Indian domestic steel prices decline ebbed for a change. The Indian Long Product Price Index ILPPI fell by fell by 33 points, whereas the Indian Flat Products Index IFPPI remained almost stable with a marginal correction of 7 points. The overall price index INDSPI dipped by 14 points.
Indian domestic steel prices seems to have bottomed out as there has not been any major dip in the week except for minor fluctuations due to transient local sentiments. The main dampener was belied hope of increment in import duty to 15% and economic revival package .This phase is expected to last without any significant variance owing to political fundamentals rather than economics till the new government is in place whereby anticipation of policy changes can give some succor to the market.
| Class | 13-Feb | 20-Feb | Change | % |
| ILPPI | 6701 | 6668 | -33 | -0.5% |
| IFPPI | 6542 | 6549 | 7 | 0.1% |
| IDSPI | 6625 | 6611 | -14 | -0.2% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 13-Feb | 20-Feb | Change | % |
| PI - TMT | 6490 | 6476 | -14 | -0.2% |
| PI - WRC | 7184 | 7123 | -62 | -0.9% |
| PI - Angle | 6318 | 6288 | -30 | -0.5% |
| PI - Channel | 6335 | 6337 | 2 | 0.0% |
| PI - Joist | 5899 | 5891 | -9 | -0.2% |
Flat products
| Category | 13-Feb | 20-Feb | Change | % |
| PI - Narrow Plates | 6187 | 6160 | -27 | -0.4% |
| PI - Wide Plates | 6562 | 6592 | 31 | 0.5% |
| PI - Hot Rolled | 6384 | 6393 | 9 | 0.1% |
| PI - Cold Rolled | 7092 | 7099 | 7 | 0.1% |
| PI - Galvanized | 6780 | 6786 | 6 | 0.1% |
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Input materials slides
The scrap price was bag of mixed movements with stability at the metropolis but slide at small locations. The main reason for sluggishness is the lack of impetus in long demand, which is having a counter pressure on the scrap and ingot prices. This is also supplemented by the report that ship breaking scrap business is booming with an inventory of 1 million tonne at Alang and fresh arrivals at enhanced velocity which is having a cascading effect on the overall sentiments in secondary sector.
Sponge iron and pig iron prices remained almost stable with fall in Raipur being balanced by hike in Kolkata. However it is expected to remain depressed in the coming weeks as the prices of Iron ore has dipped by 10% in the last week as Chinese iron ore buyers vanished due to low demand and sentiment in Chinese steel market.
Melting scrap
80:20
HMS
| Location | Change | % |
| Chennai | 255 | 1.6% |
| Kandla | -784 | -4.0% |
| Mumbai | 300 | 1.7% |
| Mandi | -174 | -0.9% |
| Kolkata | 0 | 0.0% |
| Kanpur | -174 | -1.0% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
Alang
| Product | Size | Size | Change | % |
| Ships | Mixed | Mixed | -900 | -5.4% |
| Plate cuttings | 1” | 1” | -1000 | -5.2% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
Pencil ingot
| Location | Change | % |
| Mumbai | -400 | -1.7% |
| Mandi | -725 | -3.0% |
| Raipur | -784 | -3.7% |
| Kanpur | -436 | -1.9% |
| Kolkata | 1421 | 6.2% |
| Ghaziabad | -400 | -1.7% |
| Muzzafarnagar | -697 | -2.9% |
| Ahmedabad | -800 | -3.5% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
Pig Iron
| Location | Change | % |
| Raipur | -900 | -4.7% |
| Kolkata | 1143 | 6.2% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
Sponge iron
| Location | Change | % |
| Raipur | -900 | -5.8% |
| Kolkata | 931 | 6.2% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
Long products prices show minor fluctuations
The Indian domestic prices for long products exhibited a definite pattern of no significant movement in all locations. The mild fluctuations had more to do with traders attempt to clear off stockpile by creating a transient positive sentiment in the market.
However certain exceptions were also seen during the week.
TMT
Fe 415
12mm
| Location | Change | % |
| Chennai | 800 | 2.7% |
| Mumbai | 344 | 1.1% |
| Mandi | -312 | -0.9% |
| Kolkata | 0 | 0.0% |
| Delhi | -557 | -1.7% |
| Kanpur | -300 | -0.9% |
| Ahmedabad | -2065 | -6.6% |
| Indore | -700 | -2.1% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
WRC
SWR14
5.5/6
| Location | Change | % |
| Chennai | -100 | -0.4% |
| Raipur | -436 | -1.5% |
| Kolkata | 0 | 0.0% |
| Delhi | -453 | -1.4% |
| Kanpur | -261 | -0.9% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
ANGL
GR A
65x6
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | 0 | 0.0% |
| Mandi | 0 | 0.0% |
| Raipur | -1040 | -3.4% |
| Kolkata | 0 | 0.0% |
| Delhi | -520 | -1.6% |
| Kanpur | -400 | -1.3% |
| Ahmedabad | -1377 | -4.6% |
| Indore | -400 | -1.3% |
| Bangalore | 1000 | 3.3% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
CHNL
GR A
75/100
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | 574 | 1.8% |
| Mandi | -312 | -0.9% |
| Raipur | -1040 | -3.4% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | -200 | -0.6% |
| Ahmedabad | -1377 | -4.6% |
| Indore | -400 | -1.2% |
| Bangalore | 1500 | 4.8% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
JSTI
GR A
250x125
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | 574 | 1.7% |
| Mandi | -104 | -0.3% |
| Raipur | -1040 | -3.3% |
| Kolkata | 0 | 0.0% |
| Delhi | -312 | -0.9% |
| Kanpur | -1000 | -3.0% |
| Ahmedabad | -312 | -1.0% |
| Indore | -300 | -0.9% |
| Bangalore | 1000 | 3.1% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
Flat products prices decline ebbs
The flat product market remains stable despite the news of major import booking of nearly 200,000 tonnes of HRC and arrival of 3500 tonnes of plates from JSPL in Mumbai. The prices might take a dip in the coming fortnight as the after effect of these significant movements will take sometime to sink.
HRC
Tube
2.5x1250
| Location | Change | % |
| Mumbai | 453 | 1.6% |
| Ludhiana | 181 | 0.7% |
| Kolkata | -1046 | -3.7% |
| Delhi | 453 | 1.6% |
| Ahmedabad | 0 | 0.0% |
| Indore | 0 | 0.0% |
| Bangalore | 0 | 0.0% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
Patra
| Location | Change | % |
| Ludhiana | -272 | -1.0% |
| Mandi | -634 | -2.3% |
| Delhi | 0 | 0.0% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
PLTS
GRA
8x1.5
| Location | Change | % |
| Chennai | 500 | 1.8% |
| Mumbai | 0 | 0.0% |
| Kolkata | -436 | -1.6% |
| Delhi | 0 | 0.0% |
| Kanpur | -87 | -0.3% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
PLTS
GRB
12-20x2.5
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | 680 | 2.2% |
| Raipur | 0 | 0.0% |
| Kolkata | 0 | 0.0% |
| Delhi | 453 | 1.5% |
| Kanpur | 349 | 1.2% |
| Ahmedabad | 0 | 0.0% |
| Indore | 0 | 0.0% |
| Bangalore | 0 | 0.0% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
CR
DSK
0.63x1000
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | 0 | 0.0% |
| Pune | 0 | 0.0% |
| Kolkata | -436 | -1.4% |
| Delhi | 453 | 1.4% |
| Kanpur | 436 | 1.3% |
| Ahmedabad | 0 | 0.0% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
GC
100Gms
0.4
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | 436 | 1.2% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | 1307 | 3.7% |
| Bangalore | 0 | 0.0% |
Change is on February 20th is with respect to February 13th 2009
Change is in INR per tonne
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