Long product market continued climbing at a brisk pace last week as the year end fever seems to have taken epidemic proportion.
The sparkling performance is reminiscent of fickleness which might be another flash in the pan. Devoid of a major cost push factor the only reasons which seem tenable for this blitzkrieg are
1. Beeline by the projects to procure material before the closure of financial year to avoid lapse of funds and maximize billing.
2. Scarcity of pencil ingot owing to power shortage
3. Hike in coke prices by the domestic suppliers by nearly 12% to 30% leading to hike in sponge iron prices
Taking cue from this bloodbath the secondary manufacturers have revised their prices midway capitalizing. On the other hand the primary manufacturers who had all through been project focused causing acute shortage for retail the market was sitting on the keg to flare at the slightest ignition.
Caution is strongly advised as the current mercurial rise in price is typical of long product market soaked in speculation without demand fundamentals. The pricing decision of the manufacturers for April is likely to be resurgent in a bid to ride piggy bank on this crest. However the crest is expected to level soon.
On the other hand, flat products continued their downward journey last week.
| Class | 25-Mar | 01-Apr | Change | % |
| ILPPI | 7968 | 8104 | 136 | 1.7% |
| IFPPI | 8944 | 8874 | -70 | -0.8% |
| INDSPI | 8433 | 8471 | 38 | 0.5% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 25-Mar | 01-Apr | Change | % |
| PI - TMT | 7860 | 8070 | 209 | 2.7% |
| PI - WRC | 8269 | 8364 | 95 | 1.2% |
| PI - Angle | 7721 | 7798 | 77 | 1.0% |
| PI - Channel | 7776 | 7860 | 83 | 1.1% |
| PI - Joist | 7309 | 7376 | 67 | 0.9% |
PI - Product Index
Flat products
| Category | 25-Mar | 01-Apr | Change | % |
| PI - Narrow Plates | 8243 | 8186 | -57 | -0.7% |
| PI - Wide Plates | 8637 | 8600 | -37 | -0.4% |
| PI - Hot Rolled | 8701 | 8634 | -67 | -0.8% |
| PI - Cold Rolled | 9955 | 9897 | -57 | -0.6% |
| PI - Galvanized | 9571 | 9401 | -169 | -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 | 0% |
| Hyderabad | 7% |
| Kandla | -1% |
| Kanpur | 4% |
| Kolkata | 0% |
| Mandi | 2% |
| Mumbai | 1% |
| Rudrapur | 3% |
Change is on April 1st as compared to 25th Mar 2011
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 1% |
| Ships | Mixed | 1% |
Change is on April 1st as compared to 25th Mar 2011
Pencil ingot
| Location | Change |
| Ahmedabad | 3% |
| Alang | 3% |
| Bhiwari | 1% |
| Chennai | 1% |
| Durgapur | 0% |
| Ghaziabad | 1% |
| Hyderabad | 3% |
| Jaipur | 1% |
| Jamshedpur | 2% |
| Kanpur | 5% |
| Kolkata | 1% |
| Mandi | 2% |
| Mumbai | 1% |
| Muzzafarnagar | 2% |
| Nagpur | 2% |
| Raigarh | 1% |
| Raipur | 2% |
| Rourkela | 4% |
| Rudrapur | 6% |
Change is on April 1st as compared to 25th Mar 2011
Pig Iron
| Location | Change |
| Agra | -2% |
| Jallandhar | -1% |
| Kolkata | -2% |
| Raipur | -2% |
Change is on April 1st as compared to 25th Mar 2011
Sponge iron
| Location | Change |
| Bellary | 3% |
| Kolkata | -2% |
| Raigarh | 1% |
| Raipur | 2% |
| Rourkela | 3% |
Change is on April 1st as compared to 25th Mar 2011
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 3% |
| Bangalore | 3% |
| Chennai | 0% |
| Delhi | 4% |
| Indore | 4% |
| Kanpur | 4% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 1% |
| Muzzafarnagar | 4% |
| Raipur | 3% |
| Rudrapur | 4% |
Change is on April 1st as compared to 25th Mar 2011
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 1% |
| Delhi | 1% |
| Kanpur | 3% |
| Kolkata | -2% |
| Raipur | 3% |
| Rudrapur | 2% |
Change is on April 1st as compared to 25th Mar 2011
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 2% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 5% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 1% |
| Raipur | 3% |
| Rudrapur | 2% |
Change is on April 1st as compared to 25th Mar 2011
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 2% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 4% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 1% |
| Raipur | 3% |
| Rudrapur | 2% |
Change is on April 1st as compared to 25th Mar 2011
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 2% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 3% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 1% |
| Raipur | 3% |
| Rudrapur | 2% |
Change is on April 1st as compared to 25th Mar 2011
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kolkata | -1% |
| Ludhiana | -1% |
| Mumbai | -1% |
Change is on April 1st as compared to 25th Mar 2011
Patra
| Location | Change |
| Delhi | 1% |
| Ludhiana | 0% |
| Mandi | 1% |
Change is on April 1st as compared to 25th Mar 2011
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | -1% |
| Rudrapur | 0% |
Change is on April 1st as compared to 25th Mar 2011
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | -1% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on April 1st as compared to 25th Mar 2011
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | -2% |
| Kanpur | 0% |
| Kolkata | -2% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 0% |
Change is on April 1st as compared to 25th Mar 2011
GP
100Gms
0.4
| Location | Change |
| Mumbai | -2% |
| Chennai | 0% |
| Kolkata | -3% |
| Delhi | -2% |
| Ludhiana | -3% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | -1% |
Change is on April 1st as compared to 25th Mar 2011
GC
100Gms
0.4
| Location | Change |
| Bangalore | -3% |
| Chennai | 0% |
| Delhi | -2% |
| Kanpur | 0% |
| Kolkata | -4% |
| Mumbai | -3% |
| Ludhiana | -2% |
| Rudrapur | 0% |
Change is on April 1st as compared to 25th 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
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