broker based in U.P shared“]Finished Steel demand was decent in March, 2013. However in this year, we are not finding any buyer of the material due to upcoming elections and liquidity crunch in Construction Sectors.[/su_quote]
Domestic MS Ingot & Billet Prices as on 04 Mar, 2014
|
Particular |
MS Ingot |
W-o-W |
MS Billet |
W-o-W |
|
Mandi Gobindgarh |
34,700 |
+ 300 |
34,900 |
+ 200 |
|
Ghaziabad* |
33,400 |
0 |
– |
– |
|
Ludhiana |
34,650 |
+ 250 |
– |
– |
|
Muzaffarnagar |
33,000 |
– 150 |
– |
– |
|
Kanpur |
32,850 |
+ 150 |
– |
– |
|
Rourkela |
29,500 |
+ 50 |
29,800 |
+ 50 |
|
Durgapur |
29,900 |
+ 200 |
30,700 |
+ 300 |
|
Kolkata |
30,200 |
+ 200 |
31,000 |
+ 300 |
|
Raipur* |
30,050 |
+ 150 |
30,500 |
+ 150 |
|
Raigarh |
30,150 |
+ 50 |
30,100 |
0 |
|
Bhilai |
– |
– |
30,400 |
+ 150 |
|
Bhiwadi |
32,950 |
+ 200 |
– |
– |
|
Mumbai* |
32,350 |
+ 150 |
32,500 |
+ 100 |
|
Goa |
31,700 |
– 300 |
31,900 |
– 300 |
|
Jaipur |
32,750 |
+ 250 |
33,250 |
+ 250 |
|
Ahmedabad |
32,850 |
+ 50 |
33,350 |
– 50 |
|
Hyderabad |
32,300 |
+ 900 |
32,700 |
+ 900 |
|
Chennai |
32,000 |
0 |
32,600 |
+ 100 |
|
Bangalore |
31,400 |
– 400 |
– |
– |
|
Jalna |
– |
– |
31,600 |
0 |
All Basic Prices in INR/MT; Excise duty @12.36; VAT as applicable
*Payment next day
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