Indian domestic steel prices exhibited weakening sentiments last week. The Indian Long Product Price Index ILPPI decreased by 163 points whereas Indian Flat Products Index IFPPI dipped by 46 points. The overall price index INDSPI decreased by 107 points.
| Class | 01-Oct | 09-Oct | Change | % |
| ILPPI | 6295 | 6132 | -163 | -2.6% |
| IFPPI | 7539 | 7493 | -46 | -0.6% |
| INDSPI | 6888 | 6780 | -107 | -1.6% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 01-Oct | 09-Oct | Change | % |
| PI - TMT | 5995 | 5795 | -200 | -3.3% |
| PI - WRC | 6811 | 6680 | -131 | -1.9% |
| PI - Angle | 5986 | 5823 | -163 | -2.7% |
| PI - Channel | 6069 | 5890 | -178 | -2.9% |
| PI - Joist | 5605 | 5490 | -114 | -2.0% |
PI - Product Index
Flat products
| Category | 01-Oct | 09-Oct | Change | % |
| PI - Narrow Plates | 7213 | 7148 | -65 | -0.9% |
| PI - Wide Plates | 7296 | 7247 | -49 | -0.7% |
| PI - Hot Rolled | 7365 | 7346 | -18 | -0.3% |
| PI - Cold Rolled | 8151 | 8072 | -79 | -1.0% |
| PI - Galvanized | 8036 | 7917 | -119 | -1.5% |
PI - Product Index
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1. Input material -Bruised and battered
The utter lack of activity in the long product market has had a devastating effect on the hitherto buoyant scrap market. The ever receding international levels owing to demand destruction in China and Turkey has played second fiddle in the purge.
The ship breaking activity which had shown stability is again beset with volatility as many unrealistic offers have been withdrawn. Lack of demand from furnace owners due to solitude in the downstream market has led to inventory pile compounding the quagmire.
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | -3% |
| Kandla | 0% |
| Mumbai | -3% |
| Mandi | -2% |
| Kolkata | -2% |
| Kanpur | -2% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
Alang
| Product | Size | Change | Deviation |
| Ships | Mixed | -7% | -1000 |
| Plate cuttings | 1” | -7% | -1200 |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
Pencil ingot
| Location | Change |
| Ahmedabad | -7% |
| Bhiwari | -8% |
| Durgapur | -6% |
| Ghaziabad | -6% |
| Hyderabad | -7% |
| Jaipur | -6% |
| Jamshedpur | -6% |
| Kanpur | -2% |
| Kolkata | -5% |
| Mandi | -5% |
| Mumbai | -6% |
| Muzzafarnagar | -6% |
| Nagpur | -7% |
| Raigarh | -4% |
| Raipur | -9% |
| Rourkela | -5% |
| Rudrapur | -2% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
Pig Iron
| Location | Change |
| Raipur | -1% |
| Kolkata | 0% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
Sponge iron
| Location | Change |
| Raipur | -7% |
| Kolkata | -1% |
| Bellary | -5% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
2. Long products - Negativism amidst inactivity
The long product prices showed continued negativism as buyers remained weary of buying as international scrap prices plummeted. The Chinese monster yet to emerge from holiday stupor has rankled global markets an impending price war in long products as well after the devastation in flat products. As a result buyers are postponing avoidable buying expectant of cheaper imports hitting the Indian shores.
Moreover October being beset with festivals (Dussehera, Diwali and Chath Puja) there is absence of labor resulting in skeletal activity.
TMT
Fe 415
12mm
| Location | Change |
| Chennai | -2% |
| Mumbai | -5% |
| Mandi | -1% |
| Kolkata | -3% |
| Delhi | -7% |
| Kanpur | -2% |
| Ahmedabad | -6% |
| Indore | -6% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Raipur | -5% |
| Kolkata | -3% |
| Delhi | 0% |
| Kanpur | -1% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
ANGL
GRADE A
65X65X6
| Location | Change |
| Chennai | -2% |
| Mumbai | -5% |
| Mandi | -2% |
| Raipur | -6% |
| Kolkata | -2% |
| Delhi | 0% |
| Kanpur | -1% |
| Ahmedabad | -6% |
| Indore | -2% |
| Bangalore | -3% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
CNHL
GRADE A
75/40
| Location | Change |
| Chennai | -2% |
| Mumbai | -5% |
| Mandi | -2% |
| Raipur | -6% |
| Kolkata | -3% |
| Delhi | 0% |
| Kanpur | -2% |
| Ahmedabad | -5% |
| Indore | -3% |
| Bangalore | -3% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
JSTI
GRADE A
250X125
| Location | Change |
| Chennai | -1% |
| Mumbai | -4% |
| Mandi | -1% |
| Raipur | -3% |
| Kolkata | -3% |
| Delhi | 0% |
| Kanpur | -2% |
| Ahmedabad | -3% |
| Indore | 0% |
| Bangalore | -2% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
3. Flat products - Widening breach
HRC
Tube
2.5x1250
| Location | Change |
| Mumbai | 0% |
| Ludhiana | -1% |
| Kolkata | 0% |
| Delhi | 0% |
| Ahmedabad | 0% |
| Indore | -1% |
| Bangalore | -1% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
Patra
| Location | Change |
| Ludhiana | -1% |
| Mandi | -1% |
| Delhi | 0% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
Plates
GRADE A
8X1250/1500
| Location | Change |
| Chennai | -2% |
| Mumbai | 0% |
| Kolkata | -1% |
| Delhi | 0% |
| Kanpur | 0% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
Plates
GRADE B
12-20X2500
| Location | Change |
| Chennai | -2% |
| Mumbai | 0% |
| Raipur | 1% |
| Kolkata | -1% |
| Delhi | 0% |
| Kanpur | 0% |
| Ahmedabad | -1% |
| Indore | -1% |
| Bangalore | -1% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
CR
DSK
0.63x1000
| Location | Change |
| Chennai | -2% |
| Mumbai | 0% |
| Pune | 0% |
| Kolkata | -2% |
| Delhi | 0% |
| Kanpur | 0% |
| Ahmedabad | 0% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
GC
100Gms
0.4
| Location | Change |
| Chennai | -3% |
| Mumbai | 0% |
| Kolkata | -3% |
| Delhi | 0% |
| Kanpur | 0% |
| Bangalore | 0% |
Change is on October 8th as compared to October 1st 2009
Change is in INR per tonne
4. Indian Export Levels - Cookie crumbles
| Item | Grade | Size | Delivery | Change |
| PLTS | Structural | 12-40x2.5 | FOB Vizag | 0 |
| HDG | 100Gms | 0.4 | FOB Mumbai | -10 |
| PPGI | Standard RAL | 0.4 | FOB Mumbai | 0 |
Change is on October 2nd as compared to September 25th 2009
Change is in USD per tonne
Indian Import Levels - Rattle of Chinese wagon wheel
With Chinese celebrating 60th year of national holiday till October 8th not much action was seen week.
The ensuing week, although saddled with low activities due to Diwali celebrations, may still see some deals at lower prices as the Chinese wagon wheel rolls with alluring offers.
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