Indian domestic steel market continued to face differing trends for long and flat products last week, while the longs firmed up a bit, flat continued to weaken.

Indian long product market has maintained its customary vacillation over the past couple of months. Although the fickleness has been prominent in pencil ingot prices with fortunes swinging in unison with sentiments in commodity market rather than actual finished product demand. The same has been deceptive for the finished product which despite all the chameleons of rock steady project demand has languished in the retail.

The indolent impasse barely demonstrated any sign of mobility. The ensuing silence has not given any encouragement to the steel manufacturers both in primary and secondary sector to risk any hike in May having opted for a rollover. Although the main producers have recourse to a rock solid project demand the weakling secondary sector is totally dependent on the retail demand which has sunk further. Despite which one of the steel major has hiked its retail prices by INR 500 per tonne for May sales, probably to bring parity with its project prices.

But some market players are weary that with additional capacity coming on stream from steel giants, availability of prime products is likely to surge in coming times putting severe pressure on their rebar prices, resulting in a general depression in prices of secondary sector as well.

On the other hand, flat products continued to face flak with ample availability fro steel majors. It seems that the trend will continue until the prices of imported material go up.

The Indian Long Product Price Index ILPPI continued in upward trends with 30 points last week whereas Indian Flat Products Index IFPPI has gone down by 43 points. The overall price index INDSPI declined by 5 points.

ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index

Long Products

PI - Product Index

Flat products

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

Change is on May 6th as compared to 29th April 2011

Alang

Change is on May 6th as compared to 29th April 2011

Pig Iron

Change is on May 6th as compared to 29th April 2011

Sponge iron

Change is on May 6th as compared to 29th April 2011

2. Long products

Rebar (TMT QST)
Fe 415
12mm

Change is on May 6th as compared to 29th April 2011

WRC
SWR14
5.5/6

Change is on May 6th as compared to 29th April 2011

ANGL
Grade A
65X65X6

Change is on May 6th as compared to 29th April 2011

CHNL
Grade A
75/40

Change is on May 6th as compared to 29th April 2011

JSTI
Grade A
250X125

Change is on May 6th as compared to 29th April 2011

3. Flat products

HRC
Tube
2.5x1250

Change is on May 6th as compared to 29th April 2011

Patra

Change is on May 6th as compared to 29th April 2011

Plates
Grade A
8X1250/1500

Change is on May 6th as compared to 29th April 2011

Plates
GRADE B
12-20X2500

Change is on May 6th as compared to 29th April 2011

CR
DSK
0.63x1000

Change is on May 6th as compared to 29th April 2011

GP
100Gms
0.4

Change is on May 6th as compared to 29th April 2011

GC
100Gms
0.4

Change is on May 6th as compared to 29th 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
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6. Data available since July 2008
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Price basis
Without ED and VAT for all products except for rebar and sections

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