Indian domestic steel price correction started on a cautious note in last week. The Indian Long Product Price Index ILPPI improved by 24 points, whereas the Indian Flat Products Index IFPPI corrected by 62 points. The overall price index INDSPI inched up by 42 points
The factor prevalent in the last week was reduction of excise duty by 2% which infused some positivism.
Market seems to be in a resilient mood but one needs to be circumspect about any definite pattern. As such long product prices started weakening on Friday.
| Class | 20-Feb | 27-Feb | Change |
| ILPPI | 6668 | 6692 | 24 |
| IFPPI | 6549 | 6611 | 62 |
| IDSPI | 6611 | 6654 | 42 |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products:
| Category | 20-Feb | 27-Feb | Change |
| PI - TMT | 6476 | 6477 | 2 |
| PI - WRC | 7123 | 7162 | 40 |
| PI - Angle | 6288 | 6341 | 53 |
| PI - Channel | 6337 | 6373 | 36 |
| PI - Joist | 5891 | 5909 | 18 |
Flat products
| Category | 20-Feb | 27-Feb | Change |
| PI - Narrow Plates | 6160 | 6238 | 78 |
| PI - Wide Plates | 6592 | 6669 | 77 |
| PI - Hot Rolled | 6393 | 6448 | 54 |
| PI - Cold Rolled | 7099 | 7178 | 79 |
| PI - Galvanized | 6786 | 6824 | 38 |
To know more about these indices please visit
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Input materials slide
Steel scrap prices showed stability, nonetheless there were some pockets of negativity in scrap prices at Mumbai and Kolkata primarily due to bearish international scrap prices having an impact on these ports based cities.
Melting scrap
80:20
HMS
| Location | Change | % |
| Chennai | 272 | 1.7% |
| Kandla | 362 | 1.9% |
| Mumbai | -300 | -1.7% |
| Mandi | 553 | 2.8% |
| Kolkata | -1058 | -5.3% |
| Kanpur | 0 | 0.0% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
Alang
| Product | Size | Size | Change | % |
| Ships | Mixed | Mixed | 700 | 4.4% |
| Plate cuttings | 1" | 1" | 800 | 4.4% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
Pencil ingot
| Location | Change | % |
| Mumbai | 400 | 1.8% |
| Mandi | 1107 | 4.6% |
| Raipur | 1374 | 6.7% |
| Kanpur | 174 | 0.8% |
| Kolkata | -481 | -2.0% |
| Ghaziabad | 900 | 3.8% |
| Muzzafarnagar | 523 | 2.3% |
| Ahmedabad | 306 | 1.4% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
Pig Iron
| Location | Change | % |
| Raipur | 1000 | 5.5% |
| Kolkata | 0 | 0.0% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
Sponge iron
| Location | Change | % |
| Raipur | 1000 | 6.9% |
| Kolkata | 385 | 2.4% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
Long products prices remain stable
The dust seems to be settling after the whirlwind as prices remained unchanged post mayhem in the last couple of months.
There was nominal decline in TMT prices by 2% in Chennai and Mumbai and 1% in Kolkata which can at best be imputed to localized trading sentiments.
TMT
Fe 415
12mm
| Location | Change | % |
| Chennai | -500 | -1.6% |
| Mumbai | -598 | -1.9% |
| Mandi | 0 | 0.0% |
| Kolkata | -441 | -1.4% |
| Delhi | 159 | 0.5% |
| Kanpur | 200 | 0.6% |
| Ahmedabad | 246 | 0.8% |
| Indore | 200 | 0.6% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
WRC
SWR14
5.5/6
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Raipur | 1249 | 4.5% |
| Kolkata | -1058 | -3.5% |
| Delhi | 0 | 0.0% |
| Kanpur | 174 | 0.6% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
ANGL
GR A
65x6
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | -46 | -0.1% |
| Mandi | 520 | 1.5% |
| Raipur | 520 | 1.8% |
| Kolkata | 441 | 1.3% |
| Delhi | 520 | 1.7% |
| Kanpur | 400 | 1.3% |
| Ahmedabad | 252 | 0.9% |
| Indore | 200 | 0.6% |
| Bangalore | 0 | 0.0% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
CHNL
GR A
75/100
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | -57 | -0.2% |
| Mandi | 520 | 1.5% |
| Raipur | 312 | 1.1% |
| Kolkata | 110 | 0.3% |
| Delhi | 520 | 1.6% |
| Kanpur | 300 | 0.9% |
| Ahmedabad | 249 | 0.9% |
| Indore | 200 | 0.6% |
| Bangalore | 0 | 0.0% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
JSTI
GR A
250x125
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | -78 | -0.2% |
| Mandi | 520 | 1.5% |
| Raipur | 0 | 0.0% |
| Kolkata | 0 | 0.0% |
| Delhi | 520 | 1.6% |
| Kanpur | 300 | 0.9% |
| Ahmedabad | -104 | -0.3% |
| Indore | 200 | 0.6% |
| Bangalore | 0 | 0.0% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
Flat products prices improve
The trend of correction was prevalent across the country. Mumbai being the sole exception where Plate prices dipped due to influx of 3500 tonnes of JSPL plates leading to boost in supply.
HRC
Tube
2.5x1250
| Location | Change | % |
| Mumbai | 551 | 1.9% |
| Ludhiana | 816 | 2.9% |
| Kolkata | 436 | 1.6% |
| Delhi | 0 | 0.0% |
| Ahmedabad | 375 | 1.3% |
| Indore | 560 | 1.9% |
| Bangalore | 547 | 1.9% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
Patra
| Location | Change | % |
| Ludhiana | 634 | 2.4% |
| Mandi | 807 | 2.9% |
| Delhi | 0 | 0.0% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
PLTS
GRA
8x1.5
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | 534 | 1.9% |
| Kolkata | 610 | 2.3% |
| Delhi | 0 | 0.0% |
| Kanpur | 174 | 0.6% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
PLTS
GRB
12-20x2.5
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | -93 | -0.3% |
| Raipur | 589 | 1.9% |
| Kolkata | 523 | 1.9% |
| Delhi | 0 | 0.0% |
| Kanpur | 436 | 1.5% |
| Ahmedabad | 604 | 1.9% |
| Indore | 576 | 1.9% |
| Bangalore | 581 | 1.9% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
CR
DSK
0.63x1000
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | 604 | 1.9% |
| Pune | 604 | 1.9% |
| Kolkata | 523 | 1.6% |
| Delhi | 0 | 0.0% |
| Kanpur | 0 | 0.0% |
| Ahmedabad | 621 | 1.9% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
GC
100Gms
0.4
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | 698 | 1.9% |
| Kolkata | 0 | 0.0% |
| Delhi | 0 | 0.0% |
| Kanpur | 0 | 0.0% |
| Bangalore | 665 | 1.9% |
Change on February 27th is with respect to February 20th 2009
Change is in INR per tonne
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