Surprisingly, Indian steel prices for both longs and flats exhibited tendencies contrary to general expectations and moods.
The prices of long products in India, after falling for 9 consecutive days till January 11th 2010 from peak on January 4th 2010, have shown some signs of revival on January 13th, January 14th 2010 and January 15th 2010. Market players were expecting higher correction and this rebound defies that theory.
On the other hand, despite increase in flat product price by Indians steel majors on wef January 2010 and firming up of global levels, flat product prices weakened last week.
The Indian Long Product Price Index ILPPI has gained 81 points or 1.1% in last 2 days reflecting signs of recovery.
| Class | 12-Jan | 15-Jan | Change | % |
| ILPPI | 7036 | 7116 | 81 | 1.1% |
ILPPI - Indian Long Product Price Index
While, after last peak on January 5th, flat product prices in India posted a loss of 1.1%
IFPPI - Indian Flat Product Price Index
| Class | 05-Jan | 15-Jan | Change | % |
| IFPPI | 7602 | 7504 | -99 | -1.3% |
Secondary market players have again become bullish as they feel that long product price are close to bottom and we shall be seeing recovery n coming months. However possibility of further correction by INR 500 per tonne to INR 1000 per tonne is not ruled out completely.
A demand pick up is being seen due to rush by companies to complete ongoing projects before the culmination of current FY. Moreover, last quarter being traditionally peak season for construction it augurs well for long products.
Indian domestic steel prices continued to exhibit strong upward sentiments last week. The Indian Long Product Price Index ILPPI decreased by 64 points whereas Indian Flat Products Index IFPPI decreased by 58 points. The overall price index INDSPI decreased by 61 points.
| Class | 08-Jan | 15-Jan | Change | % |
| ILPPI | 7180 | 7116 | -64 | -0.9% |
| IFPPI | 7561 | 7504 | -58 | -0.8% |
| INDSPI | 7362 | 7301 | -61 | -0.8% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 08-Jan | 15-Jan | Change | % |
| PI - TMT | 7029 | 6926 | -103 | -1.5% |
| PI - WRC | 7601 | 7578 | -23 | -0.3% |
| PI - Angle | 6851 | 6769 | -82 | -1.2% |
| PI - Channel | 6880 | 6816 | -64 | -0.9% |
| PI - Joist | 6282 | 6221 | -60 | -1.0% |
PI - Product Index
Flat products
| Category | 08-Jan | 15-Jan | Change | % |
| PI - Narrow Plates | 7260 | 7222 | -38 | -0.5% |
| PI - Wide Plates | 7336 | 7314 | -22 | -0.3% |
| PI - Hot Rolled | 7379 | 7316 | -63 | -0.9% |
| PI - Cold Rolled | 8209 | 8098 | -111 | -1.3% |
| PI - Galvanized | 7978 | 7996 | 18 | 0.2% |
PI - Product Index
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1. Input material
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | 0% |
| Kandla | 3% |
| Kanpur | 0% |
| Kolkata | 3% |
| Mandi | 2% |
| Mumbai | -1% |
Change is on January 15th 2010 as compared to January 8th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 1% |
| Ships | Mixed | 1% |
Change is on January 15th 2010 as compared to January 8th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | -2% |
| Bhiwari | -7% |
| Durgapur | -2% |
| Ghaziabad | 0% |
| Hyderabad | -6% |
| Jaipur | -2% |
| Jamshedpur | 0% |
| Kanpur | -1% |
| Kolkata | -4% |
| Mandi | 0% |
| Mumbai | -1% |
| Muzzafarnagar | -3% |
| Nagpur | -2% |
| Raigarh | -9% |
| Raipur | -2% |
| Rourkela | -1% |
| Rudrapur | -2% |
Change is on January 15th 2010 as compared to January 8th 2010
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on January 15th 2010 as compared to January 8th 2010
Sponge iron
| Location | Change |
| Bellary | -6% |
| Kolkata | -9% |
| Raigarh | -9% |
| Raipur | -12% |
| Rourkela | -14% |
Change is on January 15th 2010 as compared to January 8th 2010
2. Long products
TMT
Fe 415
12mm
| Location | Change |
| Ahmedabad | -3% |
| Chennai | -1% |
| Delhi | -2% |
| Indore | -4% |
| Kanpur | -1% |
| Kolkata | -3% |
| Mandi | 0% |
| Mumbai | -1% |
| Raipur | -4% |
Change is on January 15th 2010 as compared to January 8th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | -3% |
| Kanpur | 1% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on January 15th 2010 as compared to January 8th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | -3% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -3% |
| Indore | -6% |
| Kanpur | -1% |
| Kolkata | -2% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | -2% |
Change is on January 15th 2010 as compared to January 8th 2010
CNHL
Grade A
75/40
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -4% |
| Indore | -6% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | -2% |
Change is on January 15th 2010 as compared to January 8th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | -4% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | -4% |
| Kanpur | -2% |
| Kolkata | -2% |
| Mandi | 1% |
| Mumbai | -1% |
| Raipur | -1% |
Change is on January 15th 2010 as compared to January 8th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -2% |
| Indore | 0% |
| Kolkata | 0% |
| Ludhiana | -1% |
| Mumbai | -1% |
Change is on January 15th 2010 as compared to January 8th 2010
Patra
| Location | Change |
| Delhi | -3% |
| Ludhiana | -2% |
| Mandi | -1% |
Change is on January 15th 2010 as compared to January 8th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | -3% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | -1% |
Change is on January 15th 2010 as compared to January 8th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | -1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mumbai | -1% |
| Raipur | -1% |
Change is on January 15th 2010 as compared to January 8th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | -2% |
| Kanpur | -2% |
| Kolkata | -2% |
| Mumbai | -2% |
| Pune | -2% |
Change is on January 15th 2010 as compared to January 8th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 1% |
Change is on January 15th 2010 as compared to January 8th 2010
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