Long feast seems to be over in Indian steel market as the pace of price rise has started to ebb down last week.
Towards the closing week of March an flutter in the long product market had raised aspirations of a revival at last in the long product market. The 2% jump in the long product prices during this period although for known transitory reasons like year end buying by projects and power shortage leading to curtailed supply of pencil ingots did arouse aspirations of revival.
However with the closure of FY’10-11 it seems the fortunes of long product market has also been sealed in the short term. There has relentless decline in prices of pencil ingot and TMT bars signifying that the mirage has been revealed. Even the steel manufacturers sensing the flimsy sentiments have opted for roll over with some primary manufactures going for token hike of INR 500 per tonne which might vanish in the monthly rebates soon.
With the market remaining in a dismal state for flat products it was widely expected that the prices would be reduced. In fact some of the manufacturers had done a phased wise discount in March totaling bout INR 3500 per tonne to INR 4000 per tonne in HRC barely leaving any scope for further reduction.
Most of the mills have opted for roll over with the expectation that buying will pick up by the 2nd week of April. Since the buying has been absent over the last couple of months stockiest and traders are running low on inventory. They had been waiting with baited breathe for reduction to commence buying. However with disappointment they will be compelled to open buying. More so with hardly any import taking place there is a limit to which demand can be withheld.
The Indian Long Product Price Index ILPPI surged by 10 points last week whereas Indian Flat Products Index IFPPI has gone down by 51 points. The overall price index INDSPI declined by 19 points.
| Class | 01-Apr | 08-Apr | Change | % |
| ILPPI | 8104 | 8114 | 10 | 0.1% |
| IFPPI | 8874 | 8822 | -51 | -0.6% |
| INDSPI | 8471 | 8451 | -19 | -0.2% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 01-Apr | 08-Apr | Change | % |
| PI - TMT | 8070 | 8072 | 2 | 0.0% |
| PI - WRC | 8364 | 8387 | 23 | 0.3% |
| PI - Angle | 7798 | 7796 | -2 | 0.0% |
| PI - Channel | 7860 | 7861 | 1 | 0.0% |
| PI - Joist | 7376 | 7376 | 0 | 0.0% |
PI - Product Index
Flat products
| Category | 01-Apr | 08-Apr | Change | % |
| PI - Narrow Plates | 8186 | 8167 | -19 | -0.2% |
| PI - Wide Plates | 8600 | 8580 | -21 | -0.2% |
| PI - Hot Rolled | 8634 | 8560 | -73 | -0.8% |
| PI - Cold Rolled | 9897 | 9867 | -31 | -0.3% |
| PI - Galvanized | 9401 | 9362 | -40 | -0.4% |
PI - Product Index
These indices have base of 10,000 as on July 1st 2008
To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html
To download a presentation please paste this link in your browser
http://www.steelprices-india.com/uploads/Steel_Price_Index_Presentation.ppt
You can now get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at
http://steelprices-india.com/smsalert
1. Input material
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | 3% |
| Hyderabad | 0% |
| Kandla | 2% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mandi | -1% |
| Mumbai | -2% |
| Rudrapur | 0% |
Change is on April 8th as compared to 1st April 2011
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -1% |
| Ships | Mixed | 0% |
Change is on April 8th as compared to 1st April 2011
Pencil ingot
| Location | Change |
| Ahmedabad | -1% |
| Alang | -1% |
| Bhiwari | -1% |
| Chennai | 1% |
| Durgapur | -3% |
| Ghaziabad | -2% |
| Hyderabad | 1% |
| Jaipur | -1% |
| Jamshedpur | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | -2% |
| Mumbai | -2% |
| Muzzafarnagar | -1% |
| Nagpur | -2% |
| Raigarh | -1% |
| Raipur | -1% |
| Rourkela | -3% |
| Rudrapur | 0% |
Change is on April 8th as compared to 1st April 2011
Pig Iron
| Location | Change |
| Agra | 2% |
| Jallandhar | 2% |
| Kolkata | 2% |
| Raipur | 2% |
Change is on April 8th as compared to 1st April 2011
Sponge iron
| Location | Change |
| Bellary | -1% |
| Kolkata | -5% |
| Raigarh | -3% |
| Raipur | -1% |
| Rourkela | -1% |
Change is on April 8th as compared to 1st April 2011
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 1% |
| Chennai | 4% |
| Delhi | -3% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mandi | 1% |
| Mumbai | -2% |
| Muzzafarnagar | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on April 8th as compared to 1st April 2011
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 1% |
| Delhi | 1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on April 8th as compared to 1st April 2011
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mandi | 0% |
| Mumbai | -2% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on April 8th as compared to 1st April 2011
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mandi | 0% |
| Mumbai | -2% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on April 8th as compared to 1st April 2011
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mandi | 0% |
| Mumbai | -2% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on April 8th as compared to 1st April 2011
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | -2% |
| Kolkata | -3% |
| Ludhiana | 0% |
| Mumbai | 0% |
Change is on April 8th as compared to 1st April 2011
Patra
| Location | Change |
| Delhi | 3% |
| Ludhiana | 1% |
| Mandi | 0% |
Change is on April 8th as compared to 1st April 2011
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on April 8th as compared to 1st April 2011
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on April 8th as compared to 1st April 2011
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | -1% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 0% |
Change is on April 8th as compared to 1st April 2011
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | -1% |
| Delhi | -1% |
| Ludhiana | -2% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on April 8th as compared to 1st April 2011
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 April 8th as compared to 1st April 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 |
| INR | 66,000 | 132,000 | 220,000 | 440,000 | 660,000 | 880,000 |
| USD | 1,650 | 3,300 | 5,500 | 11,000 | 16,500 | 22,000 |
How to subscribe
1. Register at www.steelprices-india.com and pay on line or ask for invoice
2. Send mail to admin@steelprices-india.com.
3. Call at 0091-124-3007891/2/3
(Sourced from www.steelprices-india.com)
