Steel rebar TMT/QST levels had thudding slide in Delhi and Chennai on July 20th with INR 1040 dip at Chennai and INR 1189 crash at NCR Delhi.
But, is does not seem to be due to “Monsoon Sentiment” Unfortunately, the rain gods are eluding most parts of Indian sub continent and there have hardly been heavy rains, which could have hit the construction segment reducing rebar demand.
It is learnt that the steel rebar demand slow down is resulting from severe liquidity crisis in the builder segment. As per market report, barring few, almost all the builders are delaying in payments as their cash lines seems to have dried up completely.
While the secondary players have reduced prices by INR 2000 per tonne to INR 5000 per tonne in last 30 days, the primary producers are also exhibiting desperation to sell. As per market information, some of the integrated steel mills have officially reduced prices to INR 46500 plus VAT for project sales but are ready to go down further to secure volumes by INR 1000 per tonne to INR 1500 per tonne.
Unfortunately, none of the sellers are able to get sales to match their production capacities even after cutting the prices as the demand has really dwindled.
As no major pick up in demand is likely in coming month, further corrections may take place by primary sector pushing secondary sector to further reduce their prices resulting in price war
The Indian Long Product Price Index ILPPI continued in downward trends with 69 points last week whereas Indian Flat Products Index IFPPI has also gone down by 5 points. The overall price index INDSPI declined by 39 points.
| Class | 13-Jul | 20-Jul | Change | % |
| ILPPI | 9458 | 9389 | -69 | -0.7% |
| IFPPI | 9069 | 9064 | -5 | -0.1% |
| INDSPI | 9273 | 9234 | -39 | -0.4% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 13-Jul | 20-Jul | Change | % |
| PI - TMT | 9731 | 9588 | -143 | -1.5% |
| PI - WRC | 9612 | 9593 | -19 | -0.2% |
| PI - Angle | 8823 | 8810 | -13 | -0.1% |
| PI - Channel | 8910 | 8883 | -27 | -0.3% |
| PI - Joist | 8209 | 8184 | -25 | -0.3% |
PI - Product Index
Flat products
| Category | 13-Jul | 20-Jul | Change | % |
| PI - Narrow Plates | 8689 | 8687 | -2 | 0.0% |
| PI - Wide Plates | 8962 | 8959 | -3 | 0.0% |
| PI - Hot Rolled | 8873 | 8869 | -4 | 0.0% |
| PI - Cold Rolled | 9722 | 9715 | -7 | -0.1% |
| PI - Galvanized | 9507 | 9498 | -9 | -0.1% |
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 |
| Bangalore | 0% |
| Chennai | 0% |
| Hyderabad | 0% |
| Kandla | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | -3% |
| Mandi | 0% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on July 20th as compared to 13th July 2012
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -1.1% |
| Ships | Mixed | -2.8% |
Change is on July 20th as compared to 13th July 2012
Pencil ingot
| Location | Change |
| Ahmedabad | -2% |
| Alang | 0% |
| Bhiwari | 0% |
| Chennai | 0% |
| Durgapur | -4% |
| Ghaziabad | -1% |
| Hyderabad | 0% |
| Jaipur | 0% |
| Jamshedpur | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | -1% |
| Mandi | -1% |
| Mumbai | -1% |
| Muzaffarnagar | 0% |
| Nagpur | -1% |
| Raigarh | 0% |
| Raipur | -1% |
| Rourkela | -1% |
| Rudrapur | 0% |
Change is on July 20th as compared to 13th July 2012
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 1% |
| Kolkata | 0% |
| Ludhiana | 1% |
| Raipur | 0% |
Change is on July 20th as compared to 13th July 2012
Sponge iron
| Location | Change |
| Bellary | 0% |
| Kolkata | 2% |
| Ludhiana | -2% |
| Raigarh | 0% |
| Raipur | -1% |
| Rourkela | -2% |
Change is on July 20th as compared to 13th July 2012
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | -2% |
| Delhi | -6% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | -2% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Muzaffarnagar | 0% |
| Raipur | 0% |
| Rudrapur | -1% |
Change is on July 20th as compared to 13th July 2012
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on July 20th as compared to 13th July 2012
ANGL
Grade A
65x65x6
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | -1% |
| Mandi | 0% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on July 20th as compared to 13th July 2012
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Ludhiana | -1% |
| Mandi | 0% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on July 20th as compared to 13th July 2012
JSTI
Grade A
250x125
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Ludhiana | -1% |
| Mandi | 0% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on July 20th as compared to 13th July 2012
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -1% |
| Kolkata | 0% |
| Ludhiana | -1% |
| Mumbai | 0% |
Change is on July 20th as compared to 13th July 2012
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | -1% |
| Mandi | 0% |
Change is on July 20th as compared to 13th July 2012
Plates
Grade A
8x1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on July 20th as compared to 13th July 2012
Plates
GRADE B
12-20x2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on July 20th as compared to 13th July 2012
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | -1% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 0% |
Change is on July 20th as compared to 13th July 2012
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Ludhiana | 0% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on July 20th as compared to 13th July 2012
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Ludhiana | 0% |
| Rudrapur | 0% |
Change is on July 20th as compared to 13th July 2012
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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
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Source - Steel Price India
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