The domestic steel prices in India for longs and flats exhibited opposite trends last week as longs price movement gave hope for stronger April opening, flats continued to languish.
Although it is too early to find a real direction, long prices were supported by surge in input material, mainly the pencil ingot. It has been observed post Holi the prices of ingot has picked in all the fore corners. This isolated rally seems more situational rather than arousal of demand as the rebar and structural prices continue to lag. The main reason behind this flurry is scarcity. With the mercury climbing, power shortage has become rampant in most regions severely affecting the productivity.
The factors supporting the tightness in longs include
1. Pick up in construction activity in projects as the financial year draws to a close.
2. Normalization of labour supply will lead to pick up in construction activity
3. Gradual stock depletion has led to low inventory with stockiest traders
On the other hand, flat product market in India continued to remain sluggish on abundant availability from Indian mills as well as lower priced import offers. HR offers from China were reported in the range of USD 680 per tonne to USD 710 per tonne CFR LO Mumbai, which translates to about INR 32000 per tonne to INR 34000 per tonne plus ED and VAT as compared to about INR 36000 per tonne from domestic mills and about INR 35000 per tonne for imported material. Thus the writing on the wall is clear.
The Indian Long Product Price Index ILPPI continued in upward trends with 17 points last week whereas Indian Flat Products Index IFPPI has gone down by 17 points. The overall price index INDSPI inclined by 1 point.
| Class | 18-Mar | 25-Mar | Change | % |
| ILPPI | 7951 | 7968 | 17 | 0.2% |
| IFPPI | 8961 | 8944 | -17 | -0.2% |
| INDSPI | 8432 | 8433 | 1 | 0.0% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 18-Mar | 25-Mar | Change | % |
| PI - TMT | 7827 | 7860 | 34 | 0.4% |
| PI - WRC | 8276 | 8269 | -7 | -0.1% |
| PI - Angle | 7696 | 7721 | 25 | 0.3% |
| PI - Channel | 7738 | 7776 | 38 | 0.5% |
| PI - Joist | 7280 | 7309 | 29 | 0.4% |
PI - Product Index
Flat products
| Category | 18-Mar | 25-Mar | Change | % |
| PI - Narrow Plates | 8222 | 8243 | 21 | 0.3% |
| PI - Wide Plates | 8616 | 8637 | 22 | 0.2% |
| PI - Hot Rolled | 8729 | 8701 | -28 | -0.3% |
| PI - Cold Rolled | 9959 | 9955 | -4 | 0.0% |
| PI - Galvanized | 9638 | 9571 | -68 | -0.7% |
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 | 2% |
| Hyderabad | 2% |
| Kandla | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mandi | 1% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 1% |
| Ships | Mixed | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
Pencil ingot
| Location | Change |
| Ahmedabad | 1% |
| Alang | 1% |
| Bhiwari | 2% |
| Chennai | 2% |
| Durgapur | 1% |
| Ghaziabad | 2% |
| Hyderabad | 2% |
| Jaipur | 2% |
| Jamshedpur | 1% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mandi | 2% |
| Mumbai | 0% |
| Muzzafarnagar | 1% |
| Nagpur | 1% |
| Raigarh | 3% |
| Raipur | 2% |
| Rourkela | 2% |
| Rudrapur | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
Pig Iron
| Location | Change |
| Agra | 2% |
| Jallandhar | 2% |
| Kolkata | 2% |
| Raipur | 2% |
Change is on Mar 25th as compared to 18th Mar 2011
Sponge iron
| Location | Change |
| Bellary | 5% |
| Kolkata | 0% |
| Raigarh | 2% |
| Raipur | 1% |
| Rourkela | -1% |
Change is on Mar 25th as compared to 18th Mar 2011
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 3% |
| Delhi | 2% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mandi | 1% |
| Mumbai | 0% |
| Muzzafarnagar | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 2% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | -3% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 3% |
| Delhi | -1% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 3% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 3% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 3% |
| Delhi | -1% |
| Indore | -3% |
| Kolkata | 0% |
| Ludhiana | -1% |
| Mumbai | -1% |
Change is on Mar 25th as compared to 18th Mar 2011
Patra
| Location | Change |
| Delhi | -2% |
| Ludhiana | 0% |
| Mandi | 1% |
Change is on Mar 25th as compared to 18th Mar 2011
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 3% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | -1% |
| Rudrapur | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 3% |
| Delhi | -1% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 1% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | -1% |
| Pune | -1% |
| Rudrapur | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
GP
100Gms
0.4
| Location | Change |
| Mumbai | -2% |
| Chennai | 1% |
| Kolkata | 0% |
| Delhi | -2% |
| Ludhiana | -1% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 1% |
| Delhi | -2% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Ludhiana | -2% |
| Rudrapur | 0% |
Change is on Mar 25th as compared to 18th Mar 2011
www.steelprices-india.com is a comprehensive portal that provides domestic pricing information for benchmark steel products in each category at select location in India on a regular basis 5 days a week and international price levels on a weekly basis.
As steel in each category comes in hundreds of grades shapes and sizes, we have taken benchmark products in each category at select locations to cover the entire basket of garden variety of steel products including input material for steel making and processing.
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
5. FOB Levels - China, Ukraine, Russia and Turkey
Methodology and access
1. Benchmark products in each category with fixed commonly used sizes and grades
2. Base prices or effective, as per market trends
3. Average transaction levels which have settled well, based on continuous interactions with domestic mills, overseas suppliers,Importers stockiest & service centers and buyers
4. On fixed market oriented payment terms
5. Daily updates
6. Data available since July 2008
5. Access through web site
Price basis
Without ED and VAT for all products except for rebar and sections
Other features
The prices are displayed on weekly and monthly basis. They also have search facilities to access old data from the archives. Graphical representation of trends and comparison of price movement 2 or more products is also available.
In addition, you can monitor currency exchange rates, metal prices, BDI for the day as well as access their archives for past data.
Other features include converters for weight, length etc, glossary and advanced search functions. The benchmark product price information is supplemented by global pricing news.
Subscription charges for 12 months access
| Currency | Single | 2-5 | 6-12 | 13-25 | 26-40 | 40-60 |
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| USD | 1,650 | 3,300 | 5,500 | 11,000 | 16,500 | 22,000 |
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