Steel prices remain flat in thin trade

By Press Trust of India
New Delhi Feb 23, 2011, 15:57

Quiet conditions prevailed in the local steel and iron market today as prices continued to move in a limited range on restricted buying and settled around previous levels.

Traders said restricted buying activity against adequate stocks kept steel prices steady.

Following are today's quotations in Rs per tonne:

CTD saria (Kamdhenu) 8-mm 41,700, 10-mm 43,400, 12-mm 42,100, 16-25 mm 39,950

Saria Jai Bharat (ISO 9002) 8-mm 39,150, 10 mm 38,350, 12-mm 37,550, 16-25 mm 37,550

Amba saria (ISO-9002) 8-mm 38,000, 10-mm 37,300, 12-mm 36,700, 16-25-mm 36,500

Amba shakti: (TMT) 8-mm 37,000, 10 mm 36,000, 12 mm 35,400, 16 to 25 mm 35,200

M S Angle: (50x5) (50x6) 33,000, (40x5) (40x6) 33,500

Angle capital (ISI) (40X5) (40x6) 36,900, (35X5) (65X6) 33,900

Garder (joist) (150x75) 33,500 (175x85) 32,500 (200x100) 33,300 (125x70) 33,600

T-IRON (40X5)(40X6)(50X6) 33,500

(sourced:business standard)

Price hike by Indian steel majors in offing on February opening

Monday, 31 Jan 2011

BL reported that on the backdrop of rise in iron ore and coking coal prices, Indian steel companies are set to hike prices by INR 1,000 to INR 1,500 a tonne in February.
As per report, some of them such as TATA Steel, JSW Steel and Essar Steel have hinted at a possible increase, there has been no reference to the quantum of the hike.

The report cited Mr Vikram Amin director sales & marketing as saying that “If domestic prices are higher, there is always a chance of cheap imports. At present, international prices are higher.”

Mr Jayant Acharya director sales & marketing of JSW Steel said that costs of raw materials have jumped substantially in the last few months and as a result, steel prices have had to move in tandem with input costs.(sourced:BL)

JSPL sees stable steel prices in India in near term

Monday, 17 Jan 2011

BS reported that some of the Indian steel majors feel that the price of steel is likely to remain stable in the near term as chances of oscillation of its raw materials' cost are unlikely.
Mr Sushil Maroo CFO of JSPL said that "The price of coking coal is now hovering at around USD 275 per tonne. I don't think it will go up to USD 300 a tonne. Iron ore is also stable now. Hence, I don't see steel price going up in the near term.”
Sourced from Business standard