The long product prices continued its onward journey after momentary corrections as witnessed towards the end of last week. The velocity already set ascendant since December 10th there seemed no end to the progression.
Finally in the pink of construction season there has been some activity in this beleaguered segment at last giving the impetus.
Pencil Ingot prices have seen standalone charge owing to scrap prices reaching Himalayan levels. Moreover with winter setting in the supply of scrap has got constricted compounded by a recent strike at Alang port.
Demand having picked up in unequal measures when compared to the spike in input prices there will always be a lurking fear about a collapse. It is evident in the pattern of price ascendency wherein growth has been subdued in finished products but surfeit in pencil ingot and sponge iron prices is evident.
Pencil Ingot
| Location | Change |
| Mumbai | 300 |
| Chennai | 0 |
| Kolkata | 0 |
| Mandi | 376 |
| Raipur | 500 |
| Alang | 200 |
| Kanpur | 0 |
| Rudrapur | 0 |
| Ahmedabad | 0 |
| Ghaziabad | 700 |
| Muzzafarnagar | 785 |
| Hyderabad | 300 |
| Raigarh | 400 |
| Durgapur | 589 |
| Nagpur | 997 |
| Jamshedpur | 900 |
| Jaipur | 1200 |
| Rourkela | 300 |
| Bhiwari | 700 |
| Ludhiana | 349 |
Change is on Dec 27th 2010 as compared to Dec 24th 2010
In INR per tonne
TMT
Fe 500
12mm
| Location | Change |
| Mumbai | 344 |
| Chennai | 0 |
| Kolkata | 0 |
| Delhi | 385 |
| Mandi | 312 |
| Raipur | 0 |
| Kanpur | 0 |
| Rudrapur | 0 |
| Ahmedabad | 0 |
| Hyderabad | 1500 |
| Indore | 400 |
| Bangalore | 0 |
| Muzzafarnagar | 0 |
Change is on Dec 27th 2010 as compared to Dec 24th 2010
In INR per tonne
With most of the mills flexing to revise prices in January by another INR 500 per tonne to INR 1000 per tonne the roller coaster is expected to accelerate in the coming week giving an apposite New Year wishes for a bedraggled market.
www.steelprices-india.com is a comprehensive portal that provides domestic pricing information for benchmark steel products in each category at select location in India on a regular basis 5 days a week and international price levels on a weekly basis.
As steel in each category comes in hundreds of grades shapes and sizes, we have taken benchmark products in each category at select locations to cover the entire basket of garden variety of steel products including input material for steel making and processing.
Products covered
1. Input materials - Iron ore, scrap, sponge iron, pig iron pencil ingot, billets and blooms
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