Indian domestic steel prices continued to exhibit strong upward sentiments last week, but some signs of weakening were visible for long products in the later part of the week.
After 16 days of mad rush, which started on Holi, the upward movement in the Indian steel market paused for the first time in last 16 days. The prices movement on March 17th 2010 was subdued, especially for long products, but recovery was again seen on Friday.
But the frenzied buying of steel both by users and traders, in order to secure there requirements at lower prices and attempt to make huge profits respectively, may continue to fuel the market. Indications of huge price hike in April by Indian steel majors would also continue to prop up the sentiments.
As per unconfirmed reports, most of the flat product producers have undertaken mid month price increase of INR 500 per tonne to INR 1000 per tonne and are likely to go for major increase on April opening, citing cost pressures.
Since the beginning of March, when Indian steel majors announced their pricing for the month of March, the market prices have surged by more than 10%.During this period Indian Long Product Price Index ILPPI went up by 768 points or 11% to 7537 whereas Indian Flat Product Price Index IFPPI surged by 661 points or 9% to 8234. The overall Indian Steel Price Index INDSPI went up by 717 points or 10% to 7869.
This recent surge in market prices have brought up the price levels closer to the PEAK of July-September 2008 with gap narrowing to just about 20%
Last week trend
| Class | 12-Mar | 19-Mar | Change | % |
| ILPPI | 7234 | 7453 | 219 | 3.0% |
| IFPPI | 7909 | 8127 | 218 | 2.8% |
| INDSPI | 7555 | 7774 | 219 | 2.9% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 12-Mar | 19-Mar | Change | % |
| PI - TMT | 7086 | 7311 | 225 | 3.2% |
| PI - WRC | 7670 | 7869 | 199 | 2.6% |
| PI - Angle | 6814 | 7065 | 251 | 3.7% |
| PI - Channel | 6895 | 7148 | 252 | 3.7% |
| PI - Joist | 6347 | 6590 | 242 | 3.8% |
PI - Product Index
Flat products
| Category | 12-Mar | 19-Mar | Change | % |
| PI - Narrow Plates | 7571 | 7769 | 198 | 2.6% |
| PI - Wide Plates | 7816 | 7974 | 158 | 2.0% |
| PI - Hot Rolled | 7712 | 7951 | 240 | 3.1% |
| PI - Cold Rolled | 8464 | 8695 | 230 | 2.7% |
| PI - Galvanized | 8494 | 8651 | 157 | 1.8% |
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 |
| Chennai | 7% |
| Kandla | 0% |
| Kanpur | 0% |
| Kolkata | -4% |
| Mandi | -5% |
| Mumbai | 4% |
Change is on March 19th 2010 as compared to March 12th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 2% |
| Ships | Mixed | 2% |
Change is on March 19th 2010 as compared to March 12th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 3% |
| Bhiwari | 0% |
| Durgapur | 0% |
| Ghaziabad | 2% |
| Hyderabad | 0% |
| Jaipur | -1% |
| Jamshedpur | 10% |
| Kanpur | 2% |
| Kolkata | 5% |
| Mandi | 1% |
| Mumbai | 4% |
| Muzzafarnagar | 1% |
| Nagpur | 2% |
| Raigarh | 0% |
| Raipur | 2% |
| Rourkela | 5% |
| Rudrapur | 1% |
Change is on March 19th 2010 as compared to March 12th 2010
Pig Iron
| Location | Change |
| Agra | 4% |
| Jallandhar | 4% |
| Kolkata | 4% |
| Raipur | 4% |
Change is on March 19th 2010 as compared to March 12th 2010
Sponge iron
| Location | Change |
| Bellary | 5% |
| Kolkata | 5% |
| Raigarh | 15% |
| Raipur | 6% |
| Rourkela | 5% |
Change is on March 19th 2010 as compared to March 12th 2010
2. Long products
TMT
Fe 415
12mm
| Location | Change |
| Ahmedabad | 3% |
| Chennai | 4% |
| Delhi | 4% |
| Indore | 0% |
| Kanpur | 3% |
| Kolkata | 2% |
| Mandi | 1% |
| Mumbai | 3% |
| Raipur | 2% |
Change is on March 19th 2010 as compared to March 12th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 3% |
| Delhi | 3% |
| Kanpur | 1% |
| Kolkata | 4% |
| Raipur | 2% |
Change is on March 19th 2010 as compared to March 12th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 4% |
| Bangalore | 6% |
| Chennai | 3% |
| Delhi | 3% |
| Indore | 1% |
| Kanpur | 3% |
| Kolkata | 5% |
| Mandi | 3% |
| Mumbai | 3% |
| Raipur | 2% |
Change is on March 19th 2010 as compared to March 12th 2010
CNHL
Grade A
75/40
| Location | Change |
| Ahmedabad | 4% |
| Bangalore | 6% |
| Chennai | 3% |
| Delhi | 3% |
| Indore | 2% |
| Kanpur | 4% |
| Kolkata | 4% |
| Mandi | 2% |
| Mumbai | 3% |
| Raipur | 2% |
Change is on March 19th 2010 as compared to March 12th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 5% |
| Bangalore | 8% |
| Chennai | 3% |
| Delhi | 3% |
| Indore | 3% |
| Kanpur | 3% |
| Kolkata | 4% |
| Mandi | 2% |
| Mumbai | 3% |
| Raipur | 2% |
Change is on March 19th 2010 as compared to March 12th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 4% |
| Bangalore | 2% |
| Chennai | 4% |
| Delhi | 4% |
| Indore | 3% |
| Kolkata | 1% |
| Ludhiana | 2% |
| Mumbai | 1% |
Change is on March 19th 2010 as compared to March 12th 2010
Patra
| Location | Change |
| Delhi | 3% |
| Ludhiana | 7% |
| Mandi | 3% |
Change is on March 19th 2010 as compared to March 12th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 4% |
| Delhi | 5% |
| Kanpur | 2% |
| Kolkata | 1% |
| Mumbai | 1% |
Change is on March 19th 2010 as compared to March 12th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 2% |
| Chennai | 1% |
| Delhi | 4% |
| Indore | 6% |
| Kanpur | 2% |
| Kolkata | 1% |
| Mumbai | 1% |
| Raipur | 5% |
Change is on March 19th 2010 as compared to March 12th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 5% |
| Chennai | 4% |
| Delhi | 4% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mumbai | 3% |
| Pune | 3% |
Change is on March 19th 2010 as compared to March 12th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 2% |
| Chennai | 3% |
| Delhi | 3% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mumbai | 3% |
Change is on March 19th 2010 as compared to March 12th 2010
4. Indian Export Levels
Export levels of HDG and PPGI from Indian mills surged further last week
Change is on March 19th 2010 as compared to March 12th 2010
Change is in USD per tonne
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