Buoyed by the positive sentiment of increase de to excise duty hike, Indian domestic steel prices exhibited strong upward sentiments last week.
Although the actual effect of hike excise duty to consumer is limited to rebar, as other products are under MODVAT scheme, Indian steel majors increased their prices for all products by about 2% on first working day in March 2010.
The long products, especially rebar prices surged by about 4% last week, as steel makers became bullish on demand from construction and infrastructure segment. Financial year end demand coupled with peak construction period seems to be supporting the surge in long product prices.
On the other hand rise in flat product prices in India is being attributed to booming demand from consuming sectors especially auto segment. But the hike is supported by increase in global levels at Black Sea as well as higher import offers of HR from China.
The Indian Long Product Price Index ILPPI increased by 240 points or 3.5% whereas Indian Flat Products Index IFPPI increased by 201 points or 2.7%. The overall price index INDSPI increased by 222 points or 3.1%.
| Class | 26-Feb | 05-Mar | Change | % |
| ILPPI | 6769 | 7009 | 240 | 3.5% |
| IFPPI | 7573 | 7774 | 201 | 2.7% |
| INDSPI | 7152 | 7373 | 222 | 3.1% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 26-Feb | 05-Mar | Change | % |
| PI - TMT | 6478 | 6736 | 258 | 4.0% |
| PI - WRC | 7300 | 7544 | 243 | 3.3% |
| PI - Angle | 6455 | 6666 | 211 | 3.3% |
| PI - Channel | 6459 | 6686 | 227 | 3.5% |
| PI - Joist | 6019 | 6183 | 164 | 2.7% |
PI - Product Index
Flat products
| Category | 26-Feb | 05-Mar | Change | % |
| PI - Narrow Plates | 7259 | 7419 | 160 | 2.2% |
| PI - Wide Plates | 7604 | 7683 | 79 | 1.0% |
| PI - Hot Rolled | 7306 | 7544 | 238 | 3.3% |
| PI - Cold Rolled | 8161 | 8379 | 218 | 2.7% |
| PI - Galvanized | 8336 | 8480 | 144 | 1.7% |
PI - Product Index
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1. Input material
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | 3% |
| Kandla | 4% |
| Kanpur | 2% |
| Kolkata | 5% |
| Mandi | 3% |
| Mumbai | 1% |
Change is on March 5th 2010 as compared to February 26th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 2% |
| Ships | Mixed | 2% |
Change is on March 5th 2010 as compared to February 26th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 5% |
| Bhiwari | 3% |
| Durgapur | 6% |
| Ghaziabad | 3% |
| Hyderabad | 4% |
| Jaipur | 5% |
| Jamshedpur | 3% |
| Kanpur | 4% |
| Kolkata | 5% |
| Mandi | 4% |
| Mumbai | 3% |
| Muzzafarnagar | 3% |
| Nagpur | 5% |
| Raigarh | 3% |
| Raipur | 1% |
| Rourkela | 6% |
| Rudrapur | 3% |
Change is on March 5th 2010 as compared to February 26th 2010
Pig Iron
| Location | Change |
| Agra | 4% |
| Jallandhar | 4% |
| Kolkata | 4% |
| Raipur | 4% |
Change is on March 5th 2010 as compared to February 26th 2010
Sponge iron
| Location | Change |
| Bellary | 5% |
| Kolkata | 1% |
| Raigarh | 3% |
| Raipur | 1% |
| Rourkela | -2% |
Change is on March 5th 2010 as compared to February 26th 2010
2. Long products
TMT
Fe 415
12mm
| Location | Change |
| Ahmedabad | 6% |
| Chennai | 5% |
| Delhi | 3% |
| Indore | 2% |
| Kanpur | 4% |
| Kolkata | 3% |
| Mandi | 4% |
| Mumbai | 2% |
| Raipur | 2% |
Change is on March 5th 2010 as compared to February 26th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 6% |
| Delhi | 3% |
| Kanpur | 3% |
| Kolkata | 3% |
| Raipur | 1% |
Change is on March 5th 2010 as compared to February 26th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 5% |
| Bangalore | 5% |
| Chennai | 4% |
| Delhi | 3% |
| Indore | 2% |
| Kanpur | 4% |
| Kolkata | 3% |
| Mandi | 1% |
| Mumbai | 2% |
| Raipur | 1% |
Change is on March 5th 2010 as compared to February 26th 2010
CNHL
Grade A
75/40
| Location | Change |
| Ahmedabad | 5% |
| Bangalore | 5% |
| Chennai | 4% |
| Delhi | 3% |
| Indore | 2% |
| Kanpur | 4% |
| Kolkata | 5% |
| Mandi | 1% |
| Mumbai | 2% |
| Raipur | 1% |
Change is on March 5th 2010 as compared to February 26th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 3% |
| Bangalore | 4% |
| Chennai | 3% |
| Delhi | 3% |
| Indore | 2% |
| Kanpur | 2% |
| Kolkata | 5% |
| Mandi | -1% |
| Mumbai | 2% |
| Raipur | 1% |
Change is on March 5th 2010 as compared to February 26th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 3% |
| Bangalore | 8% |
| Chennai | 5% |
| Delhi | 3% |
| Indore | 4% |
| Kolkata | 1% |
| Ludhiana | 2% |
| Mumbai | 3% |
Change is on March 5th 2010 as compared to February 26th 2010
Patra
| Location | Change |
| Delhi | 3% |
| Ludhiana | 0% |
| Mandi | 2% |
Change is on March 5th 2010 as compared to February 26th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 5% |
| Delhi | 1% |
| Kanpur | 2% |
| Kolkata | 2% |
| Mumbai | 1% |
Change is on March 5th 2010 as compared to February 26th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 1% |
| Chennai | -2% |
| Delhi | 1% |
| Indore | 3% |
| Kanpur | 2% |
| Kolkata | 1% |
| Mumbai | 1% |
| Raipur | 4% |
Change is on March 5th 2010 as compared to February 26th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 1% |
| Chennai | 5% |
| Delhi | 3% |
| Kanpur | 3% |
| Kolkata | 2% |
| Mumbai | 1% |
| Pune | 1% |
Change is on March 5th 2010 as compared to February 26th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 4% |
| Chennai | 4% |
| Delhi | 3% |
| Kanpur | 3% |
| Kolkata | 1% |
| Mumbai | 0% |
Change is on March 5th 2010 as compared to February 26th 2010
4. Indian Export Levels
| 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 | 20 |
| PPGI | Standard RAL | 0.4 | FOB Mumbai | 0 |
Change is on March 5th 2010 as compared to February 26th 2010
Change is in USD per tonne
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