Daily Update Sector: Steel Date:21-November-2011Market 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 Page 1 However. Basic price.e. Prices are likely to remain firm in the coming days". Absence of the imported material in the domestic market also helping local scrap prices to remain firm". "Domestic scrap prices are unlikely to correct soon as demand for the product is quite healthy from Ingot manufacturers.Rise in Ingot prices . exice duty and taxes extra Page 2 . However buying remains weak across country. 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. 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. JSW Steel Limited. up by Rs 100/MT from previous trade price. 15:32 Scrap Scrap prices as on 21-November-2011 Domestic ferrous scrap prices moved up at few mandis' by Rs 100-400/MT. others are running their units at less than half of their capacity and are totally dependent on iron ore auctioned by the government. Some of the reasons are as follows that made domestic scrap expensive: .Daily Update Sector: Steel Date:21-November-2011 Market Review Ferrous scrap prices strengthen amid weak demand 19-Nov-2011 .Improved demand for the product HMS scrap traded at same price at Rs 27. the Monitoring Committee in Karnataka has agreed to extend the timings for transportation of ore from the present 12 hours to 16 hours. Sponge iron manufacturers complaint for inferior quality of iron ore in e-auctions 21-Nov-2011 . But according to the chief executive officer and director. Buyers are purchasing scrap only for immediate need. Basic price. ED and taxes extra *Including all. "Unless the government allows transportation of the raw material round the clock." said Mr Singhal. Basic price. While dried up iron ore supply has forced most of sponge iron plants to shut their production.500/MT in Mandi Gobindgarh i. "Quality available during auction is not up to the mark. said a trader based in Raipur.Auction prices are hovering around Rs 3500-3700/MT for Fe 58-60% for a size of 3-40mm iron ore. "Demand for local scrap is in hand and mouth situation. 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. a mill official based in Mumbai said. it would be difficult to maintain the production levels and we cannot shut down the furnaces". Demand for the local HMS scrap in Alang continue to improve taht made scrap prices to move up by Rs 400/MT. more over size varies in every lot. ED and taxes extra Price Change 21400 + 100 21800 0 22600 0 22000 0 22000 0 28500* . Considering that the delay in the transport of iron ore is affecting production.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. sponge manufacturer based at Bellary. Rs 38. 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.500 (12MM ex-work basic price) i. Basic price. 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. Basic price. Basic price.000 each to Rs 55. the freight rates for ten metric tonneload trucks have moved up by Rs 1.e. freight rates move up 21-Nov-2011 .000. ED and taxes extra TMT (Raipur) TMT (Mumbai) Page 3 . Hyderabad and Kochi went up by Rs 1.000. ED and taxes extra Rates for freight from Delhi to Mysore.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 * /MT. ED and taxes extra. ED and taxes extra BINDING WIRE(20 GAUGE) 45200 42500 39800 44600 * /MT. same as the previous close.000 and Rs 58. Basic price. Rebar at Raipur was being offered at Rs 33.5MM 34200 34500 35600 38300 * /MT. However. 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'.Daily Update Sector: Steel Date:21-November-2011 Market Review Re-bar prices remain unchanged. 5MM 2. Ex-mines basic price.3267 BALAGHAT MOIL--.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 .†said the source.000.60MM Place CHENNAI MUMBAI AHMEDABAD KOLKATA DELHI BANGALORE LUDHIANA PUNE RUDRAPUR KANPUR Plant Price* 45300 42800 43100 44800 41500 43800 44515 44300 48000 45300 * /MT. all taxes extra Page 4 .60MM 0. all taxes extra 4446 -- 4448 9750 42.60MM 0.4400 3900 Place DURGAPUR RAIGARH RAIPUR ROURKELA SiMn(13-60)* 49500 50000 49500 48500 FeMn(20-70)* 51000 51000 49500 49000 * /MT.60MM 0.5MM 2MM 2. Basic price.60MM 0.5200 4600 * /MT.075/t FOB India this week. 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 ---.000 to Rs 41. Steel companies also want to achieve price parity with imported steel after implementing the cut. while they have not concluded any fresh deals for three weeks.2544 42 40 36 34 30 28 8850 7950 7050 6200 -.60MM 0.60MM 0.5MM 2. For cold rolled coils.3602 3439 MAHARASHTRA RAIPUR 11200 10450 -. according to the sources. “We got fewer enquiries than before and we gave our best offers for them. there is fear that delay in project clearances by the centre could hit demand even after the cut. Basic price.60MM 0. the realization is between Rs 40.500/MT for hot rolled coils.Rs 1.8276 --. said the head of research at an Indian brokerage. 11:35 Indian Steel companies are expected to cut prices in the range of Rs 1. The net sales realization of steel companies is anywhere between Rs 35.000 and Rs 35. Experts see this cut as a tactic to improve off take of inventory that has been piling up. An Indian producer with current output of about 4.4500 3600 PRADESH MOIL9986 -----. Ex-mines basic price.5MM 2MM 2.7300 6600 -. while they bargain for much lower price which left us no profit to achieve.38.5MM 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 0.5MM 2MM 2. we have reduced our output and only produce according to the orders.5MM 2. it is expected that the export market will remain soft throughout this year.000tpm of silicomanganese notes that the rates for silicomanganese 65/16 are at USD1.28. 15:52 Indian silicomanganese 65/16 export market continues the downward trend this week with export prices going down further.3342 -.10301 -. ED and taxes extra * /MT.40. 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.†added the source.32.34.5MM 2MM 2.60MM 0. Hence steel manufacturers are utilizing only one third to two thirds of their installed capacity. “Under the influence of world economic crisis. Given current global economic environment. ED and taxes extra Market Review Indian silico manganese export prices slip further 17-Nov-2011 .60MM 0.000/MT. However. Therefore. the demand from Europe and Japan has decreased and we expect the market will not rebound soon. a decrease of USD25/t against that of late last month.500/MT in the near future.8650 7800 6900 -. .com) Disclaimer Additional information is available upon request. From the recently achieved levels of .... objectives. price stable at lower level The CIS billet export market continues to be stagnate. Past performance is not indicative of future results. Page 5 .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 .steelmint. The recipient of this report must make its own independent decisions regarding any product or items mentioned herein.. Information has been obtained from sources believed to be reliable but SteelMint Info Services or its affiliates do not warrant its completeness or accuracy except with respect to any disclosures relative to SteelMint and/or its affiliates and the analyst’s involvement with the issuer that is the subject of the research. Indian share market also shed over 400 points on Monday.Daily Update Sector: Steel Date:21-November-2011 Industry News Steel futures trade low on weak global sentiments..com) Karnataka to extend time limit for Iron ore transportation The steel.com) Rupee weakens by 44 paise to 51. (Read full story at www. material and/or data presented or otherwise obtained through your use of the information in the document is at your own risk and you will be solely responsible for any damage to you personally or your company or organization or business associates whatsoever which in anyway results from the use.com) Spot Iron Ore falls by $4/MT.com) Iron Ore rake movement suspended in Odisha for exports The movement of wagons. expect prices to fall The rupee was down by 44 paise at Rs 51. reliance or application on such content material and/or data and/or information.com) CIS billet exports stagnant.steelmint. the largest trading company of India and a major trading company of Asia.. 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 .steelmint.Fe 63.steelmint. has remained suspended in iron ore rich Joda-Barbil area in Odisha since friday following agitation by truck . market conditions or any other publicly available information.78 per US dollar in early trade today which has made importers to stay away from ..com) Indian scrap importers stay calm on falling rupee. and any content.steelmint. Periodic updates may be provided on industry specific developments or announcements.steelmint.steelmint. (Read full story at www. Use of the information presented here is at your sole risk. (Read full story at www. (Read full story at www. preliminary .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.78/dollar The rupee was down by 44 paise at Rs 51. both empties and loaded.steelmint.steelmint.. first drop in 4 weeks. having failed to gain momentum on the back of recent modest strengthening. (Read full story at www.com) MMTC seeks 1.365MT imported coal India's MMTC. (Read full story at www.steelmint.. Opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice.365MT of imported .. The opinions and recommendations herein do not take into account individual client circumstances. (Read full story at www... or needs and are not intended as recommendations of particular products or strategies to particular clients. This material is not intended as an offer or solicitation for the purchase or sale of any item. Offer prices for Fe . corrects over Rs 400/MT Market for MS Ingot continued to show a downward trend on weak global sentiments.. has issued a term supply tender for 1. (Read full story at www.78 per US dollar in early trade today due to the pull-out of foreign capital from ...Ingot at .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... (Read full story at www... (Read full story at www. JSPL. Aditya Birla Group.950 USD 350 (access to all website. Tata Steels.semi-finished and finished products).containing current prices. Neco Group. 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Report "SteelMint Steel Report as on 22 Nov 11[1]"