The dynamics of availability and demand has come to forefront in India for both long and flat products as the prices, despite April being peak season for construction activity, continued to move south last week.
The long product prices in India, specifically for rebar, are perched at very high levels, even more than the global peak of 2008 July. Some of the Indian steel giants are retailing rebar at INR 57000 per tonne inclusive of all taxes, as against pre crisis levels of about INR 52,000. But most of the integrated steel mills have prices rebar at INR 49000 plus VAT for sales to project. But most of them have problems of consistent availability of all sizes. As per market information many large project consumers, especially close to coast, are contemplating imports at prevailing levels of USD 710 per tonne to USD 730 per tonne CFR levels for CIS and Turkey.
On the other hand, flat products especially HR, which depends on import parity, is looking at bleak prospects as the global levels are correcting quite fast. It is heard that a Russian giant has started indicating USD 600 per tonne FOB price last week which translates to USD 670 CFR India for small sized cargo. Considering the hiked import duty rate of 7.5%, it works out to about INR 39000 plus taxes at USD to INR rate of 52. But if the USD INR rate goes below 50, Indian steel mills may have to exercise caution.
The Indian Long Product Price Index ILPPI has gone down by 16 points last week whereas Indian Flat Products Index IFPPI has also gone down by 18 points. The overall price index INDSPI declined by 17 points.
| Class | 13-Apr | 20-Apr | Change | % |
| ILPPI | 9790 | 9774 | -16 | -0.2% |
| IFPPI | 9235 | 9217 | -18 | -0.2% |
| INDSPI | 9526 | 9509 | -17 | -0.2% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 13-Apr | 20-Apr | Change | % |
| PI - TMT | 10305 | 10268 | -37 | -0.4% |
| PI - WRC | 9756 | 9756 | 0 | 0.0% |
| PI - Angle | 9055 | 9050 | -5 | -0.1% |
| PI - Channel | 9159 | 9155 | -4 | 0.0% |
| PI - Joist | 8420 | 8408 | -12 | -0.1% |
PI - Product Index
Flat products
| Category | 13-Apr | 20-Apr | Change | % |
| PI - Narrow Plates | 8880 | 8865 | -15 | -0.2% |
| PI - Wide Plates | 9182 | 9168 | -14 | -0.2% |
| PI - Hot Rolled | 9045 | 9027 | -18 | -0.2% |
| PI - Cold Rolled | 9857 | 9837 | -20 | -0.2% |
| PI - Galvanized | 9610 | 9586 | -24 | -0.2% |
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
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1. Input material
Melting scrap
80:20
HMS
| Location | Change |
| Bangalore | -2% |
| Chennai | 0% |
| Hyderabad | 0% |
| Kandla | 2% |
| Kanpur | -1% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 1% |
| Mumbai | 0% |
| Rudrapur | -1% |
Change is on Apr 20th as compared to 13th April 2012
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 0.0% |
| Ships | Mixed | 0.0% |
Change is on Apr 20th as compared to 13th April 2012
Pencil ingot
| Location | Change |
| Ahmedabad | 1% |
| Alang | 0% |
| Bhiwari | 1% |
| Chennai | 0% |
| Durgapur | 0% |
| Ghaziabad | 0% |
| Hyderabad | 0% |
| Jaipur | 1% |
| Jamshedpur | 0% |
| Kanpur | -1% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 1% |
| Mumbai | 0% |
| Muzaffarnagar | 0% |
| Nagpur | 0% |
| Raigarh | 0% |
| Raipur | -1% |
| Rourkela | 0% |
| Rudrapur | -1% |
Change is on Apr 20th as compared to 13th April 2012
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Raipur | 0% |
Change is on Apr 20th as compared to 13th April 2012
Sponge iron
| Location | Change |
| Bellary | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Raigarh | 0% |
| Raipur | 0% |
| Rourkela | 0% |
Change is on Apr 20th as compared to 13th April 2012
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | -2% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | -1% |
| Mumbai | 0% |
| Muzaffarnagar | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Apr 20th as compared to 13th April 2012
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Apr 20th as compared to 13th April 2012
ANGL
Grade A
65x65x6
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Apr 20th as compared to 13th April 2012
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Apr 20th as compared to 13th April 2012
JSTI
Grade A
250x125
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Apr 20th as compared to 13th April 2012
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kolkata | -1% |
| Ludhiana | 1% |
| Mumbai | 0% |
Change is on Apr 20th as compared to 13th April 2012
Patra
| Location | Change |
| Delhi | -1% |
| Ludhiana | 0% |
| Mandi | 0% |
Change is on Apr 20th as compared to 13th April 2012
Plates
Grade A
8x1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on Apr 20th as compared to 13th April 2012
Plates
GRADE B
12-20x2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Apr 20th as compared to 13th April 2012
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Ludhiana | 0% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 0% |
Change is on Apr 20th as compared to 13th April 2012
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | -1% |
| Delhi | 0% |
| Ludhiana | 0% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Apr 20th as compared to 13th April 2012
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 0% |
| Ludhiana | 0% |
| Rudrapur | 0% |
Change is on Apr 20th as compared to 13th April 2012
If volatility in steel prices is affecting your business, keep tab on market realities and trends by subscribing to www.steelprices-india.com, which 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.
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
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Sourced - Steel Price India
(www.steelguru.com)
