Indian domestic steel prices continued to exhibit divergent trends for longs and flats last week.
While long products continued downward journey last week, flat products gained some momentum on signals of price hike by Indian steel majors on improved demand mainly from auto sector, which sold 1.1 million vehicles in January 2010.
However, it is understood that long product prices are close to bottom and in all likelihood look up as the peak construction season is approaching. The action by government funded projects to exhaust their budgets before March 31st 2010 would also support demand for long products.
Lastly, the government decisions in incoming budget could also provide buoyancy to the steel prices as rumors are afloat that we could see a hike in excise duty as well as export tax on iron ore may be increased.
The Indian Long Product Price Index ILPPI decreased by 26 points whereas Indian Flat Products Index IFPPI increased by 54 points. The overall price index INDSPI increased by 12 points.
| Class | 05-Feb | 12-Feb | Change | % |
| ILPPI | 6674 | 6648 | -26 | -0.4% |
| IFPPI | 7457 | 7511 | 54 | 0.7% |
| INDSPI | 7047 | 7059 | 12 | 0.2% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 05-Feb | 12-Feb | Change | % |
| PI - TMT | 6267 | 6269 | 2 | 0.0% |
| PI - WRC | 7371 | 7320 | -51 | -0.7% |
| PI - Angle | 6226 | 6236 | 10 | 0.2% |
| PI - Channel | 6310 | 6276 | -34 | -0.5% |
| PI - Joist | 5848 | 5778 | -70 | -1.2% |
PI - Product Index
Flat products
| Category | 05-Feb | 12-Feb | Change | % |
| PI - Narrow Plates | 7118 | 7201 | 83 | 1.2% |
| PI - Wide Plates | 7382 | 7375 | -7 | -0.1% |
| PI - Hot Rolled | 7224 | 7301 | 78 | 1.1% |
| PI - Cold Rolled | 8044 | 8091 | 46 | 0.6% |
| PI - Galvanized | 8176 | 8145 | -31 | -0.4% |
PI - Product Index
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1. Input material
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | 3% |
| Kandla | -1% |
| Kanpur | -2% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | -1% |
Change is on February 12th 2010 as compared to February 5th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 1% |
| Ships | Mixed | -2% |
Change is on February 12th 2010 as compared to February 5th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 2% |
| Bhiwari | -1% |
| Durgapur | 0% |
| Ghaziabad | -1% |
| Hyderabad | 0% |
| Jaipur | -2% |
| Jamshedpur | -1% |
| Kanpur | -2% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | -1% |
| Muzzafarnagar | -1% |
| Nagpur | 0% |
| Raigarh | 0% |
| Raipur | 0% |
| Rourkela | 0% |
| Rudrapur | -3% |
Change is on February 12th 2010 as compared to February 5th 2010
Pig Iron
| Location | Change |
| Agra | -4% |
| Jallandhar | -4% |
| Kolkata | -4% |
| Raipur | -5% |
Change is on February 12th 2010 as compared to February 5th 2010
Sponge iron
| Location | Change |
| Bellary | 3% |
| Kolkata | 0% |
| Raigarh | -3% |
| Raipur | 0% |
| Rourkela | 0% |
Change is on February 12th 2010 as compared to February 5th 2010
2. Long products
TMT
Fe 415
12mm
| Location | Change |
| Ahmedabad | 3% |
| Chennai | 3% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | -3% |
| Kolkata | 0% |
| Mandi | -3% |
| Mumbai | -1% |
| Raipur | -1% |
Change is on February 12th 2010 as compared to February 5th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | -3% |
| Kolkata | 1% |
| Raipur | -1% |
Change is on February 12th 2010 as compared to February 5th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 1% |
| Kanpur | -2% |
| Kolkata | 3% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | 0% |
Change is on February 12th 2010 as compared to February 5th 2010
CNHL
Grade A
75/40
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 2% |
| Kanpur | -3% |
| Kolkata | -2% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | 1% |
Change is on February 12th 2010 as compared to February 5th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | -1% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 1% |
| Kanpur | -4% |
| Kolkata | -2% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | -1% |
Change is on February 12th 2010 as compared to February 5th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 3% |
| Delhi | 3% |
| Indore | 0% |
| Kolkata | 2% |
| Ludhiana | -2% |
| Mumbai | 0% |
Change is on February 12th 2010 as compared to February 5th 2010
Patra
| Location | Change |
| Delhi | -3% |
| Ludhiana | -4% |
| Mandi | 0% |
Change is on February 12th 2010 as compared to February 5th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 3% |
| Delhi | 3% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | 0% |
Change is on February 12th 2010 as compared to February 5th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 3% |
| Bangalore | 0% |
| Chennai | -3% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | 0% |
| Raipur | 0% |
Change is on February 12th 2010 as compared to February 5th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 4% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | -1% |
| Pune | -1% |
Change is on February 12th 2010 as compared to February 5th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | -1% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 3% |
| Kolkata | 1% |
| Mumbai | 0% |
Change is on February 12th 2010 as compared to February 5th 2010
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