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1 July 22, 2010
India’s Q1 steel I ndia’s steel production during the first quarter (April-June) of current financial
year (2010-11) rose 7.16 percent to 13.039 million tons (mt) compared with
production up 7.16 12.168 mt produced in the corresponding quarter of previous financial year,
according to a compilation by ISMW.
percent Of the total production during the quarter, 5.619 mt was flat products, while
ISMW 7.420 mt was long products, compared with 5.185 mt flat and 6.983 mt long
products.
Following is the break-up of steel production in India (in 000 tons):
Flat Long
Name of Company
Fy10 (Q1) Fy11 (Q1) Fy10 (Q1) Fy11 (Q1)
Tata Steel 887 901 538 622
SAIL 1666 1465 876 918
Essar 880 768 – –
Ispat 497 706 183 306
JSW 835 1059 – –
JSPL – – 109 141
RINL – – 686 681
Others 420 720 4591 4752
Total 5185 5619 6983 7420
Growth – 8.40% – 6.30%
Global crude steel G lobal crude steel production rose by nearly 28 percent in the first six
months of 2010, but it continued to slow down in June on a monthly basis
production rise 28 as mills worldwide scaled back production.
Crude steel output in January to June reached 705.8 million tons this year,
percent in H1 2010 from a recession-hit 551.9 million tons in the same period of 2009, figures from
ISMW the World Steel Association showed. Production in the first half of this year was
even 7.2 percent higher compared with the same period of 2007, when crude
steel production hit an all-time high for the whole year of 1.346 billion tons on
the back of booming demand from China.
However, on a month-on-month basis global output growth has slowed
down, said the association, whose members represent 85 percent of the
world’s steel sector. Crude steel production per day was at 3.958 million tons
in June, down from a peak of 4.018 million tons in May.
Analysts expect production to further lose pace in the coming months as the
summer slowdown and shaky economic outlook weighs on demand.
Since the second half of last year, the $500 billion steel industry has slowly
begun to come back to life after one of the worst downturns in its history.
Producers raised output and managed to bring back some of the idled
production capacity.
However, analysts felt the rebound was more due to restocking and pressure
from the rising cost of raw materials rather than real demand.
PRODUCTS (Price trend)
Mounting debt worries in the euro zone and poor economic data from the
United States as well as signs of a slowdown in China’s metals appetite have
caused raw material prices and steel demand to begin to ease in the second
half. In China, the world’s top producer and consumer of the metal, output rose
by 21.1 percent year-on-year in the same period to 323.2 million tons. But daily
output fell to 1,792 million tons in June from 1.811 million tons in May.
Contd. on next Pg
China produced almost half the world’s steel last year but its thousands of
mills face headwinds from slowing property and auto markets at home.
Adding to the woes was the loss of favorable export rebates and the
prospect of a higher quarterly price for iron ore. In June alone, steel production
worldwide was up by 18 percent year-on-year at 118.8 million tons.
India’s steel imports I ndia’s steel imports during the first quarter (April-June) of current financial
year (2010-11) rose 80.3 percent to 2.47 million tons (mt) compared with 1.37
rise 80.3 percent in Q1 mt imported in the same quarter of previous financial year.
According to a compilation by ISMW, of the total imports during the quarter,
ISMW
flat products was 2.182 mt, while long product imports stood at 0.288 mt.
The import of flat products rose 81.3 from 1.203 mt in the corresponding
quarter of previous year, while that of long products rose 72.9 percent from
0.167 mt last year.
The top five countries from where import of flat products took place in the
current year were China, Korea, Russia, Japan, Saudi Arabia.
China accounted for almost 0.822 mt (50%) of total import of Galvanised,
Cold Rolled and Hot Rolled products during the quarter, while Korea accounted
for 12 percent or 0.194 mt, Russia around 0.182 mt or 11%, Japan 0.152 mt
or 9% and Saudi Arabai exported 62000 tons of Galv, CR and HR produdcts,
which was 4% of the total import of these materials.
In the long product segment (Bars & Rods, Structurals), the materials arrived
from Ukraine (31%), China (24%), Russia (14%), Korea (6%) and UAE (3%).
(See details on Pg 7 & 74-181)
India’s Q1 steel I ndia’s steel exports during the first quarter (April-June) of current financial
year (2010-11) fell 20.58 percent on higher domestic demand and a weak
exports fall 20.58% international demand, according to a compilation by ISMW.
The export stood at 0.563 mt in the first quarter of current financial year,
ISMW
compared with 0.716 mt last year.
Of the total exports during the current quarter, 0.512 mt (last year 0.670 mt)
was flat products, while 51000 tons (46000 tons last year) was long products,
according to the compilation. The top five countries where Indian flat products
(Galvanised, CR, HR) were exported during the quarter were USA (11%), UAE
(10%), Djibouti (6%), Italy (5%) Brazil (5%).
The top five importers of long products (Bards & Rods and Structurals) were
Nepal (21%), Sri Lanka (14%), UAE (8%), Maldives (7%) and Thailand (3%).
(See details on Pg 7)
India Q1 apparent India’s apparent steel use in the April-June period has risen 16.61 percent to
14.95 million tons, up from 12.82 million tons in the same period a year ago,
steel use up 16.56
PRODUCTS (Price trend)
Indian steel makers H igher import in May is putting pressure on domestic steel makers and in
case this scenario continues, unsold inventory might double for some
apprehend high steel makers from existing levels. A domestic steel maker in fact apprehended
that his inventory might touch 1 million ton by August end from 0.5 million tons
inventory at present if imports happens in such levels.
ISMW According to his estimates, imports of mild steel products to India reached
around 8 million tons in May 2010 from 5 to 6 million tons in the month before.
India steel demand I ndian steel demand is likely to pick up once again from July-end or early
August on renewed enquiries from consuming sectors, industry and trade
likely to pick up from sources said on June 16. “There is no further scope for cut in steel prices
considering higher input cost, primarily of coking coal and iron ore and a revival
July-end is inevitable,” said Bhavin Chheda of Enam Holdings Pvt. Ltd.
ISMW Coking coal prices went up by almost 55 percent in the first quarter of 2010-
11 to $200 a ton compared with $129 a ton level in 2009-10 and has gone up
further by 10 percent to $225 a ton for the second quarter beginning July 2010.
Almost similar was the price movement of iron ore.
“There is already a pressure on domestic steel prices as international prices
are falling, including in China and Europe. In last 2-3 months, crude steel
production peaked as a majority of plants were operating at 2008 levels. Re-
stocking demand has gone down in Europe and the US,” Chheda said.
Lack of domestic demand for the metal was because of higher prices and a
slowdown in construction and infrastructure activities due to lack of availability
of water in some parts of India, Chheda added. He, however, felt that with the
end of water crisis following estimated normal monsoon, construction activity
would pick up resulting in a recovery in prices.
Paresh Jain of Angel Broking said a slowdown in demand has forced major
players in the steel industry to reduce prices by around $80-100/ ton in the
last few months. “Higher production in European countries as against demand
has forced producers to look at other markets like India,” Jain said. Higher
imports of steel products to India at cheaper prices are also putting pressure
on domestic steel prices at this point of time, he added.
Echoing the sentiment, Director of Adhunik Metaliks Ltd, Nirmal Kumar
Agarwal said the current sentiment in the steel industry is weak because of
PRODUCTS (Price trend)
European crisis. “But this is a temporary phase and from August, steel prices
are expected to improve significantly on revival of domestic demand and
improvement in European situation,” he said.
Prices of long products, mainly consumed by infrastructure and construction
firms in the domestic market, ranged between Rs 24,000 and Rs 25,000 a ton
as on June 15, while prices of flat products, used primarily in the automobile
sector and white goods sector, stood at Rs 32,000-34,000 a ton.
India’s crude steel India’s crude steel capacity utilization in 2009-10 rose marginally to 89 percent
from 88 percent recorded in 2008-09, according to provisional data released
capacity utilization by Ministry of Steel.
Following is the detail of plantwise capacity utilization in last three years:
rise marginally in Crude Steel capacity utilization (%)
2009-10 Plant/Group 2007-08 2008-09 2009-10
SAIL Plants
ISMW
a) Bhilai Steel Plant 129 132 129
b) Durgapur Steel Plant 106 105 108
c) Rourkela Steel Plant 110 110 111
d) Bokaro Steel Plant 95 82 82
e) IISCO Steel Plant 92 83 79
f) Alloy Steel Plant 67 72 87
g) Vis. Iron & Steel 134 81 87
Total SAIL 109 104 105
RINL (VSP) 108 102 110
Tata Steel 100 113 97
JSW Steel 75 77 78
PRODUCTS (Price trend)
Ispat Industries 79 61 73
Essar Steel 77 73 75
Jjindal Steel & Power 51 61 81
Other EAF/MBF/EOF 77 95 85
Induction Furnace Units 81 81 97
Total 90 88 89
NOTE :
1. All prices are in Rs./Ton and has been compiled on the basis of average of Main & Secondary producers price.
MARKETS
NOTE :
1. All prices are in Rs./Ton and has been compiled on the basis of average of Main & Secondary producers price.
MARKETS
Steel prices should S teel prices have fallen in the past few months due to global de-stocking but
will stabilise in the long run, JSW Steel’s managing director Sajjan Jindal
stabilise in long term: said at its annual general meeting.
“Steel prices have fallen in the past few months due to global de-stocking.
JSW However, the prices should stabilise in the long term,” Jindal told
ISMW shareholders at the meeting in Mumbai. “Steel use in the country is increasing
but the actual demand for steel is still the same,” he said.
Describing the increase in cheap steel imports as “disturbing”, Jindal said
that this, along with higher iron ore exports, will put the local steel industry at
a disadvantage.
“We will try to impress upon the government to take steps and implement
policies which will arrest this trend,” he said.
The company plans to spend Rs 75,000 crore to expand its capacity to 32
million tons by 2020 through brownfield and greenfield expansions.
RINL raises 40 mm V izag Steel Plant (RINL) has raised rates of 40 mm round products by 6
percent in June but prices of 20.64 mm, 7 mm and 8 mm products were
round rates by 6%, decreased by 8 percent, 2 percent and 1 percent respectively. The 40 mm
rounds are generally required for making foundation bolt which is having a
drops others steady demand, an industry expert said.
ISMW “This is the reason its rate is increased to ensure margin,” he said. RINL has
reduced rates of rebar, channels and billets of specific size along with rounds,
a company release said.
Rs per ton
SAIL cuts TMT prices S teel Authority of India Ltd (SAIL) on June 4 cut prices of TMT Bars on an
average of six percent compared with prices in May. Following are the new
by 6 % rates for various sizes of TMT Bars:
ISMW
SAIL TMT price Rs / ton (excl ed)
ex-Plant (Fe 500) in Kolkata January-10 April-10 May-10 Jun-10 Jul-10
8 mm and 32 mm 32797 36818 36908 34640 33767
10 mm 32336 36365 36472 34204 33331
12 - 16 mm/ 20 - 25mm 31874 35911 36036 33767 32807
Tata Steel cuts TMT T ata Tiscon rates have been reduced by around 6 percent in June compared
to their last months rates. Current rates as on June 4 are nearly equal to the
rates by 6% March rates.
ISMW Recommended Consumer Price (RCP) in Rupees per piece wef 3rd June’10 for FE 500D & SD
States 6 mm 8 mm 10 mm 12 mm 16 mm 20 mm 25 mm
West Bengal 121 201 306 440 783 1224 1908
Recommended Consumer Price (RCP) in Rupees per piece wef 4th May’10 for FE 500D
States 6 mm 8 mm 10 mm 12 mm 16 mm 20 mm 25 mm
West Bengal 128 214 326 469 835 1306 2035
Consumer Price (RCP) in Rupees per piece wef 02nd April’10 for FE 500D
States 6 mm 8 mm 10 mm 12 mm 16 mm 20 mm 25 mm
West Bengal 133 223 341 491 873 1365 2128
Consumer Price (RCP) in Rupees per piece wef 01 March’10 for FE 500D
States 6 mm 8 mm 10 mm 12 mm 16 mm 20 mm 25 mm
121 202 308 443 788 1232 1920
West Bengal 0% 0% 1% 1% 1% 1% 1%
5% 6% 6% 6% 6% 6% 6%
Notes: 1. The above prices are on cash basis and are inclusive of all taxes, 2. Each piece is of a 12-metre length, 3. All
dimensions are subject to BIS tolerance
Sponge iron prices S ponge iron (85-90 percent metallization) prices have increased by Rs
500/ton to Rs 16,000/ton basic in July on some improvement in demand,
rise Rs 500/ton in July market sources said on July 30.
Demand for sponge iron has not improved much and traders were purchasing
ISMW
very cautiously as per their need, the sources said. Pan-India prices rose
between Rs 500-1000/ton during the period on some amount of spot buying.
Sponge iron plants in West Bengal were running at half of the capacity
because of power problem, low demand and unavailability of raw material.
MARKETS
MMTC fixes pig iron M MTC Limited has fixed pig iron prices for sale by rake in domestic market
at Rs 20,400 per ton. Price fixed for retail sale in domestic market is Rs
price at Rs 20,400/ton 20,700 per ton, a company statement said on June 5. The above price is fixed
on ex-plant basis and is exclusive of excise duty, sales tax, freight and other
ISMW
statutory duties, the statement said.
Under the retail sale, the maximum size of order booking per transaction per
buyer will be 500 tons, it added.
MMTC floats tender for M MTC Limited on June 25 issued a global tender for export of basic grade
pig iron in two lots of about 30,000 tons each.
export of pig iron The tender, to be closed on June 29, seeks offers for shipment in July of
basic grade pig iron (grade N-1) with pigs up to 20 kgs in weight and chips
ISMW
below 25 mm not exceeding 5 percent. Bidders may quote for one or both lots
separately indicating specific lot, quantity and unit price.
MMTC Cancels Pig M MTC Ltd, India’s leading commodity trader, cancelled its pig iron sales
tender for 30,000 tons by June 2 because the tender ended in a single
Iron Sales Tender bid at US$ 404 per ton FOB, a price that fell short of what MMTC had desired,
industry sources said on June 4. The sales tender took place on June 1, in
ISMW
which the only bid of US$ 404 per ton FOB was made by MMTC Transnational
Pte Ltd, MMTC’s subsidiary in Singapore. The FOB bid in point translates into
a price level of US$ 450 per ton C&F for delivery in East Asia.
An abortive MMTC tender this time may have ensured from what metal
traders describe as a hostile environment for pig iron sales in East Asia, market
observers said. Various traders admit that it is impossible to sell pig iron at a
MARKETS
price level of US$ 450 per ton C&F for delivery in East Asia where a strong wait-
and-see sentiment is predominant among buyers.
markets
ISMW
Bokaro
I ngot prices moved in the range of Rs 22,000 per ton to Rs 24,000 per ton,
while prime grade HRC was traded in the range of Rs 34,000 per ton to Rs
36,000 per ton, during the month of July in Bokaro region, they said.
“The market is volatile, but the prices are range-bound on the back of weak
demand and there was downward pressure on prices because of this. The
local producers and traders are at present struggling with huge stock and are
unable to sell as the buying activity in the market is almost nil,” a local producer
said on July 28.
The sentiments are also weak because of monsoon, which is generally a
dull period for the industry, primarily in the long segments, said another local
producer, adding, the buyers prefer highly discounted materials both in flat and
long segments from outside the region.
“The buyers are unwilling to buy from us as they are getting much cheaper
materials produced by the some of the private players situated outside the
region,” explained a local steel producer.
Meanwhile, a section of traders felt that the weakness has been seen in the
market for more than two months now and prices have bottomed out.
“The production cost is much higher than the prices at which we are selling
and this is severely hampering our margins. Some of the secondary producers
have cut their production. Even wage payment is difficult at the current
situation,” added another local producer.
Amidst this gloominess, the market is expecting the prices to fall further. Any
recovery both in demand as well as prices is unlikely before September 2010
end or October 2010 beginning, a trader said.
Raipur
I ngot prices moved in the range of Rs 24,100 per ton to Rs 24,700 per ton,
during the month of July in Raipur region, local traders and producers said.
Signs of improvement in prices were seen towards middle of the month as
there was improvement in the range of Rs 400 to Rs 500, but this could not be
sustained and the rise was curtailed back on the back of poor demand, said a
trader. “Monsoon is traditionally a period of weak demand, owing to sluggish
construction activities, and as such demand for TMT is almost nil,” said another
trader. “Monsoons have resulted into absolute halt in any kind of construction
activities but the small fabricators are still generating some demand for the light
structural segment as smaller fabrication works are taking place,” said a local
trader to ISMW on July 28, 2010.
“The scenario is unlikely to improve in the short term. However, if government
announces any new project, there some improvement could be seen,” he
said, adding, the buyers, in anticipation of further price fall, continued to defer
purchases, keeping the buying activities low.
Moreover, the overcapacity in the market is further dampening the
MARKETS
sentiments. Therefore, to cope with this quite market, many small producers
have cut their production. Contd. on next Pg
“The local producers, primarily in the secondary segment, have cut their
production to almost 50 percent of their total capacity due to poor demand,”
said another local producer to ISMW.
Meanwhile, the inventory level in the market is still high. Some of the
producers and traders who are struggling with high inventory level are trying to
push material in the market which is further dampening the market sentiments.
“The inventory level at the mills particularly of TMT is seeing a surge, while,
some movement is seen in the structural segment. The mills which had cut
production during past few weeks are continuing with it as the demand scenario
has not improved as of now. However, some feel that these production cuts
resulted into the improvement in prices,” said a trader.
The market is expected to improve only after the monsoons once the
construction activities pick up pace. The traders are optimistic that September,
October and November would be good months for the industry. Till then, prices
are expected to remain range bound.
Rourkela
T he local steel market in Rourkela witnessed a downtrend in July over the last
one month as low demand conditions put pressure on prices and traders’
margins, market sources said.
“Both the flat and long products have seen a drop in prices and are not
likely to see any improvement in the coming weeks,” the sources said.
According to information available with ISMW, prices of CR coils (0.63 mm)
have dropped from over Rs 40,000 per ton to Rs 38,000 per ton. For plates,
prices have decreased by around Rs 500-1,000 per ton. On other products, the
average decline has been around Rs 300-400 per ton.
As of end July, HR coils (6 mm) were being quoted at around Rs 35,000 per
ton, while the selling price of CR coils was around Rs 38,000 per ton. Plates
(12-20 mm) were selling at Rs 39,500 per ton.
Among long products, ingot prices were hovering around Rs 24,000 per ton
while TMT bars (8 mm) were being sold at Rs 39,500 per ton.
The low demand conditions, traders said, are likely to prevail upon all
through the next couple of months. “We don’t expect to see any improvement
in the market until October,” the sources said. Besides overall low demand
in the steel market, cheaper import from China was affecting local traders.
Chinese imports include HR sheets, plates, galvanized sheets and others. High
freight costs required for transport of products through land routes was another
factor leading steel users on west and east coasts to opt for imports.
Kanpur
A downward trend prevailed in the Northern Indian steel trading hub of Kanpur
between mid-June and mid-July on destocking activities coupled with arrival
of low cost steel from China, but cold rolled prices remained slightly firm.
Cold rolled coils of 0.63 mm specification rose marginally by Rs 500/ton
during the period to Rs 42,500/ton in July.
MARKETS
However, hot rolled sheets, which showed some signs of firmness in between
Contd. on next Pg
Ghaziabad
H ot rolled coil prices were seen rebounding in the steel trading hub of
Ghaziabad (Uttar Pradesh) after falling for the last one month, traders told
ISMW on July 23.
However, although the prices have recovered but whether the recovery
is sustainable remains to be seen, traders said. Hot rolled coils of 5-6 mm
specification and width of 1,250 mm is being offered at Rs 35,000/ton excluding
VAT and freight on road in case of delivery in other states.
Hot rolled coils of 5-6 mm specification and width of 1500 mm is being
offered at Rs 35,500/ton excluding VAT and freight on road in case of delivery
in other states. Traders quoted prices as low as Rs 32,000/ton excluding VAT
a week earlier. Phase out of the earlier stocked inventory and speculation of
rebound in demand has led to the firmness in prices, market sources said.
Cold rolled coil sheets were trading at Rs 39,000/ton excluding VAT.
Galvanized Plate sheet prices of 0.63 mm specification were trading at Rs
40,000 excluding VAT.
Delhi
F lat product prices remained weak in the Delhi market since late June as
low demand and onset of monsoon dampened sales leading to across-the-
board fall in finished product prices.
“Over the last one month, prices of flat products have, on an average, eased
by Rs 1,000 per ton. Prices are expected to remain weak for some time, before
they bottom-out next week or early August,” traders said.
The (basic) price of HRC (2-6 mm) eased from around Rs 35,500 per ton to
Rs 34,000 per ton while that of CRC (0.63 mm) was down from Rs 42,500 per
ton to Rs 41,000 per ton. CRC (10-16 mm) prices slid from Rs 39,800 per ton in
late June to around Rs 38,000 per ton in the first week of July.
Among the long products, local ingots dropped from around Rs 30,000 per
ton to Rs 27,300 per ton. Scrap prices, however, remained stable and moved
MARKETS
in the range of Rs 21,000-22,000 per ton. “There hasn’t been any significant
Contd. on next Pg
Punjab
L ong product prices in the steel trading hub of Mandi Govindgarh (Punjab)
have stabilized a bit in the last few trading sessions after easing Rs 500-700/
ton in the last one month owing to torrential rain slowing down construction
activity, traders told ISMW on July 26.
Mild Steel ingot prices eased marginally by Rs 250/ton in the past seven
days as monsoons slowed down construction activity in the northern region.
Prices of mild steel ingot ruled at Rs 27,350/ton on July 24, down from Rs
27,600/ton a week earlier, market sources said. However, thermo mechanically
treated (TMT) re-bars of 12 mm size firmed by Rs 100/ton to Rs 29,500/ton.
“Prices have somewhat stabilized after fall for the last one month,” traders said.
Notably, rates of steel ingots, which are a key input for rolling mills, have
remained stable at Rs 28,000/ton for the last two months in the state on account
of depressed demand. Due to the dearth of demand, steel-makers have been
operating their units at 50 per cent capacity, sources said.
Punjab --- a major producer of steel -- has almost 200 induction furnaces
and 400 rolling mills spread across Mandi Gobindgarh, Ludhiana and Khanna.
The steel products manufactured in Punjab are mainly used by the bicycle,
auto parts, hand tools, fasteners and construction industry.
Units in the state produce a wide range of steel products, including TMT, MS
bar, MS round, angles and channels.
Kolkata
S teel raw material prices showed a declining trend in the Kolkata trading hub
over the last one month on weak demand from steel makers, who in turn
were facing depressed market owing lesser construction activity in the monsoon
season. Foundry grade pig iron (basic) was trading around Rs 22,500/ton, down
from Rs 25,000/ton in the middle of June, trade sources said on July 27.
Steel grade pig iron (basic) was trading at Rs 21,000/ton, down by about
Rs 500/ton from Rs 21,500/ton in the middle of June. Sponge iron prices fell
by Rs 200-500/ton in the last one month to Rs 14,000/ton. High grade sponge
iron prices fell by almost Rs 1,000/ton in the last one month to Rs 17,000/ton.
Prices have been falling since June triggered by destocking as industry has
been struggling with rising steel imports at lower prices especially from China.
Meanwhile, many small sponge iron manufacturing units in eastern India
have been curtailing production as their sales prices have fallen below the cost
MARKETS
of production. As per industry sources the medium sized and bigger sponge
iron units are running with less than half of their capacity.
Chrome alloy
High carbon ferro chrome prices continued its downward movement due to less
demand from the domestic stainless steel makers and lesser export demands.
Domestic price slid from Rs 60 – 62 per kg ex-works in June to Rs 54 – 57
per kg in July end. Looking at the downward trend of the domestic market
prices, the main chrome ore supplier in India OMC, had revised July-September
chrome ore prices to what was prevailing in January-March 2010 quarter.
Grade Basis Price (Rs / WMT)
Excl Royalty
Incl Royalty Excl Royalty Incl Royalty
(Cr2O3) (Cr2O3)
Oct - Dec09 Jan - Mar 10 Apr -Jun10 July - Sep 10
RAW MATERIALS (Ferro Alloys)
looking at the existing tariff structure and trying to find some ways of tackling
it, he added.
Earlier, mjunction services ltd MD and CEO Viresh Oberoi said the ferro
alloys industry will play a key role in the development of the country, which
wants to increase its steel production capacity to 124 mtpa by 2012.
There is also a growing need for cooperation between the government, the
steel industry and the ferro alloys industry, Oberoi said.
Steel Ministry against T hough domestic steel makers are demanding increased import duty on
noble ferro alloy, the Ministry of Steel may not implement the proposal.
raising import duty Producers of noble ferro alloys, especially ferro vanadium, are currently
demanding higher import duty to save the industry from cheaper imports from
on noble ferro alloy China. Raising the duty of noble ferro alloy would hurt the domestic producers
of special steel and special tool whose input cost would rise as a result, said N.R.
ISMW
Dash, director, Ministry of Steel, government of India, at the Indian Ferro Alloys
Conference on June 18 organised by mjunction services limited. “Currently,
this industry is competitive getting the noble ferro alloys at reasonable rates
from China,” he said.
Higher cost of domestic ferro vanadium is due to the existing inverted duty
structure according to a local producer of the alloy. With this, ferro vanadium
can be imported at 5 percent customs duty where as its raw material vanadium
RAW MATERIALS (Ferro Alloys)
Ferro alloy demand F erro manganese and silico manganese prices remained at low levels in the
domestic market due to weak European market, traders said on June 11.
low due to weakness Europe is an important consumer of Indian ferro alloys and European crisis
had brought down demand of India alloy, an exporter said. Domestic price
in Europe of high carbon ferro manganese has remained at Rs 60 per kg ex-works and
ISMW silico-manganese at Rs 56 per kg, for the last two weeks, he added. “Price is
likely to remain firm till July-end and would rise from August with improved
demand of steel,” he added. This is because the month of August would mark
the end of the monsoon season, thereby giving rise to construction activities.
Manganese ore I mports of manganese ore turned costly in May compared to previous month
by at least $1 per dry metric ton (DMTU) for Indian producers, port data
imports turn costly revealed. They were also able to secure lower grades what they could procure
in April.
ISMW
A manganese alloy producer, Sarda Energy, incidentally imported from
Australia through Vizag port 10,000 tons of manganese ore of 44.6 percent
grade at $7.5 -7.85 DMTU in May, port officials said. In April, the producer
imported nearly the same quantity of ore from South Africa of 46.5 percent
grade at $6.5 DMTU.
Another producer, Sri Girija Smelters, imported from South Africa through
Vizag port 47.10 percent grade at $7.7 DMTU in May. The company imported
in April 47.3 percent grade from South Africa at $5.99 per DMTU, according to
RAW MATERIALS (Ferro Alloys)
Manganese ore A round 21,394 tons of manganese ore was imported from South Africa via
Paradip port in May this year, according to information available with ISMW.
imports via Paradip Surya Alloy Industries Ltd imported around 10,696 tons of manganese ore,
while Modern India Con-cast Ltd imported 5,348 tons and Cosmic Ferro Alloys
ISMW
Ltd imported 5,350 tons from Paradip port.
China may cut silico- C hina may give a discount on silico-manganese prices to compete with India
despite higher cost of production because of increase in cost of electricity
manganese prices and manganese ore, trading sources said on June 16.
Indian silico-manganese of grade 65 X 16 is being offered at $1450 to $1,470
ISMW
per ton CIF Japan. To compete with Indian products, Chinese producers have
to bring down CIF prices by at least $100 per ton, traders said. This might be a
possibility with emerging interest of the Chinese vendors to recover lost ground
in Japan, market observers said.
Cheaper ferro C urrent domestic high carbon ferro manganese may be available at Rs
60 per kg basic to steel plants, but imports of the same product through
manganese from Chennai port are available currently at an assessable value of Rs 45 to Rs 47
per kg basic, port data revealed.
South Africa Around 1000 tons of high carbon ferro manganese from South Africa has
ISMW entered through the Chennai port in April 2010 according to the data.
Medium carbon ferro manganese having manganese content of 80 percent
is also entering India from Norway at an assessable rate of Rs 93 to Rs 95 per
kg which is very low according to domestic manufacturers.
“These imported medium carbon products are having much low silicon
and they cannot be manufactured in India,” a manufacturer said. They are
used for inputs in welding electrode industry and not by steel plants. Medium
carbon ferro manganese used by steel plant has manganese content of 70
percent and this is available in domestic market at Rs 86 per kg ex-works, he
RAW MATERIALS (Ferro Alloys)
added.
Ferro niobium import I mport price of ferro niobium through Mumbai port fell by 2 percent in April
2010 compared to previous month despatches, port data revealed.
price falls 2% in April Around 26,500 tons of ferro niobium was imported from Brazil at Rs 1746
per kg in April end through Mumbai port. In March, around 40,000 tons was
ISMW
imported from Brazil at Rs 1774 per kg according to port data.
HZL cuts zinc prices I ndia’s leading integrated zinc and lead producer, Hindustan Zinc Ltd (HZL),
revised zinc prices on a number of occasion during the month of June in order
by Rs 6800/ton in to align it with international prices and it was ultimately down by an overall Rs
6800 per ton or 6.43 percent. The company first cut prices on June 3 by Rs
June 3900 per ton, but then raised slightly on June 14 before resorting to cut it again
ISMW on June 17 by Rs 2800. It, however cut prices again on June 24 by Rs 1100 per
ton, but raised by Rs 1000 per ton June 26.
After all these revision, the price of HG Zinc ex-Chanderia stood at Rs 99,000 per
ton on June 26 compared with Rs 105,800 per ton as on May 27. The price was
exclusive of excise duty, sales tax/VAT or any other statutory levies. The price ex-
Kolkata stood at Rs 102,000 per ton compared with Rs 108,800 per ton on May 27.
Nickel prices up on N ickel price rose sharply in July on London Metal Exchange backed by
higher demand for the base metal, technical buying and a sharp decline
higher demand, falling in inventory levels, trade and industry sources said. The upward trend was
consolidated by strong earning results out of the US and better-than-expected
inventory euro-zone economic data, they said.
ISMW The fall in inventories of nickel on the LME to 116,814 tons on July 23
compared with 126,312 tons as on June 25 also led to improve in prices, which
rose to $20,380 per ton as on July 23 compared with $19,500 a ton on June 25.
On the supply front, the world refined nickel market stood at a deficit of 5,000
RAW MATERIALS (Zinc, Nickel)
tons in the first five months of the year, as per the World Bureau of Metal Statistics.
This compares to a surplus of 48,600 tons during the year-earlier period.
The world refined nickel demand was 90,000 tons higher in the January to
May period as compared to the same period in the previous year. During this
period, nickel mine production declined 5.7% in the year to 546,000 tons.
The technical cues are quite positive for the metal and considering its
movement in recent times, nickel clearly has the capacity to shoot up suddenly.
However, the entire trend will be dictated by macro economic development,
which if its turns sour, may trigger sharp profit booking.
Expectations
Prices of iron ore were expected to see some more recovery with small
amount of buying by Chinese steel mills.
But traders and manufacturers were expected to maintain caution as
they were not confident whether demand from the steel mills could be
sustained.
RAW MATERIALS (Iron Ore)
The onset of monsoon typically results in restricted demand for steel from
the construction sector.
This in turn restricts demand for the steel making raw material.
But some amount of rebound in steel demand is expected towards
the middle of August, raising hopes of a rebound in the ore prices going
forward.
Quarterly iron ore T he iron ore market stands at an interesting juncture where buyers may try
and shy away from quarterly contracts, as based on Brazilian iron ore miner
contracts at a crucial Vale’s pricing formula, prices for the June-September quarter is likely to be 25%
higher. As per Vale’s pricing formula, the prices for the June-September quarter
juncture would get calculated based on the average spot prices during the March-May
ISMW quarter.
However, As per ISMW Research data the average price for iron ore fines
characterized by 63.5% Fe content for the period March-May stands at $166.43
per ton cfr, whereas the spot prices for the same is currently at $150 per ton cfr.
That is why unless further negotiations happen, the acceptance level of buyers
regarding the quarterly contracts may be low.
According to media reports the average reference price for 62% grade fines
for March-May quarter is $157.53 dry metric ton, cfr China. This would mean a
$31 per dry metric ton hike in prices for the June-September quarter.
OTC iron ore contracts C ME Group, the US-headquartered derivatives marketplace, has announced
it will launch a cleared over-the-counter (OTC) iron ore swap contract using
soon The Steel Index (TSI) iron ore reference price for settlement. The launch date was
scheduled for July 11, 2010. The contract lot size is 500 tons and will be cash-
ISMW
settled using the average of TSI’s 62% Fe iron ore reference prices published in
the expiring month. CME Group will initially offer clearing through its ClearPort®
platform for monthly swap contracts from August 2010 forward for 24 months.
“We are delighted to provide CME Group with the index for its settlement
of cleared iron ore swaps. Its selection of TSI’s iron ore reference price
confirms our index as the industry standard,” said Steven Randall, managing
director of TSI. “The growth potential in iron ore swap trading is enormous. In
2009 shipments of iron ore exceeded 900 million tons and there has been a
transformation over recent months in the pricing mechanisms used throughout
the physical market. These changes all support the continuing rapid growth in
the trading of OTC iron ore contracts to manage price risk.”
“The ferrous industry is the second largest commodity market by volume
RAW MATERIALS (Iron Ore)
after crude oil,” said Joe Raia, CME Group managing director of Energy and
Metals Products and Services. “CME Group will be at the forefront of establishing
a transparent and dynamic benchmark to more accurately and flexibly meet
the risk management needs of the market. This contract complements 12 dry
freight futures that we launched earlier this month, and furthers our goal of
building a complete marketplace for seaborne dry freight products, providing
risk management tools across the full ferrous production cycle. We look forward
to announcing additional products to this suite.”
NMDC to decide I ron ore miner National Mineral Development Corporation (NMDC) will decide
on pricing mechanism for long-term contracts with domestic steel mills soon,
pricing mechanism industry sources said on June 10.
NMDC has been trying to devise a new pricing mechanism since January
ISMW
and issued provisional prices effective April 1. The prices – 34-56% higher
than fiscal 2009 levels – will remain effective until the new mechanism is
implemented. The company signed quarterly contracts with its Japanese and
South Korean customers in May at prices 93-100% higher than contract prices
for the 2009-2010. On an average, NMDC’s international customers now have
RAW MATERIALS (Iron Ore)
to pay $122 per ton fob for iron ore fines and $139 per ton fob for lumps, higher
than last year’s annual contract prices of $62 per ton fob and $65 per ton fob
for fines and lumps, respectively.
Whether these new international prices will be reflected in NMDC’s planned
pricing mechanism for its domestic customers is yet to be seen.
The new mechanism could include various options such as an index-based
system, continuing with the current formula, reviewing prices on a quarterly
basis or having a mix of spot and long-term agreements.
The company is looking at one iron ore mining asset in Africa and two mines
in Australia. It is also jointly studying with global steel giant AreceloMittal the
prospect of the iron ore mine in Senegal (Africa).
The company is also working with Tata Steel in separate projects for global
asset development and securing the steel making raw material.
NMDC, which has a stake in International Coal Ventures Ltd, the special
Contd. on next Pg
Baosteel not to buy B aosteel, China’s leading steel company, does not plan to purchase any ore
from the spot market in Q3 even though iron ore spot prices are lower than
spot iron ore in third the contract prices in the third quarter of 2010, according to market sources.
Local media, Xu Lejiang quoted Baoshan Iron & Steel Group (Baosteel)
quarter chairman on June 8 that iron ore’s contract prices might be higher than spot
ISMW prices in Q3, but Baosteel will not purchase from the spot market.
He also noted that Chinese mills will have a tough time in Q3 as demand
from the downstream market will be sluggish, which might put pressure on the
steel market, as iron ore contract prices are expected to peak in Q3.
Marmagao port saw A bout 6.7 million tons of iron ore fines of iron content between 51-63 percent
was exported via Marmagao port between April-June 2010, according to
6.7 million tons iron information available with ISMW.
Major part of the lot was exported to ports in China, the world’s largest steel
ore exports in Apr- maker, and Japan. About 144,630 tons was exported for ports in Luxemburg
June and 61,161 tons was exported to Thailand, the compilation showed.
Iron ore of 62 percent iron content was exported at Rs 4749/ton. Ore of 63
ISMW
percent iron content was exported at Rs 5490/ton and ore of 63.5 percent iron
content was exported at Rs 6097/ton.
Kolkata port saw 1.1 A bout 1.1 million tons of iron ore fines of iron content between 56-63 percent
was exported via Kolkata port between April-June 2010, according to
million tons iron ore information available with ISMW. Major part of the lot was exported to ports in
China, the world’s largest steel maker, while about 12,700 tons was exported
fines exports in Apr- for ports in Kazakhstan, the compilation showed.
June Iron ore of 62 percent iron content was exported at prices between Rs 4312-4695/
ton. However, one consignment of ore of the same iron content exported by Essel
ISMW Mining was exported at Rs 5751/ton. Ore of 63 percent iron content was exported
at prices between Rs 4050-6727/ton. However, one consignment of Sesa Goa was
exported at a price of Rs 7335/ton. Sesa Goa exported around 145,423 tons of iron
ore fines from Kolkata port in the three month period, while around 42,300 tons of
iron ore was exported from the port by Essel Mining and Industries Ltd.
Iron ore export A ltogether 4,39,981 tons of iron ore was exported by Indian firms through
the Vizag Port in May, according to information available with Steel Insights
RAW MATERIALS (Iron Ore)
through Vizag Port Daily. Total fob value of iron ore exports through the port was Rs 208.46 crore
while the average rate was Rs 4738 per ton.
reaches 439,981 tons The major exporters included MMTC, Fomento (Karnataka) Mining
ISMW Company, Bagadiya Brothers Pvt Ltd, BTM Exports Ltd and Essel Mining &
Industries. Out of the total exports of 4,39,981 tons, the major part or 2,73,026
tons were exported to China while the remaining 166,955 tons were dispatched
to Japan. The largest single consignment of 70,250 tons was sent by MMTC to
China on May 17.
IRON ORE FINES T T L MINERALS DELAWARE SANGWELL TRADE CO LLC FE 62.5% 6038.54 614.985
5/24/2010 FE 62.5% China
EXPORTS PVT LTD DELAWARE SANGWELL TRADE CO LLC FE 62.5% 6093.57 666.235
DURGESH
IRON ORE FINES China GRAND ZENITH INTERNATIONAL LTD 3080.00 1400
MERCHANDISE PVTLTD
INDIAN PRODUCTS
5/25/2010 China SAPPHIRE MINMETALS CORPORATION LTD FE 57% 3080.00 5000
IRON ORE FINES TRADING CO PVT LTD
FE 57% ROYALLINE RESOURCES
Kazakhstan SAPPHIRE MINMETALS CORPORATION LTD FE 57% 3080.00 10000
LTD
DURGESH
China GRAND ZENITH INTERNATIONAL LTD 3080.00 700
IRON ORE FINES MERCHANDISE PVTLTD
FAIR DEAL SUPPLIES LTD SIN-TANG DEVELOPMENT PTE LTD 4840.00 17000
IRON ORE FINES ESSEL MINING & CHINA NATIONAL BUILDING MATERIALS
China FE 63.5% 5632.00 16000
FE 63.50% INDUSTRIES LTD GROUP CORPORATION
DURGESH
IRON ORE FINES China GRAND ZENITH INTERNATIONAL LTD 3286.50 1017.5
MERCHANDISE PVTLTD
IRON ORE FINES China AMBO EXPORTS LTD NINGBO YOUNGOR INTERNATIONAL TRADE 4601.10 700
FRONTLINE
IRON ORE FINES China SINOSTEEL INTERNATIONAL HOLDING 2999.58 10800
CORPORATION LTD
SKSARAWAGI & CO
SK RESOURCES LTD FE 58% 3756.00 7000
IRON ORE FINES PVT LTD
China
FE 58% SKYLARK FISCAL
SK RESOURCES LTD FE 58% 3756.00 10000
SERVICES PVT LTD
6/3/2010 CARBOFER GENERAL TRADING SA FE 58.4% 3756.00 2500
RAW MATERIALS (Iron Ore Exports)
IRON ORE FINES
China PRIME EARTH MINERALS
FE 58.40% CARBOFER GENERAL TRADING SA FE 58.4% 3756.00 6000
IRON ORE FINES GET MINERALS AND SYNERGY RESOURCES HK LTD FE 62% 4695.00 1350
China
FE 62% COAL PVT LTD SYNERGY RESOURCES HK LTD FE 62% 4695.00 675
AMBO EXPORTS LTD NINGBO YOUNGOR INTERNATIONAL TRADE FE 62% 4601.10 700
6/8/2010 IRON ORE FINES
China GET MINERALS AND
FE 62% SYNERGY RESOURCES HK LTD FE 62% 4695.00 2025
COAL PVT LTD
6/9/2010 IRON ORE FINES China FAIR DEAL SUPPLIES LTD SIN-TANG DEVELOPMENT PTE LTD 5164.50 1000
2925.00 62652
IRON ORE (CALIBRATED LUMPY) China NA NA
3150.00 70564
IRON ORE FINES (GOAN P&S) Japan NA NA (GOAN P&S) 3949.65 16187.5
1129.50 44065
2567.38 40584.6
China NA NA (GOAN PROC)
IRON ORE FINES (GOAN PROC) 3330.00 81000
3648.24 60705
1219.86 48656.08
2710.17 880
4651.56 1056
2322.90 32302.5
Japan NA NA (GOAN PROC)
4399.11 76120
2508.18 43095
2600.83 45900
April'10
3891.05 127890
4517.45 115062.5
IRON ORE FINES (P&S) China NA NA (P&S)
4633.38 88550
5112.23 125840
5410.24 9625
5785.90 127050
2104.42 66951
2104.43 39105
IRON ORE FINES 58.00% (PROC) Luxembourg NA NA 58% (PROC) 3507.60 144630
IRON ORE FINES FE 51/50% (PROC) China NA NA FE 51/50% (PROC) 1755.00 48848 RAW MATERIALS (Iron Ore Exports)
1642.50 47897.85
IRON ORE FINES FE 51/50% (PROC) China NA NA FE 51/50% (PROC)
1710.00 49364
1710.00 55245
2801.25 131067
IRON ORE FINES FE 53% (GOAN PROC) China NA NA FE 53% (GOAN PROC) 3252.24 49918.75
Date Description Country Exporter Importer Grade Unit Price (Rs) Total
2700.00 136260
3240.00 48413.7
2812.50 46260
IRON ORE FINES FE 54% China NA NA FE 54%
3150.00 58696
2250.00 109185
2767.50 22500
4527.81 127455
IRON ORE FINES FE 56.30% China NA NA FE 56.30%
5030.86 127977
2835.00 43695
IRON ORE FINES FE 57.00% China NA NA FE 57%
April’10 3465.00 31417
2155.41 27968
IRON ORE LUMPS (PROC) Japan NA NA
2155.41 9200
3913.34 27450
IRON ORE LUMPS FE 58.50% Japan NA NA
3913.34 10065
4259185.6
IRON ORE FINES (GOAN P&S) China NA NA (GOAN P&S) 3831.43 45090
3916.00 62190
2327.19 46197.5
4775.57 104125
5167.33 49271.25
5579.80 80278
Date Description Country Exporter Importer Grade Unit Price (Rs) Total
Japan NA NA (P&S) 2331.96 69300
IRON ORE FINES (P&S)
THAILAND NA NA (P&S) 4411.75 61161
1936.00 471.6
2739.00 279.9
5595.33 28320
IRON ORE FINES FE 58.30% China NA NA FE 58.30%
5595.33 26550
3432.00 43725.7
IRON ORE FINES FE 58/57% China NA NA FE 58/57%
4664.00 37914
2024.00 58770
IRON ORE LUMPS (GOAN PROC) China NA NA
3443.79 28800
1950814.47
IRON ORE FINES FE 54/53% China (blank) (blank) FE 54/53% 1768.45 7200
1991.62 2116
IRON ORE LUMPS (GOAN PROC) Japan (blank) (blank) (GOAN PROC)
1991.62 60628
IRON ORE LUMPS FE 56.30% China (blank) (blank) FE 56.30% 2833.62 46410
RAW MATERIALS (Iron Ore Exports)
IRON ORE LUMPS FE 58.30% China (blank) (blank) FE 58.30% 5445.47 67767.2
IRON ORE LUMPS FE 59% China (blank) (blank) FE 59% 4225.50 55800
IRON ORE LUMPS FE 60% China (blank) (blank) FE 60% 4225.50 58236
IRON ORE LUMPS P&S China (blank) (blank) P&S 2946.62 56693
IRON ORE SOFT LUMP FE 51% China (blank) (blank) FE 51% 939.00 34017
IRON ORE SOFT LUMP FE 57% China (blank) (blank) FE 57% 1878.00 42786.6
527488.8
1 May ’10 Vizag IRON ORE FINES (FE <62%) China GLOBAL ASSOCIATES NA (FE <62%) 5667.20 4676
6141.76 8664
BAGADIYA BROTHERS
IRON ORE FINES (FE <62%) China NA (FE <62%) 6141.76 16800
PVT LTD
4 May ’10 Vizag
6141.76 7700
NIRNIDHI MARKETING
NA (FE <62%) 5728.80 28700
PRIVATE LIMITED
7 May ’10 Vizag IRON ORE FINES (FE <62%) China
PEC LIMITED NA (FE <62%) 3724.97 600
BTM EXPORTS
NA (FE <62%) 6286.28 26300
LIMITED
21 May ’10 Vizag IRON ORE FINES (FE <62%) China
VINEET EXPORT PVT.
NA (FE <62%) 6476.80 15250
LTD.
RAW MATERIALS (Iron Ore Exports)
IRON ORE FINES (FE
24 May ’10 Vizag China MMTC LIMITED NA (FE 62%<=) 6914.16 65000
62%<=)
Fe Content 56%-57%
Port Date 56.00% 56.20% 56.30% 56.50% 57.00%
4/1/2010 2925.00
4/8/2010 4196.25
5/10/2010 5280.00
Kolkata 5/25/2010 3080.00
5/26/2010 3080.00
6/16/2010 3286.50
6/17/2010 3521.25
April'10 4779.33
Marmagao May'10 4687.83 2802.37
June '10 2833.62 1878.00
Fe Content 56%-59%
Port Date 57.00% 58.00% 58.30% 58.40% 58.50% 59.00% 58%-57% 58/57% 59%
4/5/2010 3150.00
4/13/2010 5172.75
4/16/2010 3780.00
4/21/2010 4636.80
4/28/2010 5400.00
4/29/2010 5400.00
5/4/2010 5635.52
Kolkata 5/6/2010 3520.00
5/7/2010 3740.00
5/10/2010 5280.00
5/25/2010 3080.00
5/26/2010 3080.00
6/1/2010 4037.70
6/3/2010 3756.00 3756.00
6/17/2010 3521.25
April'10 3507.60 5992.24 6008.87 3825.00
Marmagao May'10 5595.33 3740.00 4048.00
June '10 1878.00 5445.47 3867.22 4225.50
16000
5875
14000
5632
12000
INR per ton
10000 6952
6479
6808
6257
5324
6098
8000
6336
5728
5016
5031
6000
4000
7335
6728
6518
6512
6091
6066
5845
5808
5783
5751
5399
5352
5359
4750
4695
4672
4601
4517
4410
4290
4275
4312
4312
4312
4312
2000
0
4/9/2010 4/22/2010 5/4/2010 5/14/2010 5/19/2010 5/24/2010 6/1/2010 6/3/2010 6/8/2010 6/11/2010 6/16/2010 6/21/2010 April'10
Kolkata Marm agao
7000
6000
5000
4000
2000
1000
0
(blank) (blank) (blank) (blank) (blank) (blank) (blank) (blank) (blank) (blank) (blank)
4/1/2010 4/7/2010 4/12/2010 4/19/2010 4/28/2010 5/5/2010 5/11/2010 5/17/2010 5/24/2010 6/1/2010 6/8/2010
Kolkata
Indian scrap import I ndian scrap import quotations continued its downtrend with prices being
quoted at around $370/ton in the current week, industry and trade sources
prices remain bearish told ISMW. The Euro Zone crisis weakened sentiments resulting in fall in finished
steel prices. This has resulted in many steel mills slowing scrap imports this
ISMW
year as the market outlook remained uncertain.
Price of shredded scrap in containers quoted at $370/ton CFR, sources
said. Prices have already decreased from April-end levels of $400/ton and
Scrap importers await B ulk scrap offer prices from the US, UK and Australia have fallen to $380-
$395 per ton cfr East Asia, according to mills and trading sources.
further price drop in Offers for bulk shredded scrap and 80:20 HMS 1&2 are prevailing at $380
per ton cfr China and $390-$395 per ton cfr Vietnam, respectively.
E. Asia However, the market remained quiet with many regional mills still unwilling
ISMW to make bookings. With falling prices, regional mills will book scrap imports in
RAW MATERIALS (Scrap)
smaller quantities and use larger quantities of domestic scrap. Domestic scrap
is lower-priced since home scrap collection has increased, sources said.
The approaching monsoon season in Asia and the Islamic fasting month are
both expected to dampen steel demand. Offer prices for containerised 80:20
scrap from the Middle East and West Africa have dipped by around $10 per ton
this week to $350-$360 per ton cfr. Those from the US and EU are offered at
$370-$375 per ton cfr.
0
20000
40000
60000
80000
100000
120000
140000
Rs per ton
0
5000
10000
15000
20000
25000
30000
June '10 18029 19857 17453 17456 15314 23539 15639
CHENNAI
6/1/2010 20793
June '10 18524
6/4/2010 18327
CHENNAI
6/7/2010 19899 6/1/2010 23058
HMS
6/3/2010 20147
6/9/2010 18906
COCHIN
6/10/2010 18025
6/4/2010 17893
6/14/2010 13806
HMS (CI)
6/15/2010 18126 6/7/2010 21428
6/16/2010 19549
HMS 1
19354
COCHIN
6/10/2010
6/1/2010 15765
SSS
6/3/2010 16463 17640
HMS 1&2
6/4/2010 16915 14511
6/21/2010 18264
6/7/2010 15606
6/23/2010 22801
60
6/8/2010 18327
KANDLA
6/28/2010 16372
6/28/2010 21265
6/29/2010 15273
HMS (FG)
6/30/2010 16370 6/29/2010 21265
June '10 17978
June '10 19578
MARMAGAO
AVERAGE IMPORT PRICE OF HMS THROUGH MENTIONED PORTS - JUN ’10
Shredded Steel Scrap Import Through Mentioned Ports - Jun '10
MARMAGAO
Coking coal weakens C oking coal prices are showing signs of cooling primarily in response to the
weakening steel prices. Domestic price of coking coal in China, the largest
on soft steel prices coal consumer, has witnessed a decline over the last few days. According to
market sources, during the first week of July, spot coking coal price in Shanxi
ISMW
province has been hovering around $192 to $221 per ton excluding VAT, which
was nearly down by around $15 to $29 per ton from mid June.
More important is the fact that buying has been extremely low in the Chinese
market which has significantly dampened the market sentiment.
It will be interesting to note there has been a supply disruption in certain
mines, but it has not affected the market price as expected. As per available
information there has been supply disruption in ArcelorMittal’s Kuzembayev
mine in Kazakhstan, Ukraine’s largest coking coal mine Krasnoarmeyskaya-
Zapadnaya-1, along with heavy rainfall which has disrupted transportation in
Dazhou in south Shaanxi province, but it hardly left any impact on the spot
market.
Hard coking coal T he contract price of hard coking coal between miners and steel mills for
supply in Q2 has been settled at $225 a ton, an official of a leading Indian
contract for Q2 coal trading company said this week.
“Prices of hard coking coal for delivery in Q2 (July-September) have been
finalized at $225/ton settled, but that of semi-hard and semi-soft varieties are yet to be finalized,” the
ISMW trader said. “We anticipate that prices of semi-hard and semi-soft varieties will
either be rolled over or lowered a bit,” he said.
Hard coking coal price in Q1 was settled at $200 a ton against $129 a ton for
2009-10, which was an increase of nearly 55%, he added. Similarly the price of
semi-hard varieties in Q1 was increased by about 88% to $180 a ton from $96
a ton in 2009-10. On the other hand, prices of semi-soft variety were increased
by nearly 109% to $167 a ton in Q1 from a low of $80 a ton in 2009-10.
“Considering the impact of increase in hard coking coal prices in Q2 on
input cost of steel and also considering the current situation in steel demand, if
RAW MATERIALS (Coking Coal)
the steel companies are to keep their input cost under control or reduce it, the
prices of semi-hard coking coal in Q2 should be fixed at $167 a ton and that of
semi-soft varieties should be fixed at $147 a ton,” the trader said.
Since the upbeat trend in steel market witnessed at the time of negotiation
for Q1 is no longer there, and already there has been an increase in prices
of hard coking coal. “It is possible that the prices of semi-hard and semi-soft
varieties of coking coal will either be lowered, or rates of Q1 be rolled over. As
the chances of reduction look bleak, there is higher possibility of rollover in
prices for Q2,” he claimed.
Indian met coke maker S aurashtra Fuels Pvt Ltd’s, India’s largest manufacturer of low ash
metallurgical coke, expects spot coking coke prices to soften by another
sees coking coal $10-15/ton to $205/ton in the near term, a top source told ISMW.
“We do not see any rise in the prices in the near future. The market is sluggish
prices falling with lot of presence of the product. We expect prices to go down further by
ISMW another $10-15/ton,” the source said. Saurashtra Fuels imports coking coal
from Australia to produce low ash metallurgical coke.
The company plans to import 1.2 million tons of coking coal in the current
financial year and had set a contracted price at $225/ton for the second quarter
beginning July.
“We expect prices to go down in the third quarter,” the source added.
Prices
Indian met coke makers were getting a contract price of $451-494/ton for foundry
grade met coke shipped mainly from the western coast at the beginning of July,
a source told ISMW. Coke makers are getting around $440-472/ton for blast
furnace grade met coke on an average from both the eastern and western
coasts, the source said.
(See details on Pg 182-183)
Indian coke maker S aurashtra Fuels Pvt Ltd, India’s largest manufacturer of low ash metallurgical
coke, has signed a contract with Noble Energy for supply of 1.8 million
signs pact with Noble tons of the material over a period of 3 years, a source in the company told
ISMW. Delivery of the first consignment for the contract, claimed to be largest
Energy so far in India, will start from October. Pricing of the contracts would be fixed
ISMW on a quarterly basis. The company would ship 50,000 tons every month from
Mundra and Porbander ports.
RAW MATERIALS (Coke)
“We are expanding capacity at our plants by 20 percent to meet demand,” the
source said. Indian merchant coke makers are looking at export opportunities
in view of the lower realization in domestic market and also to put pressure on
domestic steel makers to increase prices of LAMC.
Already Indian companies like Saurashtra Fuels Pvt Ltd and Ennore Coke
are exporting met coke to countries like Brazil, Iran, Pakistan, Sri Lanka,
Bahrain, South Korea and East African countries.
Shipping Corp sees S hipping Corporation of India (SCI) expects freight rates to remain volatile in
2010, with some stability and rise towards the beginning of 2011, chairman
freight rates improving and managing director S. Hajara told Steel Insights Daily on June 25.
“Freights rates were expected to be volatile this year. Some stability is
in 2011 expected towards end of this year or beginning of next year,” Hajara said.
ISMW The Baltic Dry Index (BDI), which measures freight costs for dry bulk
commodities such as iron ore and coal, had fallen by 1,686 points or 40.26
percent in the last one month to settle at 2501 points on June 25. BDI has
been on a downward journey especially after touching a high of 4209 points
in the last week of May. Improved movement of iron ore and coal saw rates
appreciating strongly in May; however in June there was a downslide as vessel
fixing activity slowed down. Much of this was due to the public holidays in
China and Taiwan and also high inventories of iron ore at the Chinese ports.
Traffic through major C ontinuing with the recent positive trend, traffic movement through the 12
major ports of the country recorded a 3.60 percent annual growth during
ports up 3.6 percent April-May 2010, mainly due to an increase in movement of container, iron ore
and other cargo.
during April-May According to the latest data released by the Indian Ports Association (IPA),
ISMW total traffic handled by the major ports during April-May 2010 was 94.449
million tons, higher than 91.165 million tons handled during the same period
a year ago.
During April-May 2010, iron ore movement through the major ports
improved by 1.99 percent to 17.658 million tons as compared to 17.314 million
tons handled during the same period last year.
Container movement during the same period was up 18.41 percent to 18.260
million tons as against 15.421 million tons reported for the corresponding
period a year ago.
LOGISTICS
Other cargo movement during the period stood at 15.153 million tons, a
2.03 percent increase over 14.852 million tons posted a year ago.
Mormugao Port T he Mormugao Port Trust has issued a circular stating cargo carrying vessels
need to be transported in covered barges, stored in permanently covered
outlines steps for sheds and proper moisture testing needs to be administered for final sailing of
iron ore fines carrying vessels.
vessels carrying The effort was taken to stop shrinkage of vessels loaded with iron ore fines
iron ore fines and blended lumpsum fines. While cargoes are being loaded on the vessel
the moisture content needs to be independently sampled and assessed by a
ISMW competent organization, the circular dated June 3 said. After the hatch-wise
data obtained by the independent sampling gets accepted the information
needs to be submitted to the Surveyor of the Mercantile Marine department
following which the vessel would be permitted to sail out of the port.
Kolkata Port earmarks H amstrung by the falling draft level, the Kolkata Port Trust (KoPT) is all set
to build a deep-drafted cargo handling facility at Salukhali near Diamond
Rs 600 cr to for Harbour at a cost of around Rs 600 crore, port chairman M L Meena said. The
port, which plans to come up with alternate port facility at three new locations,
new berth facility at would initially set up three berths at Salukhali for handling bulk cargo like
Salukhali coking coal, thermal coal and iron ore, he said.
The project will be implemented under public private partnership (PPP)
ISMW model and is estimated to cost around Rs 600 crore, Meena said at an
interactive session organized by the Merchants’ Chamber of Commerce. The
port has obtained in principle approval from the shipping ministry as well as the
environmental clearance and is in the process of sorting out land issues that
has stood as a stumbling block for the project. “The in principle approval has
been given by the ministry, but land issue is still there….Once we get the land,
we will immediately float the tender,” said the chairman, who has recently taken
over the position that remained vacant for almost a year.
The port authorities have already identified about 165-170 acres of land,
most of which is owned by the state government. KoPT has submitted a formal
proposal to the state regarding the proposed land acquisition and will hold a
meeting next week. Along with this, KoPT will reclaim another 300-400 acres
for the said project. The new berth facility is expected to allow faster handling
of cargo and reduce the turnaround time for vessels visiting the only riverine
major port in the country.
Earlier, Meena said the major reason for falling cargo handling capacity of
KoPT is the continuous silting of the river bed and the port was focusing on
both continued dredging and new port facility in deep drafted areas to cope
LOGISTICS
with the problem. KoPT handled 46.3 million tons of cargo in 2009-10, which
marked a 14.6 percent decrease over 54.2 mt handled in the previous year.
Railway Ministry I n what can be termed as a noteworthy policy initiative, the Ministry of Railways
has formulated a policy on development of automobile and ancillary hub to
develops auto, facilitate bulk movement of automobile sector traffic by rail and to increase
Railways’ share in automobile sector transportation. Such a move is likely to
ancillary hub help grow country’s steel demand to a great extent.
ISMW As per the latest release from the government, the policy which has
become effective from June 16, 2010 would allow any registered company in
India, manufacturer of automobile or logistics company or Society for Indian
Automobile Manufacturer (SIAM) or registered freight train operator, having
annual turnover of Rs 20 crore during last financial year, to apply.
As per the information, the Railway land would be provided for such hubs
on licence basis initially for a period of seven years, while the licence fee will be
LOGISTICS
payable as per extant policy. Automobile and ancillary hubs shall be a common
user facility for general use of the automobile industry, without any exclusive right.
ArcelorMittal signs A rcelorMittal, the world’s largest steel maker, has formally signed an initial
agreement to spend Rs 30,000 crore to build a 6-million-tonne-a-year
pact for plant in steel plant in the southern state of Karnataka. ArcelorMittal and South Korea’s
POSCO have faced delays of more than two years to build a total of 37 million
Karnataka tones capacity in eastern India due to long time in allocation of mining leases
ISMW and protests by local farmers against land acquisitions.
The total reserve of high grade iron ore available in the State are of the order
of 1,000 million tones, according to state government website.
Record performance
by Bhilai Steel Plant
S teel Authority of India Limited’s (SAIL) Bhilai Steel Plant has reported the
best ever performance for the months of April and May 2010. Bhilai Steel
Plant recorded its best May production of BF coke, sinter, hot metal, crude
ISMW
steel, plates, saleable steel as also loading and despatch of saleable steel.
The Coke Ovens, Blast Furnaces and Steel Melting Shops have achieved
record April-May performance since inception of the plant. The Coke Ovens
finished April-May ’10 with best ever average equivalent oven pushing rate of
776 ovens per day for the month against the previous best May figure of 746.4.
Production of 2,67,753 tons of Blast Furnace coke was the best for any May
month since inception.
The Sinter Plants have recorded best-ever April-May production of 13,56,188
tons of sinter as against previous best of 12,42,700 tons. The Blast Furnaces
recorded best ever April-May Hot Metal production of 9,39,315 tons as
against previous best of 8,82,100 tons. Both the steel melting shops too have
registered their best ever performances. As per information from the plant,
with SMS I and SMS II recording their best April-May production of 4,39,100
tons and 4,46,751 tons, respectively, the plant has recorded its best crude steel
production of 8,85,851 tons for the period against previous best of 8,45,700
tons. SMS II’s Continuous Casting Shop has also recorded its best ever May
production of 1,45,610 tons of CC Slabs. The plant also recorded its best April-
May production of 4,40,595 tons of ingots rolled at its blooming and billet mill.
Among the plant’s finishing mills, the plate mill recorded its best April-
May production of 2,13,200 tons of Finished Plates as against previous best
of 2,13,200 tons. The Mill recorded its best May finished plates production of
1,09,012 tons as against 1,07,168 tons recorded in 2007. The mill has also
recorded its ever-best May despatches of 1,04,095 tons and best Specific
power consumption of 91.06 KWH/tons as against previous best of 106.31
KWH/ tons recorded in May 2008. The Wire Rod Mill recorded its best ever May
production of 57,311 tons Wire Rods. The mill has also finished May 2010 with
best-ever TMT Wire Rods production of 39,144 tons.
With such record May performances, Bhilai Steel Plant has finished April-
May 2010 with the best ever saleable steel production of 7,71,939 tons, against
CORPORATE
the previous best of 7,29,300 tons. Saleable steel loading and despatch figures
of 3,82,005 and 3,82,271 tons, respectively, were also the best for any May
month since inception.
Electrosteel expects to India’s leading ductile iron pipe maker Electrosteel Castings Ltd, which has
been allocated an iron ore block at Kodolibad in Jharkhand state, expects to
start iron ore mining get environment clearance soon, the company said in its annual report.
“On receipt of the consent the mining lease would be signed,” it said.
from Kodolibad block Following signing of the mining lease, the company would start developing
soon the mine and once developed the company would be reducing its steel/DI Pipe
production cost further, it said.
ISMW
Alongwith the iron ore block, the company is also in the process of
developing a coking coal block that was allotted to it in 2005. As Indian coal
has higher percentage of ash, Electrosteel has also set up a washery of 2
million tons per annum to reduce the ash from the coking coal.
In 2009-10, Electrosteel posted a 6.5 percent fall in production of ductile
iron pipes to 2,35,463 tons mainly due to planned shutdown of blast furnace
for its relining and repairing in the last quarter of 2009-10.
Defective HR Coil sold A small quantity of 58 tons of defective HR Coil for delivery from Faridabad
fetched an attractive rate on e-auction platform of metaljunction on June
on e-auction platform 29, according to information available with ISMW.
The entire quantity, offered in a single lot, by a public sector steel plant
ISMW
received average bid of Rs 22050 per ton (all inclusive).
Limestone import A round 169,159 tons of limestone came in through Vizag port in May this
year, port data revealed.
through Vizag port in Bhushan Power & Steel was the highest importer of low silica limestone and
brought in around 54151 tons from Oman at a price of around Rs 1456 (about
May $32) per ton. This was followed by RINL who imported around 45,244 tons of
ISMW the material at around Rs 985 (about $22) per ton from UAE.
Tata Steel and SAIL were other importers of low silica limestone who brought
in around 28,674 tons and 23,000 tons of it respectively from UAE. Tata Steel
imported the product at around Rs 1526 (about $34) per ton while SAIL got it
for Rs 2290 (about $51) per ton. Price varied for the grade of limestone bought,
the data revealed. Wolkem India Ltd imported around 18,090 tons of white
limestone in chip form from Malaysia at two different prices of around Rs
2578 (about $57) per ton and Rs 1854 (about $41) per ton.
National Spot N ational Spot Exchange Ltd, jointly promoted by Financial Technologies
India Ltd and National Agricultural Marketing Federation of India Ltd, plans
Exchange to launch to launch cash contracts for steel in the next two to three months, a top official
told ISMW on June 23. The product, meant for retail investors interested in
cash steel contracts parking funds in commodities, would have contracts for steel ingots and billets,
ISMW Anjani Sinha, MD and CEO of the bourse said. The billets would be priced at a
premium of about Rs 200 per lot over the ingots.
The lot size for each unit of steel would be 1 quintal or 100 kg. Investors can
buy the lots by placing orders through a member of the exchange or through
online spot trading platform and keep in dematerialized format. They can also
take physical delivery at specified lot sizes. The lots would be credited in the
account within 2 working days of the transaction.
The exchange, which has already launched cash contracts for gold and
silver, currently has a turnover of Rs 15 crore per day. It plans to take the daily
transaction level to Rs. 500 crore for each commodity traded at the bourse in
the next 1 year. The exchange would launch cash contract for copper in July
followed by zinc and nickel. It also plans to launch cash contracts for aluminum,
cadmium, black pepper, guar seed, guar gum and castor seed.
Financial Technologies, currently owing 99 percent in the bourse, also has
plans to divest its stake in the exchange in phases to strategic investors, Sinha
OTHERS
added.
China steel exports T here is a strong possibility that China’s steel exports would fall in the near
future as summer vacations in the US and Europe are approaching and
may fall downstream buyers in the Asia-Pacific regions tend to stop rebuilding their
inventories, noted a recent media report on CISA’s website.
ISMW
“This is quite a possibility also because of the economic situation in EU and
US. One should not forget that the current sentiment is quite shaky in the US
following the BP oil spill episode. The economic impact over a large region in
the US is yet to be analysed completely, but would be undoubtedly huge. And
economic activities in a large part of EU is far from what is desired,” explained
an eminent steel analyst of a leading e-commerce company.
According to available information, in May China exported 4.94 million tons
(mt) of steel products, up 6,30,000 tons from April and 265.93 percent from
a year earlier while importing 1.36 mt, down 140,000 tons from the previous
month and 17.58 percent year-on-year. But the surge in May exports was
just a reflection of flourishing orders one or two months ago when overseas
customers were in a rush to rebuild their stock before summer vocations.
China to cut steel T he China Iron & Steel Association (CISA) has carried a news article on its
website, saying that the Commerce Ministry spokesman confirmed that
export rebates China will reduce export tax rebates on parts of steel products sometime
this year in a bid to assist the national goal of saving energy and reducing
ISMW
emissions.
He said Chinese exports of steel to Germany, Spain and Britain may be
OTHERS
Steel News • The European Commission fined 17 steel producers including ArcelorMittal
a total of 518 million euros for running a price-fixing cartel. ArcelorMittal was
ISMW hit the hardest (276.5 million euros). The commission said the companies
ran a cartel that lasted 18 years:1984 to 2002, to fix the prices of prestressing
steel. The cartel operated all across EU except in Britain, Ireland and Greece.
• China’s Ministry of Commerce (MOFCOM) places 6.1-26% AD duties on
certain carbon steel fasteners from the EU, effective from 29 June.
• Korea’s crude steel capacity is likely to reach an all-time high of 80.21million
t/y in this year, up 16.04million t/y from 2009.
• According to Japan Iron & Steel Federation (JISF) - Japan’s imports of
ordinary steel products from China rose by 402.3% y/y and 34.6% m/m to
~73kt in May
• India is China’s second largest Steel exports destination now. China globally
exported 17.92 million tonnes of steel in Jan-May 2010. While South Korea
topped China’s export destination (4million tonnes), 1.9 million tonnes were
exported to India. Out of this 573,752 tonnes were exported in May.
China News • China expected to produce 620-630mt of steel in 2010. China’s fixed asset
investment in its steel industry grew by 13.8% y/y to 35.6bn Yuan ($20bn)
ISMW between Jan-May 2010. Mr Li also stated that the ministry will further
regulate iron ore imports and push for further consolidation of the Chinese
steel Industry via M&A route
• According to Shanxi Economic & Trade Commission (SETC), Shanxi Province
will shut down 47 obsolete BFs by September 2010 in addition to 37 BFs
identified in the previous list taking out 10.4mt/y of iron making capacity
• China’s Ministry Of Finance eliminated export rebates on a range of products
from 9-13% to 0% as of 15 July, including high end flat carbon ( not stainless)
steels and metals.
• According to Raw Materials Group (RMG) - Chinese iron ore production
contracted by 27% y-o-y in 2009 to 235mt, and 2005-2008 figures were
revised downwards. Revised 2008 figure stands at 321mt down from 366mt
(converted to a Fe content of 63%). The figures for 2005, 2006 and 2007 now
stand at 285, 356 and 400mt respectively
• As reported by Chinese Customs, Chinese Steel exports are up 293.01% y/y
SNIPPETS
to 5.62mt in June. this is 680kt more than May exports. In contrast imports
fell by 9.82% y/y (up 110kt m/m) to 1.47mt in June.
Domestic News • SAIL to raise production to 60mt by 2020 as part of its plan to become a
global player. The company also plans to increase the share of value-added
ISMW products from current 37-38% to a much higher proportion
• SAIL is trying again to get a new coking coal mining operation started in
Tasra coal block in Jharkhand.(4 million t/y: reserves: 100 million tonne).
• Rashtriya Ispat Nigam (RINL) is targeting mid-2012 commissioning for its
ferro-alloy JV (50:50) with manganese ore miner, Manganese Ore (India) Ltd
(MOIL). (20,000 t/y of ferro-manganese and 37,500 t/y of silico-manganese).
• NMDC in talks with Nippon Steel to form 2mt/y integrated mill JV in Karnataka.
NMDC is also in talks with Kobe Steel, for setting up a joint venture plant
to produce iron ore nuggets from fines. The proposed nugget plant would
be at the premises of Sponge Iron India Ltd (SIIL), which has an annual
capacity of 60,000 tonnes.
• AM in negotiations to set up 1.5mt HRC plant with Uttam Galva with an
investment of Rs 6000 crores in Sindhudurg, Maharashtra. The greenfield
steel plant will produce HRC as part of a backward integration for Uttam
Galva’s Khopoli unit which is a secondary steel manufacturer.
• Essar Steel has bought steel processor Servosteel, the UK’s largest
independent steel processor. (Capacity: 500,000 t/y).
• JSPL is reported to be setting up a plant at Barbil in Orissa to recover iron
ore from the iron ore dust, treated as waste at the iron ore mines. The plant
will be based on a technology developed by the Institute of Minerals and
Materials Technology Bhubaneswar. (Capacity: 300 tonnes per hour of
tailing material). In 2007, pilot plant tests for the technology were carried out
at Essar Steel, Tata Steel and Jindal Steel.
• JSW Steel plans to ramp up capacity from current 7.8 million t/y to 32 million
t/y by 2020. (Investment: 75,000 Cr).
• Mahalaxmi TMT Bars plans to commission a 240,000 t/Y direct reduced iron
SNIPPETS
Ostrava’s production
32500
31000
TMT Bar
22286 20121 -9.72 -9.60 0.89
Cutting
Not 49073.05 28
MUMBAI
Available 49073.05 32
49073.05 127
49314.79 99
49363.14 19
49459.83 151
CRC (NA) (JFE-CF SS4011-SP SI)
49459.83 292
48831.31 11
49073.05 102
49073.05 239
49073.05 118
JAPAN CRC (NA) 49073.05 40
6/27/2010
49314.79 121
49363.14 110
49459.83 291
49459.83 160
SPAIN CRC (NA) 35635.53 12
40364.09 120
40364.09 204
CHINA PRIME CRC
6/28/2010 40364.09 428
40364.09 300
RUSSIA CRC (0.60M T12) 40123.85 2859
6/29/2010 JAPAN CRC (NA) (SKIN PANEL JFECF SS4011-SP S) 49459.83 29
OTHERS, 5140, 8%
350000
Import price of CRC- 0.6 mm thickness - during June 2010
(different colour code represents different transactions on mentioned date/port)
300000
38518
46581
250000
36730
200000
Rs per ton
36709
36730
150000
36709
36730
36951
100000
39291
38854
35645
35521
35331
50000
45592
44627
43707
42307
40202
37986
38855
36951
0
CHENNAI KANDLA KANDLA KANDLA KANDLA MUMBAI MUMBAI KANDLA
June '10 6/1/2010 6/7/2010 6/9/2010 6/10/2010 6/17/2010 6/18/2010 6/30/2010
0.6
38446
41701
38881
38371 0
41701
44830
38569
38371
43030 0
Rs per ton
41516
45748
38371
38575
42788
41758
37893
40234
49907
42788
38371
38106
37887
45592 0
45748
43030 0
38371
43851
39945
41516
43851 0
49907
45592
45145 0 45145
42788
42304
41949
37887
0 35355 35084
0 45592 0
0 38775 0
0 49907
0 45592
0 45785
0 43549
0 42643
0 39709
37887
36826
0 35355
KANDLA KANDLA KANDLA KANDLA MUMBAI MUMBAI MUMBAI KANDLA MUMBAI MUMBAI MUMBAI MUMBAI MUMBAI
6/1/2010 6/7/2010 6/9/2010 6/10/2010 6/14/2010 6/15/2010 6/17/2010 6/18/2010 6/19/2010 6/24/2010 6/25/2010
0.7
38371
300000
38371
37887 0
250000
38371
38371
Rs per ton
200000
37887
38371
36999
41516
150000
36290
36709
44177
37887
100000
36951
45120
44177
38371
36951
35645
50000
49907
44177
0 39291
38371
0 35645
0 35355
0
0
KANDLA KANDLA KANDLA KANDLA KANDLA MUMBAI
6/1/2010 6/7/2010 6/9/2010 6/10/2010 6/17/2010 6/19/2010
0.65
600000
500000
400000
Rs per ton
300000
200000
100000
0
KANDLA KANDLA KANDLA KANDLA MUMBAI MUMBAI MUMBAI KANDLA MUMBAI MUMBAI MUMBAI MUMBAI MUMBAI
6/1/2010 6/7/2010 6/10/2010 6/17/2010 6/18/2010 6/19/2010 6/23/2010 6/24/2010 40336 6/21/2010 6/18/2010 6/19/2010
0.8 0.88 0.9
250000
43062
200000
43062
Rs per Ton
150000
42588
42677
38113
100000
40381
43021
42291
43066
41203
34146
50000
45592
45748
42586
42242
39216
39689
39216
36097
36463
33865
34146
34146
0
KANDLA MUMBAI MUMBAI MUMBAI KANDLA KANDLA KANDLA KANDLA KANDLA MUMBAI MUMBAI KANDLA
6/7/2010 6/9/2010 6/18/2010 6/19/2010 6/8/2010 6/1/2010 6/5/2010 6/9/2010 6/10/2010 6/18/2010 6/19/2010 6/9/2010
1.5 1.55 1.6 1.8
140000
120000
42677
100000
40653
80000
Rs per Ton
42871
60000
39847
40000
42779
42194
39216
34478
34305
20000
0
KANDLA KANDLA MUMBAI KANDLA KANDLA
6/1/2010 6/9/2010 6/18/2010 6/9/2010 6/7/2010
2 2.3 3
600000
500000
45714 45592 45592 45592 45592 45592 45592 45592 45592 45979 46414
400000
Rs per Ton
300000
200000
38823 8823 38823 38823 38823
100000
32
46887 49460
45592 45592
24 40364
3
49460
47836
45302
43948
42256
42208
42885
38823
37829
401
0
MUMBAI MUMBAI MUMBAI MUMBAI MUMBAI MUMBAI MUMBAI MUMBAI
6/24/2010 6/7/2010 6/10/2010 6/14/2010 6/21/2010 6/24/2010 6/27/2010 6/29/2010
24377.81 0.39
16914.97 34.59
DENMARK 72121090 TINPLATES SEC/DEF S AN 300 MM
16914.98 88.91
6/17/2010
24436.10 26.44
UNITED
72101210 ELECTROLYTIC TINPLATES COILSLS SEC
STATES
24436.10 0.20
22523.07 34.79
22400.21 23.47
SECONDS
MUMBAI
22400.21 28.45
GERMANY 72101210 TINPLATES WASTE/WASTE IN COILSLS
22400.21 4.21
6/23/2010
22400.21 45.76
22976.27 0.26
UNITED
72101210 SEC/DEF TINPLATES COILS
STATES
22976.28 102.00
23947.00 0.01
UNITED ARAB
6/25/2010 72101190 TINPLATES SEC MISPRINTED W GRADE SHEETS
EMIRATES
23947.38 135.85
24647.54 51.40
TINPLATES WASTE WASTE SHEETS IN
24647.54 0.14
UNITED
6/29/2010 72101290
STATES
24647.52 0.12
TINPLATES WASTE WASTE SHHETS IN
24647.54 49.80
41290.18317 4.04
PRIME EG SHEET ( 1.50MM X 183MM X 398MM 72122090 CHENNAI SINGAPORE June ‘10
41312.29461 9.64
PRIME EG SHEET ( 1.50MM X 184MM X 1250M 72122090 CHENNAI SINGAPORE June ‘10 43423.15625 1.28
PRIME EG SHEET ( 1.50MM X 205MM X 1265M 72122090 CHENNAI SINGAPORE June ‘10 43288.06693 2.54
41317.99583 14.39
PRIME EG SHEET ( 1.50MM X 240MM X 434MM 72122090 CHENNAI SINGAPORE June ‘10
41355.88136 1.18
PRIME EG SHEET ( 1.50MM X 240MM X 464MM 72122090 CHENNAI SINGAPORE June ‘10 41318.09906 14.84
PRIME EG SHEET ( 1.50MM X 242MM X 1195M 72122090 CHENNAI SINGAPORE June ‘10 43216.71839 3.48
41264.77376 2.21
PRIME EG SHEET ( 1.50MM X 270MM X COIL 72122090 CHENNAI SINGAPORE June ‘10
41284.62281 2.28
41334.23948 9.27
PRIME EG SHEET ( 1.50MM X 303MM X 500MM 72122090 CHENNAI SINGAPORE June ‘10 41338.64716 11.62
41355.88559 2.36
PRIME EG SHEET ( 1.50MM X 415MM X 1219M 72122090 CHENNAI SINGAPORE June ‘10 41337.55823 2.49
PRIME EG SHEET ( 1.50MM X 426MM X 600MM 72122090 CHENNAI SINGAPORE June ‘10 41336.88372 2.58
41311.96121 4.64
PRIME EG SHEET ( 1.50MM X 480MM X COIL 72122090 CHENNAI SINGAPORE June ‘10
41337.90722 4.85
PRIME EG SHEET ( 1.50MM X 490MM X 980M 72122090 CHENNAI SINGAPORE June ‘10 47643.91525 4.72
PRIME EG SHEET ( 1.50MM X 640MM X 1005 72103090 CHENNAI SINGAPORE June ‘10 47603.57246 4.14
PRIME EG SHEET ( 1.50MM X 709MM X 913M 72103090 CHENNAI SINGAPORE June ‘10 47638.11756 6.89
47490.89941 1.69
PRIME EG SHEET ( 1.50MM X 915MM X 923M 72103090 CHENNAI SINGAPORE June ‘10
47610.25843 14.24
PRIME EG SHEET ( 1.50MM X 915MM X 928M 72103090 CHENNAI SINGAPORE June ‘10 47624.68293 4.51
PRIME EG SHEET ( 1.60MM X 1219MM X 243 72103090 CHENNAI SINGAPORE June ‘10 47371.51822 4.94
PRIME EG SHEET ( 1.60MM X 132.8MM X 12 72122090 CHENNAI SINGAPORE June ‘10 47288.31088 1.93
PRIME GALVANISED COILS G 1130 X C 72103090 MUMBAI REP OF KOREA 6/19/2010 45283.8047 18.74
PRIME GALVANISED IN COILS 72121010 CHENNAI CHINA June ‘10 34210.53694 123.7
SEC/DEF/REJ/MS/GI/COATED- MIXED BABY SLIT COILS 72122090 CHENNAI ITALY June ‘10 18944.77183 21.3
18848.11488 26.55
SEC/DEF/REJ/MS/GI/COATED MIXED SHEETS/CUTTINGS 72122090 CHENNAI USA June ‘10
18849.82755 55.03
18942.43609 24.33
SEC/DEF/REJ/MS/GI/COATED-MIXED BABY COILS 72122090 CHENNAI BELGIUM June ‘10
18944.47017 125.53
18607.45084 95.09
SEC/DEF/REJ/MS/GI/COATED-MIXED BABY SLIT COILS 72122090 CHENNAI BELGIUM June ‘10
18945.11463 221.15
SGACC 1.2*243*1219 (GOLVANIZE COIL) 72104900 CHENNAI SOUTH KOREA June ‘10 72831.04967 4.792
SGACC 1.2*250*1219 (GOLVANIZE COIL) 72104900 CHENNAI SOUTH KOREA June ‘10 72831.09781 4.928
STEEL STRIPS RUBBER COATED NA RGMS14001 168 MM 72125090 CHENNAI NETHERLANDS June ‘10 489313.7209 0.172
ZN-AL-MG-ALLOY COATED SHEET 72259900 CHENNAI JAPAN June ‘10 44571.6 0.05
VALVE (ALLOY ) BARS 21/4N 7.75 MM 72221111 CHENNAI JAPAN June '10 249857.82 1.65
VALVE (ALLOY ) BARS 21/4N 7.75MM 72221111 CHENNAI JAPAN June '10 260071.60 0.90
VALVE (ALLOY ) BARS 21/4N 8.05 MM 72221111 CHENNAI JAPAN June '10 250110.21 1.98
249722.23 0.86
VALVE (ALLOY ) BARS 21/4N 8.35 MM 72221111 CHENNAI JAPAN June '10
249857.82 1.65
VALVE (ALLOY ) BARS 21/4N 8.45 MM 72221111 CHENNAI JAPAN June '10 249296.35 1.78
VALVE (ALLOY ) BARS 21/4N 8.65 MM 72221111 CHENNAI JAPAN June '10 249669.96 5.32
249857.82 0.89
VALVE (ALLOY ) BARS 21/4N 8.85 MM 72221111 CHENNAI JAPAN June '10
249857.83 0.86
249857.83 0.86
VALVE (ALLOY ) BARS 21/4N 9.05 MM 72221111 CHENNAI JAPAN June '10 251523.53 0.45
259491.85 0.88
249765.62 2.71
VALVE (ALLOY ) BARS 21/4N 9.15 MM 72221111 CHENNAI JAPAN June '10
276062.01 1.66
249566.61 4.29
VALVE (ALLOY ) BARS 21/4N 9.40 MM 72221111 CHENNAI JAPAN June '10
259104.55 2.68
249857.96 1.65
VALVE (ALLOY ) BARS 21/4N 9.45 MM 72221111 CHENNAI JAPAN June '10
250889.25 0.93
VALVE (ALLOY ) BARS 21/4N 9.65 MM 72221111 CHENNAI JAPAN June '10 249573.89 3.52
VALVE (ALLOY ) BARS 21/4N 9.80 MM 72221111 CHENNAI JAPAN June '10 260117.13 0.83
VALVE (ALLOY ) BARS 21/4N DIA 6.85 MM 72221111 CHENNAI JAPAN June '10 284015.82 0.90
276895.88 0.89
VALVE (ALLOY ) BARS 21/4N DIA 9.80 MM 72221111 CHENNAI JAPAN June '10
277216.14 1.73
VALVE (ALLOY ) BARS 21-4N 7.25MM 72221111 CHENNAI JAPAN June '10 258568.18 1.73
VALVE (ALLOY ) BARS SUH 11 5.45 MM 72283011 CHENNAI JAPAN June '10 227174.63 0.41
VALVE (ALLOY ) BARS SUH 11 5.70 MM 72283011 CHENNAI JAPAN June '10 202969.34 1.81
202799.08 7.30
224335.58 8.80
VALVE (ALLOY ) BARS SUH 11 5.85 MM 72283011 CHENNAI JAPAN June '10
224374.51 14.23
224689.77 1.78
VALVE (ALLOY ) BARS SUH 11 5.85MM 72283011 CHENNAI JAPAN June '10 223949.75 0.92
VALVE (ALLOY ) BARS SUH 11 5. 70 MM 72283011 CHENNAI JAPAN June '10 202663.28 4.29
202095.29 0.95
208590.38 2.72
VALVE (ALLOY ) BARS SUH 11 5.70 MM 72283011 CHENNAI JAPAN June '10
208820.74 3.52
208990.47 3.69
VALVE (ALLOY ) BARS SUH 11 6.15 MM 72283011 CHENNAI JAPAN June '10 196177.27 1.65
VALVE (ALLOY ) BARS SUH 11 6.30 MM 72283011 CHENNAI JAPAN June '10 195831.58 2.27
VALVE (ALLOY ) BARS SUH 11 6.30MM 72283011 CHENNAI JAPAN June '10 201619.11 0.99
VALVE (ALLOY ) BARS SUH 11 7.25 MM 72283011 CHENNAI JAPAN June '10 194328.09 0.53
VALVE (ALLOY ) BARS SUH 3 5.85 MM 72283011 CHENNAI JAPAN June '10 228188.27 0.90
22.7%
32.8%
84.88%
Met Coke
Ports
Aug’09 Sept’09 Oct ‘09 Nov ‘09 Dec’09 Jan’10 Feb’10 Mar’10 Apr’10 May ‘10 June’10 July’10
Kolkata Haldia 47,663 23,000 23,000 0 0 18,000 0 0 0 0 0 0
Paradip 0 35,200 109,146 59,736 94,463 56,643 0 22,100 0 105,577 196,100 9,971
Ennore NA 0 0 0 0 0 0 0 0 0 0 0
Chennai 44,948 0 15,502 64,941 18,900 0 38,554 19,800 12,530 79,063 30,626 13,200
Tuticorin 24,701 0 0 0 0 0 0 24,857 0 0 0 0
Mangalore 0 20010 0 0 0 24056 33133 15,000 0 NA 0 0
Goa 63,802 86,863 95,406 69,511 49,925 0 0 0 31,796 49,500 15,050 49,000
Mumbai 0 0 0 0 0 0 0 0 0 0 0 0
Vizag 58578 63401 57464 10489 39698 0 76296 0 61,273 18,365 5,410 22,515
Navlakhi 0 0 0 0 0 0 0 0 0 0 0 0
Porbandar 0 0 0 0 0 0 0 0 0 0 NA 0
Bhavnagar 0 0 0 0 0 0 0 0 0 0 NA NA
Pipavav 0 54998 0 55000 0 0 0 0 0 0 0 0
Cochin 0 0 0 0 0 0 0 0 0 0 0 0
Mundra 0 0 0 0 0 0 0 0 0 0 0 0
Bedi 0 0 0 0 0 0 0 0 0 0 0 0
Kandla 0 0 0 0 0 0 0 0 45,000 0 0 0
Magdalla 0 0 0 0 0 0 0 0 0 0 NA 0
Dahej 0 0 0 0 0 0 0 0 0 0 NA NA
Krishnapatnam NA 23,701 10,000 0 0 0 48517 0 0 0 0 13,122
Total 239,692 307,173 310,518 259,677 202,986 98,699 196,500 81,757 150,599 252,505 247,186 107,808
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