The Indian Steel Price Index exhibited nominal correction on February 19th 2009. The Indian Long Product Price Index (ILPPI) improved by 17 points whereas the Indian Flat Product Price Index (IFPPI) remained unchanged. The overall Indian Steel Price Index (INDSPI) crept up by 9 points.
Thus the prices seems to have bottomed out as there has not been any major dip in the last couple of days except for minor fluctuations due to transient local sentiments.
However this state is expected to last without any significant rally owing to political fundamentals rather than economics till the new government is in place whereby anticipation of policy changes can give some succor to the market.
| Class | 18-Feb | 19-Feb | Change |
| ILPPI | 6655 | 6672 | 17 |
| IFPPI | 6550 | 6549 | 0 |
| INDSPI | 6605 | 6613 | 9 |
ILPPI - Long Product Price Index
IFPPI - Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products:
| Category | 18-Feb | 19-Feb | Change |
| PI - TMT | 6438 | 6485 | 47 |
| PI - WRC | 7129 | 7123 | -6 |
| PI - Angle | 6286 | 6288 | 1 |
| PI - Channel | 6331 | 6337 | 6 |
| PI - Joist | 5887 | 5891 | 4 |
Change on February 19th is as compared to February 18th 2009
Flat Products:
| Category | 18-Feb | 19-Feb | Change |
| PI - Narrow Plates | 6164 | 6160 | -4 |
| PI - Wide Plates | 6592 | 6592 | 0 |
| PI - Hot Rolled | 6393 | 6393 | 0 |
| PI - Cold Rolled | 7099 | 7099 | 0 |
| PI Galvanized | 6786 | 6786 | 0 |
Change on February 19th is as compared to February 18th 2009
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(Sourced from www.steelprices-india.com)
