Ever since China has banned import of Iron ore below Fe 60% grapevine has been succulent in anticipation about its possible fallout. Since India is not a major player in higher grade Iron ore export the manufacturers has been left with the Hobson’s choice of diverting volumes to domestic consumers.
Chinese trail blazer had set the ore market ablaze for the over the past 2 months. This unilateral diversion of volumes had led to acute shortage in domestic market. The malady was compounded by the iron ore mining mess. The ensuing cost escalation proved to be a savior for the long product manufacturers as the price catapulted owing to cost push rather than demand pull.
Ever since the Chinese government has changed tact the availability of iron ore has improved in the domestic markets bringing down the sponge iron prices. This is having a cascading effect on the ingot and TMT if not in figures but in spirit in the short run.
In addition in the aftermath of heavy buying in the closing months of 2009-10 there is distinct lull in buying. Most of the traders and stockiest are fully replenished and releasing lower priced material in the market gravitating the market levels.
However this phenomenon is likely to be short lived as the shortage of power in peak summer would assist bottoming out soon but the spoiler could be collapse of international scrap prices.
The Indian Long Product Price Index ILPPI dropped by whooping 246 points whereas Indian Flat Products Index IFPPI also declined by mare 5 points. The overall price index INDSPI decreased by 132 points.
| Class | 16-Apr | 23-Apr | Change | % |
| ILPPI | 7755 | 7509 | -246 | -3.2% |
| IFPPI | 8596 | 8591 | -5 | -0.1% |
| INDSPI | 8156 | 8024 | -132 | -1.6% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 16-Apr | 23-Apr | Change | % |
| PI - TMT | 7593 | 7246 | -347 | -4.6% |
| PI - WRC | 8212 | 8032 | -180 | -2.2% |
| PI - Angle | 7308 | 7130 | -177 | -2.4% |
| PI - Channel | 7430 | 7233 | -197 | -2.6% |
| PI - Joist | 6843 | 6684 | -158 | -2.3% |
PI - Product Index
Flat products
| Category | 16-Apr | 23-Apr | Change | % |
| PI - Narrow Plates | 8182 | 8152 | -30 | -0.4% |
| PI - Wide Plates | 8493 | 8481 | -12 | -0.1% |
| PI - Hot Rolled | 8375 | 8336 | -39 | -0.5% |
| PI - Cold Rolled | 9245 | 9367 | 122 | 1.3% |
| PI - Galvanized | 9246 | 9218 | -28 | -0.3% |
PI - Product Index
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1. Input material
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | -5% |
| Kandla | 0% |
| Kanpur | -2% |
| Kolkata | -5% |
| Mandi | -1% |
| Mumbai | -1% |
Change is on April 23rd 2010 as compared to April 16th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -2% |
| Ships | Mixed | -2% |
Change is on April 23rd 2010 as compared to April 16th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | -2% |
| Bhiwari | -3% |
| Durgapur | -4% |
| Ghaziabad | -1% |
| Hyderabad | -6% |
| Jaipur | -1% |
| Jamshedpur | -1% |
| Kanpur | -2% |
| Kolkata | -7% |
| Mandi | -1% |
| Mumbai | -6% |
| Muzzafarnagar | -1% |
| Nagpur | -5% |
| Raigarh | -5% |
| Raipur | -6% |
| Rourkela | 0% |
| Rudrapur | -3% |
Change is on April 23rd 2010 as compared to April 16th 2010
Pig Iron
| Location | Change |
| Agra | -2% |
| Jallandhar | -1% |
| Kolkata | -1% |
| Raipur | -2% |
Change is on April 23rd 2010 as compared to April 16th 2010
Sponge iron
| Location | Change |
| Bellary | 0% |
| Kolkata | -9% |
| Raigarh | -4% |
| Raipur | -10% |
| Rourkela | -9% |
Change is on April 23rd 2010 as compared to April 16th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -4% |
| Bangalore | -8% |
| Chennai | -8% |
| Delhi | -1% |
| Indore | -3% |
| Kanpur | -2% |
| Kolkata | -3% |
| Mandi | -5% |
| Mumbai | -5% |
| Raipur | -7% |
Change is on April 23rd 2010 as compared to April 16th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | -1% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | -3% |
| Raipur | -5% |
Change is on April 23rd 2010 as compared to April 16th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | -6% |
| Chennai | 3% |
| Delhi | -1% |
| Indore | -3% |
| Kanpur | -2% |
| Kolkata | -3% |
| Mandi | -1% |
| Mumbai | -5% |
| Raipur | -5% |
Change is on April 23rd 2010 as compared to April 16th 2010
CNHL
Grade A
75/40
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | -6% |
| Chennai | 2% |
| Delhi | -1% |
| Indore | -3% |
| Kanpur | -2% |
| Kolkata | -4% |
| Mandi | -1% |
| Mumbai | -5% |
| Raipur | -6% |
Change is on April 23rd 2010 as compared to April 16th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | -3% |
| Chennai | 1% |
| Delhi | -1% |
| Indore | -2% |
| Kanpur | -1% |
| Kolkata | -4% |
| Mandi | -1% |
| Mumbai | -5% |
| Raipur | -5% |
Change is on April 23rd 2010 as compared to April 16th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | -3% |
| Chennai | 1% |
| Delhi | -1% |
| Indore | 1% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mumbai | 0% |
Change is on April 23rd 2010 as compared to April 16th 2010
Patra
| Location | Change |
| Delhi | -1% |
| Ludhiana | -3% |
| Mandi | -1% |
Change is on April 23rd 2010 as compared to April 16th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | -1% |
| Delhi | -1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mumbai | 0% |
Change is on April 23rd 2010 as compared to April 16th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | -1% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | 0% |
Change is on April 23rd 2010 as compared to April 16th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 2% |
| Delhi | -1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Pune | 0% |
Change is on April 23rd 2010 as compared to April 16th 2010
GP
120Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 4% |
| Kolkata | -1% |
| Delhi | 0% |
| Ludhiana | 3% |
| Kanpur | -1% |
| Rudrapur | -1% |
| Bangalore | -1% |
Change is on April 23rd 2010 as compared to April 16th 2010
GC
120Gms
0.4
| Location | Change |
| Bangalore | -2% |
| Chennai | 1% |
| Delhi | 0% |
| Kanpur | -1% |
| Kolkata | -1% |
| Mumbai | 0% |
| Ludhiana | 2% |
| Rudrapur | -1% |
Change is on April 23rd 2010 as compared to April 16th 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 April 23rd 2010 as compared to April 16th 2010
Change is in USD per tonne
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