Indian domestic prices of long and flat products exhibited major decline last week. The ILPPI fell by a whopping 168 points, whereas the fall in flat products was less pronounced but significant as the IFPPI fell by 56 points. The overall price index INDSPI plummeted by 115 points.
The price for Long products continued reeling under the impact of yet prevalent RINL syndrome and the ensuing undercutting by steel majors.
Flat product prices too maintained a downward trend although it was less pronounced.
| Class | 16-Jan | 23-Jan | Change |
| ILPPI | 6940 | 6772 | -168 |
| IFPPI | 6722 | 6666 | -56 |
| IDSPI | 6836 | 6721 | -115 |
ILPPI – Indian Long Product Price Index
IFPPI – Indian Flat Product Price Index
INDSPI – Indian Steel Price Index
The lowest values since, August 5th 2008, was yet to reach in long products, although not far fetched, but flat products did so on 23 rd January ’09 as follows:
| Class | 23-Jan | Lowest |
| ILPPI | 27-Oct | 6672 |
| IFPPI | 23-Jan | 6666 |
| INDSPI | 23-Jan | 6721 |
ILPPI – Indian Long Product Price Index
IFPPI – Indian Flat Product Price Index
INDSPI – Indian Steel Price Index
Long products
| Category | 16-Jan | 23-Jan | Change |
| PI - TMT | 6692 | 6534 | -158 |
| PI - WRC | 7384 | 7210 | -174 |
| PI - Angle | 6605 | 6426 | -179 |
| PI - Channel | 6694 | 6480 | -214 |
| PI - Joist | 6406 | 6272 | -134 |
Flat products
| Category | 16-Jan | 23-Jan | Change |
| PI - Narrow Plates | 6378 | 6308 | -71 |
| PI - Wide Plates | 6943 | 6822 | -121 |
| PI - Hot Rolled | 6499 | 6453 | -45 |
| PI - Cold Rolled | 7314 | 7278 | -36 |
| PI - Galvanized | 7007 | 6944 | -63 |
To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html
Input materials
Domestic prices for input material dropped across the country:
Melting scrap
80:20
HMS
| Location | Change | % |
| Chennai | 436 | 2.8% |
| Kandla | -697 | -3.6% |
| Mumbai | 200 | 1.3% |
| Mandi | -453 | -2.3% |
| Kolkata | -453 | -2.4% |
| Kanpur | -697 | -4.1% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
Alang
| Product | Grade | Size | Change | % |
| Ships | Melting | Mixed | -750 | -4.5% |
| Plate cuttings | Rolling | 1” | -100 | -0.5% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
Pencil ingot
| Location | Change | % |
| Mumbai | -1000 | -4.5% |
| Mandi | -816 | -3.5% |
| Raipur | 0 | 0.0% |
| Kanpur | -1569 | -6.8% |
| Kolkata | 0 | 0.0% |
| Ghaziabad | -200 | -0.9% |
| Muzzafarnagar | -261 | -1.2% |
| Ahmedabad | -300 | -1.3% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
Pig Iron
| Location | Change | % |
| Raipur | -1900 | -9.8% |
| Kolkata | -226 | -1.1% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
Sponge iron
| Location | Change | % |
| Raipur | 1300 | 10.7% |
| Kolkata | 0 | 0.0% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
Scrap prices fell consistently in India contrary to International price movements which remained stable at USD 295 per tonne to USD 300 per tonne on CFR Mumbai levels. The prices are expected to slide in the coming weeks owing to emergence of enhanced supply as a fallout of heightened activity in ship breaking scrap (Refer to STT of January 21st 2009 - Indian ship breaking industry defies rational expectations). Although the latest trend has been of the peak ebbing with more re negotiations setting in but the material already under process is likely to dampen the spirits.
Pig Iron and Pencil Ingot too demonstrated similar movements but it was reactionary to the lack of demand for downstream products rather than anything else.
The only saving grace was sponge iron and iron ore which held forte owing increased demand from Sintering units and buying pressure from Chinese suppliers as the Lunar Holidays closed by and the stocks at Chinese ports plummeted to 58 million tonnes (less than 2 months).Increase in production by Chinese mills also set the tone for stable Iron ore prices.
Long Products
Long products price slide continued for the 4th consecutive week
TMT
Fe 415
12mm
| Location | Change | % |
| Chennai | -1040 | -2.9% |
| Mumbai | -1721 | -5.7% |
| Mandi | -936 | -2.7% |
| Kolkata | 0 | 0.0% |
| Delhi | 501 | 1.5% |
| Kanpur | -1300 | -4.1% |
| Ahmedabad | -1262 | -4.1% |
| Indore | 0 | 0.0% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
WRC
SWR14
5.5/6
| Location | Change | % |
| Chennai | -874 | -2.8% |
| Raipur | -872 | -3.1% |
| Kolkata | -962 | -3.1% |
| Delhi | 0 | 0.0% |
| Kanpur | -697 | -2.2% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
ANGL
GR A
65x6
| Location | Change | % |
| Chennai | -520 | -1.4% |
| Mumbai | -574 | -1.9% |
| Mandi | -936 | -2.7% |
| Raipur | -1040 | -3.5% |
| Kolkata | -772 | -2.2% |
| Delhi | -1560 | -4.8% |
| Kanpur | -600 | -1.9% |
| Ahmedabad | -1262 | -4.2% |
| Indore | -1000 | -3.1% |
| Bangalore | -1000 | -3.1% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
CHNL
GR A
75/100
| Location | Change | % |
| Chennai | -1560 | -4.2% |
| Mumbai | -574 | -1.9% |
| Mandi | -832 | -2.4% |
| Raipur | -1040 | -3.4% |
| Kolkata | -552 | -1.6% |
| Delhi | -2080 | -6.3% |
| Kanpur | -900 | -2.7% |
| Ahmedabad | -1262 | -4.1% |
| Indore | -1150 | -3.5% |
| Bangalore | -1000 | -3.0% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
JSTI
GR A
250x125
| Location | Change | % |
| Chennai | -520 | -1.3% |
| Mumbai | -574 | -1.8% |
| Mandi | 0 | 0.0% |
| Raipur | -1040 | -3.3% |
| Kolkata | -1103 | -3.1% |
| Delhi | -1040 | -3.1% |
| Kanpur | -500 | -1.5% |
| Ahmedabad | -1248 | -3.8% |
| Indore | -1300 | -3.8% |
| Bangalore | -500 | -1.5% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
(Refer to Steel Trading Today dated January 20th 2009 - RINL aggressive pricing hits secondary steel makers in AP)
Flat products
The flat product maintained its downward trend during last week
HRC
Tube
2.5x1250
| Location | Change | % |
| Mumbai | -453 | -1.7% |
| Ludhiana | -544 | -1.9% |
| Kolkata | 436 | 1.4% |
| Delhi | 0 | 0.0% |
| Ahmedabad | 0 | 0.0% |
| Indore | 0 | 0.0% |
| Bangalore | 0 | 0.0% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
Patra
| Location | Change | % |
| Ludhiana | -1088 | -3.9% |
| Mandi | -453 | -1.7% |
| Delhi | 0 | 0.0% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
PLTS
GRA
8x1.5
| Location | Change | % |
| Chennai | -1000 | -3.3% |
| Mumbai | -453 | -1.7% |
| Kolkata | 0 | 0.0% |
| Delhi | 997 | 3.5% |
| Kanpur | -349 | -1.2% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
PLTS
GRB
12-20x2.5
| Location | Change | % |
| Chennai | -1000 | -3.2% |
| Mumbai | -453 | -1.3% |
| Raipur | 436 | 1.4% |
| Kolkata | 0 | 0.0% |
| Delhi | -906 | -3.0% |
| Kanpur | -697 | -2.3% |
| Ahmedabad | -1813 | -5.1% |
| Indore | -174 | -0.6% |
| Bangalore | -436 | -1.4% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
CR
DSK
0.63x1000
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | 0 | 0.0% |
| Pune | 0 | 0.0% |
| Kolkata | -436 | -1.2% |
| Delhi | 0 | 0.0% |
| Kanpur | -610 | -1.9% |
| Ahmedabad | 0 | 0.0% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
GC
100Gms
0.4
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | -436 | -1.2% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | -872 | -2.4% |
| Bangalore | 0 | 0.0% |
Change on January 23rd is with respect to January 16th 2009
Change is in INR per tonne
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