Industrialists have increased the prices of steel commodities for the month of Feb, 2014 eyeing improved domestic and global demand.
Prices of steel commodities and alloys all over India have increased for the month of Feb, 2014 because of increasing exports and domestic &global demand for products. Steel 360 has noted the price change for the month under review by major companies across India.
Structure: Offers in Central India are increased in the range of INR 200-500/MT for the month of Feb, 2014. Companies such as MSP Steels of Raigarh, Sarthak Ispat of Raipur and Grace Castings of Ahmadabad have increased their structure offers by INR 200-300/MT. In North India, Structure prices have increased in the range of INR 500-600/MT for Feb, 2014. According to the traders, increased prices are an effect of hike in Ingot/Billet prices across India.
Re bar: Increased Ingot/Billet prices have also led to increase in Re-bar all across India. Major steel giants such as SAIL, JSW Steel, Tata Steel and RINL have increased their Re-bar offers in the range of INR 500-1000/MT.
Flat Steel: Prices are up by INR 500-700/MT in some parts of India. SAIL has increased its Flat Steel prices by INR 650/MT. Price in Ludhiana ranges between INR 500-650/MT high, while in Hyderabad at INR 700/MT.
Billet: prices in India improved by INR 700-1500/MT owing to higher exports. Exports were mainly from Rourkela and Durgapur to the neighboring countries such as Nepal and Bangladesh.
Meanwhile, exports have also affected prices of Ferro Alloys ion the domestic market of the country. Manganese Ore India (MOIL) has increased it prices by 3-7 percent in India for Q4 FY14. Orissa Manganese & Minerals Limited (OMML), a subsidiary of Adhunik Metaliks has also increased its prices by INR 500/MT for Feb, 2014. Price range of Manganese ore across India is between INR 9000-14000/MT. Silico Manganese prices are also up by INR 500/MT owing to its increased demand in domestic and global market.
Increased exports and domestic demand for steel commodities and alloys in India have bought development of steel and mining industry of the country. 2014 hopefully awaits a bright future growth possibility for the country’s industrialists.