Indian semi finish prices are slipping continuously as demand of Long steel product remains sluggish at pan India. Prices of Sponge iron, Ingot/Billet, Pig iron & Rebar have corrected by INR 200-1,000/MT in last 1-week on the background of mismatched sentiment of demand (low) and supply (high).
Stockiest away from Market
An Ingot/Billet supplier based in Maharashtra shared, “Buyers fear because of rise in import from China. Finished steel manufacturers are purchasing material only when they could be able to sell the material (finished steel). They don’t want to take any risk and hence, not maintaining the stock of raw material (Ingot/Billet), which in turn has corrected Ingot/Billet prices by INR 900/MT W-o-W”.
A finished steel manufacturer based in central India mentioned that there is continuous sparse demand from the local market as well as from nearby states owing to election in Maharashtra and overload problem to supply material in M.P. Stockiest are unwilling to stock as highly volatile prices cautious to stockiest as well as traders.
Viability of MS Billet to North India increases
- Durgapur offers Billet to Mandi at INR 30,300/MT; freight to Mandi by road is INR 2,100/MT
- Ramgarh (Jharkhand) based Billet manufacturers are quoting Billet at INR 30,300/MT; freight to Mandi by road is INR 2,300/MT
Delivered prices of MS Billet to Mandi from Durgapur & Ramgarh will be at INR 32,900-33,200/MT (including freight & CST).
Sponge Prices down marginally (low proportionally to Ingot)
Sponge prices, which were stable from a long time in central & eastern India, have declined marginally by INR 200-400/MT. Whereas, MS Ingot/Billet & Rebar prices have slumped by INR 200-1,000/MT in a week’s time.
Currently, in the domestic market, Sponge iron is trading at INR 20,300-21,600/MT, MS Ingot at around INR 28,500-32,500/MT and Rebar (12 mm) is being offered at INR 33,000-36,000/MT ex-works.
MS Ingot offers as on 14 Oct, 2014 (Ex-Plant)
|
Markets |
Price |
Change |
W-o-W |
M-o-M |
|
Mandi Gobindgarh |
33,300 |
– 200 |
– 200 |
+ 50 |
|
Ghaziabad* |
32,600 |
0 |
0 |
+ 100 |
|
Muzaffarnagar* |
32,400 |
– 50 |
0 |
0 |
|
Kanpur* |
32,300 |
0 |
0 |
+ 50 |
|
Rourkela* |
28,600 |
– 100 |
– 400 |
– 200 |
|
Durgapur |
30,000 |
0 |
– 200 |
– 700 |
|
Kolkata |
30,300 |
0 |
– 200 |
– 700 |
|
Raipur* |
29,050 |
– 250 |
– 850 |
– 750 |
|
Raigarh |
29,800 |
– 50 |
– 300 |
0 |
|
Mumbai* |
30,600 |
– 150 |
– 900 |
– 1,400 |
|
Goa |
30,500 |
0 |
– 100 |
0 |
|
Ahmedabad |
30,000 |
– 100 |
– 900 |
– 1,600 |
|
Hyderabad |
30,500 |
0 |
0 |
+ 300 |
|
Chennai |
31,150 |
0 |
0 |
– 150 |
|
Bangalore |
30,500 |
0 |
– 400 |
0 |
Basic prices in INR/MT; all taxes applicable
*Next day payment and rest all regular payment (7-10 days)
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