Indian domestic steel prices sentiments continued to remain weak in the last week. The Indian Long Product Price Index ILPPI increased by a small 5 points whereas Indian Flat Products Index IFPPI dipped by 17 points. The overall price index INDSPI decreased by 5 points.
| Class | 20-Nov | 27-Nov | Change | % |
| ILPPI | 5832 | 5838 | 5 | 0.1% |
| IFPPI | 7169 | 7153 | -17 | -0.2% |
| INDSPI | 6469 | 6464 | -5 | -0.1% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 20-Nov | 27-Nov | Change | % |
| PI - TMT | 5526 | 5539 | 13 | 0.2% |
| PI - WRC | 6356 | 6356 | 0 | 0.0% |
| PI - Angle | 5508 | 5510 | 1 | 0.0% |
| PI - Channel | 5548 | 5536 | -12 | -0.2% |
| PI - Joist | 5205 | 5219 | 14 | 0.3% |
PI - Product Index
Flat products
| Category | 20-Nov | 27-Nov | Change | % |
| PI - Narrow Plates | 6825 | 6846 | 20 | 0.3% |
| PI - Wide Plates | 6962 | 6965 | 3 | 0.0% |
| PI - Hot Rolled | 7016 | 6989 | -26 | -0.4% |
| PI - Cold Rolled | 7745 | 7724 | -21 | -0.3% |
| PI - Galvanized | 7597 | 7580 | -17 | -0.2% |
PI - Product Index
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1. Input material - Contradictory movements
The Indian scrap market continued to reel under the impact of depressed long product prices. The sea saw movements culminated price depreciation by up to 2%. The peculiarity of this price movements is all the more magnified with a rather reverberant international scrap prices. Mumbai being the sole exception probably under the impact of international price being a major importing centre.
However the only bright spot being Sponge Iron prices appreciating by upto 2% as a result of improvement in Iron ore prices reeling under curtailed supply and increased export pressure.
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | 0% |
| Kandla | -1% |
| Kanpur | -2% |
| Kolkata | -2% |
| Mandi | -2% |
| Mumbai | 1% |
Change is on November 27th as compared to November 20th 2009
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -4% |
| Ships | Mixed | -1% |
Change is on November 27th as compared to November 20th 2009
Pencil ingot
| Location | Change |
| Ahmedabad | -1% |
| Bhiwari | -1% |
| Durgapur | -1% |
| Ghaziabad | 0% |
| Hyderabad | -1% |
| Jaipur | 0% |
| Jamshedpur | 0% |
| Kanpur | -2% |
| Kolkata | 2% |
| Mandi | -1% |
| Mumbai | 1% |
| Muzzafarnagar | -1% |
| Nagpur | -1% |
| Raigarh | 2% |
| Raipur | 0% |
| Rourkela | -2% |
| Rudrapur | -2% |
Change is on November 27th as compared to November 20th 2009
Pig Iron
| Location | Change |
| Agra | 2% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on November 27th as compared to November 20th 2009
Sponge iron
| Location | Change |
| Bellary | 2% |
| Kolkata | 6% |
| Raigarh | 1% |
| Raipur | 0% |
| Rourkela | 0% |
Change is on November 27th as compared to November 20th 2009
2. Long products - Catch twenty situation
Construction steel prices have been under pressure since July. It has defied all prophesies of demand generation in the 3rd Quarter as the impact of stimulus sinks. It was expected that their would be a growth tin demand of from the rural sector as construction activity picks up. Ironically prices have only slumped month on month as existing projects are on the verge of completion and not many new projects are coming up. On the flip side producers have been hesitant to lower their quotations owing to spurt in price of iron ore and scrap.
The producers are faced with a situation where they have to remain adamant to cover their costs if not push for price increase or perish. The latter being a poison pill they seemed to contented with former.
TMT
Fe 415
12mm
| Location | Change |
| Ahmedabad | -1% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | -1% |
| Kolkata | 2% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 0% |
Change is on November 27th as compared to November 20th 2009
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on November 27th as compared to November 20th 2009
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | -1% |
| Kanpur | -1% |
| Kolkata | 1% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 0% |
Change is on November 27th as compared to November 20th 2009
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 0% |
Change is on November 27th as compared to November 20th 2009
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 2% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 0% |
Change is on November 27th as compared to November 20th 2009
3. Flat products - Agony compounds
Indian flat product steelmakers have downgraded their flat rolled material prices for the second time by INR 500 on 16th November bulking under abject absence of demand. Abundant import of HRC due to lower prices still having an advantage of INR 3000 per tonne over domestic levels. The agony has been further compounded with appreciation in the Rupee.
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kolkata | -1% |
| Ludhiana | -1% |
| Mumbai | 0% |
Change is on November 27th as compared to November 20th 2009
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | 1% |
| Mandi | 0% |
Change is on November 27th as compared to November 20th 2009
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | 3% |
| Mumbai | -1% |
Change is on November 27th as compared to November 20th 2009
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 3% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 0% |
| Raipur | 0% |
Change is on November 27th as compared to November 20th 2009
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | -1% |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | -1% |
| Pune | -1% |
Change is on November 27th as compared to November 20th 2009
GC
100Gms
0.4
| Location | Change |
| Bangalore | -2% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | -1% |
Change is on November 27th as compared to November 20th 2009
4. Indian Export Levels - Holds forte
HDG and PPGI prices remained firm owing to improved demand from Europe . European buyers indulged on buying to replenish their depleted stock before Christmas and New Year holidays and to cover their requirement post holidays.
| Item | Grade | Size | Delivery | Change |
| HDG | 100Gms | 0.4 | FOB Mumbai | 0 |
| HDG | 100Gms | 0.58 | FOB Mumbai | 0 |
| HDG | 275Gms | 0.75 | FOB Mumbai | 0 |
| PLTS | Structural | 12-40x2.5 | FOB Vizag | 0 |
| PPGI | Standard RAL | 0.4 | FOB Mumbai | 0 |
Change is on November 27th as compared to November 20th 2009
In USD per tonne
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