Long products and flat product prices showed massive decline in India last week due to over supply and lack of demand. The Long products Price Index (ILPPI) fell by 123 points whereas Flat Product Price Index (IFPPI) fell by a massive 223 points. The overall price index INDSPI fell by 171 points
| Class | 28-Nov | 5-Dec | Change | % |
| ILPPI | 7278 | 7155 | -123 | -1.7% |
| IFPPI | 7299 | 7076 | -223 | -3.1% |
| IDSPI | 7288 | 7117 | -171 | -2.3% |
ILPPI – Indian Long Product Price Index
IFPPI – Indian Flat Product Price Index
INDSPI – Indian Steel Price Index
The lowest values since, August 5th 2008, showing decline in the last week although still above the lowest value reached earlier:
| Class | Date | Lowest |
| ILPPI | 27-Oct | 6672 |
| IFPPI | 27-Nov | 7038 |
| INDSPI | 28-Nov | 7092 |
ILPPI – Indian Long Product Price Index
IFPPI – Indian Flat Product Price Index
INDSPI – Indian Steel Price Index
Long products
| Category | 28-Nov | 5-Dec | Change |
| PI - TMT | 7311 | 7075 | -236 |
| PI - WRC | 7383 | 7397 | 14 |
| PI - Angle | 7053 | 6832 | -222 |
| PI - Channel | 7129 | 6924 | -204 |
| PI - Joist | 6866 | 6785 | -81 |
Flat products
| Category | 28-Nov | 5-Dec | Change |
| PI - Narrow Plates | 6925 | 6650 | -276 |
| PI - Wide Plates | 7543 | 7261 | -283 |
| PI - Hot Rolled | 7142 | 6945 | -197 |
| PI - Cold Rolled | 7787 | 7576 | -212 |
| PI - Galvanized | 7338 | 7134 | -204 |
To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html
Input materials
Domestic prices for input material showed mixed trend across various locations which might be due to temporary demand supply mismatch
Melting scrap
80:20
HMS
| Location | Change | % |
| Chennai | -1500 | -9.4% |
| Kandla | 2521 | 16.7% |
| Mumbai | 148 | 0.8% |
| Mandi | 1311 | 7.1% |
| Kolkata | 420 | 2.6% |
| Kanpur | 1849 | 12.2% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
Alang
| Product | Grade | Size | Change | % |
| Ships | Melting | Mixed | 200 | 1.1% |
| Plate cuttings | Rolling | 1” | -300 | -1.4% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
Pencil ingot
| Location | Change | % |
| Mumbai | -600 | -2.5% |
| Mandi | 1573 | 6.9% |
| Raipur | 756 | 3.6% |
| Kanpur | 1513 | 6.9% |
| Kolkata | 840 | 4.0% |
| Ghaziabad | 1800 | 8.0% |
| Muzzafarnagar | 2101 | 10.0% |
| Ahmedabad | -200 | -0.8% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
Pig Iron
| Location | Change | % |
| Raipur | 900 | 4.6% |
| Kolkata | -420 | -2.0% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
Sponge iron
| Location | Change | % |
| Raipur | 900 | 7.7% |
| Kolkata | -2101 | -14.3% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
Long products
TMT
Fe 415
12mm
| Location | Change | % |
| Chennai | -4160 | -10.4% |
| Mumbai | -595 | -1.7% |
| Mandi | 728 | 2.0% |
| Kolkata | 1000 | 3.2% |
| Delhi | -866 | -2.4% |
| Kanpur | 1100 | 3.4% |
| Ahmedabad | -1768 | -5.0% |
| Indore | 2000 | 5.7% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
WRC
SWR14
5.5/6
| Location | Change | % |
| Chennai | -1748 | -5.1% |
| Raipur | 756 | 2.8% |
| Kolkata | 1092 | 4.1% |
| Delhi | 0 | 0.0% |
| Kanpur | 756 | 2.5% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
ANGL
GR A
65x6
| Location | Change | % |
| Chennai | -2080 | -5.5% |
| Mumbai | -1785 | -4.9% |
| Mandi | 1040 | 3.0% |
| Raipur | 936 | 3.0% |
| Kolkata | -300 | -0.9% |
| Delhi | -1508 | -4.4% |
| Kanpur | 0 | 0.0% |
| Ahmedabad | -624 | -1.9% |
| Indore | 850 | 2.5% |
| Bangalore | -4500 | -11.7% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
CHNL
GR A
75/100
| Location | Change | % |
| Chennai | -3640 | -9.0% |
| Mumbai | -1785 | -4.9% |
| Mandi | 1040 | 2.9% |
| Raipur | 936 | 3.0% |
| Kolkata | 200 | 0.6% |
| Delhi | -1040 | -2.9% |
| Kanpur | 0 | 0.0% |
| Ahmedabad | -676 | -2.1% |
| Indore | 500 | 1.4% |
| Bangalore | -2500 | -6.5% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
JSTI
GR A
250x125
| Location | Change | % |
| Chennai | -2080 | -4.4% |
| Mumbai | -1190 | -3.2% |
| Mandi | 936 | 2.7% |
| Raipur | 936 | 2.9% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | 800 | 2.3% |
| Ahmedabad | -416 | -1.2% |
| Indore | -500 | -1.4% |
| Bangalore | -1500 | -4.0% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
Flat products
The flat product maintained its downward trend at an accelerated pace
HRC
Tube
2.5x1250
| Location | Change | % |
| Mumbai | 437 | 1.5% |
| Ludhiana | -2010 | -6.9% |
| Kolkata | -840 | -2.5% |
| Delhi | -1748 | -5.6% |
| Ahmedabad | -874 | -2.5% |
| Indore | -1681 | -5.3% |
| Bangalore | -840 | -2.7% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
Patra
| Location | Change | % |
| Ludhiana | -1100 | -3.3% |
| Mandi | 1136 | 4.3% |
| Delhi | -437 | -1.5% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
PLTS
GRA
8x1.5
| Location | Change | % |
| Chennai | -4973 | -14.2% |
| Mumbai | 0 | 0.0% |
| Kolkata | -840 | -2.6% |
| Delhi | -874 | -2.9% |
| Kanpur | -840 | -2.6% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
PLTS
GRB
12-20x2.5
| Location | Change | % |
| Chennai | -4765 | -13.2% |
| Mumbai | 874 | 2.4% |
| Raipur | -2521 | -6.7% |
| Kolkata | -420 | -1.3% |
| Delhi | -874 | -2.7% |
| Kanpur | -420 | -1.3% |
| Ahmedabad | -3059 | -8.0% |
| Indore | -1429 | -4.5% |
| Bangalore | -2101 | -6.2% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
CR
DSK
0.63x1000
| Location | Change | % |
| Chennai | -2328 | -5.6% |
| Mumbai | -1748 | -5.2% |
| Pune | -1748 | -5.1% |
| Kolkata | 420 | 1.1% |
| Delhi | -3496 | -10.0% |
| Kanpur | -1261 | -3.5% |
| Ahmedabad | -874 | -2.4% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
GC
100Gms
0.4
| Location | Change | % |
| Chennai | -14132 | -26.9% |
| Mumbai | 0 | 0.0% |
| Kolkata | -1261 | -2.8% |
| Delhi | 0 | 0.0% |
| Kanpur | -1345 | -3.4% |
| Bangalore | -2941 | -7.2% |
Change on December 5th is with respect to November 28th 2008
Change is in INR per tonne
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The prices for long and flat product are expected to decline in the coming weeks since major steel producers are having high inventory. Steel major SAIL has already rung the bell by giving massive rebate in flat products in North and South, but this is not expected to have any significant impact on the market sentiments due to lack of demand . It is also rumored that a big cargo of TMT from China is expected in Chennai in the coming weeks thereby mellowing the sentiments further.
