Day 2 the drama of rally in long product prices terminated exposing the real levels. Subterfuge evident in the last few days saw light of the day as the mills opted for roll over. Indian mills were still susceptible in risking a hike with economic headwinds yet to abate.
Impact of the excitement fizzling away prices plummeted all over India. However a belated rally in steel prices cannot be over ruled so soon. With economic headlines making waves of late as inflation plummets and economic growth picks up in the penultimate months before culmination of FY ’12.
Till than market will stay put swinging to speculative calypso
Unit Converters:
Price Index
01-Feb
31-Jan
25-Jan
WoW
WoW
02-Jan
MoM
MoM
01-Feb
YoY
YoY
ILPPI
9055
9056
9046
8912
8046
IFPPI
8897
8886
8853
8812
8640
INDSPI
8980
8975
8954
8864
8329
01-Feb
31-Jan
19-Jan
WoW
WoW
05-Jan
MoM
MoM
10-Feb
YoY
YoY
CLPPI
7580
7578
7562
7665
7553
CFPPI
6717
6721
6709
6729
7676
CHISPI
7091
7092
7078
7134
7623
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
02 Feb, 2012
Zn
2092
Ni
20900
Sn
24050
Al
2200
Cu
8338
Source: LME.co.uk
NEWS ARCHIVE
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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
02 Feb, 2012
BDI
651
BCI
1445
BPI
681
BSI
620
Source: DryShips.com
Currency Rate
03 Feb, 2012
USD
1.0000
AUD
0.9358
BRL
1.7197
CAD
0.9995
CNY
6.3060
EUR
0.7618
GBP
0.6326
INR
49.1770
JPY
76.1831
RUB
30.2160
ZAR
7.6564
Source: http://www.xe.com
