The never ending sob story of flat steel product market in India has belied all expectations of revival during the last 4 months. Regardless of all accentuating factors the uniformity of pessimism has intensified the gloom with each passing week.
Undeniably there has been a decline in consumption during this period as an outcome of persistent inflation control measures. The lending rate has been hiked 200 basis points in the last 13 months severely denting the purchasing power. The outcome of economic repression is evident in the figures of the first quarter with decline in economic indicators viz GDP and Industrial Production. The GDP in the January to March quarter slumped to 7.8% from 9.4% in January to March 2010 .Likewise the IIP dipped to 3 months low of 6.3% in May diminishing hope of resurgent demand.
Automobile sector being a major consumer of flat products has registered a decline in growth owing to constricted buying as the interest rates have gone up.
Since the incremental consumption has been declining in India on a month on month basis but despite revival the incremental capacity will outstrip the growth in consumption.
The Indian Long Product Price Index ILPPI surged by 29 points last week whereas Indian Flat Products Index IFPPI has gone down by 18 points. The overall price index INDSPI inclined by 7 points.
| Class | 08-Jul | 15-Jul | Change | % |
| ILPPI | 8239 | 8268 | 29 | 0.4% |
| IFPPI | 8604 | 8586 | -18 | -0.2% |
| INDSPI | 8413 | 8420 | 7 | 0.1% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 08-Jul | 15-Jul | Change | % |
| PI - TMT | 8243 | 8322 | 79 | 1.0% |
| PI - WRC | 8536 | 8503 | -33 | -0.4% |
| PI - Angle | 7820 | 7915 | 95 | 1.2% |
| PI - Channel | 7901 | 7941 | 40 | 0.5% |
| PI - Joist | 7282 | 7308 | 26 | 0.4% |
PI - Product Index
Flat products
| Category | 08-Jul | 15-Jul | Change | % |
| PI - Narrow Plates | 8172 | 8178 | 6 | 0.1% |
| PI - Wide Plates | 8565 | 8563 | -2 | 0.0% |
| PI - Hot Rolled | 8283 | 8252 | -31 | -0.4% |
| PI - Cold Rolled | 9518 | 9512 | -5 | -0.1% |
| PI - Galvanized | 9253 | 9245 | -9 | -0.1% |
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 |
| Bangalore | 0% |
| Chennai | 0% |
| Hyderabad | 9% |
| Kandla | 3% |
| Kanpur | 0% |
| Kolkata | -2% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | 2% |
| Rudrapur | 0% |
Change is on July 15th as compared to 8th July 2011
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 3% |
| Ships | Mixed | 2% |
Change is on July 15th as compared to 8th July 2011
Pencil ingot
| Location | Change |
| Ahmedabad | 2% |
| Alang | 1% |
| Bhiwari | -1% |
| Chennai | 0% |
| Durgapur | 1% |
| Ghaziabad | -1% |
| Hyderabad | 4% |
| Jaipur | -1% |
| Jamshedpur | 0% |
| Kanpur | 0% |
| Kolkata | 3% |
| Ludhiana | 1% |
| Mandi | 1% |
| Mumbai | 3% |
| Muzzafarnagar | 0% |
| Nagpur | 1% |
| Raigarh | 0% |
| Raipur | 1% |
| Rourkela | 0% |
| Rudrapur | 0% |
Change is on July 15th as compared to 8th July 2011
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Ludhiana | 1% |
| Raipur | 0% |
Change is on July 15th as compared to 8th July 2011
Sponge iron
| Location | Change |
| Bellary | 5% |
| Kolkata | 3% |
| Ludhiana | 3% |
| Raigarh | 0% |
| Raipur | 2% |
| Rourkela | 2% |
Change is on July 15th as compared to 8th July 2011
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 2% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 1% |
| Kanpur | 0% |
| Kolkata | 1% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | 3% |
| Muzzafarnagar | 0% |
| Raipur | -2% |
| Rudrapur | 1% |
Change is on July 15th as compared to 8th July 2011
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Raipur | -3% |
| Rudrapur | 0% |
Change is on July 15th as compared to 8th July 2011
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 2% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 1% |
| Kanpur | 1% |
| Kolkata | 3% |
| Ludhiana | 1% |
| Mandi | 1% |
| Mumbai | 3% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on July 15th as compared to 8th July 2011
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | 1% |
| Kanpur | 0% |
| Kolkata | 1% |
| Ludhiana | 1% |
| Mandi | 1% |
| Mumbai | 3% |
| Raipur | -2% |
| Rudrapur | 0% |
Change is on July 15th as compared to 8th July 2011
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 2% |
| Ludhiana | 0% |
| Mandi | 1% |
| Mumbai | 3% |
| Raipur | -2% |
| Rudrapur | 0% |
Change is on July 15th as compared to 8th July 2011
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kolkata | -1% |
| Ludhiana | 0% |
| Mumbai | 0% |
Change is on July 15th as compared to 8th July 2011
Patra
| Location | Change |
| Delhi | 1% |
| Ludhiana | 1% |
| Mandi | 1% |
Change is on July 15th as compared to 8th July 2011
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on July 15th as compared to 8th July 2011
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -2% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | 0% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on July 15th as compared to 8th July 2011
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 1% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 0% |
Change is on July 15th as compared to 8th July 2011
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | 1% |
| Delhi | -1% |
| Ludhiana | 0% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on July 15th as compared to 8th July 2011
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | 0% |
| Ludhiana | 2% |
| Rudrapur | 0% |
Change is on July 15th as compared to 8th July 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.
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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