Indian steel market has witnessed carnage for the past 3 months (Since April beginning) the erosion of domestic market by the imported material for flat products on one hand abysmal demand on the other, especially for longs. In other words, Indian mills, for both long and flat products, have been groping in the dark for that stray of light to no avail.

For long products, a ray of hope was seen in the first 3 days of last week when the Indian Long Product Price Index ILPPI recovered from the recent low of 6753 to 6832 or 1.12%. But the last 2 days of the week the light disappeared as ILPPI started sliding back to reach 6818 on Friday. Thus it seems that although long products are quite close to bottom, sluggish demand is suppressing real revival.

On the other hand, for flat products, the removal of export rebate in China on 22nd June certainly gave some moments of reprieve in this parched market. Aspirations soared during last week as mills expected scuttle in imports owing to expected appreciation in Chinese offers by USD 30 per tonne to USD 40 per tonne taking the sheen away from imports.

But the slide Indian Flat Products Index IFPPI reflects that domestic flat product market has not shown any positivism in the aftermath of this path breaking happenings. It is largely believed that a positive momentum will set in the short run culminating in overall revival as the stock deplete. On the contrary prices have maintained a negative tempo during the course of the week signaling it is too little.

The Indian Long Product Price Index ILPPI stepped up by 59 points during last week whereas Indian Flat Products Index IFPPI dropped by 53 points. The overall price index INDSPI declined by 6 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
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
http://steelprices-india.com/smsalert

1. Input material

Melting scrap
80:20
HMS

Change is on July 2nd 2010 as compared to June 25th 2010

Alang

Change is on July 2nd 2010 as compared to June 25th 2010

Pencil ingot

Change is on July 2nd 2010 as compared to June 25th 2010

Pig Iron

Change is on July 2nd 2010 as compared to June 25th 2010

Sponge iron

Change is on July 2nd 2010 as compared to June 25th 2010

2. Long products

Rebar (TMT QST)
Fe 415
12mm

Change is on July 2nd 2010 as compared to June 25th 2010

WRC
SWR14
5.5/6

Change is on July 2nd 2010 as compared to June 25th 2010

ANGL
Grade A
65X65X6

Change is on July 2nd 2010 as compared to June 25th 2010

CHNL
Grade A
75/40

Change is on July 2nd 2010 as compared to June 25th 2010

JSTI
Grade A
250X125

Change is on July 2nd 2010 as compared to June 25th 2010

3. Flat products

HRC
Tube
2.5x1250

Change is on July 2nd 2010 as compared to June 25th 2010

Patra

Change is on July 2nd 2010 as compared to June 25th 2010

Plates
Grade A
8X1250/1500

Change is on July 2nd 2010 as compared to June 25th 2010

Plates
GRADE B
12-20X2500

Change is on July 2nd 2010 as compared to June 25th 2010

CR
DSK
0.63x1000

Change is on July 2nd 2010 as compared to June 25th 2010

GP
100Gms
0.4

Change is on July 2nd 2010 as compared to June 25th 2010

GC
100Gms
0.4

Change is on July 2nd 2010 as compared to June 25th 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
5. FOB Levels - China, Ukraine, Russia and Turkey
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

Other features

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.

Subscription charges for 12 months access

How to subscribe
1. Register at www.steelprices-india.com and pay on line or ask for invoice
2. Send mail to admin@steelprices-india.com.
3. Call at 0091-124-3007891/2/3

(Sourced from www.steelprices-india.com)