Iron ore exports via Vizag port rise mom in April - Mjunction

STEEL PRODUCTS & PRICE TRENDWorld crude steelproduction falls 3.03%m-o-m in AprilISMWWorld crude steel production for the 62 countries reporting to the WorldSteel Association (WSA) fell 3.03% in April to 128 million tons (mt)from the record 132 mt produced in March on moderate decline in productionregistered by leading countries like China, Japan, India and most of the EuropeanUnion countries.Production in April was 1.2% higher compared to April 2011.China’s crude steel production for April 2012 was 60.6 mt, an increase of2.6% compared to April 2011, but lower than 61.6 mt produced in March.Elsewhere in Asia, Japan produced 9.1 mt of crude steel in April 2012, upby 7.6% compared to the same month last year, but down 2.15% from 9.3 mtproduced in March.South Korea’s crude steel production for April 2012 was 6.0 mt, an increaseof 2.1% compared to April 2011 and same as March 2012.In the EU, Germany produced 3.6 mt of crude steel in April 2012, a decreaseof 5.5% on April 2011 and a decrease of 7.69% over 3.9 mt produced in March.Italy’s crude steel production for April 2012 was 2.4 mt, down by 3.2% on April2011 and 11.11% from 2.7 mt produced in March.Crude steel productionWorld Steel capacity utilisation ratioContd. on next PgIndia Steel Market Watch 2May 23, 2012

STEEL PRODUCTS & PRICE TRENDContd. from previous Pgof HR coils in CIS fell by 10% to $672/ton in March 2012 from a high of $748/ton quoted in April 2011.The average domestic price of HR coils in the US fell by 19% to $695/ton from $860/ton while the prices fell by 14%in Southern China to yuan 4274 from yuan 4960/ton in April 2011.The rebar prices, according to the compilation, remained comparatively stable in the CIS and US markets during theperiod, but fell by a staggering 17% in Southern China to yuan 4438/ton in March 2012 from a high of yuan 5345/tonquoted in April 2012.Month Billets 100 mm Wire Rod (8 mm) TMT (10 mm) HR Coils (10 mm) CR Coils (0.63 mm)Apr-11 37360 44230 43310 43020 48380May-11 37300 44230 43310 43020 48380Jun-11 38160 45280 44010 43120 47580Jul-11 37960 44760 44180 43020 47580Aug-11 38080 45110 43870 43210 48500Sep-11 37680 45110 43870 43210 49180Oct-11 38200 45980 44710 43370 48980Nov-11 38760 44380 45700 47340 51360Dec-11 38960 44730 46370 47430 51960Jan-12 39010 45080 46790 47530 52360Feb-12 39510 45450 46790 47550 51680Mar-12 39810 45800 47670 47630 52040Indicative price in Delhi inclusive of transportation, taxes and dutiesAverage price of Hot Rolled Coils in some key global markets during April 2011 and March 2012MarketUnitApr-11Mar-12Price Range Average Price Price Range Average Price% Change in $ % change in RsCIS Domestic $/tn 740-755 $748 (Rs 33092) 656-688 $672 (Rs 34178) (-)10 3US Domestic $/tn 860-860 $860 (Rs 38046) 695-695 $695 (Rs 35348) (-)19 (-)7Southern China Domestic yuan/tn 4950-4970 yuan 4960 (Rs 33778) 4268-4280 yuan 4274 (Rs 34534) (-)14 2EU Domestic Euro/tn 550-560 Euro 555 (Rs 36358) 550-560 Euro 555 (Rs 37673) 0 4Average price of Rebar in some key global markets during April 2011 and March 2012MarketUnitApr-11Mar-12Price Range Average Price Price Range Average Price%change in $ % change in RsCIS Domestic $/tn 670-690 $680 (Rs 30083) 614-728 $671 (Rs 34127) (-)1 13US Domestic $/tn 765-765 $765 (Rs 33844) 760-760 $760 (Rs 38654 (-)1 14Southern China Domestic yuan/tn 5230-5460 yuan5345 (Rs 36399) 4328-4548 yuan 4438 (Rs 35859) (-)17 (-)1EU Domestic Euro/tn 500-510 Euro 505 (Rs 33083) 545-565 Euro 555 (Rs 37673 9.9 14CR products importsvia Kandla port at18,887 tons in AprilISMWCR products imports via Kandla port during April 2012 stood at 18,887 tons,down 32.76% from 28,093 tons of the material imported in April 2011,according to provisional data available with ISMW.Out of the total quantity of CR products imported in April 2012, 3571 tonscame from Japan at a price band of Rs.42616/ton-Rs.71365/ton, 14930 tonscame in from Republic of Korea within a price band of Rs.36033/ton-Rs.54540/ton, 64 tons came from Malaysia at an assessed average price of Rs.59873/tonwhile the remaining 323 tons came from Vietnam at a price band of Rs.39904/ton-Rs.41952/ton.However, during March 2012, total import of CR products via Kandla portstood at 9661 tons, as per the available data.India Steel Market Watch 11May 23, 2012

STEEL PRODUCTS & PRICE TRENDStainless steel exportsvia Vizag port fallm-o-m in AprilISMWStainless steel exports out of Vizag port fell to 6,791 tons in April as comparedto 8,332 tons in March as per information available with ISMW.Indonesia was the destination accounting for most of the exports duringApril (5020 tons) followed by 729 tons going to South Korea and 561 tons toBelgium. Vietnam and Italy were some of the other countries to which stainlesssteel was exported.In March also, Indonesia was the major destination country to which 5662tons of the product got exported followed by 1112 tons from Vietnam. SouthKorea, Italy and Malaysia were some of the other countries to which the productgot exported.The average unit price of hot rolled stainless steel product in April stood ataround Rs 101,985/ton while that in March was recorded at around Rs 87,300/ton.Wire and wire rodsimports via Vizag portsharply up m-o-m inAprilISMWImports of wires and wire rods via Vizag port surged and stood at 3,822 tons inApril 2012 as compared to 306 tons in March, according to provisional dataavailable with ISMW as on May 11.Out of the entire quantity imported, around 3137 tons came in from Chinafollowed by 608 tons from Canada and 77 tons from Italy. However, duringMarch 2012 the total material imported, came from Canada.In April this year, the average import price of the product stood at around Rs45,549/ton while the entire quantity of wires and wire rods imported in March2012, came in at an assessed price of Rs 34,626/ton.During April 2011, import of wires and wire rods through the port stoodmuch lower at around 150 tons.Long product importsvia Mangalore fallm-o-m in AprilISMWAround 40 tons of long products including bars, rounds and angles came inthrough Mangalore port in April, much lower than 85 tons of the productimported in March, according to information available with ISMW.The entire quantity during both the months came in from Italy.The average import price of long products in April stood at around Rs65,973/ton much higher than the average import price in March stood at aroundRs 65,003/ton.HRC (NA) export viaMormugao port risem-o-m in AprilISMWExports of hot rolled non alloyed coils rose in April by almost 19% to 43,566tons as compared to 36,608 tons exported in March this year, according toinformation available with ISMW on May 9.Out of the entire quantity exported out of the port in April, around 35,783tons was destined for Belgium while the remaining 7,783 tons went out forSpain. In March, most of the product went to Spain (16,322 tons) followed by13,029 tons for UAE and 7045 tons for Belgium. Also, a small amount of 212tons was exported to France.The average export price of HRC (NA) in April stood at around Rs 33,541/ton while in March the average export price was lower at around Rs 31,694/ton.India Steel Market Watch 14May 23, 2012

STEEL PRODUCTS & PRICE TRENDStrips import viaMumbai port at 3.6tons in AprilISMWvery small quantity of 3.6 tons of strips was imported through the MumbaiA port in April 2012, as per provisional information available with ISMW.As per data, no strips came in through the port in the previous month ofMarch.During the same month last year, however, import of strips stood at1,403 tons. Both in April 2011 and 2012, the entire quantities came in fromChina.In April 2012, the average unit price of the imported product stood at Rs154,986/ton. In April 2011, a single consignment of the product came in at aprice of Rs 38,589/ton.EG coils import viaMormugao port risem-o-m in AprilISMWCRGO (alloy) importvia Mumbai dropsm-o-m in AprilISMWHRC (NA) import viaMumbai drops sharplym-o-m in AprilISMWAlmost 8 tons of electro galvanised coils having a thickness of 2 mm camein through Mormugao port in April 2012, much lower than 27 tons ofthe product that came in during the previous month, according to informationavailable with ISMW on May 7.During both April as well as March, Taiwan was the sole country from wherethe product came in.In April 2011, around 24 tons of the product came in from Taiwan at anaverage import price of Rs 52,435/ton.In April 2012, the average import price of EG coils stood at around Rs 54,358/ton much lower than average price of Rs 52,271/ton at which the product camein during March 2012.Import of cold rolled grain oriented (alloy) through Mumbai port stood at1,360 tons in April 2012, dropping marginally against 1,605 tons in March2011, as per provisional information with ISMW.During both the months, the entire quantity came in from the Republic ofKorea.The average unit price of the product stood at Rs 128,033/ton in April 2012,higher than Rs 116,356/ton in March.Import of non-alloy hot rolled coil products via Mumbai port stood at 19,707tons in April 2012, dropping sharply from 96,162 tons in the previous month,as per provisional information available with ISMW.During the same month last year, the import of HRC (NA) stood at 19,303tons.In April 2012, out of the total quantity, the highest quantity of 17,232 tonscame in from Iran. Japan, Korea, Russia and UAE are the other countries fromwhere the product came in. In March 2011, 57,160 tons came in from Franceand 25,145 tons came from Iran. Small quantities also came in from Belgium,Japan, Korea and UAE.The average unit price of the product stood at Rs 35,384/ton in April 2012against Rs 32,305/ton in March and Rs 33,134/ton in April 2011.India Steel Market Watch 16May 23, 2012

STEEL PRODUCTS & PRICE TRENDContd. from previous Pg3-Jan-12 HR Plate (AMG) 27,8339-Jan-12 HR Plate (AMG) 30,85013-Jan-12 HR Plate (AMG) 29,10019-Jan-12 HR Plate (AMG) 31,0257-Dec-11 HR Plate (AMG) 30,14414-Dec-11 HR Plate (AMG) 30,70021-Dec-11 HR Plate (AMG) 32,20028-Dec-11 HR Plate (AMG) 29,6632-Nov-11 HR Plate (AMG) 32,5909-Nov-11 HR Plate (AMG) 28,77516-Nov-11 HR Plate (AMG) 28,40023-Nov-11 HR Plate (AMG) 31,37530-Nov-11 HR Plate (AMG) 28,68029,702 -3.18%30,677 2.38%29,964 -1.41%Defective HR coilattract high prices ine-auctionISMWThe price realisation for defective DD HR pickled coil rose in the e-auctionconducted by metaljunction.com for material from Jharkhand in April ascompared to March, according to information available with ISMW.Average realised price rose by 2.29% to Rs 33,777/ton in March as comparedto Rs 33,021/ton in March 2012. Booked quantities fell to 1077 tons in Marchas compared to 2179 tons in March. In February, the same stood at 1425 tons.Following are the details of offers for the same product from Nov 2011:Date Product Price (Rs.) Avg. Price % Change4-Apr-12 Def. DD HR pickled coil 33,35011-Apr-12 Def. DD HR pickled coil 34,30018-Apr-12 Def. DD HR pickled coil 33,72533,777 2.29%25-Apr-12 Def. DD HR pickled coil 33,7337-Mar-12 Def. DD HR pickled coil 33,71314-Mar-12 Def. DD HR pickled coil 32,30019-Mar-12 Def. DD HR pickled coil 32,58333,021 0.94%23-Mar-12 Def. DD HR pickled coil 33,17528-Mar-12 Def. DD HR pickled coil 33,3331-Feb-12 Def. DD HR pickled coil 32,5508-Feb-12 Def. DD HR pickled coil 32,32515-Feb-12 Def. DD HR pickled coil 32,86732,712 -1.99%22-Feb-12 Def. DD HR pickled coil 32,95029-Feb-12 Def. DD HR pickled coil 32,8679-Jan-12 Def. DD HR pickled coil 33,87513-Jan-12 Def. DD HR pickled coil 33,45019-Jan-12 Def. DD HR pickled coil 32,72533,375 6.91%25-Jan-12 Def. DD HR pickled coil 33,4507-Dec-11 Def. DD HR pickled coil 31,10014-Dec-11 Def. DD HR pickled coil 30,23821-Dec-11 Def. DD HR pickled coil 30,48331,218 -0.19%28-Dec-11 Def. DD HR pickled coil 33,0502-Nov-11 Def. DD HR pickled coil 33,8509-Nov-11 Def. DD HR pickled coil 31,15016-Nov-11 Def. DD HR pickled coil 29,75031,278 -5.03%23-Nov-11 Def. DD HR pickled coil 30,51330-Nov-11 Def. DD HR pickled coil 31,125India Steel Market Watch 18May 23, 2012

STEEL PRODUCTS & PRICE TRENDSteel Secretaryinaugurates newfacilities of RINLISMWRINL completes trialsfor new continuousbillet casterISMWRINL files DRHPISMWSteel secretary D.R.S. Chaudhary inaugurated the Caster Shop in New SteelMelt Shop (SMS2) and Air Separation Unit (ASU4) of Rashtriya IspatNigam Limited’s (RINL) Vizag Steel Plant last week. A RINL release said onMay 14 that the Caster Shop And ASU4 were a part of company’s 6.3 milliontons per annum expansion plan and were built at a cost of around Rs 800 crore.Chaudhary advised the RINL management to fully capitalise on theadvantages of the coastal location of the plant. He also advised the company toset up a captive jetty in order to take full advantage of material logistics.Chaudhary mentioned that proposed listing of RINL shares will be a gainnot only to the company, but also to the government. He allayed the fears thatdisinvestment of of 10% shares in RINL will lead to privatization and addedthat it would in fact enhance corporate governance.Rashtriya Ispat Nigam Ltd (RINL) has completed hot trials on a newcontinuous billet caster, the latest element of its major expansion plan,according to industry sources.To secure outlets for the additional production the plant’s owner, RINL, isseeking to establish toll-rolling arrangements with independent mill operators.The new caster can produce billets of 150mm and 200mm square at a speedof up to 4.0 metres/minute. It adds 1m tons/year to the works’ productioncapacity. The Visakhapatnam plant has almost completed a project to increasecrude steel capacity from 3 million tons/year to 6.3 million tons/year.The Rashtriya Ispat Nigam Ltd (RINL) on May 21 filed the draft red herringprospectus (DRHP) papers with the Securities and Exchange Board ofIndia (SEBI) for dilution of government’s 10% stake in the company. On May2, ISMW had reported, quoting an industry source, that RINL will file DRHPwithin the first two weeks of May and the IPO may hit the market in June.RINL was accorded ‘Navrtana” status by the government on November 16,2010 and one of the conditions for grant of the status was that the company willhave to get listed on the stock exchange within two years of grant of the status.The Navratna status to RINL would stand automatically withdrawn in casethe company is not listed within the prescribed time period. The governmentof India has approved Disinvestment of RINL holdings by Initial Public Offer(IPO) for sale of 10% equity, out of Government of India’s 100% shareholding.An official of Ministry of Steel said the Department of Disinvestment,Ministry of Finance has appointed the Intermediaries to the IPO and theCompany has appointed Auditors to the IPO. The Intermediaries have startedthe process of due diligence and preparation of draft Offer Documents, theofficial said, adding, the Auditors have started the process of restatement offinancial statements. The company has already appointed four merchant banks– UBS Securities, Edelweiss Capital, Deutsche Bank, and IDBI Capital – tomanage the issue, the source said.Currently wholly state-owned, RINL is working on a major expansion planfor its steelworks at Visakhapatnam. It is currently completing work to enlargecrude steel capacity to 6.3 million tons/year from 3 million tons/year. The currentfinancial year should see the start of a much larger project to raise capacity to 11.5million tons/year. RINL is also intending to broaden its product range by installinga seamless tube mill, and is considering a move into flat rolled products too.Currently the plant produces semi-finished billets and blooms, as well aslong rolled products including sections, wire rod and bars.India Steel Market Watch 27May 23, 2012

STEEL PRODUCTS & PRICE TRENDICVL in final stages ofacquiring coal block inAustraliaISMWSAIL signs strategicMoU with Mongolianmines ministryISMWProgress on Indianprojects still slow:ArcelorMittalISMWInternational Coal Ventures Ltd (ICVL) has submitted a price bid to acquire acoking coal block in Australia, industry sources familiar with the developmenttold ISMW.“ICVL has identified the property and after due diligence has submitted aprice bid, which is slightly on the higher side,” the sources claimed.ISMW, however, could not obtain any further detail from the sources.ICVL is a joint venture company of set up by the mandate of governmentof India with SAIL, Coal India Ltd, RINL, NMDC and NTPC as its promotercompanies. The joint venture is actively scouting for coal assets in targetcountries such as Australia, New Zealand, Mozambique, Indonesia, Canada andUSA.Steel Authority of India Limited (SAIL) signed a Memorandum ofUnderstanding (MoU) with the Ministry of Mineral Resource & Energy(MMRE) of the Government of Mongolia at Ulaanbaatar, Mongolia forexploring business opportunities in the mining and steel sector.The MoU was signed by H.E. Balkhuu Bataa, Director (Mining & HeavyIndustry), Policy Dept., Govt. of Mongolia, on behalf of MMRE and RakeshKulshreshtha, SAIL Executive Director (Corporate Planning), in the presenceof SAIL chairman C.S. Verma, Joint Secretary, Ministry of Steel U.P. Singh andother delegates from India and Mongolia.Verma said that SAIL is happy to be a partner in Mongolia’s economicdevelopment, and commended the Mongolian government for its initiatives indeveloping its mining sector, which will serve to be ‘’crucial drivers of FDI’’ for thecountry, while also meeting the mineral needs of India and other Asian economies.MMRE Vice-Minister Ms Ts Garamajav termed the MoU as a welcome stepin cooperation between the two countries and hoped that joint feasibility reportcould help Mongolia set up a mineral processing industry.As per the MoU, MMRE will provide information on iron ore and coaldeposits in Mongolia to SAIL and will offer options of locations and size ofsteel manufacturing facility for pre-feasibility study. A joint pre-feasibility studyfor setting up of mineral processing facility for iron ore and coal, both cokingand thermal, in Mongolia, and downstream steel making facilities for domesticconsumption and trade, will be taken up by MMRE and SAIL.SAIL, on the other hand, will select the best available technology to treatMongolian iron ore and coal deposits based on the feasibility study. The MoUenvisages exploration of opportunities for investments to be made by SAILeither individually or in a consortium with other entities to develop mineralprocessing/ steel manufacturing facility in Mongolia.ArcelorMittal’s chairman and CEO, Lakshmi Mittal, said he sees littleprospect of the company’s Indian projects making progress in the next fewyears. The projects are still receiving regulatory approvals, Mittal said, addingthat progress on the acquisition of land remains slow.According to media reports, Mittal had told shareholders at ArcelorMittal’sshareholders conference held recently that the company’s Indian projects mightnot be completed for five to 10 years.Contd. on next PgIndia Steel Market Watch 29May 23, 2012

STEEL PRODUCTS & PRICE TRENDContd. from previous PgIndia needs to expand its infrastructure and basic commodities productioncapacity, Mittal said, adding that the fast growing India market remainedattractive. Mittal noted that unusually for a developing economy, apparent steeldemand in India had lagged below real GDP growth at the beginning of 2012.The country needs to accelerate its approvals process, so projects can takeoff, Mittal added.ArcelorMittal has two projects for 12 million ton/year integrated works,located in Jharkhand and Odisha. The group also has plans for a 6 million ton/year integrated steelworks in Karnataka.Tata Steel’s FY12 PATfalls 40%ISMWTata Steel Group Ltd on May 18 reported 40% decline in its profit aftertax during the financial year 2011-12 at Rs 5,390 crore ($1.06 billion)compared to a profit of Rs 8,983 crore ($1.77 billion) in 2010-11.The company said in a release that its EBITDA in 2011-12 was Rs 13,533crore ($2.66 billion), down 20.93% compared to Rs 17,116 crore ($3.36 billion)in 2010-11.The turnover during the year stood at Rs 1,32,900 crore ($26.13 billion) up11.9% compared to 1,18,753 crore ($23.34 billion) in 2010-11.The Group’s steel deliveries in FY12 fell marginally by 1.1% to 24.22million tons (mt) compared to 24.50 mt in FY11. The net debt at the end ofMarch 2012 increased slightly to Rs 47,697 crore ($9.38 billion) compared toRs 46,660 crore ($9.17 billion) at the end of March 2011.During the fourth quarter of 2011-12, the Tata Steel Group’s profit after taxstood at Rs 433 crore ($85 million) compared to a loss of Rs 603 crore ($118million) in Q3 of FY12 and a profit of Rs 4,176 crore ($821 million) in Q4 ofFY11.The group EBITDA in Q4 of FY12 was Rs 3419 crore ($672 million)compared to Rs 2023 crore ($398 million in Q3 of FY12) and Rs 4782 crore($940 million) in Q4 of 2010-11.The analysts had expected Tata Steel to report 42.4% fall in EBITDA onaccount of higher raw material cost, mainly in its European operations.Consolidated turnover during the fourth quarter stood at Rs 33,999 crore($6.68 billion), up 2.7% from Rs 33,103 crore ($6.51 billion) in third quarter of2011-12 and by 0.5% from Rs 33,824 crore ($6.65 billion) in Q4 of 2010-11.Broking firm, Angel Broking, had expected the company to report 1.1%fall in fourth quarter net sales on account of lower volumes from its Europeanoperations.Turnover at Tata Steel India in FY12 increased by 15.4% to Rs 33,933crore ($6.67 billion) from Rs 29,396 crore ($5.78 billion) in FY11 while fourthquarter sales of Rs 9,479 crore ($1.86 billion) were up 13.7% from Rs 8,341crore ($1.64 billion) in Q4 of 2010-11 and up 13.1% from Rs 8,382 crore ($1.65billion) of Q3 of 2011-12.The turnover in Tata Steel Europe in 2011-12 increased to Rs 82,153 crore($16.15 billion) from Rs 73,844 crore ($14.52 billion) in 2010-11 while fourthContd. on next PgIndia Steel Market Watch 30May 23, 2012

STEEL PRODUCTS & PRICE TRENDTata Metaliks postsloss of Rs 135.24crore in FY12ISMWTata Metaliks Limited, one of the leading Tata group companies, has posted aloss of Rs 135.24 crore in 2011-12 as compared to a loss of Rs 20.93 crorein 2010-11, the company said in a statement.During 2011-12, total income from operations stood at Rs 1226.23 croreagainst Rs 1345.35 crore in 2010-11.Total expenses of the company stood at Rs 1389.14 crore as compared to Rs1336.12 crore in 2010-11, the statement added.Tata Sponge net profitdips 25.33% in FY12ISMWTata Sponge Iron Limited has posted a net profit of Rs 75.68 crore in 2011-12, down 25.32% as compared with Rs 101.34 crore earned during theprevious fiscal, the company said in a filing to BSE.Net sales of the company during the year stood at Rs 633.94 crore ascompared to Rs 683.12 crore during the year ended March 31, 2011.However, total expenditure of the company stood at Rs 520.96 crore in 2011-12 while the figure stood at Rs 526.07 crore during 2010-11.Steel ministerexpresses concernover SAIL’sperformanceISMWThe minister for steel, Beni Prasad Verma, has expressed concern over theperformance of Steel Authority of India Ltd (SAIL) in 2011-12, saying it isnot up to the mark and needs improvement.The remarks by the minister came during the review of annual performanceof SAIL on May 21.The minister noted that the health of coke oven batteries is affecting theoverall performance of the company and advised it to carry out various scheduledrepairs/replacement of the batteries within the specified timeframe.The minister further advised SAIL to draw stricter timelines for expeditiouscompletion of ongoing expansion projects.Three in fray forKIOCL’s mining andbeneficiation assetsISMWKIOCL Limited, a government of India enterprise, which had invitedtenders for selling off the mining and beneficiation equipment of theore upgradation unit at Kudremukh has received bids from three companies-Annam Steels Private Limited, Kerala Steel Associate and S.R Buildcon PrivateLimited, a senior official of the company told ISMW on May 22.“This plant was established in 1978 but due to some environmental reasons,we had to stop operations of this plant. Hence, our management has decided tosell it off as a package and on a ‘as is where is no complaint’ basis,” he said.“We are expecting to sell off this plant at the current market value withoutincurring any loss. We have placed the name of Chennai based Annam Steelsbefore the board as the probable buyer. Once it gets cleared by the board, thedeal will be finalised,” he further added.However, the official did not want to comment on the highest price quotedfor purchase of the plant by the prospective buyers.KIOCL was forced to stop mining and operations at its beneficiation plant inKudremukh hills following a Supreme Court order.India Steel Market Watch 33May 23, 2012

STEEL PRODUCTS & PRICE TRENDIMFA profit dips 62%in FY12ISMWSesa Goa reports20.5% fall in Q4 netprofitISMWIndian Metals & Ferro Alloys Limited (IMFA) has posted a net profit of Rs61.63 crore during 2011-12, down 62% as compared to Rs 162.24 croreearned during 2010-11, the company said in a filing to NSE.Total income from operations stood at Rs 1192.73 crore during 2011-12 asagainst Rs 1068.04 crore earned during the year ended March 31, 2011.The company had incurred a total expenditure of Rs 1021.30 crore in 2011-12 against Rs 772.69 crore in 2010-11.Vedanta group firm Sesa Goa reported a decline of 20.50% in its consolidatednet profit at Rs 1,162.11 crore for the quarter ended March 31, 2012, due toa slew of reasons like lower volumes, higher export duty and higher interest cost.The company had reported a net profit of Rs 1,461.76 crore during thecorresponding quarter of 2010-11. During the period under review, net salesof the company were also down by 22.59% to Rs 2,791.37 crore vis-a-vis Rs3,605.92 crore reported during the same period of FY11, it said in a BSE filing.The Goa-based iron ore miner said in a separate statement that it has receivedapprovals of BSE, NSE and Competition Commission of India for the proposedmerger of Sterlite Industries and other Vedanta group companies into it.“The application of the company before the Foreign Investment PromotionBoard is pending consideration,” Sesa Goa said, adding that it has also soughtapproval of the relevant courts for the proposed merger.The company has also accounted Rs 465.80 crore for its 20% stake in CairnIndia, that was acquired last year for Rs 13,075 crore, it said.During the fourth quarter, Sesa Goa’s cash profit declined by 51% to Rs1,110 crore, while for the entire fiscal, it was lower by 43% to Rs 3,235 crore.“The profit was lower on account of lower volume, higher export duty,reduced income from investments on account of lower cash balance, higherinterest cost and foreign exchange losses,” the company said.For the full year 2011-12, Sesa Goa’s net profit was down by 36% to Rs2,695.50 crore, while its net sales declined by 10% to Rs 8,274.53 crore.Production of iron ore in Q4 was lower by 11% at 4.9 million tons (mt).Production for the full year was 13.8 mt compared with 18.8 mt in the previousyear. Volumes were lower primarily due to the Karnataka mining ban anddiscontinuation of Orissa operations.Expansions of the pig iron capacity to 625 ktpa and metallurgical cokecapacity to 560 ktpa are progressing well and will be commissioned in thecurrent quarter, it added.S. Sekhar takes chargeas ED of Bokaro SteelPlantISMWS. Sekhar on April 25 took over as executive director of Bokaro Steel Plant ofSteel Authority of India Ltd (SAIL) in place of Y.K. Degen, who has beentransferred to Bhilai Steel Plant in the same post.Sekhar had started his career with Bhilai Steel Plant in 1977 after completingMechanical Engineering and was promoted as general manager in 2007.In April 2011, he was promoted as executive director of Rourkela SteelPlant and was transferred to Bokaro Steel Plant as Executive Director (materialmanagement) in January 2012.India Steel Market Watch 34May 23, 2012

STEEL LOGISTICS & OTHER DEVELOPMENTSM&M Ltd auto salesup 27% in April y-o-yISMWMaruti April salesrises 3.4% y-o-yISMWIndia’s April inflationat 10.36%ISMWMahindra & Mahindra Limited (M&M Ltd), a part of the Mahindra Group,recorded a 27% increase in auto sales during the month of April 2012,which stood at 40,719 units against 32,090 units sold during April 2011, thecompany said in a statement.The company’s domestic sales stood at 39,299 units during April 2012, asagainst 30,349 units during April 2011, an increase of 29%.“We are happy to have achieved a growth of 27% during the first month ofthe new financial year. We are particularly encouraged by the success of all ourbrands especially Bolero which figures in the top 10 selling passenger vehiclesin India. Going forward, we will continue to work towards maintaining thisgrowth momentum,” said Pravin Shah, Chief Executive, Automotive Division ofMahindra & Mahindra Ltd while speaking on the performance of the company.Maruti Suzuki India Limited has sold a total of 100,415 vehicles (including10,160 units for export) in April 2012, recording a rise of 3.4% in salesfrom 97,155 vehicles sold during the corresponding month of the previous year,the company said in a statement.However, Maruti Suzuki India’s export surged by 1.5% in April 2012 to10,160 units from 10,011 units in the year-ago period, the company statementsaid. Maruti Suzuki’s total sales in 2011-12 stood at 1,133,695, the statementadded.India’s annual inflation rate based on all India general combined ConsumerPrice Index (CPI) for April 2012 on point to point basis (April 2012 overApril 2011) stood at 10.36%, Minister of State for Statistics and ProgrammeImplementation said. The corresponding inflation rates for rural and urban areasstood at 9.86% and 11.10%, he said.The provisional annual inflation rates of April 2012 for rural, urban andcombined in respect of ‘food and beverages’ stood at 9.87%, 10.69% and 10.18%respectively whereas all India general (all groups) CPI numbers for April 2012 forrural, urban and combined stood at 118.1, 116.1 and 117.2 respectively, Jena said.India Steel Market Watch 37May 23, 2012

IRON ORE & METALLIC’SContd. from previous Pg“Not only there is not much iron ore left that is to be auctioned under theguidance of monitoring committee, the quality available too is coming downconsistently. Instead of 63-65% Fe grades of fines that were available in earlierauctions, the material which were offered in recent auctions were of 50-55% Fegrades,” he said.On May 8, ISMW had reported that MSTC Ltd, a government of Indiaenterprise, on behalf of monitoring committee appointed by Supreme Court,will sell around 1.7 million tons (mt) iron ore fines, iron ore lumps and run-ofmineiron ore on May 11 and May 15 through e-auction route.Only actual users of iron ore like steel plants, pig iron plants, pelletisationplants, sponge iron plants and beneficiation plants were able to participate inthe auction.As per the terms and conditions of the e-auction, no middlemen or traderswere allowed to participate in the e-auction and the export of material to be soldthrough the auction will not be permitted.All steel makersin India to getpreferential allocationof iron ore reservesISMWAll steel makers that were in existence as on July 1, 2006 will have sufficientallocation of iron ore reserves once the Mines and Minerals (Developmentand Regulation) Bill, 2011 (MMDR) is approved by the Parliament, MinesMinister Dinsha J. Patel has said.“The government had accepted the recommendation of the Hoda Committeeand suitable provisions to allow preferential weightages for existing units withfinished products production capacity or with industrial capacity based onminerals have been provided in the MMMDR Bill introduced in the Lok Sabhain December 2011 and presently referred to the Standing Committee on Coaland Steel,” Patel said in a written reply in Lok Sabha.A high level committee set up in the Planning Commission under thechairmanship of Anwarul Hoda, in its report, had recommended that steelmaking capacities already in existence on July 1, 2006 and that do not havecaptive mines may be given preferential allocation of adequate iron ore reserveswithin the state without the need to go through the process of tender/auction asa one-time measure to provide a level playing field, he said.In reply to another query, Patel said the government does not propose tocreate marketing facilities for iron ore fines.Patel informed that the total domestic consumption of iron ore fines as apercentage of total iron ore fines produced stood at 37%, 34% and 50% in theyear 2008-09, 2009-10 and 2010-11 respectively.“Iron ore fines if not disposed and stacked properly has the potential to leadto environmental hazards apart from restricting further mining of iron ore,” headded.Meanwhile, the Steel Minister, Beni Prasad Verma, on May 7 said thataccording to information available with Ministry of Steel, Steel Authority ofIndia Limited (SAIL) in the public sector and Tata Steel, Jindal Steel & PowerLimited, Lloyd Metals & Engineers Limited, Usha Martin Limited, Jindal SawLimited, Jayaswal Neco Industries Limited, Ispat Industries Limited, in theprivate sector are the major iron and steel companies, which have been allocatedcaptive iron ore mines by the concerned State Governments.India Steel Market Watch 40May 23, 2012

IRON ORE & METALLIC’SContd. from previous PgHe said the amount of net profit earned by NMDC during last three years andthe royalty paid to the state governments including Chhattisgarh are given below:India’s iron ore exportto China falls sharplyin FY12ISMWYearNet profit (in Rs crore)2008-09 4372.382009-10 3447.262010-11 6499.22The minister said the net profit of the NMDC is after taking into accountappropriations, provisions, taxation, etc., hence net profit earned from differentstates cannot be quantified as net profit is calculated for the company as a whole.Royalty paid by iron ore projects (cash basis)(in Rs crore)Year Chhattisgarh Karnataka2008-09 48.18 11.132009-10 261.17 50.362010-11 751.59 87.952011-12(till Dec. 2011) 636.27 83.74India’s export of iron ore to China in 2011-12 (up to February) fell sharply,while export of finished steel increased significantly, a provisional documentof the steel ministry said.India exported a total of 52.47 million tons (mt) of iron ore in 2011-12(April-February) to China, which was 41.52% lower than the export of 89.72mt in 2010-11 (April-March), the document said.The export of finished steel on the other hand jumped to 0.067 mt in 2011-12(April-March) from a low of 0.008 mt in 2010-11 (April-March), it said.Following is the detail of iron ore and finished steel export to China from2007-08 to 2011-12 (in million tons):Year Export of Iron Ore to China Export of Finished steel to China2007-08 91.98 0.0172008-09 97.84 0.0292009-10 109.3 0.0452010-11 89.72 0.0082011-12 (Provisional) 52.47 (up to Feb, 2012) 0.067Iron ore exports viaVizag port rise m-o-min AprilISMWIron ore handling atNew Mangalore portfalls m-o-m in AprilISMWIron ore exports out of Vizag port rose by almost 13% to 316,342 tons in Aprilas compared to 279,999 tons in March, according to information availablewith ISMW, as on May 11. During both the months under consideration Chinawas sole country to which iron ore fines was exported out of the port.The average price of fines in April having a ferrous content within a range of52% to 63.5% stood at Rs 5293/ton while in March average price of fines withina range of 55% to 63.5% stood at around Rs 4987/ton.New Mangalore port’s iron ore handling stood at 224,326 tons in April 2012,sharply down by 24.93% from 298,825tons in March, a senior official ofthe port told ISMW on May 10.However, iron ore handling in April 2011 stood at nil, the official added.The port has handled a total of 1,331,852 tons of iron ore during 2011-12,against 2,671,105 tons in 2010-11.India Steel Market Watch 42May 23, 2012

IRON ORE & METALLIC’SOdisha govtconsidering cap on oreproductionISMWNMDC hikes iron orepricesISMWIron ore miningin some mines ofKarnataka may startsoonISMWThe state government of Odisha is considering the imposition of a statewidecap on iron ore production, sources said. The proposed move, ifimplemented, would severely affect small-scale steel producers in Chhattisgarh,Jhakhand and Odisha, industry sources said. This in turn would affect largercompanies such as Tata Steel, Essel Mining and Sarda Mines (which in turnsupplies Jindal Steel & Power).Already the export ban of ore in Karnataka has adversely affected the marketand this potential cap, while only affecting domestic use, could still significantlyworsen the low market, they said. Besides, if the cap is imposed, iron ore pricesmay shoot up due to tight supply, they added.NMDC has hiked iron ore prices by around 10% on rising demand for theraw material used in making steel. The state-run miner’s latest movemay prompt key customers such as Essar Steel India Ltd, JSW Steel Ltd andRashtriya Ispat Nigam Ltd (RINL) to revise their prices upwards.Prices of iron ore lumps have been increased by 10% and fines by about 8%,sources said. The latest hike ranges from Rs 250-400 a ton.Higher grade ore lumps with 65% iron content are now priced at Rs 5,400 aton, while the fines with 64% iron are priced at Rs 2,800 a ton. Iron ore price riseis the latest blow to steel makers without captive mines. Steel makers are alreadyreeling under the impact of the freight hike imposed by the Railways in March.Besides, a weakening rupee has made import of raw materials such as cokingcoal costlier for them. The rupee has weakened by some 4% since April 1.The steel makers have seen disruption in iron ore supplies following the banon mining in Karnataka. Prices of iron ore lumps have gone up by an averageRs 600 a ton since the beginning of this year, while fines have appreciated byabout Rs 200 a ton.Since January, steel prices have been firming up with large producers,including SAIL and Tata Steel, increasing their prices by Rs 1,000-1,500 a ton onaccount of improving demand. Steel off-take, which grew at a sluggish pace ofaround 5% in 2011-12, is forecast to grow by 8-9% in the current financial year.Iron ore mining in some select category of mines in Karnataka may startsoon, Minister of Mines Dinsha J. Patel indicated on May 21. The CentralEmpowered Committee set up by the Supreme Court of India in its final reporton mining in Karnataka has categorised all iron ore mines in the states into threecategories of “A”, “B” and “C” on the basis of extent of violation.The committee has recommended that mining in iron ore mines in Karnatakacan be allowed for Category “A” and “B” mines.However, the Supreme Court, while agreeing to the recommendations ofthe Central Empowered Committee, has directed that mining may be allowedfor Category ‘A’ and ‘B’ mines on the condition that a Reclamation andRehabilitation Plan for these mines is prepared, implemented and monitoredunder the supervision of the Central Empowered Committee.“The Indian Council of Forestry Research and Education (ICFRE) hasbeen directed to prepare Reclamation and Rehabilitation Plan for CategoryContd. on next PgIndia Steel Market Watch 43May 23, 2012

IRON ORE & METALLIC’SContd. from previous Pg‘A’ mines having a lease area 50 hectares and above within two months, afterwhich Reclamation and Rehabilitation Plan for category ‘B’ mines with leasearea of more than 50 hectares would be prepared and finally Reclamation andRehabilitation Plan for remaining Category ‘A’ and ‘B’ mines would be thenprepared,” Patel said in a written reply in Rajya Sabha on May 21.The lessee will then submit approved Reclamation and Rehabilitation Planalong with Mining Plan / Mining Scheme to the Indian Bureau of Mines forapproval of the Mining Plan / Mining Scheme, he addedIron ore export viaMormugao port risem-o-m in AprilISMWAround 2,533,740 tons of iron ore went out of Mormugao port in April thisyear, a rise of almost 8% as compared to 2,340,928 tons exported in theprevious month, as per information available with ISMW.Out of the entire quantity exported during the month almost 2,338,320 tonsof fines and 195,420 tons of lumps went out of the port. In March along withfines (1,952,194 tons) and lumps (321,114 tons) almost (67,620 tons) of pelletswere exported out of the port.In April almost 2,374,144 tons of iron ore was exported to China, followedby 134,765 tons for Japan and 24,831 tons for Italy. In March however, China(2,001,361 tons) and Japan (339,567 tons) were the only two countries whereiron ore was destined for during the month.The average export price of iron ore, in April having iron content rangingbetween 45% and 61.5% stood at around Rs 4264/ton while in March averageiron ore export price having iron content between 45% and 62.2% stood lowerat around Rs 4154/ton.Iron ore exportsthrough Paradip portfall m-o-m in MarchISMWIron ore exports out of Paradip port fell to 56,800 tons in March this yearas compared to 111,500 tons in February 2012, according to informationavailable with ISMW.OMC Ltd was the major exporter of iron ore in March followed by Globaltrading Solutions and Ore Cast. LG Minerals and Singhania and Sons Pvt Ltdwere other exporters during the month.The average export price of the product stood at around Rs 4,963/ton whilethat in February the average price was around Rs 5,356/ton.In January, almost 128,150 tons was exported out of the port, taking the totalexports for the quarter to 296,450 tons. During the first quarter of 2011, around3,205,760 tons of iron ore was exported out of the port, much higher than theexports recorded in the corresponding period in 2012.In March 2011, iron ore exports out of the port stood at around 814,829 tons– much higher than exports recorded in March 2012.In the financial year 2011-12, iron ore exports out of Paradip stood at around5,263,719 tons, with the entire amount being exported to China.Following are the details of iron ore fines export through Paradip port forChina between January and March 2012:Contd. on next PgIndia Steel Market Watch 44May 23, 2012

IRON ORE & METALLIC’SContd. from previous PgMonthExportersAverage of UNITPRICESum of QTYANURAG OVERSEAS 6125 14000BAGADIYA BROTHERS(P) LTD 5365 31000JanuaryDr. SAROJINI PRADHAN 4677 14750K.K.RESOURCES PVT. LTD 6373 13200MINERAL OVERSEAS PVT LTD 5646 31000TAURIAN IRON & STEEL CO. PVT. LTD 4874 24200January Total 128150BAGADIYA BROTHERS(P) LTD 5384 11000GEETARANI MOHANTY, BHUBANESWAR 4855 14000FebruaryJINDAL STEEL POWER LTD 5726 36500K.K.RESOURCES PVT. LTD 5380 38000MODERN MINING PVT LTD 5380 12000February Total 111500GLOBAL TRADING SOLUTIONS LTD 5307 14000L.G.MINERALS 4772 8000MarchOMC LTD 5252 20000ORE CAST (INDIA), BBSR 4513 11900SINGHANIA & SONS PVT. LTD 5424 2900March Total 56800Grand Total 296450Ferrous scrap offersfall marginallyISMWBhavnagar offered ferrous scrap prices slightly lower by Rs 200/ton atRs 26,900/ton. HMS (80:20) was traded at Rs 28,900/ton in MandiGobindgarh i.e. down by Rs 100/ton from previous trade.According to a market source, prices are likely to remain at the current levelas correction in the prices is short lived. Shortage of sponge iron has supportedferrous scrap prices to stay high. High labour costs have also kept ferrous scrapprices high.Iron Ore handlingby Indian ports fallssharply in AprilISMWIron Ore handling, by nine major and minor Indian ports during the monthof April 2011 fell sharply by 31.99 percent, according to a compilation byISMW.A total of 4,752,576 tons of iron ore was handled by these ports during themonth of April 2012 as compared to 6,988,797 tons of iron ore handled by thesame number of ports in the corresponding month of 2011, the compilationrevealed.Contd. on next PgIndia Steel Market Watch 45May 23, 2012

IRON ORE & METALLIC’SContd. from previous PgIn March this year however, most of the scrap came in from South Africa(1,622 tons), with Russia (1,002 tons), UK (486 tons), US (270 tons) andMozambique (260 tons) being some of the other major exporters during themonth.In April 2011, almost 4,613 tons of scrap were imported through the portmainly from South Africa (3140 tons) followed by 1,010 tons from UK. SierraLeone, Georgia and Madagascar were some of the other major countriesexporting scrap during the month.The average unit price of scrap in April stood at around Rs 26,476/ton whichwas higher than the average price in March which stood at Rs 25,788/ton.Scrap imports viaVizag port sharplydown m-o-m in AprilISMWScrap imports via Vizag port fell drastically in April 2012 to 10,157 tons ascompared to 41,589 tons in March, as per information available with ISMWon May 11.Out of the entire quantity the highest amount of almost 3,181 tons camein from UK followed by 2,000 tons from Mexico and 1,726 tons from SouthKorea.Also, 1,044 tons came in from Germany while 974 tons was importedfrom Netherlands and 514 tons from South Africa. Indonesia, Singapore andMalaysia were the other countries from where scrap got imported during themonth.In March 2012, most of the scrap imports happened from Mexico of almost19,400 tons followed by US with 12,526 tons and Netherlands with 3,879 tons.Germany, UK and South Korea were other major importers importing 2,005tons, 1,479 tons and 1,017 tons respectively.Smaller quantities also came in from Brazil, Indonesia, South Africa andSingapore.In April 2011, around 4,413 tons of scrap came in through Vizag port, muchlower than imports recorded in the corresponding month of 2012.The average import price of scrap in April stood at around Rs 75,559/tonwhile that in March was recorded at around Rs 48,920/ton.Pig iron exportsthrough Paradip portup m-o-m in MarchISMWExport of pig iron through Paradip port rose nearly 70% to 31,500 tons inMarch this year as compared to 18,500 tons in February, as per informationavailable with ISMW.In January 2012, a total of 41,500 tons were exported while during Marchlast year, exports of 27,800 tons took place through the port.The entire exports by MMTC in March this year went to Thailand at anassessed price of Rs 22,356/ton.A total of 274,500 tons of pig iron has been exported through Paradip portin 2011-12. Exports to Korea and China stood at 94,500 tons and 78,500 tonsrespectively, while 70,000 tons was shipped to Malaysia.India Steel Market Watch 47May 23, 2012

IRON ORE & METALLIC’SIron Ore Exports out of Major Indian Ports April ‘12, Contd...PORT DESTINATION COUNTRY DATE PRODUCT CATEGORY FE CONTENTUNIT PRICE(in Rs/TonQTY(in Tons)50 2594 59975CHINA 30-Apr-12 FINES56 5484 14437557 5572 114400MORMUGAOITALY 7-Apr-12 FINES 46 1773 248312-Apr-12 FINES 61.5 5989 61920JAPANFINES 61.5 6242 526056-Apr-12LUMPS 59 5909 20240MORMUGAO Total 25337402-Apr-12 FINES 52 3596 2681854 3799 16204-Apr-12FINES60 5443 846454/53 3645 216005249 1012010-Apr-12 FINES 605443 73895470 7113-Apr-12 FINES 63.5 6838 30136813 136516-Apr-12 FINES 63.56813 127406813 15470VIZAGCHINA6813 803039 181619-Apr-12 FINES 523039 146003039 883855 4305 1944820-Apr-12FINES6787 2414863.56787 2668021-Apr-12 FINES 63 6559 2520023-Apr-12 FINES 55 4305 16227-Apr-12 FINES 63 6787 542828-Apr-12 FINES 56-57 4131 1365330-Apr-12FINES55 4559 1794063.5 6787 49680VIZAG Total 316342Grand Total 3002613PortSummarised Iron Ore Exports through Major India Ports April ‘12PRODUCTTYPECOUNTRY OF ORIGINCHINA ITALY ITALY JAPANQTY (in Tons)Average UnitPrice (in Rs/Ton)QTY (in Tons)Average UnitPrice (in Rs/Ton)QTY (in Tons)Average UnitPrice (in Rs/Ton)Port andProductwiseQuantity Total(In Tons)KOLKATA FINES 152531 4284 152531FINES 2198964 4277 24831 1773 114525 6116 2338320MORMUGAOLUMPS 175180 3586 20240 5909 195420VIZAG FINES 316342 5293 316342Countrywise Quantity Total (in Tons) 2843017 24831 134765 3002613PRODUCTTYPEPortSummarised Iron Ore Exports February - April ‘12QTY (in Tons)FEB ‘11 MAR ‘12 APR ‘12Average UnitPrice (in Rs/Ton)QTY (in Tons)Average UnitPrice (in Rs/Ton)QTY (in Tons)Average UnitPrice (in Rs/Ton)Grand TotalKOLKATA 240694 4000 48870 3573 152531 4284 442095FINESMORMUGAO 1926516 4217 1952194 3995 2338320 4304 6217030VIZAG 187103 4530 279999 4987 316342 5293 783445LUMPS MORMUGAO 197563 3943 321114 4208 195420 3973 714097PELLETS MORMUGAO 67620 9337 67620Grand Total 2551877 2669797 3002613 8224287India Steel Market Watch 50May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSIndicative price ofcoking coal in variousmarketsISMWFollowing is the indicative price of various types of imported coking coal andmet coke as on May 1, 2012:DescriptionSpecificationPrice /ton (in $ andFOB) as on May 18,Price/tn(As on May 2)Hard Coking Coal (Australian) CSR -74%, VM- 20.7%, Ash -10.5% 222 218.5Premium Low Vol Coking Coal CSR-71%, VM-21.5%, Ash - 9.3% 222.5 219Semi Soft Coking Coal 127.5 135Met Coke (CFR India) 361 370Source: ISMW (from traders) Press Information Bureau, Government of IndiaSAIL floats NIT toprocure 23,459 tonshigh carbon ferrochromeISMWFerro alloys marketsluggish on lowdemandISMWFerro alloys makersays prices depressedISMWSteel Authority of India Limited’s (SAIL) Durgapur Steel Plant (DSP) hasfloated a notice inviting tender (NIT) for procurement of 23,459 tons ofhigh carbon ferro chrome from domestic/overseas manufacturers, according toinformation available with ISMW as on May 21.Tender documents can be downloaded from the company’s website www.sailtenders.co.in from May 22, 2012 till June 07, 2012,Interested parties can submit their bids till June 8, 2012 up to 12.00 hrs whilethe bids will open on the same day at 3.30 pm.The ferro alloys market in India is witnessing a sluggish trend over thepast couple of weeks on low demand from steel makers, an official of aChhattisgarh-based ferro alloys maker told ISMW.“The overall sentiment was quite bullish in March and April because ofcomparatively good demand, but the prices have turned slightly weak in May onlow demand. The prices are likely to remain sluggish in coming few months,”the official said.“There is no activity in the market as almost all the steel makers are expectingthe ferro alloy makers to reduce prices as they themselves are under pressure tocut prices because of low demand,” the official said.“Even the export market has turned weak on low demand due to the Europeancrisis triggered by uncertainty over fate of Greece. Export is, however, somehowhappening, at lower prices,” he said.The current average price of silico manganese as on May 17 is around Rs59,000 (ex-Raipur) compared with a price of around Rs 60,000 to 61,000/tonin April while ferro manganese prices are down by about Rs 1,000/ton to Rs57,500 (ex-Raipur)/ton from Rs 58,500/ton in April, the official said.The prices of ferro alloys in India were slightly depressed due to higher availabilityin the international market which has brought down the demand for Indianmaterial in the export market, an official of a ferro alloy maker said on April 26.“Prices are not going down as such, but they are slightly depressed becauseof surplus capacity and low demand,” the official of a Raipur-based ferro alloymanufacturer said.A number of big producers in Russia and Africa, who had earlier stoppedproduction because of low demand and higher input cost, have resumedContd. on next PgIndia Steel Market Watch 51May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSContd. from previous Pgproduction and thus there is oversupply in the market, he claimed.“As a result of higher availability in overseas markets, Indian exporters arefinding it difficult to sell their products abroad and are forced to sell it in thedomestic market. This is leading to higher availability in the domestic marketand a consequent depressed trend,” the official added.On April 26, the company was offering ferro manganese (70-75) at Rs 57,000/ton (Ex-Raipur) and Silico Manganese (64) to Rs 58,000/ton (Ex-Raipur). Aweek ago, the company had sold ferro manganese at Rs 59,000/ton and silicomanganese at Rs 60,000/ton, the official said.Ferro SilicoManganese export viaCochin port in AprilISMWFerro silico manganse exports out of Cochin port dropped almost 16 percent to644 tons in April from 556 tons in March this year, according to informationavailable with ISMW as on May 14.Out of the entire exports 358 tons went to Netherlands while 182 tons wasdestined for the US. Also, 104 tons were exported out to Italy during April.In March however, USA (286 tons) and Netherlands (270 tons) were theonly two destinations for export of the product.The average unit price of the product in April stood at around Rs 80,082 perton while that in March stood lower at Rs 72,942 per ton.Ferro alloy exports viaVizag port fall m-o-min AprilISMWFerro alloy exports out of Vizag port fell in April to around 20,768 tonsas compared to 27,267 tons exported in March this year, according toinformation available with ISMW.Out of the entire quantity, almost 13,694 tons of high grade ferro chromewent out during April at an average unit price of around Rs 61,668/ton. InMarch 19,424 tons of the same product was exported at an average price ofaround Rs 59,438/ton.This was followed by 2945 tons of silico manganese exported at an averageunit price of around Rs 58,049/ton, much higher than 2378 tons of the productexported a month back at an average unit price of around Rs 50,238/ton.Almost 2228 tons of ferro silico manganese came out of the port inApril at an average price of around Rs 63,424/ton while in March a higherquantity of 2402 tons of the same got exported at an average price of aroundRs 61,495/ton.Meanwhile, around 1353 tons of ferro silicon was exported at an averageunit price of Rs 69,942/ton in April, lower than 1792 tons exported in March atan average price of Rs 66,994/ton.In April, 549 tons of ferro manganese went out of the port at an averageprice of around Rs 52,229/ton while in March, 1271 tons of the same gotexported at an average price of Rs 52,797/ton. Most of the ferro alloysexported out of the port during April went to Japan (3761 tons) followed by3574 tons to South Korea and 3244 tons to China. Italy, Netherlands, Belgiumand USA were some of the other major countries to which ferro alloys gotexported during the month.India Steel Market Watch 52May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSPORTS DATE COUNTRY ITEM DESCRIPTIONKANDLA 27-Apr-12 BAHRAINHIGH CORBON FERRO MANGANESE (MN-75.27%,SI-0.38%,P-0.13%,C-6.90%,S-0.01%,H2O-0.025%)UNIT PRICE(in Rs/Ton)QTY(in Tons)47714 500.00KANDLA Total 500.00KOLKATA2-Apr-124-Apr-127-Apr-1210-Apr-1211-Apr-1213-Apr-1217-Apr-1218-Apr-1226-Apr-1228-Apr-12NORWAYMEDIUM CARBON FERRO MANGANESE MAX 1.0%C, SIZE: 10-50 MMMN 81.0%, SI. 0.10%, C. 0.94%, P. 0.184%, S. 0.006%, N. 0.053%80828 21.70BRAZIL FERRO NICKEL (NI 36%) (NET.59801 KGS) 311548 59.80CHINA FERRO SILICON (Si 72.00 PCT MIN) 65799 202.00RUSSIA LOW CARBON FERRO CHROME (CR-70.0167%) 225489 18.91NORWAYUNITED KINGDOMVIETNAM, DEMOCRATICREP.MEDIUM CARBON FERRO MANGANESE MAX 1.0%C, SIZE: 10-50 MMMN 81.6%, SI. 0.10%, C. 0.95%, P. 0.187%, S. 0.006%, N. 0.056%FERRO TITANIUM 70% (N.WT:20000 KGS)(FERRO TI LUMPS)SIZE:10-80MM(90%)80828 21.70292740 20.00FERRO SILICON.(SI-72%) 67880 152.65CHINA FERRO SILICON (SILICON 72% MIN.) 65799 400.00FRANCEFRANCEJAPANSOUTH AFRICACHINANORWAYINOPIPE -E95/16 (MOULD POWDER) (FERRO ALLOY) Si 58.99% 135547 9.90INOPIPE-E95/16 (MOULD POWDER) (FERRO ALLOY) Si 57.70% 135547 9.90135547 1.75INOPIPE-E95/16 (MOULD POWDER) (FERRO ALLOY) Si 57.90%135547 9.90135547 8.15INOPIPE-E95/16 (MOULD POWDER) (FERRO ALLOY) Si 58.99% 135547 9.90INOPIPE-E95/16 (MOULD POWDER) (FERRO ALLOY) Si 57.70% 135547 9.90SPHERIX J (FERRO ALLOY) SILICON 70% 92688 9.90SPHERIX J (FERRO ALLOY) SILICON:70% 92688 9.90HIGH CARBON FERRO NICKEL.(NI -15%) 1080940 19.74HIGH CARBON FERRO NICKEL.(NI-MIN 15%) 1046975 19.35NITROVAN 16 VANADIUM (FERRO VANADIUM CONTAINING 77.79% BYWT OF VANADIUM)1286487 7.78FERRO PHOSPHORUS (FERRO PHOSPHORUS) 27828 50.00FERRO SILICON MAGNESIUM (SPEC:MG 9.02%, SI 41.20%) 99788 25.00MEDIUM CARBON FERRO MANGANESE MAX 1.0%C, SIZE: 10-50 MMMN 81.4%, SI. 0.12%, C. 0.95%, P. 0.184%, S. 0.006%, N. 0.061%84264 21.70CHINA FERRO SILICON MAGNESIUM (SPEC:MG 9.02%, SI 41.20%) 104030 50.00RUSSIAFerro Alloys imports April ‘12FERRO TITANIUM (TI: 69.89 %, C: 0.18% P:0.001%,S:0.020% V:1.98%)SIZE: 10-50 MM(90 % MIN.)LOW CARBON FERRO CHROME 010, SEROV PRODUCTION (CR:66.6%)(TOTAL 60,000.00 KGS X 66.6%CR = 39,960.00KGS CR.)298097 25.00235080 0.42235080 1.35235080 1.77235080 0.60235080 2.77235080 1.51235080 2.74235080 3.68235080 5.49235080 15.17235080 4.48India Steel Market Watch 55May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSFerro Alloys imports April ‘12, Contd...KOLKATA30-Apr-12FRANCESOUTH AFRICAINOPIPE-E95/16 (MOULD POWDER) (FERRO ALLOY) SILICON 59.15% 135547 19.80INOPIPE-E95/16 (MOULD POWDER) (FERRO ALLOY) SILICON 59.25% 135547 19.80INOPIPE-E95/16 (MOULD POWDER) (FERRO ALLOY) SILICON 59.45% 135547 9.90INOPIPE-E95/16 (MOULD POWDER)(FERRO ALLOY) SILICON 59.45% 135547 9.90HIGH CARBON FERRO MANGANESE (STANDARD GRADE 76% Mn) 50975 49.92MEDIUM CARBON FERRO MANGANESE (STANDARD GRADE 80% Mn) 91026 75.80STANDARD GRADE HIGH CARBON FERRO MANGANESE SIZE:(50 X10 MM) MN. 76.6%, SI. 0.24%, C. 6.73%, P. 0.07%, S. 0.0056%,50975 49.82KOLKATA Total 1469.42VIZAGPORTS DATE COUNTRY ITEM DESCRIPTION3-Apr-12 CHINA FERRO SILICON 70% SIZE: 10-100MM (90% MIN) 62368 48.8210-Apr-12 JAPAN HIGH CARBON FERRO NICKEL (NI CONTENT: 15%-23%) 1086258 151.3313-Apr-12 CHINA FERRO PHOSPHORUS (P:25%MIN C:1%MAX) SIZE 10-50MM 90%MIN 24187 26.0018-Apr-12MACEDONIA,THEFORMER YUGOSLAVREPUBLIC OFUNIT PRICE(in Rs/Ton)QTY(in Tons)NICKEL CONTENT IN FERRO NICKEL (NICKEL CONTENT:22-28%) 1070157 50.12VIZAG Total 276.27Grand Total 2245.69PORTCATEGORYSummarised Ferro Alloys imports April ‘12QTY (inTons)COUNTRY OF ORIGINCHINA BAHRAIN JAPAN SOUTH AFRICA OTHERSAverageUnit Price(in Rs/Ton)QTY (inTons)AverageUnit Price(in Rs/Ton)QTY (inTons)AverageUnit Price(in Rs/Ton)QTY (inTons)AverageUnit Price(in Rs/Ton)QTY (inTons)AverageUnit Price(in Rs/Ton)Port andProductwiseQuantityTotal (InTons)KANDLAFERROMANGANESE500 47714 500KANDLA Total 500 47714 500FERRO CHROME 59 234281 59FERROMANGANESE176 64325 65 81974 241FERRO NICKEL 39 1063957 60 311548 99FERRO50 27828 50PHOSPHORUSKOLKATAFERRO SILICON 602 65799 291 125960 893FERRO SILICONMAGNESIUM75 101909 75FERRO TITANIUM 45 295419 45FERROVANADIUM8 1286487 8KOLKATA Total 727 72649 39 1063957 183 369866 520 175737 1469FERRO NICKEL 151 1086258 50 1070157 201VIZAGFERROPHOSPHORUS26 24187 26FERRO SILICON 49 62368 49VIZAG Total 75 43277 151 1086258 50 1070157 276Countrywise Quantity Total(in Tons)802 500 190 183 570 2246India Steel Market Watch 56May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSSummarised Ferro Alloys imports February - April ‘12CATEGORYPORTQTY(in Tons)FEB ‘12 MAR ‘11 APRIL ‘12Average UnitPrice (in Rs/Ton)QTY(in Tons)Average UnitPrice(in Rs/Ton)QTY(in Tons)Average UnitPrice(in Rs/Ton)Product andPortwiseQuantity Total(In Tons)CHENNAI 128 133832 195 142889 322FERRO CHROMEKANDLA 21 175670 21KOLKATA 215 151644 106 199494 59 234281 380VIZAG 125 167245 125CHENNAI 19 100402 234 85219 253FERRO MANGANESEKANDLA 405 34579 500 47714 905KOLKATA 74 89236 22 86067 241 73149 336FERRO NICKELKOLKATA 221 331669 99 813154 320VIZAG 201 1078207 201FERRO NIOBIUM CHENNAI 9 1493456 5 1448329 14FERROPHOSPHORUSFERRO SILICOMANGANESECHENNAI 48 22309 24 21166 72KOLKATA 108 24363 75 24573 50 27828 233VIZAG 26 24187 26CHENNAI 2 45632 2CHENNAI 332 118864 75 116894 407KOLKATA 100 112484 282 116675 893 119276 1275FERRO SILICONMORMUGAO 135 105744 135MUNDRA 158 125321 59 125985 218VIZAG 113 72499 49 62368 162FERRO TITANIUM KOLKATA 13 376478 29 407010 45 295419 88FERRO VANADIUMOTHER FERROALLOYFERROMOLYBDENUMFERRO SILICONCALCIUMFERRO SILICONMAGNESIUMCHENNAI 20 1026657 16 1142951 36KOLKATA 26 1327895 8 1286487 34CHENNAI 4 130195 4KOLKATA 25 113300 25CHENNAI 17 1042944 17CHENNAI 25 119346 25KOLKATA 25 117500 25VIZAG 34 25623 34KOLKATA 75 101909 75Monthwise Quantity Total (in Tons) 2079 1443 2246 5768India Steel Market Watch 57May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSCOCHINFerro Alloys Exports April ‘12PORT DATE DESTINATION PRODUCT CATEGORYUNIT PRICE(in Rs/Ton)QTY(in Tons)11-Apr-12 NETHERLANDS FERRO SILICO MANGANESE 76510 16216-Apr-12 NETHERLANDS FERRO SILICO MANGANESE 74785 11218-Apr-12 NETHERLANDS FERRO SILICO MANGANESE 74785 8425-Apr-12ITALY FERRO SILICO MANGANESE 88170 104USA FERRO SILICO MANGANESE 73253 7828-Apr-12 USA FERRO SILICO MANGANESE 92990 104COCHIN Total 644KOLKATA2-Apr-123-Apr-124-Apr-127-Apr-12BULGARIA SILICO MANGANESE 46656 108ITALYFERRO SILICO MANGANESE 49589 189SILICO MANGANESE42166 8456173 84KENYA SILICO MANGANESE 43259 98NETHERLANDSFERRO SILICON 67558 54SILICO MANGANESE 56817 56PAKISTAN FERRO MANGANESE 53849 12TAIWANTURKEYFERRO MANGANESESILICO MANGANESESILICO MANGANESE45746 10048846 20048661 25060823 20050528 12551273 297ISRAEL FERRO SILICO MANGANESE 56944 108ITALYFERRO CHROME 57403 16SILICO MANGANESE 52230 135JAPAN SILICO MANGANESE 61673 100KENYA SILICO MANGANESE 53266 50NETHERLANDSTAIWANFERRO SILICO MANGANESE 48194 280SILICO MANGANESE54325 29756817 196FERRO MANGANESE 55949 200SILICO MANGANESE47766 2547766 12555648 75ETHIOPIA SILICO MANGANESE 50544 54ITALYFERRO SILICO MANGANESE 53112 280SILICO MANGANESE 56907 216TAIWAN FERRO SILICO MANGANESE 55768 200USAFERRO CHROME66714 27066714 243BULGARIA SILICO MANGANESE 46656 513JAPAN FERRO SILICO MANGANESE 53931 260NETHERLANDSSILICO MANGANESE50501 5657238 560India Steel Market Watch 58May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSFerro Alloys Exports April ‘12, Contd...KOLKATAPORT DATE DESTINATION PRODUCT CATEGORY7-Apr-129-Apr-1210-Apr-12NETHERLANDS SILICO MANGANESE 61764 504PAKISTAN SILICO MANGANESE 58548 81ROMANIA FERRO CHROME 70197 54SOUTH KOREATAIWANITALYFERRO MANGANESE 46691 393SILICO MANGANESE 45935 251FERRO MANGANESESILICO MANGANESE47676 15060596 7559534 50063625 250FERRO MANGANESE 52321 162FERRO MANGANESE 52995 162SILICO MANGANESE 47895 243JAPAN SILICO MANGANESE 60970 200NETHERLANDS FERRO CHROME 70259 140NIGERIA SILICO MANGANESE 59195 81PHILIPPINES FERRO MANGANESE 57535 216SOUTH KOREATAIWANITALYJAPANNETHERLANDSSILICO MANGANESE58991 8058991 10058991 60FERRO MANGANESE 52271 200SILICO MANGANESE50704 15057600 25058116 12558116 50FERRO SILICO MANGANESE 38819 252SILICO MANGANESE45886 16855349 81FERRO MANGANESE 53387 80FERRO SILICO MANGANESE54246 26056529 315SILICO MANGANESE 56625 200FERRO SILICO MANGANESESILICO MANGANESE55554 28057239 50462674 13555349 2755602 10855715 28061850 83PAKISTAN FERRO CHROME 74260 96TAIWANFERRO SILICO MANGANESE 58140 250SILICO MANGANESEUNIT PRICE(in Rs/Ton)QTY(in Tons)57995 10057999 75THAILAND SILICO MANGANESE 55482 29711-Apr-12 ITALY SILICO MANGANESE 40936 308India Steel Market Watch 59May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSFerro Alloys Exports April ‘12, Contd...KOLKATAPORT DATE DESTINATION PRODUCT CATEGORY13-Apr-1216-Apr-1217-Apr-1218-Apr-12SLOVENIA FERRO MANGANESE 51903 135SRI LANKASILICO MANGANESE59544 5460557 27TANZANIA SILICO MANGANESE 53183 54THAILAND SILICO MANGANESE 48573 297JAPAN SILICO MANGANESE 60717 200NETHERLANDSFERRO MANGANESESILICO MANGANESE53183 21658248 36456452 50456915 162OMAN SILICO MANGANESE 53459 75TAIWANITALYJAPANFERRO MANGANESE48261 5048261 15048261 200FERRO SILICO MANGANESE 56323 200SILICO MANGANESE57995 25078322 156FERRO MANGANESE 58519 140SILICO MANGANESESILICO MANGANESE47594 24352572 25262032 40064567 546MEXICO FERRO MANGANESE 54466 100NETHERLANDSSOUTH KOREASILICO MANGANESE61504 50463313 25263566 351FERRO CHROME 70074 260SILICO MANGANESE49518 46058991 8058991 10058991 60SPAIN SILICO MANGANESE 34444 100SRI LANKA SILICO MANGANESE 48164 108TAIWANSILICO MANGANESE45873 15050684 250THAILAND SILICO MANGANESE 57921 108BULGARIA SILICO MANGANESE 48624 486ETHIOPIA SILICO MANGANESE 55209 100ITALY FERRO MANGANESE 50190 405JAPAN FERRO CHROME 70447 600NETHERLANDSFERRO SILICO MANGANESEUNIT PRICE(in Rs/Ton)QTY(in Tons)50165 28056788 280SILICO MANGANESE 57007 252NIGERIA SILICO MANGANESE 50174 27India Steel Market Watch 61May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSFerro Alloys Exports April ‘12, Contd...KOLKATAPORT DATE DESTINATION PRODUCT CATEGORY18-Apr-1219-Apr-1220-Apr-1221-Apr-1223-Apr-12PERU FERRO MANGANESE 48774 50THAILAND SILICO MANGANESE 65257 50ITALY FERRO SILICO MANGANESE 45009 280JAPANSILICO MANGANESE60803 2160803 63LITHUANIA SILICO MANGANESE 50623 81SINGAPORE SILICO MANGANESE 55512 240SOUTH KOREA SILICO MANGANESE 51355 260TAIWANSILICO MANGANESE50491 15060686 81THAILAND FERRO SILICO MANGANESE 52676 150BELGIUM FERRO MANGANESE 54593 28FRANCE SILICO MANGANESE 57002 100GREECE SILICO MANGANESE 65845 100ITALY SILICO MANGANESE 64656 224JAPAN FERRO CHROME 70257 400NETHERLANDSPAKISTANFERRO SILICO MANGANESE 50386 252SILICO MANGANESESILICO MANGANESE56805 22457265 15062754 24349510 5457441 54SINGAPORE SILICO MANGANESE 55512 120SOUTH KOREAFERRO MANGANESE 49462 60SILICO MANGANESE58991 8058991 10058991 60CHILE FERRO CHROME 88183 324ITALYJAPANFERRO SILICO MANGANESE 49713 280SILICO MANGANESE 58038 80FERRO CHROME 73220 40FERRO SILICO MANGANESE 61986 516SILICO MANGANESE 63313 147JORDAN SILICO MANGANESE 56222 100NETHERLANDSSILICO MANGANESE54745 11256468 252NIGERIA SILICO MANGANESE 65339 55TAIWAN SILICO MANGANESE 57580 300THAILANDFERRO SILICO MANGANESEUNIT PRICE(in Rs/Ton)QTY(in Tons)53942 20063059 100SILICO MANGANESE 65210 135BELGIUM FERRO SILICO MANGANESE 51665 540GREECE SILICO MANGANESE 65845 100ITALY FERRO CHROME 67610 224India Steel Market Watch 62May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSFerro Alloys Exports April ‘12, Contd...KOLKATAPORT DATE DESTINATION PRODUCT CATEGORY23-Apr-1224-Apr-1225-Apr-12ITALYJAPANFERRO SILICO MANGANESEFERRO CHROME49317 27055434 43270961 16071176 60FERRO SILICO MANGANESE 60310 252SILICO MANGANESE 62032 400MALAYSIA SILICO MANGANESE 63313 200MEXICO FERRO MANGANESE 54466 425NETHERLANDS FERRO SILICO MANGANESE 50386 252SOUTH KOREA SILICO MANGANESE 65845 306SPAINSILICO MANGANESE48252 15056607 150TAIWAN SILICO MANGANESE 62300 500TURKEY SILICO MANGANESE 58248 189BULGARIASILICO MANGANESE48624 48656981 486ETHIOPIA SILICO MANGANESE 55209 50ITALYFERRO MANGANESE 55244 162FERRO SILICO MANGANESE 61522 280SILICO MANGANESE49740 11258107 14058273 306MALAYSIA SILICO MANGANESE 55397 200NETHERLANDSFERRO MANGANESE 59498 224FERRO SILICO MANGANESE 53082 112NIGERIA SILICO MANGANESE 58248 81PAKISTAN SILICO MANGANESE 58454 27TAIWANFERRO MANGANESE51757 25057659 250SILICO MANGANESE 57808 150BULGARIA SILICO MANGANESE 58248 297IRAN FERRO MANGANESE 57032 27ITALYJAPANFERRO SILICO MANGANESE 56130 280SILICO MANGANESESILICO MANGANESEUNIT PRICE(in Rs/Ton)QTY(in Tons)49748 8458162 22452170 6255718 2055718 24055718 4055718 60MOROCCO SILICO MANGANESE 48903 250PAKISTAN FERRO CHROME 74260 96SLOVENIA SILICO MANGANESE 58172 54SOUTH KOREA FERRO CHROME 71798 160India Steel Market Watch 63May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSFerro Alloys Exports April ‘12, Contd...KOLKATAPORT DATE DESTINATION PRODUCT CATEGORY25-Apr-1226-Apr-1227-Apr-1228-Apr-12TAIWANFERRO MANGANESE 47706 100FERRO SILICO MANGANESE 64242 250THAILAND FERRO MANGANESE 60192 100BANGLADESH SILICO MANGANESE 56859 108GERMANY SILICO MANGANESE 65436 104ITALYSILICO MANGANESE49748 8452572 252MEXICO SILICO MANGANESE 49536 250NETHERLANDSFERRO SILICO MANGANESE49762 13563059 196PAKISTAN SILICO MANGANESE 55940 81SOUTH KOREA FERRO CHROME 69487 520SRI LANKA SILICO MANGANESE 58498 27TAIWANFERRO MANGANESE 57659 250SILICO MANGANESE49811 2549811 7557580 25063635 250COLOMBIA SILICO MANGANESE 61540 270GREECE SILICO MANGANESE 57084 144ITALYJAPANFERRO MANGANESE 55715 162SILICO MANGANESE 49767 56FERRO MANGANESE 56952 538FERRO SILICO MANGANESE 56459 240SILICO MANGANESE 55718 100MALAYSIA FERRO MANGANESE 60375 100NETHERLANDSPAKISTANFERRO SILICO MANGANESE50386 11260830 56063386 27SILICO MANGANESE 61518 252FERRO MANGANESE 63772 54SILICO MANGANESE 55938 54SLOVENIA SILICO MANGANESE 64135 108SOUTH KOREAFERRO MANGANESE 43002 360SILICO MANGANESE 51355 240SPAIN SILICO MANGANESE 34480 125SRI LANKA FERRO SILICO MANGANESE 63313 27TAIWAN SILICO MANGANESE 49811 100TURKEY SILICO MANGANESE 56766 297ITALYFERRO CHROME 67610 504FERRO SILICO MANGANESE 61522 224SILICO MANGANESEUNIT PRICE(in Rs/Ton)QTY(in Tons)56616 28056868 108KENYA SILICO MANGANESE 60020 81India Steel Market Watch 64May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSPORTCOCHINKOLKATACATEGORYFERRO SILICOMANGANESESummarised Ferro Alloys Exports April ’12QTY(inTons)DESTINATION COUNTRYITALY NETHERLANDS JAPAN TAIWAN OTHERSAverageUnit Price(in Rs/Ton)QTY(inTons)AverageUnit Price(in Rs/Ton)QTY(inTons)AverageUnit Price(in Rs/Ton)QTY (inTons)AverageUnit Price(in Rs/Ton)QTY(inTons)AverageUnit Price(in Rs/Ton)Port andProductwiseQuantityTotal (InTons)104 88170 358 75360 182 83121 644FERRO CHROME 1565 66577 140 70259 1260 71212 4257 70406 7222FERRO MANGANESE 1031 54398 804 56976 618 55169 2825 50387 3186 53748 8464FERRO MANGANESE 162 52995 162FERRO SILICOMANGANESE3182 52216 3965 55047 2105 56553 1175 57765 1761 57495 12188FERRO SILICON 54 67558 24 81365 78SILICO MANGANESE 4904 52236 6703 57626 4033 59987 5406 55683 14302 55680 35347MORMUGAO SILICO MANGANESE 112 74367 112VIZAGFERRO CHROME 448 65914 360 68638 2877 60933 10009 61059 13694FERRO MANGANESE 385 44955 164 57078 549FERRO SILICOMANGANESE318 70258 216 52281 884 64573 810 64228 2228FERRO SILICON 493 70085 513 69068 347 70721 1353SILICO MANGANESE 1116 58091 636 54550 320 56608 873 59865 2945Countrywise Quantity Total (in Tons) 13820 56321 13749 59240 11776 60709 9726 54068 35914 58822 84985Summarised Ferro Alloys Exports February - April ‘12FEB ‘12 MAR’12 APR’12 Product andPortwisePRODUCT CATEGORYPORTSAverage UnitAverage UnitAverage UnitQTYQTYQTYPricePricePrice Quantity Total(in Tons)(in Tons)(in Tons)(in Rs/Ton)(in Rs/Ton)(in Rs/Ton) (in Tons)FERRO CHROMEKOLKATA 6506 58298 8035 63738 7222 69861 21763VIZAG 25183 58285 19424 59538 13694 61668 58301FERRO MANGANESEKOLKATA 5390 51038 10982 48884 8464 52651 24836VIZAG 2591 57443 1271 52797 549 52229 4411COCHIN 291 69819 556 72942 847FERRO SILICO MANGANESE KOLKATA 17681 47720 17759 49592 12188 55408 47628VIZAG 3049 57620 750 68269 2228 63424 6027FERRO SILICONKOLKATA 607 66211 348 71088 78 74461 1033VIZAG 1297 52634 1792 66994 1353 69942 4442FERRO VANADIUM KOLKATA 3 70286 3KOLKATA 36194 48422 35347 55893 71541SILICO MANGANESEVIZAG 1637 57639 2945 58049 4581MORMUGAO 112 74367 112SILICON MANGANESEKOLKATA 40051 51280 40051VIZAG 2378 50238 2378FERRO SILICON MANGANESEKOLKATA 426 51984 426VIZAG 1652 50205 1652FERRO SILICO MANGANESE COCHIN 644 80082 644FERRO MANGANESE KOLKATA 162 52995 162Grand Total 100429 105423 84985 290837India Steel Market Watch 68May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSMn Ore imports April ‘12PORTS DATE COUNTRY ITEM DESCRIPTIONKOLKATA3-Apr-12SOUTH AFRICAUNIT PRICE(Rs/Ton)QTY (in Tons)MANGANESE ORE FINES (MN:47.70%) 10591 984MANGANESE ORE LUMPY (MN:47.50%) 11258 997AUSTRALIA MANGANESE ORE (GL-01) (MN 47 %) 11612 3636COTE D IVOIRE MANGANESE ORE LUMPY (MN 46.24%) 13709 1377MANGANESE ORE (W4L40) MN:43.55% 9235 42684-Apr-12MANGANESE ORE LUMPY (MN: 37.38%, FE: 4.76%, AL2O3: 0.26%,SOUTH AFRICA SIO2: 4.83%, P: 0.020%, H2O: 0.78%) (SIZE 6X75 MM)8958 496MANGANESE ORE LUMPY (MN: 37.38%, FE: 4.76%, AL2O3: 0.26%,SIO2: 4.83%, P: 0.020%,H2O: 0.78%) (SIZE 6X75MM)8958 496COTE D IVOIRE MANGANESE ORE LUMPY (MN:41.81 %) 12072 136110-Apr-128204 279SOUTH AFRICA MANGANESE ORE (M1L) (MN: 37.35%)8204 396511-Apr-12 SOUTH AFRICA MANGANESE ORE (MN 36.80%) 7944 20007944 74412-Apr-12 SOUTH AFRICA MANGANESE ORE (MN 36.80%)7944 9647944 292AUSTRALIA MANGANESE ORE (MF -02) (MN 49.7%) 10599 5108SOUTH AFRICA MANGANESE ORE (MN 36.80%) 7944 200013-Apr-12MANGANESE ORE 32.87% 7950 446TURKEYMANGANESE ORE 37.82% 9148 44111402 3716-Apr-12 COTE D IVOIRE MANGANESE ORE LUMPY (MN:42.97%)11402 56911402 55811402 21017-Apr-12 COTE D IVOIRE MANGANESE ORE LUMPS (MN:39.78%) 10760 1345MANGANESE ORE (GL-01) (MN 47%) 11612 7851AUSTRALIAMANGANESE ORE (GL-01) (MN 47.2%) 11662 2617MANGANESE ORE (MF-02) (MN 49.3%) 10386 4162MANGANESE ORE (MF-02) (MN:48.8%) 13385 326811431 561COTE D IVOIRE MANGANESE ORE LUMPS (MN 41.86%)11431 81018-Apr-128039 2842MANGANESE ORE (MN 36.80%)8039 1825SOUTH AFRICA8039 332MANGANESE ORE LUMPY SIZE:6 X 75MM (MN 36.50%) 7569 5337MANGANESE ORE LUMPY SIZE:6 X 75MM. (MN 36 .50%) 7569 5337TOGO MANGANESE ORE (MN 41.63%) 10009 507AUSTRALIA MANGANESE ORE (GL-01) (MN: 47%) 11612 622719-Apr-12 COTE D IVOIREMANGANESE ORE LUMPS (MN-42.10) 12484 1375MANGANESE ORE LUMPY (MN:40.62 %) 10564 1361SOUTH AFRICA MANGANESE ORE (MN: 36.85%) 8242 440020-Apr-12COTE D IVOIRE MANGANESE ORE LUMPY (MN:42.15 %) 12015 1406SOUTH AFRICA MANGANESE ORE LUMPY (MN:47.10 %) 11637 99023-Apr-12COTE D IVOIRE MANGANESE ORE LUMPY MN 41.57% 11295 1389SOUTH AFRICA MANGANESE ORE (M1L) (MN: 37.43%) 8142 1068326-Apr-12 COTE D IVOIRE MANGANESE ORE LUMPS (MN:42.59%). 12015 1365India Steel Market Watch 69May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSMn Ore imports April ‘12, Contd...PORTS DATE COUNTRY ITEM DESCRIPTIONKOLKATA28-Apr-12AUSTRALIA MANGANESE ORE (GL-01) MN 47.20%SOUTH AFRICAUNIT PRICE(Rs/Ton)QTY (in Tons)11900 68111900 365111900 903MANGANESE ORE (M1L) (MN 37.43%) 7982 2671MANGANESE ORE (MN 36.85%) 8146 6600MANGANESE ORE (W4L40) MN43.55% 9627 2134MANGANESE ORE ASSMANG GLORIA LUMPY (MN 37.7%) 8040 327230-Apr-12 SOUTH AFRICA MANGANESE ORE NCHWANING LUMPY MN :44.9% 10627 3266KOLKATA Total 120397MORMUGAO 20-Apr-12 INDONESIA MANGANESE ORE (GRADE 49.42%) 18878 45MORMUGAO Total 45PARADIP 23-Apr-12 AUSTRALIA MANGANESE ORE11656 538011656 760011427 76007985 10869PARADIP Total 31449VIZAG3-Apr-12 INDONESIA MANGANESE ORE 15758 514-Apr-12 AUSTRALIA MANGANESE ORE 9684 40009-Apr-12AUSTRALIAINDONESIAMANGANESE ORE (MF-02)(MN49.7%@USD3.96/DMTU)10237 378410237 7847MANGANESE ORE 18134 51MANGANESE ORE (MN - 51.16%) 13680 8310-Apr-12 AUSTRALIA MANGANESE ORE (GL-01) 11761 522913-Apr-12 AUSTRALIA MANGANESE ORE (MF-02) MN - 49.7%18-Apr-1220-Apr-1223-Apr-12OMAN10082 305310082 3710082 169410082 550610858 1418LUMPY MANGANESE ORE(MN 25.43%@USD 4 PDMT) 5075 290LUMPY MANGANESE ORE(MN25.43%@USD4PDMT)5075 735074 2SOUTH AFRICA MANGANESE ORE 7761 3240AUSTRALIA MANGANESE ORE LUMP (MN-38.08%) 8589 3543SOUTH AFRICASOUTH AFRICAMANGANESE ORE (M1L) MN - 37.1%MANGANESE ORE (M1L)(MN37.43%@USD4.1/DMTU)7912 74167912 52977982 26717982 1068MANGANESE ORE (W4F) MN - 42.77% 7786 3682MANGANESE ORE (M1L)(MN37.43%@USD4.1/DMT) 7982 1603MANGANESE ORE ASSMANG NCHWANING LUMPY ( MN 44.90%) 10627 5444MANGANESE ORE GLORIA LUMPY (37% @ USD 4.10 DMTU) 8040 545325-Apr-12 SOUTH AFRICA MANGANESE ORE GLORIA LUMPY(MN37.7%@USD4.10/DMTU)8040 35158040 1284426-Apr-12 SOUTH AFRICA MANGANESE ORE NCHWANING LUMPY (45.20%MN @USD4.55 CIF) 15775 1090VIZAG Total 89981Grand Total 241872India Steel Market Watch 70May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSPORTSKOLKATAMn OreContentCOUNTRY OF ORIGINSOUTH AFRICA AUSTRALIA COTE D IVOIRE TURKEY OTHERSQTY (inTons)AverageUnit Price(in Rs/Ton)QTY (inTons)AverageUnit Price(in Rs/Ton)QTY (inTons)AverageUnit Price(in Rs/Ton)QTY (inTons)AverageUnit Price(in Rs/Ton)QTY (inTons)AverageUnit Price(in Rs/Ton)Port andProductwiseQuantityTotal (InTons)32.87 446 7950 44636.5 10673 7569 1067336.8 11000 7980 1100036.85 11000 8194 1100037.35 4244 8204 424437.38 992 8958 99237.43 13354 8062 1335437.7 3272 8040 327237.82 441 9148 44139.78 1345 10760 134540.62 1361 10564 136141.57 1389 11295 138941.63 507 10009 50741.81 1361 12072 136141.86 1371 11431 137142.1 1375 12484 137542.15 1406 12015 140642.59 1365 12015 136542.97 1374 11402 137443.55 6402 9431 640244.9 3266 10627 326646.24 1377 13709 137747 17715 11612 1771547.1 990 11637 99047.2 7852 11841 785247.5 997 11258 99747.7 984 10591 98448.8 3268 13385 326849.3 4162 10386 416249.7 5108 10599 5108KOLKATA Total 67174 8673 38106 11541 13723 11670 887 8549 507 10009 120397MORMUGAO 49.42 45 18878 45MORMUGAO Total 45 18878 45PARADIP 31449 10681 31449PARADIP Total 31449 10681 31449VIZAG25.43 365 5075 36537 5453 8040 545337.1 12712 7912 1271237.43 5342 7982 534237.7 16358 8040 1635838.08 3543 8589 354342.77 3682 7786 368244.9 5444 10627 544445.2 1090 15775 109049.7 23339 10237 2333951.16 83 13680 833240 7761 9229 10722 101 16946 12570VIZAG Total 53322 8820 36111 10169 549 10466 89981Countrywise QuantityTotal (in Tons)Summarised Mn Ore import April ‘12120496 105666 13723 887 1100 241872India Steel Market Watch 71May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSPORTMn Ore ContentCHENNAI 36.32 514 9767COCHINKOLKATASummarised Mn Ore import February - April ‘12FEB ‘12 MAR ‘11 APR ‘11 Port andAverage UnitAverage UnitAverage Unit ProductwiseQTY (in Tons) Price (in Rs/Ton)QTY (in Tons) Price (in Rs/Ton)QTY (in Tons) Price (in Rs/Ton)Quantity Total(In Tons)200 35418 20026 484 5129 48438 1095 9060 109531.2 845 8463 84536.1 1496 8969 149637.08 3850 8272 7150 8253 1100037.28 16158 7750 1615837.35 4244 7764 4244 8204 848837.63 4244 7822 7427 7858 1167143.55 4268 9384 6402 9431 1066943.8 5234 8159 523443.93 5292 8180 529245.2 8293 10427 8465 10303 1675845.5 5215 11073 521545.6 5167 9479 516746.7 5390 9320 539046.8 3631 11271 11934 11203 1556547 16463 11915 3636 11139 17715 11612 3781447.1 990 11637 99047.2 7852 11841 785247.5 3123 13206 997 11258 412047.95 1343 12764 134348.01 1404 15279 140448.8 4669 13385 3268 13385 793749.3 5074 13523 4162 10386 923750.2 1478 15971 147850.25 1432 16298 143250.4 1406 16298 140650.64 525 15405 52551.2 161 12331 161216 13943 21646.64 1365 14044 136547.53 1376 14044 137649.85 470 14280 47047.84 1042 13075 104237.38 12700 8302 992 8958 1369245.9 1404 11426 140447.3 3629 11210 362947.7 3636 11139 984 10591 462047.4 1037 11234 103744.85 1379 11189 137944.65 1352 11027 135236.75 10500 7783 1050037.82 877 8775 441 9148 131837.81 1999 8208 199936.88 9552 6360 955238.25 5009 8286 5009514India Steel Market Watch 72May 23, 2012

FERRO ALLOYS & COKING COAL TRENDSSummarised Mn Ore import February - April ‘12, Contd...FEB ‘12 MAR ‘11 APR ‘11 Port andPORT Mn Ore ContentAverage UnitAverage UnitAverage Unit ProductwiseQTY (in Tons) Price (in Rs/ QTY (in Tons) Price (in Rs/ QTY (in Tons) Price (in Rs/ Quantity TotalTon)Ton)Ton)(In Tons)KOLKATAMORMUGAO38.01 217 8564 21736.5 19261 7467 10673 7569 2993538.1 11357 6368 1135746.24 1377 13709 137749.7 5108 10599 510844.9 3266 10627 326641.81 1361 12072 136142.97 1374 11402 137442.1 1375 12484 137542.15 1406 12015 140641.57 1389 11295 138942.59 1365 12015 136540.62 1361 10564 136136.8 11000 7980 1100039.78 1345 10760 134541.63 507 10009 50741.86 1371 11431 137136.85 11000 8194 1100037.43 13354 8062 1335437.7 3272 8040 327232.87 446 7950 44649.65 51 19001 5182 27267 8249.22 183 17934 18349.42 45 18878 45PARADIP 31449 10681 31449VIZAGMonthwise Quantity Total (inTons)36.1 2378 9060 237836.2 847 9870 84736.32 971 8287 97137.1 12712 7912 1271245.2 2180 10427 1090 15775 327046.7 14014 9500 1401446.8 9734 9550 973452.61 81 13997 818250 9317 3452 8695 12570 12619 2427237.38 8533 8262 853338.1 7882 6512 788253.66 140 15137 14050.11 82 13621 8249.42 150 13022 15049.7 23339 10237 2333944.9 5444 10627 544437.43 5342 7982 534237.7 16358 8040 1635851.16 83 13680 8325.43 365 5075 36542.77 3682 7786 368237 5453 8040 545338.08 3543 8589 3543129468 169231 241872 540571India Steel Market Watch 73May 23, 2012

IMPORT - EXPORT DATAPRODUCTCATEGORYCHROME OREPig Iron and Chrome Ore Imports through major Indian ports April ‘12PORT COUNTRY OF ORIGIN DATE ITEM DESCRIPTIONUNIT PRICE(in Rs/Ton)QTY(in Tons)KANDLA UNITED ARAB EMIRATES 16-Apr-12 OMAN CHROME ORE CONCENTRATE 8938 932.10VIZAGOMAN20-Apr-1223-Apr-12HARD LUMP CHROME ORE (CR2O3 - 29.30%) 6861 685.50HARD LUMP CHROME ORE (CR2O3 - 29.31%) 6864 682.49HARD LUMP CHROME ORE (CR2O3 - 29.80%) 6979 592.64HARD LUMP CHROME ORE 8962 703.45HARD LUMP CHROME ORE OF OMAN (CR2O3- 30.47%)HARD LUMP CHROME ORE OF OMAN (CR2O3- 30.81%)HARD LUMP CHROME ORE OF OMAN (CR2O3- 33.46%)HARD LUMP CHROME ORE OF OMAN (CR2O3-33.46%)7680 511.737766 459.078962 477.958962 518.89CHROME ORE Total 5563.82PIG IRON KOLKATA GERMANY 27-Apr-12PIG IRON (TYPE 240) MATERIAL COMP. SI: 3.19% C: 3.72 % MN:0.78 % P: 0.130 % S: 0.033 %39384 216.00PIG IRON Total 216.00Grand Total 5779.82PRODUCTCATEGORYPig Iron and Sponge Iron Exports out of major Indian ports April ‘12PORTDESTINATIONCOUNTRYDATEITEM DESCRIPTIONUNIT PRICE(in Rs/Ton)QTY(in Tons)INDONESIA 27-Apr-12 FOUNDRY PIG IRON 31283 220.00KOLKATASPAIN 27-Apr-12 PIG IRON 28769 159.00PIG IRONSRI LANKA 16-Apr-12 FOUNDARY PIG IRON 31541 27.50MORMUGAOSRI LANKA 25-Apr-12 PIG IRON 33769 25.00YEMEN 16-Apr-12 PIG IRON GRADE FG-20 34822 27.00PIG IRON Total 458.50SPONGE IRON KOLKATA KUWAIT11-Apr-12 SPONGE IRON 27942 216.0017-Apr-12 SPONGE IRON 27838 161.10SPONGE IRON Total 377.10Grand Total 835.60India Steel Market Watch 74May 23, 2012

IMPORT - EXPORT DATASteel imports through Major Indian Ports April ‘12, Contd...COUNTRY OF ORIGINCATEGORYPORTQTY (inTons)CHINAAverageUnit Price(in Rs/Ton)REPUBLIC OFKOREAQTY (inTons)AverageUnit Price(in Rs/Ton)QTY (inTons)JAPAN OMAN OTHERSAverageUnit Price(in Rs/Ton)QTY (inTons)AverageUnit Price(in Rs/Ton)QTY (inTons)AverageUnit Price(in Rs/Ton)ProductandPortwiseQuantityTotal (InTons)COCHIN 100 25774 29680 27000 29780KANDLA 25002 29445 25002KOLKATA 87 25279 37095 28347 37182SCRAPMORMUGAO 7496 26476 7496MUMBAI 20 16160 20MUNDRA 7778 27564 7778VIZAG 1726 112844 8431 73179 10157KANDLA 1487 77966 793 111847 2279STAINLESSSTEELPRODUCTSKOLKATA 22 71521 22MUMBAI 952 97741 623 105855 561 267631 805 160777 2941MUNDRA 94 101429 94STRIPSKOLKATA 1 170951 12 131184 12MUMBAI 4 154986 4KANDLA 932 47025 740 48728 1672TINPLATES &TMBPKOLKATA 172 54925 172MUMBAI 734 56947 734KANDLA 2189 50461 5087 58560 7276VALUE ADDEDPRODUCTSKOLKATA 436 41678 2645 48766 3082MORMUGAO 8 54358 8MUMBAI 797 59539 1957 72085 3738 56678 6493COCHIN 222 52725 222KANDLA 1323 48942 146 60816 162 53197 1631KOLKATA 233 142286 97 176233 124 86657 656 72242 1110WIRES & WIRERODSMORMUGAO 72 67793 72MUMBAI 22870 57291 114 114509 20 57009 9827 43475 32831MUNDRA 64 66260 120 83628 183VIZAG 3137 32976 685 70696 3822Countrywise Quantity Total(In Tons)185970 114265 56051 44100 259204 659590India Steel Market Watch 76May 23, 2012

IMPORT - EXPORT DATACRSC (Alloy & NA) Import from select port during April 2012(different colour code represents different transaction on mentioned date/port)465384483146239Rs/Ton518314638948250485415575367582365334444141406440745148252431514326469864698510425009645289807936742667426499204806450698495024300641385535413808551332 48074 53514 430203-Apr-12MUMBAICRSC (ALLOY)10-Apr-12 11-Apr-12 16-Apr-12 17-Apr-12 24-Apr-12 2-Apr-12MUMBAICRSC (ALLOY)MUMBAICRSC (NA)10-Apr-12 13-Apr-12 16-Apr-12 25-Apr-12MUMBAICRSC (NA)CRC Import from select port during April 2012(different colour code represents different transaction on mentioned date/port)461904428845754460574927837822500084944848810429385180539221400524593944541480494996845986 44096441764536844653 4647848080 5008648757 488104904949747488104011252213 5306439378 38486 3766538768 38244 3745952248537795148251482Rs/Ton44446 4724347636 46015 4486948080 4599746986 467264881051727 4964337752 37752 377523772051032480493766537490 377790.6 0.65 0.7 0.8 0.88 1 1.2 1.25 1.4 1.5 1.6 1.8 24-Apr-12KANDLACRC7-Apr-12 9-Apr-12 10-Apr-12 12-Apr-12 17-Apr-12 20-Apr-12KANDLA21-Apr-12 23-Apr-12 24-Apr-12 26-Apr-12 27-Apr-12 30-Apr-12 3-Apr-12MUMBAICRC0.38 0.55 0.6 0.65 0.7 0.8 1 1.15 1.2 1.4 1.5 1.55 1.6 1.9 2 34-Apr-12 11-Apr-12 24-Apr-12MUMBAIIndia Steel Market Watch 77May 23, 2012

IMPORT - EXPORT DATAStainless Steel HRC Products Import from select port during April 2011(different colour code represents different transaction on mentioned date/port)148243138905Rs/Ton14824313035013890560054735379-Apr-12KANDLASS HRCKANDLA27-Apr-124-Apr-12MUMBAISS HRC20-Apr-12MUMBAI24-Apr-122.8 3 3.15 4 4.25 6Stainless Steel CRC Products Import from select port during April 2011(different colour code represents different transaction on mentioned date/port)91122130212122252Rs/Ton109243727911545587164013435471640791007164011752773903791007164071640 71640739037910071640 796477180313215373903 75705791001014299-Apr-12KANDLASS CRC10-Apr-12 11-Apr-12KANDLA12-Apr-12 30-Apr-12 7-Apr-12MUMBAISS CRCMUMBAI17-Apr-1220-Apr-12MUNDRA0.5 0.6 0.8 1 1.15 1.2 1.5 1.9 1.95 2 3India Steel Market Watch 79May 23, 2012

IMPORT - EXPORT DATAEG Coils Import from select port during April 2012(different colour code represents different transaction on mentioned date/port)63666Rs/Ton6366663666640405435863666 636666148110-Apr-12MORMUGAOEG COILS10-Apr-12MUMBAIEG COILS11-Apr-12MUMBAI17-Apr-120.7 0.8 0.95 1 1.2 2GA Import from select ports during April 2012(different colour code represents different transaction on mentioned dat494305126748988641705785051258571815266454557478985607656453738345846060980Rs/Ton50125 52170 47959 5010147459 50144 48131 4795949280 48668 48165 51307 4834964195 54959 60709 5847455553 54755 56623 5816158549 57684 55124 551715400751154534467383467494741005042758210 5481056771 55317554284-Apr-12KANDLAGA7-Apr-12 9-Apr-12 10-Apr-12 11-Apr-12 12-Apr-12 18-Apr-12 20-Apr-12 26-Apr-12 2-Apr-12KANDLAMUMBAIGA3-Apr-12 10-Apr-12 11-Apr-12 16-Apr-12 30-Apr-12MUMBAI0.4 0.63 0.65 0.7 0.8 1 1.2 1.4 1.6 1.8 2 2.3 2.6India Steel Market Watch 80May 23, 2012

IMPORT - EXPORT DATASteel Imports through major Indian Ports February - April ‘12CR PRODUCTSCATEGORYDEFECTIVES & SECONDARYPRODUCTSHR PRODUCTSLONG PRODUCTSOTHER FLAT PRODUCTSOTHER PRODUCTSPLATES & SLABSPORTQTY (inTons)FEB ‘12 MAR ‘12 APR ‘12 Product andAverage UnitAverage UnitAverage Unit PortwiseQTY (inQTY (inPrice (in Rs/Price (in Rs/Price (in Rs/ Quantity TotalTons)Tons)Ton)Ton)Ton)(In Tons)CHENNAI 13460 54146 30737 52742 44198COCHIN 21 97511 19 90128 39KANDLA 16217 49479 9661 48123 18887 44798 44764KOLKATA 26 115363 256 99209 176 104030 458MUMBAI 37409 40429 32028 48429 105054 41431 174491MUNDRA 6 63751 6CHENNAI 8043 34564 11806 29084 19848KOLKATA 4894 30116 5571 25802 6793 27504 17258MUMBAI 9832 42355 15349 54734 9546 61313 34727CHENNAI 45819 43458 16617 46767 62436KANDLA 40776 42092 47282 36771 35552 40933 123611KOLKATA 4921 44914 3246 36850 8167MUMBAI 205362 34580 153037 36096 90522 35054 448921MUNDRA 20744 32940 20689 36264 29312 36545 70746VIZAG 9961 49116 7887 45930 17848CHENNAI 13586 144764 12881 126843 26467COCHIN 137 31535 410 32056 546KANDLA 15457 53754 4302 34092 26366 34530 46124KOLKATA 450 77530 125 98283 764 120549 1339MANGALORE 157 64660 85 65003 40 65973 282MUMBAI 31081 45108 3648 81014 16781 74580 51510MUNDRA 962 46485 9957 41398 1927 52045 12847VIZAG 834 34692 834CHENNAI 1103 90405 1370 108340 2473KANDLA 1490 40524 1518 68243 907 122814 3915KOLKATA 450 53874 1010 84770 16 85446 1475MORMUGAO 41 45569 81 47389 121MUMBAI 369 71074 19541 42518 1924 31949 21835MUNDRA 27 65830 27 61070 54VIZAG 2 2CHENNAI 1983 97891 1765 93182 3748KANDLA 13592 23676 5000 22789 72 53574 18664KOLKATA 70 138539 303 100813 179 76817 552MANGALORE 3 65003 0.4 67599 4MORMUGAO 1 90890 1 90965 6 103900 8MUMBAI 0 333271 0MUNDRA 177 45788 234 45241 158 46496 569VIZAG 48 50478 44000 22087 44048CHENNAI 8466 71484 2054 73640 10521COCHIN 244 53629 176 51173 420KANDLA 5322 41584 242 40921 5564KOLKATA 586 84465 625 75871 637 95414 1848India Steel Market Watch 81May 23, 2012

IMPORT - EXPORT DATASteel Imports through major Indian Ports February - April ‘12, Contd...PLATES & SLABSSCRAPSTAINLESS STEEL PRODUCTSSTRIPSCATEGORYTINPLATES & TMBPVALUE ADDED PRODUCTSWIRES & WIRE RODSPORTQTY (inTons)FEB ‘12 MAR ‘12 APR ‘12 Product andAverage UnitAverage UnitAverage Unit PortwiseQTY (inQTY (inPrice (in Rs/Price (in Rs/Price (in Rs/ Quantity TotalTons)Tons)Ton)Ton)Ton)(In Tons)MANGALORE 6 89064 6MUMBAI 29966 82094 55042 86260 15677 82714 100686MUNDRA 86082 40672 112568 39937 68456 51605 267105VIZAG 10459 32059 6 84814 10466CHENNAI 131535 25952 102311 26489 233846COCHIN 14987 27021 26810 25027 29780 26989 71578KANDLA 23479 29178 22015 31000 25002 29445 70496KOLKATA 47153 26341 36326 25845 37182 28307 120660MORMUGAO 6755 26602 3836 25788 7496 26476 18086MUMBAI 87 18867 5 14140 20 16160 113MUNDRA 50755 24405 19105 26301 7778 27564 77639VIZAG 46022 53540 41589 48920 10157 75559 97768CHENNAI 1009 167309 1306 163226 2315KANDLA 4177 98846 1498 105427 2279 93642 7955KOLKATA 46 291624 575 143419 22 71521 643MORMUGAO 4 304406 4MUMBAI 2955 145400 2753 142216 2941 168520 8649MUNDRA 94 101429 94VIZAG 21 171996 21CHENNAI 712 111644 1019 120029 1732KOLKATA 11 76147 49 189275 12 151067 72MUMBAI 4 112958 4 154986 8VIZAG 1 1CHENNAI 1051 65124 836 61082 1887KANDLA 878 50780 486 51023 1672 47726 3036KOLKATA 787 53273 172 54925 958MUMBAI 237 60898 656 55062 734 56947 1626MUNDRA 26 84343 26CHENNAI 17768 65321 16645 68067 34413KANDLA 6684 60365 5681 58499 7276 56919 19641KOLKATA 0 23 78633 3082 44715 3105MORMUGAO 68 57794 27 52271 8 54358 102MUMBAI 4518 64918 18750 57860 6493 63670 29761CHENNAI 18217 113434 5202 95162 23419COCHIN 80 144625 251 55328 222 52725 554KANDLA 1366 49604 1705 52554 1631 49882 4702KOLKATA 334 85080 830 83324 1110 123778 2273MORMUGAO 38 65152 18 64363 72 67793 128MUMBAI 3293 55068 4822 72341 32831 64613 40946MUNDRA 325 57434 133 153514 183 70120 641VIZAG 100 27021 306 34626 3822 45549 4228Countrywise Quantity Total (in Tons) 1024315 900771 659590 2584676India Steel Market Watch 82May 23, 2012

IMPORT - EXPORT DATASteel Exports through major Indian Ports - February - April ‘12PRODUCT CATEGORYPORTSQuantity (inTons)FEB ‘12 MAR ‘12 APR ‘12Average UnitPrice (in Rs/Ton)Quantity (inTons)Average UnitPrice (in Rs/Ton)Quantity(in Tons)Average UnitPrice (in Rs/Ton)PRODUCT ANDPORTWISEQUANTITY (inTons)CR PRODUCTS KOLKATA 7946 39952 7238 40685 7279 44759 22464DEFECTIVES &SECONDARY PRODUCTSKOLKATA 260 36522 622 35596 883KOLKATA 216 36231 1560 37926 1777HR PRODUCTSMORMUGAO 26848 31292 36608 31694 43566 33541 107022VIZAG 1017 41602 1017COCHIN 28 43680 28LONG PRODUCTSKOLKATA 866 48011 837 41293 7376 51819 9079MORMUGAO 19 46122 19VIZAG 2050 45674 18736 36118 1428 49631 22214OTHER FLAT PRODUCTS KOLKATA 94 33955 171 62710 56 59360 321COCHIN 21 151573 21OTHER PRODUCTSKOLKATA 831 92192 690 39263 74 68463 1595VIZAG 367 35672 367PLATES & SLABSKOLKATA 58 95673 58VIZAG 5031 30183 704 34201 23200 31143 28935STAINLESS STEELPRODUCTSKOLKATA 1404 108913 761 152004 14 #DIV/0! 2178VIZAG 3971 110960 8332 87300 6791 101985 19094STRIPS KOLKATA 124 64940 78 76147 87 72818 290TINPLATES & TMBP KOLKATA 1823 52220 3444 52191 2437 50077 7705VALUE ADDEDPRODUCTSKOLKATA 13103 48724 15316 49976 13224 52170 41644VIZAG 5986 37251 5986WIRES & WIRE RODS KOLKATA 1039 68610 1457 60915 1480 62957 3976MONTHWISE QUANTITY (in Tons) 65649 65360 103302 61311 107720 68936 276671India Steel Market Watch 83May 23, 2012