Indian domestic steel prices exhibited weakening sentiments last week. The Indian Long Product Price Index ILPPI decreased by 20 points whereas Indian Flat Products Index IFPPI also dipped by 20 points. The overall price index INDSPI decreased by 20 points.
| Class | 25-Sep | 01-Oct | Change |
| ILPPI | 6315 | 6295 | -20 |
| IFPPI | 7559 | 7539 | -20 |
| INDSPI | 6907 | 6888 | -20 |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 25-Sep | 01-Oct | Change |
| PI - TMT | 6016 | 5995 | -21 |
| PI - WRC | 6839 | 6811 | -27 |
| PI - Angle | 5990 | 5986 | -4 |
| PI - Channel | 6067 | 6069 | 1 |
| PI - Joist | 5612 | 5605 | -8 |
PI - Product Index
Flat products
| Category | 25-Sep | 01-Oct | Change |
| PI - Narrow Plates | 7218 | 7213 | -4 |
| PI - Wide Plates | 7305 | 7296 | -9 |
| PI - Hot Rolled | 7398 | 7365 | -33 |
| PI - Cold Rolled | 8156 | 8151 | -5 |
| PI - Galvanized | 8036 | 8036 | 0 |
PI - Product Index
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1. Input material - Adamant sentiments
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | 0% |
| Kandla | 0% |
| Mumbai | -1% |
| Mandi | 0% |
| Kolkata | 0% |
| Kanpur | -2% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
Alang
| Product | Size | Change |
| Ships | Mixed | 0% |
| Plate cuttings | 1" | -3% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
Pencil ingot
| Location | Change |
| Mumbai | 0% |
| Mandi | 1% |
| Raipur | 0% |
| Kanpur | -1% |
| Kolkata | 0% |
| Ghaziabad | 0% |
| Muzzafarnagar | 0% |
| Ahmedabad | -3% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
Pig Iron
| Location | Change |
| Raipur | 3% |
| Kolkata | 3% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
Sponge iron
| Location | Change |
| Raipur | 0% |
| Kolkata | 0% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
2. Long products -Demand revival a mirage
TMT
Fe 415
12mm
| Location | Change |
| Chennai | 0% |
| Mumbai | -2% |
| Mandi | 1% |
| Kolkata | 0% |
| Delhi | 1% |
| Kanpur | -1% |
| Ahmedabad | -2% |
| Indore | -2% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Raipur | -1% |
| Kolkata | 0% |
| Delhi | 0% |
| Kanpur | -1% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
ANGL
GRADE A
65X65X6
| Location | Change |
| Chennai | 0% |
| Mumbai | 1% |
| Mandi | 1% |
| Raipur | 0% |
| Kolkata | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Ahmedabad | -2% |
| Indore | -2% |
| Bangalore | 0% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
CNHL
GRADE A
75/40
| Location | Change |
| Chennai | 0% |
| Mumbai | 1% |
| Mandi | 1% |
| Raipur | 1% |
| Kolkata | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Ahmedabad | -2% |
| Indore | -2% |
| Bangalore | 0% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
JSTI
GRADE A
250X125
| Location | Change |
| Chennai | 0% |
| Mumbai | 1% |
| Mandi | 1% |
| Raipur | 0% |
| Kolkata | 0% |
| Delhi | -1% |
| Kanpur | -1% |
| Ahmedabad | -1% |
| Indore | -2% |
| Bangalore | 0% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
3. Flat products - Ruptures in the citadel
HRC
Tube
2.5x1250
| Location | Change |
| Mumbai | 0% |
| Ludhiana | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Ahmedabad | -2% |
| Indore | -1% |
| Bangalore | 0% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
Patra
| Location | Change |
| Ludhiana | -1% |
| Mandi | -1% |
| Delhi | 0% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
Plates
GRADE A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Mumbai | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Kanpur | -1% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
Plates
GRADE B
12-20X2500
| Location | Change |
| Chennai | 0% |
| Mumbai | 0% |
| Raipur | 1% |
| Kolkata | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Ahmedabad | -1% |
| Indore | -1% |
| Bangalore | 0% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
CR
DSK
0.63x1000
| Location | Change |
| Chennai | 0% |
| Mumbai | 0% |
| Pune | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Ahmedabad | 0% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
GC
100Gms
0.4
| Location | Change |
| Chennai | 0% |
| Mumbai | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Kanpur | -1% |
| Bangalore | 0% |
Change is on October 1st as compared to September 25th 2009
Change is in INR per tonne
4. Indian Export Levels - Coated products levels crumbles under Chinese onslaught
| Item | Grade | Size | Delivery | Change |
| PLTS | Structural | 12-40x2.5 | FOB Vizag | 0 |
| HDG | 100Gms | 0.4 | FOB Mumbai | 0 |
| PPGI | Standard RAL | 0.4 | FOB Mumbai | -20 |
Change is on October 2nd as compared to September 25th 2009
Change is in USD per tonne
Indian Import Levels - Tremors of tsunami
Indian shores being in the vicinity cannot be unscathed by such upheavals in Chinese steel market. India is emerging as a major destination of HRC both in cold rolling and tube making grades as the domestic supplies are not only inadequate but dearer. The flat product market has maintained an uncanny silence during September although the steel majors had hiked the prices by INR 1000 per tonne to INR 1500 per tonne in September encouraged by healthy growth in demand in the first quarter of 2009-10.
The sentiments are peculiarly sullen as buyers sensing the emergence of lucrative offers from China have been postponing avoidable bookings. It is learnt that HRC orders have been booked at USD 500 per tonne CNF Indian port igniting the price war in the subcontinent with import parity being attained at USD 570 per tonne.
As per market information, some Indian buyers have clinched a deal for imports of more than 110,000 tonnes of HRC in cold rolling grade SAE 1008, auto grade & structural grade at USD 500 CNF Mumbai from a Chinese mill through a German trading house.
China will be closed during all next week due to National Holiday. But when Chinese mills return to market on October 9th, situation is likely to get even worse.
The future is a mixed bag of fortune and caution as mills have been attempting to hike prices with little success as the house remains divided. Steel stocks and raw material cost have shown signs of ebbing but lack of credit in the market nullifies positivism. Experts are still hopeful as the global and Chinese economy in particular is still sitting over a caldron of potential demand from the vital sectors viz, construction, white goods and auto industry.
Silence in the Indian flat steel market is ominous of an impending tsunami likely to touch Indian shores by mid October 2009 as the current bookings arrive. Till that time steel mills in India can brace up for a price war.
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