India Steel Market Watch
December 28: Domestic scrap offers showed a distinctive firm trend for the fourth consecutive week, led by buying by steel mills, sources informed ISMW.
Domestic prices remained firm as the rupee firmed up a bit to 66.17 against the dollar. The rupee’s value was 67.29 against the dollar in the previous week.
Imported scrap offers remained unchanged at $192 per ton. The shredded variety is procured at $205 per ton.
Scrap prices moved in the range of Rs 17,600 -21,000 per ton.
Scrap currently contributes 18-20% to India's crude steel-making.
In Mandi Govindgarh, scrap rates firmed up by Rs 300 on a weekly basis to settle at Rs 18,900 per ton. In Jaipur, rates moved up by Rs 800 to 20,400 per ton, while in Ludhiana rates moved up by Rs 500 per ton to settle at Rs 21,000 per ton.
Rolling rates firmed up in Alang over the last one week by Rs 200-400 per ton.
Around 3% of total steel consumption in India comes from ship scrap.
The sector is mainly dependent on the real estate and infrastructure industries and prices moved up on expectations that the sectors would perform well in 2016, sources said.
US$ 1=Rs 66.17
Following are scrap and rolling prices in different markets:
Market |
Prices as on 11.28.2015 |
Prices as on 12.07.2015 |
Prices as on 12.12.2015 |
Prices as on 12.19.2015 |
Prices as on 12.26.2015 |
Weekly change from 12.19.2015 |
Monthly Change from 11.28.2015 |
Scrap |
|||||||
Mandi Govindgarh |
16200 |
17000 |
17600 |
18600 |
18900 |
300 |
2700 |
Kolkata |
19500 |
N/A |
N/A |
||||
Alang |
16100 |
16300 |
17000 |
N/A |
N/A |
||
Raipur |
N/A |
N/A |
|||||
Jaipur |
18000 |
18300 |
19000 |
19600 |
20400 |
800 |
2400 |
Ludhiana |
18600 |
19100 |
20500 |
21000 |
500 |
2400 |
|
Muzaffarnagar |
18300 |
18500 |
200 |
N/A |
|||
Mumbai |
16000 |
16000 |
N/A |
N/A |
|||
Patna |
N/A |
N/A |
|||||
Delhi |
N/A |
N/A |
|||||
Gaziabad |
N/A |
N/A |
|||||
Bhilai |
16000 |
16000 |
17200 |
N/A |
N/A |
||
Ahmedabad |
16200 |
N/A |
N/A |
||||
Durgapur |
17600 |
N/A |
N/A |
||||
Jammu |
N/A |
N/A |
|||||
Kanpur |
N/A |
N/A |
|||||
Indore |
19000 |
19300 |
300 |
N/A |
|||
Nagpur |
N/A |
N/A |
|||||
Jalna |
N/A |
N/A |
Source: Traders