As the winter mist clears the reality seems to be dawning upon the market. Even though mills have been vying for the elusive stability in prices for long and flat the grip is loosening.
One is reminiscent of the rally in billet prices being triggered by the seasonal shortage of scrap. Mills as well as traders attempted to create a momentum in the market based on sentiments rather on demand. But steel billet price significantly dropped during the course of the week and are now inching down to USD 600 CFR levels. Generally, the semis went down by USD 10 per tonne to USD 20 per tonne during this week taking total loss to USD 30 per tonne to USD 40 per tonne.
Unit Converters:
Price Index
27-Jan
25-Jan
20-Jan
WoW
WoW
27-Dec
MoM
MoM
27-Jan
YoY
YoY
ILPPI
9066
9046
9057
8896
8068
IFPPI
8864
8853
8852
8811
8537
INDSPI
8970
8954
8959
8856
8291
20-Jan
19-Jan
13-Jan
WoW
WoW
20-Dec
MoM
MoM
20-Jan
YoY
YoY
CLPPI
7562
7562
7580
7780
7437
CFPPI
6710
6709
6711
6770
7553
CHISPI
7079
7078
7087
7207
7503
19-Jan
12-Jan
05-Jan
WoW
WoW
15-Dec
MoM
MoM
13-Jan
YoY
YoY
MLPPI
5065
5065
5065
4999
5096
MFPPI
5994
5994
5994
6016
6192
MEASPI
5346
5346
5346
5307
5428
Live Tenders
Metal Rate
26 Jan, 2012
Zn
2178
Ni
21345
Sn
23325
Al
2231
Cu
8555
Source: LME.co.uk
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Weekly Poll
Metal Buildings and Steel Structures Expo 2012 (12 Apr, 2012 - 14 Apr, 2012)
Guangzhou International Metal and Metallurgy Exhibition (19 Jun, 2012 - 21 Jun, 2012)
Baltic Dry Index
27 Jan, 2012
BDI
726
BCI
1465
BPI
815
BSI
695
Source: DryShips.com
Currency Rate
30 Jan, 2012
USD
1.0000
AUD
0.9440
BRL
1.7423
CAD
1.0030
CNY
6.3189
EUR
0.7587
GBP
0.6364
INR
49.3760
JPY
76.6725
RUB
30.2043
ZAR
7.7865
Source: http://www.xe.com
