Indian domestic steel prices exhibited mixed sentiments last week. The Indian Long Product Price Index ILPPI increased by 20 points whereas Indian Flat Products Index IFPPI dipped by 42 points, slower than WEEK 45. The overall price index INDSPI decreased by 10 points.
| Class | 13-Nov | 20-Nov | Change | % |
| ILPPI | 5812 | 5832 | 20 | 0.3% |
| IFPPI | 7211 | 7169 | -42 | -0.6% |
| INDSPI | 6479 | 6469 | -10 | -0.2% |
ILPPI – Indian Long Product Price Index
IFPPI – Indian Flat Product Price Index
INDSPI – Indian Steel Price Index
Long Products
| Category | 13-Nov | 20-Nov | Change | % |
| PI - TMT | 5495 | 5526 | 31 | 0.6% |
| PI - WRC | 6338 | 6356 | 18 | 0.3% |
| PI - Angle | 5502 | 5508 | 7 | 0.1% |
| PI - Channel | 5549 | 5548 | -1 | 0.0% |
| PI - Joist | 5206 | 5205 | -1 | 0.0% |
PI – Product Index
Flat products
| Category | 13-Nov | 20-Nov | Change | % |
| PI - Narrow Plates | 6868 | 6825 | -43 | -0.6% |
| PI - Wide Plates | 6985 | 6962 | -23 | -0.3% |
| PI - Hot Rolled | 7078 | 7016 | -63 | -0.9% |
| PI - Cold Rolled | 7758 | 7745 | -13 | -0.2% |
| PI - Galvanized | 7591 | 7597 | 6 | 0.1% |
PI – Product Index
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1. Input material – Bottomed out for time being
Input materials recovered in general last week mainly due to cost pressures as well as surge in global scarp prices, contrary to our expectation of weakening thus defying all logics as the demand for long product remains to be abysmal.
The negative trend exhibited by some products at select location is due to time gap in correction of regional imbalances.
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | 0% |
| Kanpur | 0% |
| Kolkata | 4% |
| Mandi | 2% |
| Mumbai | 3% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
Alang
| Product | Size | Change |
| Plate cuttings | 1” | 3% |
| Ships | Mixed | 1% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
Pencil ingot
| Location | Change |
| Ahmedabad | 1% |
| Bhiwari | 2% |
| Durgapur | 4% |
| Ghaziabad | 1% |
| Hyderabad | 0% |
| Jaipur | 0% |
| Jamshedpur | 1% |
| Kanpur | 2% |
| Kolkata | 1% |
| Mandi | 1% |
| Mumbai | 2% |
| Muzzafarnagar | 2% |
| Nagpur | 3% |
| Raigarh | 0% |
| Raipur | 1% |
| Rourkela | 2% |
| Rudrapur | 3% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
Pig Iron
| Location | Change |
| Agra | -5% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
Sponge iron
| Location | Change |
| Bellary | 6% |
| Kolkata | -6% |
| Raigarh | 0% |
| Raipur | 4% |
| Rourkela | 0% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
2. Long products – Temporary revival
The upward trend in long products across almost all locations, except for some regional imbalances, gives a signal that despite very sluggish demand of rebars, wire rods and sections, Indian small producers are staging a come back. But some senior market players opine that there is further scope of cutting down prices of long products, which may happen if the demand continues to remain so sluggish.
We understand that due to low sales level the inventories are piling up with all major players, which may be forced to cut their realizations in December. The situation is compounded by the increasing gap between major producer and secondary prouder rebar prices shifting the residual demand towards cheaper option at the cost of compromising in quality.
TMT
Fe 415
12mm
| Location | Change |
| Ahmedabad | 2% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | 2% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mandi | -2% |
| Mumbai | 2% |
| Raipur | 0% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 2% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | -3% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | 0% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mandi | 0% |
| Mumbai | 2% |
| Raipur | 0% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
CNHL
Grade A
75/40
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | -3% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mandi | 0% |
| Mumbai | 2% |
| Raipur | 0% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
JSTI
Grade A
250X125
Location Change
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | -2% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | -1% |
| Mumbai | 2% |
| Raipur | 0% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
3. Flat products – Bad news continues
Indian fat product market continued to reel under lower global offers forcing steel majors like SAIL to cut pries by INR 500 per tonne to reduce the pace of inventory build up.
With the low priced import arrivals in huge quantities, the situation is likely to get worse in coming days and Indian steel majors ay have to reduce price further in December beginning.
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | -1% |
| Delhi | -1% |
| Indore | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mumbai | 0% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | -1% |
| Mandi | 3% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | 0% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | -1% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | -1% |
| Pune | -1% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | -1% |
Change is on November 20th as compared to November 13th 2009
Change is in INR per tonne
4. Indian Export Levels – European spur
The export levels for Indian galvanizers went up last week predominantly on the back of pre winter buying by European buyers.
| Item | Grade | Size | Delivery | Change |
| HDG | 100Gms | 0.4 | FOB Mumbai | 10 |
| HDG | 100Gms | 0.58 | FOB Mumbai | 0 |
| HDG | 275Gms | 0.75 | FOB Mumbai | 10 |
| PLTS | Structural | 12-40x2.5 | FOB Vizag | 0 |
| PPGI | Standard RAL | 0.4 | FOB Mumbai | 10 |
Change is on November 20th as compared to November 13th 2009
Change is in USD per tonne
Indian Import Levels – Chinese hopes vanishing
Chinese offers for HR firmed up further last week. HRC in SS 400 in 3mm to 12mm in 1250/1500 was being offered at USD 530 per tonne CFR levels up by USD 10 pr tonne from previous week.
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