The price shedding in June by most of the players has failed to stir the market. Although right from the beginning it was supposed to be mere cover up steel majors to align with the market, some expectation of buying revival inherent.
Most of the steel majors have reduced prices of TMT bars by INR 3500 per tonne to INR 4000 per tonne in June restore the normal gap of INR 4000 per tonne to INR 4500 per tonne between their and re rollers prices. However the hidden agenda was to maintain the project buying at the normal level which had increasingly shown signs slipping in need based buying recently. The demand from this segment projects had been the only silver lining the recessionary pandemic.
It seems after unhindered bleeding of almost 2 months some there is some glimmer of bottoming out and token revival can be observed in furlong quarters towards the end of last week.
The Indian Long Product Price Index ILPPI continue declining by 16 points whereas Indian Flat Products Index IFPPI dropped by 88 points. The overall price index INDSPI declined by 50 points.
| Class | 11-Jun | 18-Jun | Change | % |
| ILPPI | 6812 | 6797 | -16 | -0.2% |
| IFPPI | 7996 | 7908 | -88 | -1.1% |
| INDSPI | 7376 | 7326 | -50 | -0.7% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 11-Jun | 18-Jun | Change | % |
| PI - TMT | 6633 | 6641 | 8 | 0.1% |
| PI - WRC | 7223 | 7180 | -43 | -0.6% |
| PI - Angle | 6464 | 6467 | 3 | 0.0% |
| PI - Channel | 6564 | 6553 | -10 | -0.2% |
| PI - Joist | 6101 | 6081 | -21 | -0.3% |
PI - Product Index
Flat products
| Category | 11-Jun | 18-Jun | Change | % |
| PI - Narrow Plates | 7486 | 7414 | -72 | -1.0% |
| PI - Wide Plates | 7945 | 7887 | -58 | -0.7% |
| PI - Hot Rolled | 7732 | 7651 | -81 | -1.1% |
| PI - Cold Rolled | 8846 | 8741 | -105 | -1.2% |
| PI - Galvanized | 8536 | 8390 | -146 | -1.7% |
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
| Location | Change |
| Chennai | 3% |
| Hyderabad | 0% |
| Kandla | 2% |
| Kanpur | 3% |
| Kolkata | -2% |
| Mandi | -1% |
| Mumbai | -2% |
| Rudrapur | 2% |
Change is on June 18th 2010 as compared to June 11th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 0% |
| Ships | Mixed | -1% |
Change is on June 18th 2010 as compared to June 11th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | -2% |
| Bhiwari | -2% |
| Durgapur | -2% |
| Ghaziabad | -2% |
| Hyderabad | 0% |
| Jaipur | -1% |
| Jamshedpur | 0% |
| Kanpur | 3% |
| Kolkata | -1% |
| Mandi | -1% |
| Mumbai | -2% |
| Muzzafarnagar | -1% |
| Nagpur | -2% |
| Raigarh | -1% |
| Raipur | -2% |
| Rourkela | -1% |
| Rudrapur | 2% |
Change is on June 18th 2010 as compared to June 11th 2010
Pig Iron
| Location | Change |
| Agra | 1% |
| Jallandhar | 0% |
| Kolkata | 1% |
| Raipur | 1% |
Change is on June 18th 2010 as compared to June 11th 2010
Sponge iron
| Location | Change |
| Bellary | 0% |
| Kolkata | -2% |
| Raigarh | -2% |
| Raipur | -2% |
| Rourkela | -2% |
Change is on June 18th 2010 as compared to June 11th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | 2% |
| Chennai | 5% |
| Delhi | -3% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -2% |
| Muzaffarnagar | 0% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on June 18th 2010 as compared to June 11th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Raipur | -1% |
| Rudrapur | -1% |
Change is on June 18th 2010 as compared to June 11th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 2% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -2% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -2% |
| Raipur | -1% |
| Rudrapur | -1% |
Change is on June 18th 2010 as compared to June 11th 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -2% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -2% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on June 18th 2010 as compared to June 11th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -2% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on June 18th 2010 as compared to June 11th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -3% |
| Indore | 0% |
| Kolkata | 0% |
| Ludhiana | -4% |
| Mumbai | -1% |
Change is on June 18th 2010 as compared to June 11th 2010
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | 0% |
| Mandi | 0% |
Change is on June 18th 2010 as compared to June 11th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | -3% |
| Kanpur | -4% |
| Kolkata | 0% |
| Mumbai | -1% |
| Rudrapur | -3% |
Change is on June 18th 2010 as compared to June 11th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -4% |
| Indore | 0% |
| Kanpur | -2% |
| Kolkata | 0% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | -2% |
Change is on June 18th 2010 as compared to June 11th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | -4% |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | -1% |
| Pune | -1% |
| Rudrapur | -2% |
Change is on June 18th 2010 as compared to June 11th 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | -3% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | -2% |
| Ludhiana | -3% |
| Kanpur | -3% |
| Rudrapur | -4% |
| Bangalore | 0% |
Change is on June 18th 2010 as compared to June 11th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -2% |
| Kanpur | -3% |
| Kolkata | 0% |
| Mumbai | -3% |
| Ludhiana | -2% |
| Rudrapur | -4% |
Change is on June 18th 2010 as compared to June 11th 2010
4. Indian Export Levels
HDG and PPGI manufacturers from India have been facing the music for over a month now. The triggering point was emergence of European crisis although the seeds had been sown earlier with relentless meltdown of domestic levels in China since April. Historically European market has shown propensity for Indian material owing to quality concerns and accountability vis à vis Chinese mills even though dearer.
Market prices of coated products have taken an equally violent plunge by USD 150 per tonne to USD 200 per tonne CFR. With Chinese mills gasping for breath have become aggressive in exports plundering every single opportunity of outlet. Indian mills have been accumulating much of flak as Chinese mills are offering PPGI at abysmal levels of USD 970 per tonne CFR and HDG at USD 850 per tonne to USD 870 per tonne CFR whereas they are still stuck at USD 60 per tonne to USD 70 per tonne more.
The canvass is besmirched with dark patches which is difficult to erase and in any case will leave stains which will take long to go. The only reprieve might be pre Ramadan buying followed by pre holiday buying in Europe. With most of mills in India finding it onerous to fill their order books price meltdown by another USD 50 per tonne to USD 60 per tonne is inevitable before there can be any hopes of bottoming out.
| Item | Grade | Size | Delivery | Change |
| HDG | 100Gms | 0.4 | FOB Mumbai | -20 |
| HDG | 100Gms | 0.58 | FOB Mumbai | -30 |
| HDG | 275Gms | 0.75 | FOB Mumbai | -20 |
| PLTS | Structural | 12-40x2.5 | FOB Vizag | -40 |
| PPGI | Standard RAL | 0.4 | FOB Mumbai | -20 |
Change is on June 18th 2010 as compared to June 11th 2010
Change is in USD per tonne
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.
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| 60000 | 120000 | 200000 | 400000 | 600000 | 800000 |
In INR +10.03% Service Tax
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In USD
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