Indian Steel Prices rallied after long gestation during last week. The Indian Long Product Price Index ILPPI bounced 42 points, on the contrary the Indian Flat Products Index IFPPI crept by 14 points. The overall price index INDSPI rebounded 29 points:
| Class | 27-Mar | 3-Apr | Change | % |
| ILPPI | 6516 | 6558 | 42 | 0.6% |
| IFPPI | 6671 | 6685 | 14 | 0.2% |
| IDSPI | 6590 | 6619 | 29 | 0.4% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 27-Mar | 03-Apr | Change |
| PI - TMT | 6236 | 6290 | 54 |
| PI - WRC | 7061 | 7106 | 45 |
| PI - Angle | 6140 | 6168 | 28 |
| PI - Channel | 6209 | 6225 | 16 |
| PI - Joist | 5701 | 5697 | -4 |
PI - Price Index
Flat products
| Category | 27-Mar | 03-Apr | Change |
| PI - Narrow Plates | 6285 | 6283 | -2 |
| PI - Wide Plates | 6700 | 6726 | 26 |
| PI - Hot Rolled | 6495 | 6500 | 5 |
| PI - Cold Rolled | 7244 | 7282 | 38 |
| PI - Galvanized | 6954 | 7021 | 67 |
PI - Price Index
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Input materials show bipolar movement
The prices of input material had divergent dynamics with scrap levels buckling. On the flip side pig iron, sponge iron and pencil ingot showed remarkable resilience with prices rebounding. The scenario was even more perturbing in Alang with the twin factors of depreciation of Indian Rupee and the fall in local plate prices led to slump in the scrap prices by USD 35 per tonne touching a low of USD 260 per LDT for general cargo ships.
Melting scrap
80:20
HMS
| Location | Change | % |
| Chennai | -1728 | -10.4% |
| Kandla | 178 | 0.9% |
| Mumbai | -500 | -3.0% |
| Mandi | 444 | 2.3% |
| Kolkata | -192 | -1.1% |
| Kanpur | 178 | 1.0% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
Alang
| Product | Size | Size | Change | % |
| Ship scrap | Mixed | Mixed | -100 | -0.6% |
| Plate cuttings | 1” | 1” | 0 | 0.0% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
Pencil ingot
| Location | Change | % |
| Mumbai | 0 | 0.0% |
| Mandi | 554 | 2.4% |
| Raipur | 178 | 0.9% |
| Kanpur | 178 | 0.8% |
| Kolkata | 577 | 2.5% |
| Ghaziabad | 400 | 1.8% |
| Muzzafarnagar | 355 | 1.6% |
| Ahmedabad | 500 | 2.3% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
Pig Iron
| Location | Change | % |
| Raipur | 200 | 1.2% |
| Kolkata | 0 | 0.0% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
Sponge iron
| Location | Change | % |
| Raipur | 200 | 1.5% |
| Kolkata | 769 | 5.1% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
Long product prices rebounds by price hike from steel majors
Market got a pep up with an announcement of price hike by steel majors in long products by an average of INR 1000 per tonne encouraged by heavy sales in March 2009. Buyers strove to amass volumes to ward off anticipated price hike in the new financial year ie wef April 1st 2009.
However this exercise seems to be cosmetic discouraging any negative sentiments from setting in. The stockiest having bloated their inventory backed by this hype are not optimistic about its sustainability since with the depletion of stock compounded by absence of demand will eventually compel steel manufacturers to return with lucrative discount after couple of weeks.
TMT
Fe 415
12mm
| Location | Change | % |
| Chennai | -750 | -2.3% |
| Mumbai | 563 | 2.0% |
| Mandi | 416 | 1.3% |
| Kolkata | 758 | 2.4% |
| Delhi | 0 | 0.0% |
| Kanpur | 200 | 0.7% |
| Ahmedabad | 732 | 2.6% |
| Indore | 900 | 3.0% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
WRC
SWR14
5.5/6
| Location | Change | % |
| Chennai | 900 | 3.2% |
| Raipur | -444 | -1.6% |
| Kolkata | 481 | 1.7% |
| Delhi | 0 | 0.0% |
| Kanpur | -89 | -0.3% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
ANGL
GR A
65x6
| Location | Change | % |
| Chennai | 500 | 1.6% |
| Mumbai | 0 | 0.0% |
| Mandi | 208 | 0.6% |
| Raipur | 312 | 1.1% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | -100 | -0.3% |
| Ahmedabad | 675 | 2.4% |
| Indore | 600 | 2.0% |
| Bangalore | -200 | -0.6% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
CHNL
GR A
75/100
| Location | Change | % |
| Chennai | 500 | 1.5% |
| Mumbai | 0 | 0.0% |
| Mandi | 208 | 0.6% |
| Raipur | 312 | 1.1% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | -300 | -1.0% |
| Ahmedabad | 675 | 2.4% |
| Indore | 600 | 2.0% |
| Bangalore | -500 | -1.6% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
JSTI
GR A
250x125
| Location | Change | % |
| Chennai | 500 | 1.5% |
| Mumbai | 0 | 0.0% |
| Mandi | -312 | -0.9% |
| Raipur | 312 | 1.1% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | -400 | -1.3% |
| Ahmedabad | 104 | 0.3% |
| Indore | 400 | 1.3% |
| Bangalore | -500 | -1.5% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
Flat product prices shows modulated optimism
Flat product prices were circumspect in its movement. Internationally the flat product prices remained depressed. Import parity level went up to USD 484 per tonne CNF LO Mumbai as against imports availability at USD 370 per tonne CNF LO, which hardly augurs well for the domestic players.
HRC
Tube
2.5x1250
| Location | Change | % |
| Mumbai | -231 | -0.8% |
| Ludhiana | 185 | 0.7% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Ahmedabad | 0 | 0.0% |
| Indore | 0 | 0.0% |
| Bangalore | 0 | 0.0% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
Patra
| Location | Change | % |
| Ludhiana | 0 | 0.0% |
| Mandi | 508 | 1.9% |
| Delhi | 0 | 0.0% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
PLTS
GRA
8x1.5
| Location | Change | % |
| Chennai | 500 | 1.8% |
| Mumbai | 0 | 0.0% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | 89 | 0.3% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
PLTS
GRB
12-20x2.5
| Location | Change | % |
| Chennai | 500 | 1.6% |
| Mumbai | 0 | 0.0% |
| Raipur | 0 | 0.0% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | 311 | 1.0% |
| Ahmedabad | 0 | 0.0% |
| Indore | 0 | 0.0% |
| Bangalore | 0 | 0.0% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
CR
DSK
0.63x1000
| Location | Change | % |
| Chennai | 500 | 1.5% |
| Mumbai | 462 | 1.4% |
| Pune | 462 | 1.4% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | 355 | 1.1% |
| Ahmedabad | 0 | 0.0% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
GC
100Gms
0.4
| Location | Change | % |
| Chennai | 500 | 1.4% |
| Mumbai | 0 | 0.0% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | 267 | 0.7% |
| Bangalore | 0 | 0.0% |
Change is on April 3rd 2009 as compared to March 27th 2009
Change is in INR per tonne
Although most of the sellers have rolled over their prices for flat products (Although some of them sought an increase in March end), there have been some reports of increase. A major galvanizer in Mumbai has announced that they will increase around INR 500 per tonne for their galvanized corrugated sheets. Prices of super heavy plates are also reported to have been increased by a major seller.
Thus the market prices are likely to strengthen a bit in coming week temporarily but there is a general feeling that there would be a downward correction of prices in April 2009.
Export Levels from India succumb to the market realities
The price of Plates and HDG succumb to the negative pressure of market fundamentals. The typical destination of these commodities being Europe and Middle East is reeling under immense recession and cheaper offers from Ukraine and Turkey.
Price levels having touched Euro 350 pmt and Euro 420 per tonne CNF European port levels for plates and HDG respectively there seems too little respite for Indian suppliers. Middle Eastern market has little to cheer with the price dipping by 1% in the last week.
| Item | Grade | Size | Delivery | Change |
| PLTS | Structural | 12-40x2.5 | FOB Vizag | -10 |
| HDG | 100Gms | 0.4 | FOB Mumbai | -10 |
| PPGI | Standard RAL | 0.4 | FOB Mumbai | 0 |
Change is on April 3rd 2009 as compared to March 27th 2009
Kindly note that transactions are not happening for some products ate these prices
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