After witnessing eruption during WEEK 25 and WEEK 26 and corrections in WEEK 27, India - Domestic steel market achieved a balance in WEEK 28 with minor corrections at some locations, due to lag and local factors.
Correction in long products was more or less over in WEEK 27, but correction was seen at flat products in several locations in WEEK 28.
Price movement for Mumbai market during WEEK 28 is given below
| Product | Grade | Size | 7-Jul | 11-Jul | Change | % |
| Melting scrap | 80:20 | HMS | 32724 | 32724 | 0.0% | |
| Pencil ingot | 41292 | 40816 | -476 | -1.2% | ||
| Billet | IS 2830 | 125x125 | 45219 | 44505 | -714 | -1.6% |
| TMT | Fe 415 | 12mm | 46290 | 46409 | 119 | 0.3% |
| ANGL | GR A | 65x6 | 47361 | 48194 | 833 | 1.8% |
| CHNL | GR A | 75/100 | 47361 | 48194 | 833 | 1.8% |
| JSTI | GR A | 250x125 | 58308 | 57713 | -595 | -1.0% |
| HRC | Tube | 2.5x1250 | 57200 | 55120 | -2080 | -3.6% |
| HRPO | DSK | 2.5x1250 | 57720 | 55640 | -2080 | -3.6% |
| PLTS | GRA | 8x1.25 | 56160 | 55120 | -1040 | -1.9% |
| PLTS | GRA | 8x1.5 | 56160 | 55640 | -520 | -0.9% |
| PLTS | GRB | 12-20x2.5 | 57720 | 59280 | 1560 | 2.7% |
| CR | DSK | 0.63x1000 | 58760 | 60580 | 1820 | 3.1% |
| GP | 100Gms | 0.63 | 63750 | 62500 | -1250 | -2.0% |
| GC | 100Gms | 0.63 | 63000 | 62500 | -500 | -0.8% |
Price in INR per tonne
Inclusive of ED and VAT
Delivery – FOT
Chennai market, which was somewhat stable in WEEK 27, saw fall in steel prices in WEEK 28 across categories
| Product | Grade | Size | 7-Jul | 11-Jul | Change | % |
| Melting scrap | 80:20 | HMS | 36889 | 34509 | -2380 | -6.5% |
| TMT | Fe 415 | 12mm | 51168 | 49088 | -2080 | -4.1% |
| WRC | SWR14 | 5.5/6 | 48880 | 47320 | -1560 | -3.2% |
| ANGL | GR A | 65x6 | 54496 | 52520 | -1976 | -3.6% |
| CHNL | GR A | 75/100 | 54704 | 53040 | -1664 | -3.0% |
| JSTI | GR A | 250x125 | 60320 | 58240 | -2080 | -3.4% |
| CR | DSK | 0.63x1000 | 55120 | 54288 | -832 | -1.5% |
| CR | DSK | 0.8x1250 | 56160 | 55744 | -416 | -0.7% |
Price in INR per tonne
Inclusive of ED and VAT
Delivery – FOT
This week is likely to see further corrections, as the buyers and stockiest are assured of no increase by steel majors at least during July 2008. This sentiment has prompted them to limit buying putting pressures on secondary steel makers and stockiest in short term.
Readers may note that the price levels indicated in this article represent the market fairly and are outlined to give trends only, but could be in variance with some transactions at different levels for smaller volumes etc.
(Sourced from www.steelprices-india.com)
