Indian steel market for both long and flat products has been undergoing a phase of absolute inactivity and abysmal prices for the past couple of months and the trend continued last week as well.
The long product market in India is reeling under constant price pressure due to a very severe jump achieved by steel makers in March on the sentiments of major hike in April on cost pressures due to increase in quarterly benchmark for iron ore creating a panic among buyers to pre pone their buying creating artificial demand. As the panic subsided the true colors of demand emerged leading to drastic cu tin off takes by users thus creating immense pressure on prices. The trend continued last week albeit at slower pace.
Although market players are hopeful that levels are near bottom as costs continued to remain high, the fall in global levels of billets FOB Black Sea to USD 410 per tonne to USD 440 per tonne last week has put a big question mark on immediate rebound. In addition, market sentiment remains subdued with buyers including stockiest & retailers buying what they need, we need some very serious speculative moves to induce buying sentiments
On the other hand, the happenings in flat products are in sync with the global price trends. Indian mills, unlike their counterparts in other regions of the globe have been reluctant to reconcile with the realities. Their blindfolded approach has led to self decimation with imports making deep inroads to even places in North India playing havoc with the market sentiments.
In fact the flat producers are facing double whammy. Their inventories are climbing with every passing day as importers are liquidating the landed cargos at much cheaper prices creating the most undesirable situation for a salesman as the buyers know that they can buy at the price they name at the time when they really need.
On the other hand a big danger is lurking as the current HRC prices of some of the Ukrainian mills at USD 515 per tonne FOB, considering an ocean freight component of USD 60 per tonne results in CNF prices of about USD 575 per tonne on CNF India basis, which translated to about INR 29,000 per tonne base on like to like basis. This dynamics may propel some the large importers to book huge imports again thus diminishing chances of revival even after 2 months.
Therefore the Indian Long Product Price Index ILPPI continued declining by 37 points last week whereas Indian Flat Products Index IFPPI dropped by 65 points. The overall price index INDSPI declined by 50 points.
| Class | 18-Jun | 25-Jun | Change | % |
| ILPPI | 6797 | 6760 | -37 | -0.5% |
| IFPPI | 7908 | 7843 | -65 | -0.8% |
| INDSPI | 7326 | 7276 | -50 | -0.7% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 18-Jun | 25-Jun | Change | % |
| PI - TMT | 6641 | 6582 | -59 | -0.9% |
| PI - WRC | 7180 | 7152 | -28 | -0.4% |
| PI - Angle | 6467 | 6465 | -2 | 0.0% |
| PI - Channel | 6553 | 6544 | -9 | -0.1% |
| PI - Joist | 6081 | 6057 | -23 | -0.4% |
PI - Product Index
Flat products
| Category | 18-Jun | 25-Jun | Change | % |
| PI - Narrow Plates | 7414 | 7338 | -76 | -1.0% |
| PI - Wide Plates | 7887 | 7811 | -76 | -1.0% |
| PI - Hot Rolled | 7651 | 7596 | -55 | -0.7% |
| PI - Cold Rolled | 8741 | 8655 | -85 | -1.0% |
| PI - Galvanized | 8390 | 8332 | -58 | -0.7% |
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 | -6% |
| Hyderabad | 3% |
| Kandla | 2% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Rudrapur | 0% |
Change is on June 25th 2010 as compared to June 18th 2010
Alang
| Product | Size | Change | Deviation |
| Plate cuttings | 1" | 0% | 0 |
| Ships | Mixed | 1% | 200 |
Change is on June 25th 2010 as compared to June 18th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 0% |
| Bhiwari | 2% |
| Durgapur | 1% |
| Ghaziabad | 2% |
| Hyderabad | 2% |
| Jaipur | 2% |
| Jamshedpur | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 1% |
| Muzzafarnagar | 1% |
| Nagpur | 0% |
| Raigarh | 0% |
| Raipur | 0% |
| Rourkela | 1% |
| Rudrapur | 0% |
Change is on June 25th 2010 as compared to June 18th 2010
Pig Iron
| Location | Change |
| Agra | -1% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on June 25th 2010 as compared to June 18th 2010
Sponge iron
| Location | Change |
| Bellary | 1% |
| Kolkata | 1% |
| Raigarh | 2% |
| Raipur | 2% |
| Rourkela | 2% |
Change is on June 25th 2010 as compared to June 18th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | -5% |
| Delhi | 0% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | -2% |
| Mumbai | 1% |
| Muzzafarnagar | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on June 25th 2010 as compared to June 18th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | -1% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on June 25th 2010 as compared to June 18th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 1% |
| Chennai | -1% |
| Delhi | 0% |
| Indore | -2% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on June 25th 2010 as compared to June 18th 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | -1% |
| Delhi | 0% |
| Indore | -2% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on June 25th 2010 as compared to June 18th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | -1% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | -2% |
| Mumbai | 1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on June 25th 2010 as compared to June 18th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | -2% |
| Chennai | -1% |
| Delhi | -1% |
| Indore | 0% |
| Kolkata | -1% |
| Ludhiana | 0% |
| Mumbai | 0% |
Change is on June 25th 2010 as compared to June 18th 2010
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | 1% |
| Mandi | -2% |
Change is on June 25th 2010 as compared to June 18th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | -1% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on June 25th 2010 as compared to June 18th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | -2% |
| Chennai | -1% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on June 25th 2010 as compared to June 18th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | -1% |
| Chennai | -2% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 0% |
Change is on June 25th 2010 as compared to June 18th 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | -1% |
| Chennai | -2% |
| Kolkata | 0% |
| Delhi | 0% |
| Ludhiana | -2% |
| Kanpur | -1% |
| Rudrapur | -1% |
| Bangalore | -3% |
Change is on June 25th 2010 as compared to June 18th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | -4% |
| Chennai | -2% |
| Delhi | 0% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | -1% |
| Ludhiana | -2% |
| Rudrapur | -1% |
Change is on June 25th 2010 as compared to June 18th 2010
4. Indian Export Levels
| Item | Grade | Size | Delivery | Change |
| HDG | 100Gms | 0.4 | FOB Mumbai | -30 |
| HDG | 100Gms | 0.58 | FOB Mumbai | -40 |
| HDG | 275Gms | 0.75 | FOB Mumbai | -40 |
| PLTS | Structural | 12-40x2.5 | FOB Vizag | 0 |
| PPGI | Standard RAL | 0.4 | FOB Mumbai | 0 |
Change is on June 25th 2010 as compared to June 18th 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.
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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In INR +10.03% Service Tax
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In USD
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