Steel prices in Indian domestic market continued southward march last week. While the long products have been hit by abysmal demand ad increasing inventories, flat products are facing sever threat from arrival of low priced imported cargos.
Although some steel majors announced price cuts and some said that they would cut it in June beginning, the belated action is a classic case of “too little too late”, when viewed in the backdrop pitiable gap between market rates and producers prices. The predicament had reached a pass when the unimaginable reality of imported material started playing havoc in the hinterlands.
The price cut is a cosmetic attempt to narrow the gap between reality and perception. But the reduction is expected to stretch further in the coming month with steel majors likely to cut it to come back to market realities.
The news of relentless downtrend in international prices is furthering the depressive sentiment in the market. It is learn that HRC is being offered at below USD 600 per tonne levels.
The Indian Long Product Price Index ILPPI continued declining by 94 points whereas Indian Flat Products Index IFPPI dropped by 156 points. The overall price index INDSPI declined by 124 points.
| Class | 21-May | 28-May | Change | % |
| ILPPI | 6983 | 6889 | -94 | -1.3% |
| IFPPI | 8407 | 8251 | -156 | -1.9% |
| INDSPI | 7661 | 7538 | -124 | -1.6% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 21-May | 28-May | Change | % |
| PI - TMT | 6801 | 6681 | -120 | -1.8% |
| PI - WRC | 7433 | 7343 | -90 | -1.2% |
| PI - Angle | 6574 | 6515 | -59 | -0.9% |
| PI - Channel | 6672 | 6620 | -52 | -0.8% |
| PI - Joist | 6173 | 6127 | -47 | -0.8% |
PI - Product Index
Flat products
| Category | 21-May | 28-May | Change | % |
| PI - Narrow Plates | 7942 | 7799 | -143 | -1.8% |
| PI - Wide Plates | 8345 | 8187 | -159 | -1.9% |
| PI - Hot Rolled | 8145 | 7989 | -156 | -1.9% |
| PI - Cold Rolled | 9228 | 9097 | -132 | -1.4% |
| PI - Galvanized | 8957 | 8737 | -220 | -2.5% |
PI - Product Index
These indices have base of 10,000 as on July 1st 2008
To know more about these indices please visit
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1. Input material
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | -3% |
| Kandla | 2% |
| Kanpur | -3% |
| Kolkata | -2% |
| Mandi | -7% |
| Mumbai | -2% |
Change is on May 28th 2010 as compared to May 21st 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -5% |
| Ships | Mixed | -3% |
Change is on May 28th 2010 as compared to May 21st 2010
Pencil ingot
| Location | Change |
| Ahmedabad | -2% |
| Bhiwari | -5% |
| Durgapur | -3% |
| Ghaziabad | -5% |
| Hyderabad | -2% |
| Jaipur | -6% |
| Jamshedpur | -2% |
| Kanpur | -3% |
| Kolkata | -2% |
| Mandi | -5% |
| Mumbai | -5% |
| Muzzafarnagar | -5% |
| Nagpur | -3% |
| Raigarh | -3% |
| Raipur | -3% |
| Rourkela | -2% |
| Rudrapur | -1% |
Change is on May 28th 2010 as compared to May 21st 2010
Pig Iron
| Location | Change |
| Agra | 1% |
| Jallandhar | 1% |
| Kolkata | 1% |
| Raipur | 0% |
Change is on May 28th 2010 as compared to May 21st 2010
Sponge iron
| Location | Change |
| Bellary | -4% |
| Kolkata | 3% |
| Raigarh | -3% |
| Raipur | 1% |
| Rourkela | 6% |
Change is on May 28th 2010 as compared to May 21st 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | -1% |
| Chennai | -2% |
| Delhi | -1% |
| Indore | -3% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | -3% |
| Mumbai | -4% |
| Raipur | -2% |
Change is on May 28th 2010 as compared to May 21st 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | -1% |
| Delhi | -1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Raipur | -2% |
Change is on May 28th 2010 as compared to May 21st 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | -2% |
| Delhi | -2% |
| Indore | -1% |
| Kanpur | -1% |
| Kolkata | 3% |
| Mandi | -3% |
| Mumbai | -4% |
| Raipur | -2% |
Change is on May 28th 2010 as compared to May 21st 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | -1% |
| Kanpur | -1% |
| Kolkata | 2% |
| Mandi | -3% |
| Mumbai | -4% |
| Raipur | -2% |
Change is on May 28th 2010 as compared to May 21st 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | -2% |
| Kanpur | -1% |
| Kolkata | 2% |
| Mandi | -3% |
| Mumbai | -4% |
| Raipur | -2% |
Change is on May 28th 2010 as compared to May 21st 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | -4% |
| Bangalore | 0% |
| Chennai | -3% |
| Delhi | -4% |
| Indore | -4% |
| Kolkata | -2% |
| Ludhiana | -3% |
| Mumbai | 0% |
Change is on May 28th 2010 as compared to May 21st 2010
Patra
| Location | Change |
| Delhi | -3% |
| Ludhiana | -1% |
| Mandi | -3% |
Change is on May 28th 2010 as compared to May 21st 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | -4% |
| Delhi | -3% |
| Kanpur | 0% |
| Kolkata | -4% |
| Mumbai | 0% |
Change is on May 28th 2010 as compared to May 21st 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | -4% |
| Delhi | -3% |
| Indore | -2% |
| Kanpur | 0% |
| Kolkata | -3% |
| Mumbai | 0% |
| Raipur | -1% |
Change is on May 28th 2010 as compared to May 21st 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | -1% |
| Delhi | -6% |
| Kanpur | 0% |
| Kolkata | -2% |
| Mumbai | 0% |
| Pune | 0% |
Change is on May 28th 2010 as compared to May 21st 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | -3% |
| Chennai | -1% |
| Kolkata | -3% |
| Delhi | -4% |
| Ludhiana | -4% |
| Kanpur | -1% |
| Rudrapur | 0% |
| Bangalore | -1% |
Change is on May 28th 2010 as compared to May 21st 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | -2% |
| Chennai | -2% |
| Delhi | -4% |
| Kanpur | -1% |
| Kolkata | -2% |
| Mumbai | -2% |
| Ludhiana | -3% |
| Rudrapur | 0% |
Change is on May 28th 2010 as compared to May 21st 2010
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
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
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.
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