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Daily Update Sector: Steel Date:21-November-2011

Market Insight
Steel futures trade low on weak global sentiments; corrects over Rs 400/MT Re-bar prices remain unchanged; freight rates move up Sponge iron manufacturers complaint for inferior quality of iron ore in e-auctions Indian scrap importers stay calm on falling rupee; expect prices to fall Iron Ore rake movement suspended in Odisha for exports Spot Iron Ore falls by $4/MT, first drop in 4 weeks;Fe 63.5/63 at $151/MT MMTC seeks 1.365MT imported coal
Steel Price Snapshot as on 21-November-2011

SPOT MARKET (RAIPUR) SPONGE SCRAP (HMS) PIG IRON MS INGOT REBAR/TMT (12MM) WIRE ROD (5.5MM) FUTURES MARKET NCDEX (DECEMBER 2011) INTERNATIONAL MARKET LME BILLET CASH HMS SCRAP 80:20 (CIF EUROPE) IRON ORE FINES (FE 63.5 CNF CHINA)

PRICE ( /MT) CHANGE ( /MT) 22600 0 25500 0 27500 0 30600-700++ 0 33500 0 36400 + 800 PRICE ( /MT) CHANGE ( /MT) 31210 - 280 PRICE ($/MT) CHANGE ($/MT) 510 - 5 395 - 22 151-152 - 6

* /MT; Basic Ex Raipur, excise duty and taxes extra.

Market Review Steel futures trade low on weak global sentiments; corrects over Rs 400/MT
21-Nov-2011 , 17:48

MS Ingot/Billet
MS Ingot/Billet prices as on 21-November-2011

Market for MS Ingot continued to show a downward trend on weak global sentiments. Indian share market also shed over 400 points on Monday. Ingot at Mandi Gobindgarh remained flat at Rs.32,40032,500 MT during the day. Similarly, Gaziabad market also witnessed trade at Rs.32,400/MT. Raipur, where Induction furnaces started operating after 4 days of closure also noticed a downfall in prices. "Markets are not encouraging, high cost and poor demand is shrinking our margins. Liquidity is one of the major concern.", said a steel trader based at Nagpur (Maharastra).

Ingot Price Change ALANG 30900++ 0 CHENNAI 29000++ - 500 DURGAPUR 34000* - 200 GHAZIABAD 32400++ 0 GOA 29000++ 0 HYDERABAD 31000++ 0 INDORE 31800++ 0 JAMSHEDPUR 33800* 0 KOLKATA 31100++ 0 LUDHIANA 30100+ 0 MANDI GOBINDGARH 32400++ - 200 MUMBAI 31500++ + 100 MUZAFFARNAGAR 31800++ - 200 NAGPUR 31500++ 0 RAIGARH 29700++ - 200 RAIPUR 30600-700++ - 200 ROURKELA 30200++ 0 Place

Billet Price Change 31400++ 0 30100++ 0 35500* 0 33600++ 0 29800++ 0 31350++ 0 34700* 0 32050++ 0 33600++ 0 33100++ 0 31500++ 0 32300+ 0 30000++ 0 31100++ 0 -

/MT; Basic price; ED and taxes extra; *Inclusive of all.

NCDEX Steel Long

LME - Steel Billet Prices

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Daily Update Sector: Steel Date:21-November-2011

Market Review Ferrous scrap prices strengthen amid weak demand


19-Nov-2011 , 15:32

Scrap
Scrap prices as on 21-November-2011

Domestic ferrous scrap prices moved up at few mandis' by Rs 100-400/MT. However buying remains weak across country. Some of the reasons are as follows that made domestic scrap expensive: - Rise in Ingot prices - Improved demand for the product HMS scrap traded at same price at Rs 27,500/MT in Mandi Gobindgarh i.e. up by Rs 100/MT from previous trade price. Demand for the local HMS scrap in Alang continue to improve taht made scrap prices to move up by Rs 400/MT.

Place RAIPUR RAIPUR MUMBAI MUMBAI MANDI GOBINDGARH MANDI GOBINDGARH KANDLA JAMSHEDPUR JAMSHEDPUR JALNA HYDERABAD GOA GHAZIABAD DURGAPUR CHENNAI ALANG

Grade/Size HMS(80:20) END CUTTING HMS(80:20) END CUTTING HMS(80:20) END CUTTING HMS(80:20) HMS(80:20) END CUTTING HMS(80:20) HMS(80:20) HMS(80:20) HMS(80:20) HMS(80:20) HMS(80:20) HMS(80:20)

Price 25500 26500 24000 25500 27500* 29400* 24000 28000* 29000* 24400 25700 23800 26500* 28400* 22200 24600

Change 0 0 0 0 + 100 0 0 0 0 0 + 500 0 0 + 400 0 + 400

/MT; Basic price; ED and taxes extra *Including all.

"Demand for local scrap is in hand and mouth situation. Buyers are purchasing scrap only for immediate need. Prices are likely to remain firm in the coming days", said a trader based in Raipur. "Domestic scrap prices are unlikely to correct soon as demand for the product is quite healthy from Ingot manufacturers. Absence of the imported material in the domestic market also helping local scrap prices to remain firm", a mill official based in Mumbai said.

Sponge iron manufacturers complaint for inferior quality of iron ore in e-auctions
21-Nov-2011 , 17:11

The sponge iron industry in Karnataka is facing its worst ever raw material crises thanks to the restriction imposed on outflow of iron ore from the district. While dried up iron ore supply has forced most of sponge iron plants to shut their production, others are running their units at less than half of their capacity and are totally dependent on iron ore auctioned by the government. "Quality available during auction is not up to the mark, more over size varies in every lot.Auction prices are hovering around Rs 3500-3700/MT for Fe 58-60% for a size of 3-40mm iron ore." said Mr Singhal, sponge manufacturer based at Bellary. However, Considering that the delay in the transport of iron ore is affecting production, the Monitoring Committee in Karnataka has agreed to extend the timings for transportation of ore from the present 12 hours to 16 hours. But according to the chief executive officer and director, JSW Steel Limited, "Unless the government allows transportation of the raw material round the clock, it would be difficult to maintain the production levels and we cannot shut down the furnaces".
Sponge Iron
Sponge Iron prices as on 21-November-2011

Pig Iron
Pig Iron prices as on 21-November-2011

Place Grade/Size ROURKELA 76-78 FeM RAIPUR(PELLET SPONGE) 76-78 FeM RAIPUR 78 FeM RAIGARH 78 FeM NAGPUR 78 FeM MANDI GOBINDGARH 79 FeM JHARSUGDA 78 FeM JAMSHEDPUR 78 FeM HYDERABAD 78 FeM GOA 76-78 FeM DURGAPUR 78 FeM BELLARY 76-78 FeM
/MT; Basic price; ED and taxes extra

Price Change 21400 + 100 21800 0 22600 0 22000 0 22000 0 28500* - 200 22000 0 24500* 0 20600 + 100 20500 0 25700* 0 20100-200 + 100

Place VIZAG ROURKELA RAIPUR RAIPUR RAIGARH MANDI GOBINDGARH MANDI GOBINDGARH GOA DURGAPUR DURGAPUR CUTTACK

Grade/Size STEEL GRADE STEEL GRADE STEEL GRADE FOUNDRY GRADE STEEL GRADE STEEL GRADE FOUNDRY GRADE STEEL GRADE STEEL GRADE FOUNDRY GRADE STEEL GRADE

Price Change 25300 0 26500-26600 0 27500 0 29500 0 27800 0 28000 0 31000 0 27000-27500 0 26800 0 29000 0 25800 0

/MT; Basic price, exice duty and taxes extra

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Daily Update Sector: Steel Date:21-November-2011

Market Review Re-bar prices remain unchanged; freight rates move up


21-Nov-2011 , 17:45

TMT
TMT prices as on 21-November-2011

Highlights of the market: Indian long product market seems to show a stable trend with Re-bar prices remaining unchanged at most of the mandis'. Rebar at Raipur was being offered at Rs 33,500 (12MM ex-work basic price) i.e. same as the previous close. However, the freight rates for ten metric tonneload trucks have moved up by Rs 1,000/MT in the local transport market due to lower availability of trucks.

Place AHMEDABAD BANGLORE CHENNAI DURGAPUR GOA HYDERABAD INDORE JALNA JAMSHEDPUR MANDI GOBINDGARH MUMBAI NAGPUR PUNE RAIPUR

Price* 36100 35500 34100 35000 35200 34400 37600 35000 35800 40300 35900 36700 35900 33500

Previous* 36100 35500 34000 35000 35000 34000 37300 35000 35800 40300 36000 36700 35900 33500

Change 0 0 + 100 0 + 200 + 400 + 300 0 0 0 100 0 0 0

* /MT; Basic price; ED and taxes extra

Rates for freight from Delhi to Mysore, Hyderabad and Kochi went up by Rs 1,000 each to Rs 55,000, Rs 38,000 and Rs 58,000.
Angle
Angle prices as on 21-November-2011

Channel
Channel prices as on 21-November-2011

PLACE

200A

150A 36000

130A 35600

110A 35400

100A 35100

40/50/60/75 A 35100

RAIPUR 37300 (SKS)

PLACE 400C 300C 250C 200C 150C 100C 75C RAIPUR 36300 35700 35400 35400 35200 35000 35000 (SKS)
* /MT; Basic price; ED and taxes extra

* /MT; Basic price; ED and taxes extra;

Beam
Beam prices as on 21-November-2011

Wire
Wire prices as on 21-November-2011

PLACE RAIPUR (SKS)

600B 38900

500B 37500

400B 35800

300B 35400

200B 35200

125B 35000 PLACE CHENNAI DURGAPUR RAIPUR VIZAG

HB WIRE(12 GAUGE) --37100 40100

WIRE ROD 5.5MM 34200 34500 35600 38300

* /MT; Basic price; ED and taxes extra

BINDING WIRE(20 GAUGE) 45200 42500 39800 44600

* /MT; Basic price; ED and taxes extra

TMT (Raipur)

TMT (Mumbai)

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Daily Update Sector: Steel Date:21-November-2011

Market Review
Indian Steel firms likely to cut prices by Rs 1000-1500/MT
17-Nov-2011 , 11:35

Indian Steel companies are expected to cut prices in the range of Rs 1,000- Rs 1,500/MT in the near future. The net sales realization of steel companies is anywhere between Rs 35,000 and Rs 35,500/MT for hot rolled coils. For cold rolled coils, the realization is between Rs 40,000 to Rs 41,000/MT. Experts see this cut as a tactic to improve off take of inventory that has been piling up. Steel companies also want to achieve price parity with imported steel after implementing the cut, said the head of research at an Indian brokerage. However, there is fear that delay in project clearances by the centre could hit demand even after the cut. Hence steel manufacturers are utilizing only one third to two thirds of their installed capacity.
HOT ROLLED (HR)
HOT ROLLED (HR) prices as on date: 21-November-2011

COLD ROLLED (CR)


COLD ROLLED (CR) prices as on date: 21-November-2011

Product

HR COIL

Size 2MM 2.5MM 2MM 2.5MM 2MM 2.5MM 2MM 2.5MM 2.5MM 2.5MM 2.5MM 2MM 2.5MM

Place INDORE INDORE CHENNAI CHENNAI MUMBAI MUMBAI AHMEDABAD AHMEDABAD KOLKATA DELHI BANGALORE LUDHIANA LUDHIANA

Plant

Price* 38950 38100 35800 35400 37200 36700 40800 40400 40100 37000 42000 37300 36800

Product

CR COIL

Size 0.60MM 0.60MM 0.60MM 0.60MM 0.60MM 0.60MM 0.60MM 0.60MM 0.60MM 0.60MM

Place CHENNAI MUMBAI AHMEDABAD KOLKATA DELHI BANGALORE LUDHIANA PUNE RUDRAPUR KANPUR

Plant

Price* 45300 42800 43100 44800 41500 43800 44515 44300 48000 45300

* /MT; Basic price; ED and taxes extra

* /MT; Basic price; ED and taxes extra

Market Review Indian silico manganese export prices slip further


17-Nov-2011 , 15:52

Indian silicomanganese 65/16 export market continues the downward trend this week with export prices going down further, according to the sources. Given current global economic environment, it is expected that the export market will remain soft throughout this year. An Indian producer with current output of about 4,000tpm of silicomanganese notes that the rates for silicomanganese 65/16 are at USD1,075/t FOB India this week, a decrease of USD25/t against that of late last month, while they have not concluded any fresh deals for three weeks. We got fewer enquiries than before and we gave our best offers for them, while they bargain for much lower price which left us no profit to achieve, said the source. Under the influence of world economic crisis, the demand from Europe and Japan has decreased and we expect the market will not rebound soon. Therefore, we have reduced our output and only produce according to the orders, added the source. Manganese Ore Ferro Alloy
Manganese prices as on 21-November-2011 Ferro Alloy Prices as on date: 21-November-2011

PLACE

EX-BALAGHAT MADHYA 10500 ---- 7300 6600 -- 4500 3600 PRADESH MOIL9986 ------ 3342 -- 3267 BALAGHAT MOIL--- 10301 -- 8276 --- 3602 3439 MAHARASHTRA RAIPUR 11200 10450 -- 8650 7800 6900 -- 5200 4600
* /MT; Ex-mines basic price; all taxes extra

4446 --

4448 9750

42- 40- 38- 34- 32- 28- 2544 42 40 36 34 30 28 8850 7950 7050 6200 -- 4400 3900

Place DURGAPUR RAIGARH RAIPUR ROURKELA

SiMn(13-60)* 49500 50000 49500 48500

FeMn(20-70)* 51000 51000 49500 49000

* /MT; Ex-mines basic price; all taxes extra

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Daily Update Sector: Steel Date:21-November-2011

Industry News Steel futures trade low on weak global sentiments; corrects over Rs 400/MT
Market for MS Ingot continued to show a downward trend on weak global sentiments. Indian share market also shed over 400 points on Monday.Ingot at ... (Read full story at www.steelmint.com)

Sponge iron manufacturers complaint for inferior quality of iron ore in e-auctions
The sponge iron industry in Karnataka is facing its worst ever raw material crises thanks to the restriction imposed on outflow of iron ore from ... (Read full story at www.steelmint.com)

Japan Oct Steel imports up 28 pct yr/yr


Japanese imports of steel grew 28 percent from a year ago in October as the strong yen widened a price gap between domestic and foreign producers, preliminary ... (Read full story at www.steelmint.com)

Indian scrap importers stay calm on falling rupee; expect prices to fall
The rupee was down by 44 paise at Rs 51.78 per US dollar in early trade today which has made importers to stay away from ... (Read full story at www.steelmint.com)

Rupee weakens by 44 paise to 51.78/dollar


The rupee was down by 44 paise at Rs 51.78 per US dollar in early trade today due to the pull-out of foreign capital from ... (Read full story at www.steelmint.com)

Iron Ore rake movement suspended in Odisha for exports


The movement of wagons, both empties and loaded, has remained suspended in iron ore rich Joda-Barbil area in Odisha since friday following agitation by truck ... (Read full story at www.steelmint.com)

Spot Iron Ore falls by $4/MT, first drop in 4 weeks;Fe 63.5/63 at $151/MT
Spot Iron ore begins the week with a price drop with sluggish steel demand in China likely to curb buying of the raw material. Offer prices for Fe ... (Read full story at www.steelmint.com)

MMTC seeks 1.365MT imported coal


India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365MT of imported ... (Read full story at www.steelmint.com)

CIS billet exports stagnant, price stable at lower level


The CIS billet export market continues to be stagnate, having failed to gain momentum on the back of recent modest strengthening. From the recently achieved levels of ... (Read full story at www.steelmint.com)

Karnataka to extend time limit for Iron ore transportation


The steel, pig iron and sponge iron manufacturers in Karnataka can now heave a sigh of relief and hope for better days ahead as the state government ... (Read full story at www.steelmint.com)

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