Long product market in India slumps as month end excitement fizzles away. During last week, the drama of rally in long product prices terminated exposing the real levels. Subterfuge evident in the last few days saw light of the day as the mills opted for roll over. Indian mills were still susceptible in risking a hike with economic headwinds yet to abate.
Impact of the excitement fizzling away prices plummeted all over India. However a belated rally in steel prices cannot be over ruled so soon. With economic headlines making waves of late as inflation plummets and economic growth picks up in the penultimate months before culmination of FY ’12. Till than market will stay put swinging to speculative calypso
The suspense over February pricing ended in whimper with the mills opting for roll over. Succinctly it is tactful move by the Indian mills averse to taking chances when the demand incubating after harrowing Q3.
Key demand driving parameters from infrastructure and manufacturing sectors yet to blossom prudence was sensible. Undeniably Q4 portends to be break from the mossy Q2 & Q3 with most of the economic indicators showing a healthy trend.
With inflation dipping to and encouraging 7.4% in November and the IIP making a turnaround at 5.6% economic headwinds are ebbing for a change. HSBC Markit PMI at 57 points in January has sent rankles in the already ascendant market. Auto sector has shown encouraging tendency with most the major recording accelerated production and sales.
The Indian Long Product Price Index ILPPI has gone down by 5 points last week whereas Indian Flat Products Index IFPPI has gone up by 52 points. The overall price index INDSPI inclined by 22 points.
| Class | 27-Jan | 03-Feb | Change | % |
| ILPPI | 9066 | 9061 | -5 | -0.1% |
| IFPPI | 8864 | 8916 | 52 | 0.6% |
| INDSPI | 8970 | 8992 | 22 | 0.2% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 27-Jan | 03-Feb | Change | % |
| PI - TMT | 9250 | 9225 | -25 | -0.3% |
| PI - WRC | 9205 | 9224 | 19 | 0.2% |
| PI - Angle | 8586 | 8574 | -12 | -0.1% |
| PI - Channel | 8718 | 8710 | -8 | -0.1% |
| PI - Joist | 8047 | 8039 | -8 | -0.1% |
PI - Product Index
Flat products
| Category | 27-Jan | 03-Feb | Change | % |
| PI - Narrow Plates | 8499 | 8540 | 41 | 0.5% |
| PI - Wide Plates | 8831 | 8836 | 5 | 0.1% |
| PI - Hot Rolled | 8645 | 8726 | 81 | 0.9% |
| PI - Cold Rolled | 9539 | 9551 | 12 | 0.1% |
| PI - Galvanized | 9295 | 9316 | 21 | 0.2% |
PI - Product Index
These indices have base of 10,000 as on July 1st 2008
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1. Input material
Melting scrap
80:20
HMS
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Hyderabad | 2% |
| Kandla | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 1% |
| Mandi | 0% |
| Mumbai | -4% |
| Rudrapur | 0% |
Change is on Feb 3rd as compared to 27th Jan 2012
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 0.0% |
| Ships | Mixed | -1.9% |
Change is on Feb 3rd as compared to 27th Jan 2012
Pencil ingot
| Location | Change |
| Ahmedabad | 0% |
| Alang | 0% |
| Bhiwari | 2% |
| Chennai | 0% |
| Durgapur | 0% |
| Ghaziabad | 1% |
| Hyderabad | -3% |
| Jaipur | -1% |
| Jamshedpur | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Muzaffarnagar | 1% |
| Nagpur | 0% |
| Raigarh | -1% |
| Raipur | -2% |
| Rourkela | -1% |
| Rudrapur | 0% |
Change is on Feb 3rd as compared to 27th Jan 2012
Pig Iron
| Location | Change |
| Agra | 2% |
| Jallandhar | 2% |
| Kolkata | 3% |
| Ludhiana | 2% |
| Raipur | 2% |
Change is on Feb 3rd as compared to 27th Jan 2012
Sponge iron
| Location | Change |
| Bellary | 0% |
| Kolkata | 0% |
| Ludhiana | -1% |
| Raigarh | 0% |
| Raipur | -1% |
| Rourkela | -1% |
Change is on Feb 3rd as compared to 27th Jan 2012
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | -1% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Muzaffarnagar | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Feb 3rd as compared to 27th Jan 2012
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Feb 3rd as compared to 27th Jan 2012
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Feb 3rd as compared to 27th Jan 2012
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Feb 3rd as compared to 27th Jan 2012
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Feb 3rd as compared to 27th Jan 2012
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 3% |
| Indore | 0% |
| Kolkata | 1% |
| Ludhiana | -2% |
| Mumbai | 1% |
Change is on Feb 3rd as compared to 27th Jan 2012
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | 0% |
| Mandi | -1% |
Change is on Feb 3rd as compared to 27th Jan 2012
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 4% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 1% |
| Rudrapur | 0% |
Change is on Feb 3rd as compared to 27th Jan 2012
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 1% |
| Raipur | -2% |
| Rudrapur | 0% |
Change is on Feb 3rd as compared to 27th Jan 2012
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mumbai | 1% |
| Pune | 0% |
| Rudrapur | 0% |
Change is on Feb 3rd as compared to 27th Jan 2012
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | 1% |
| Delhi | 0% |
| Ludhiana | 0% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Feb 3rd as compared to 27th Jan 2012
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Ludhiana | -1% |
| Rudrapur | 0% |
Change is on Feb 3rd as compared to 27th Jan 2012
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Products covered
1. Input materials - Iron ore, scrap, sponge iron, pig iron pencil ingot, billets and blooms
2. Long products - Rebar, wire rod, angle, channel and joists
3. Flat products - Narrow plates, wide plates, HR, CR and galvanized
4. Others - Pipes
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