Amidst the currently prevailing volatile and speculative steel price scenario in India, SteelGuru.com has started the much needed barometer to track and measure the price movements on daily basis.
The domestic steel prices across various locations in India are different due to variety of factors and the day to day changes are also different. It is seen that when the price of a particular item goes up at one location either the increase is not similar at other locations or at times it decreases at some locations
In addition to price movement, market size at various locations is another factor as a smaller price variation at a major location would have bigger implications and bearing than a major change at a minor location.
In other words, although general statements based on perception can be made that whether prices are up or down, it was not possible to give specific or reality based definite pricing trends and overall implications.
In order to provide an index for steel prices, we call it SENSEX for steel, SteelGuru.com decided to work on both long products and flat products for respective category indices as also a composite one for steel. We call them ILPPI, IFPPI and INDSPI and have started releasing these indices with effect from July 1st 2008, after taking June 30th 2008 as base of 10,000 for all products.
ILPPI is based on daily market prices of three benchmark products rebars, wire rod and sections whereas IFPPI is based on HRC, plates, CR and HDG. These indices have been built considering their respective weights in the composite categories as also in the shares of sales in the important markets.
The pricing input is from www.steelprices-india.com, which publishes market transaction prices of benchmark products among select locations 5 days a week.
These price indices outline the way domestic steel market is moving day by day and will help producers, agents in the supply chain, steel buyers, bankers and analysts in their respective businesses.
To know more, please visit
http://steelprices-india.com/spi_services/spi.html
To download a presentation please paste this link in your browser
http://www.steelprices-india.com/uploads/Steel_Price_Index_Presentation.pps
You can now get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert
To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com with contact details. This is a paid service and will keep you in tune with daily happenings in Indian and global steel markets for steel prices.
(Sourced from www.steelprices-india.com)
