Indian Steel Prices plummeted on scarce demand and abysmally poor activity plaguing the economy. The Indian Long Product Price Index ILPPI dipped by 62 points, whereas the Indian Flat Products Index IFPPI depreciated by 21 points. The overall price index INDSPI declined by 43 points:
| Class | 13-Mar | 20-Mar | Change |
| ILPPI | 6630 | 6568 | -62 |
| IFPPI | 6656 | 6635 | -21 |
| INDSPI | 6642 | 6599 | -43 |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 13-Mar | 20-Mar | Change |
| PI - TMT | 6392 | 6322 | -69 |
| PI - WRC | 7133 | 7066 | -67 |
| PI - Angle | 6263 | 6233 | -30 |
| PI - Channel | 6313 | 6259 | -53 |
| PI - Joist | 5805 | 5774 | -32 |
Flat products
| Category | 13-Mar | 20-Mar | Change |
| PI - Narrow Plates | 6267 | 6267 | 0 |
| PI - Wide Plates | 6705 | 6683 | -21 |
| PI - Hot Rolled | 6478 | 6436 | -42 |
| PI - Cold Rolled | 7241 | 7254 | 13 |
| PI - Galvanized | 6954 | 6954 | 0 |
To know more about these indices please visit
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Input materials remains bearish
Input prices fell unimpeded fuelled by falling international scrap prices and negative demand from cash cow products like re -bars and structural .
The construction industry is reeling under recession and devoid of any perceptible activity to prop up the market.
Internationally the scrap prices plummeted by USD 20 pmt thereby gravitating the domestic prices. Ship breaking industry exhibited decline in fortunes due to glut after an incessant phase of profiteering.
Melting scrap
80:20
HMS
| Location | % | % |
| Chennai | -1144 | -6.5% |
| Kandla | -3343 | -17.1% |
| Mumbai | 2632 | 15.5% |
| Mandi | -622 | -3.2% |
| Kolkata | 0 | 0.0% |
| Kanpur | 0 | 0.0% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
Alang
| Product | Size | Size | Change | % |
| Ships | Mixed | Mixed | -400 | -2.4% |
| Plate cuttings | 1” | 1” | -600 | -3.2% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
Pencil ingot
| Location | % | % |
| Mumbai | -800 | -3.6% |
| Mandi | -831 | -3.4% |
| Raipur | -178 | -0.9% |
| Kanpur | -444 | -2.0% |
| Kolkata | -481 | -2.0% |
| Ghaziabad | -500 | -2.1% |
| Muzzafarnagar | -800 | -3.4% |
| Ahmedabad | -300 | -1.4% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
Pig Iron
| Location | % | % |
| Raipur | -200 | -1.1% |
| Kolkata | 0 | 0.0% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
Sponge iron
| Location | % | % |
| Raipur | -200 | -1.4% |
| Kolkata | -288 | -1.8% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
To know more about these indices please visit
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Long products prices leads the southward march
The decline in long product prices was prevalent as the economy growth rate is expected to slump to 6.3% in the 2008-09 (IMF report) fiscal year, ending in March and 5.3% the following year severely impacting the construction industry.
The import parity for import of $ 437 pmt for Re-bars and $ 380 pmt billets C&F, Mumbai, import threat is looming large as the domestic prices are much higher. This is accelerate the downward spiral.
TMT
Fe 415
12mm
| Location | % | % |
| Chennai | 650 | 2.1% |
| Mumbai | 225 | 0.8% |
| Mandi | -1352 | -4.1% |
| Kolkata | 0 | 0.0% |
| Delhi | -756 | -2.3% |
| Kanpur | -1600 | -5.0% |
| Ahmedabad | -675 | -2.4% |
| Indore | -800 | -2.6% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
WRC
SWR14
5.5/6
| Location | % | % |
| Chennai | 0 | 0.0% |
| Raipur | -444 | -1.6% |
| Kolkata | 0 | 0.0% |
| Delhi | -453 | -1.5% |
| Kanpur | -533 | -1.8% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
ANGL
GR A
65x6
| Location | % | % |
| Chennai | 550 | 1.7% |
| Mumbai | 0 | 0.0% |
| Mandi | -1144 | -3.4% |
| Raipur | -208 | -0.7% |
| Kolkata | 0 | 0.0% |
| Delhi | 383 | 1.2% |
| Kanpur | -1000 | -3.1% |
| Ahmedabad | -225 | -0.8% |
| Indore | -500 | -1.6% |
| Bangalore | 0 | 0.0% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
CHNL
GR A
75/100
| Location | % | % |
| Chennai | 860 | 2.7% |
| Mumbai | 0 | 0.0% |
| Mandi | -1144 | -3.3% |
| Raipur | -520 | -1.8% |
| Kolkata | -649 | -2.0% |
| Delhi | 0 | 0.0% |
| Kanpur | -1200 | -3.7% |
| Ahmedabad | -394 | -1.4% |
| Indore | -700 | -2.2% |
| Bangalore | 0 | 0.0% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
JSTI
GR A
250x125
| Location | % | % |
| Chennai | 0 | 0.0% |
| Mumbai | 0 | 0.0% |
| Mandi | -520 | -1.5% |
| Raipur | -520 | -1.7% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | -400 | -1.2% |
| Ahmedabad | -520 | -1.7% |
| Indore | -800 | -2.4% |
| Bangalore | 0 | 0.0% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
HRC and Plate prices decline by 2-3%
The slide gradient was less acute in flat, however there was overall decline in prices of HRC and wide plates. Towards the end of the week it exhibited relative stability signaling trough however upturn is remote due to lack of demand.
HRC
Tube
2.5x1250
| Location | % | % |
| Mumbai | -693 | -2.4% |
| Ludhiana | -647 | -2.2% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Ahmedabad | -277 | -1.0% |
| Indore | -444 | -1.5% |
| Bangalore | 0 | 0.0% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
Patra
| Location | % | % |
| Ludhiana | -739 | -2.7% |
| Mandi | -739 | -2.7% |
| Delhi | 0 | 0.0% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
PLTS
GRA
8x1.5
| Location | % | % |
| Chennai | 0 | 0.0% |
| Mumbai | 0 | 0.0% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | -355 | -1.2% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
PLTS
GRB
12-20x2.5
| Location | % | % |
| Chennai | 0 | 0.0% |
| Mumbai | -462 | -1.5% |
| Raipur | 0 | 0.0% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | -267 | -0.9% |
| Ahmedabad | -462 | -1.4% |
| Indore | -444 | -1.5% |
| Bangalore | 0 | 0.0% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
CR
DSK
0.63x1000
| Location | % | % |
| Chennai | 0 | 0.0% |
| Mumbai | 0 | 0.0% |
| Pune | 0 | 0.0% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | 444 | 1.3% |
| Ahmedabad | 0 | 0.0% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
GC
100Gms
0.4
| Location | % | % |
| Chennai | 0 | 0.0% |
| Mumbai | 0 | 0.0% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | 711 | 2.0% |
| Bangalore | 0 | 0.0% |
Change is on March 20th 2009 as compared to March 13th 2009
Change is in INR per tonne
Iron Ore fines prices diminishes by up to 17%
Domestic iron ore fines prices declined by 17% as a side effect of fall in export levels by upto 25% in Fe63.5/63% as on March 17th 2009 (Ref : Steel Trade Today : Indian iron ore FOB spot price crash by 30% in last 35 days).
The scenario looks increasingly ominous as Chinese Steel manufacturers want to leverage this weakness to the hilt in arm twisting suppliers to agree for up to 50% reduction in prices from 2008 levels.
Domestic
| Product | Grade | Size | Change | % |
| Iron Ore Calibrate | Fe 65% | 10-40 | 0 | 0% |
| Iron Ore Calibrate | Fe 64% | 10-40 | 50 | 3% |
| Iron Ore Calibrate | Fe 62% | 10-40 | 0 | 0% |
| Iron Ore Calibrate | Fe 60% | 5-20 | 50 | 3% |
| Iron Ore Calibrate | Fe 62% | 5-20 | 100 | 6% |
| Iron ore - Fines | Fe 63% | Fines | -250 | -17% |
(Sourced from www.steelprices-india.com)
Export - east coast
| Grade | Change | % |
| Fe 63.5/63% | -2 | -4% |
| Fe 63.5/62.5% | -2 | -4% |
| Fe 63/62 % | 0 | 0% |
| Fe 62 / 61% | -1 | -2% |
| Fe 61 / 60 % | -1 | -2% |
| Fe 60/59 % | 0 | 0% |
| Fe 59 / 58 % | -1 | -3% |
| Fe 58 / 57% | -1 | -3% |
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