The long product prices at several places showed an uncanny rally last week setting rumors agog about an imminent price revival, just like June end.
However this rally seems to be yet again a transitory phase primarily originating from “Gods own hand” in form of monsoon which has been bountiful in this region. This in turn has led to scuttling the mining operations and logistical bottlenecks leading to a shortage thereby pushing the cost up. However this momentary flutter is in no way supported by any demand escalation. Market is expected to take its customary subdued trajectory sooner rather than later.
Flat product market in India is on an extended dry run for the last 4 months. Domestic and international market sentiments continue to languish with minor hiccups and the fundamentals have largely remained unchanged.
The mills have seen their sales volume plummeting by about 60% MoM due to lack of buying. Stockiest are maintaining stocks of not more than a week whereas buying absolutely need based.
Although mills have been rolling over the prices month on month deceiving with lucrative rebate and discounts the exercise has proved to be futile. Market is eagerly awaiting price reduction by INR 1000 per tonne to INR 1500 per tonne to bounce back.
Every cloud has a silver lining. With the waning of monsoon once the project work resumes the demand will improve providing reprieve.
The Indian Long Product Price Index ILPPI surged by 55 points whereas Indian Flat Products Index IFPPI dropped by 30 points. The overall price index INDSPI inclined by 14 points.
| Class | 23-Jul | 30-Jul | Change | % |
| ILPPI | 6749 | 6804 | 55 | 0.8% |
| IFPPI | 7631 | 7601 | -30 | -0.4% |
| INDSPI | 7169 | 7183 | 14 | 0.2% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 23-Jul | 30-Jul | Change | % |
| PI - TMT | 6608 | 6680 | 73 | 1.1% |
| PI - WRC | 7111 | 7151 | 40 | 0.6% |
| PI - Angle | 6439 | 6479 | 40 | 0.6% |
| PI - Channel | 6514 | 6574 | 60 | 0.9% |
| PI - Joist | 6032 | 6083 | 51 | 0.9% |
PI - Product Index
Flat products
| Category | 23-Jul | 30-Jul | Change | % |
| PI - Narrow Plates | 7182 | 7143 | -39 | -0.5% |
| PI - Wide Plates | 7648 | 7600 | -49 | -0.6% |
| PI - Hot Rolled | 7369 | 7333 | -35 | -0.5% |
| PI - Cold Rolled | 8443 | 8416 | -27 | -0.3% |
| PI - Galvanized | 8083 | 8110 | 27 | 0.3% |
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 |
| Alang | 3% |
| Chennai | 0% |
| Hyderabad | 6% |
| Kandla | 0% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 2% |
| Mumbai | 2% |
| Rudrapur | 0% |
Change is on July 30th 2010 as compared to July 23rd 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 1% |
| Ships | Mixed | 2% |
Change is on July 30th 2010 as compared to July 23rd 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 3% |
| Alang | 3% |
| Bhiwari | 2% |
| Chennai | 0% |
| Durgapur | 1% |
| Ghaziabad | 3% |
| Hyderabad | 0% |
| Jaipur | 0% |
| Jamshedpur | 1% |
| Kanpur | 1% |
| Kolkata | -1% |
| Mandi | 2% |
| Mumbai | 3% |
| Muzzafarnagar | 2% |
| Nagpur | 2% |
| Raigarh | 2% |
| Raipur | 2% |
| Rourkela | 3% |
| Rudrapur | 0% |
Change is on July 30th 2010 as compared to July 23rd 2010
Pig Iron
| Location | Change |
| Agra | 1% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Raipur | 1% |
Change is on July 30th 2010 as compared to July 23rd 2010
Sponge iron
| Location | Change |
| Bellary | 7% |
| Kolkata | 7% |
| Raigarh | 2% |
| Raipur | 7% |
| Rourkela | 6% |
Change is on July 30th 2010 as compared to July 23rd 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 3% |
| Banglore | 2% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | 3% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mandi | -1% |
| Mumbai | 2% |
| Muzaffarnagar | 0% |
| Raipur | 3% |
| Rudrapur | 1% |
Change is on July 30th 2010 as compared to July 23rd 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 1% |
| Kolkata | -2% |
| Raipur | 3% |
| Rudrapur | 2% |
Change is on July 30th 2010 as compared to July 23rd 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 3% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 2% |
| Kanpur | 1% |
| Kolkata | -2% |
| Mandi | 1% |
| Mumbai | 2% |
| Raipur | 3% |
| Rudrapur | 1% |
Change is on July 30th 2010 as compared to July 23rd 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 3% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 2% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 2% |
| Raipur | 3% |
| Rudrapur | 2% |
Change is on July 30th 2010 as compared to July 23rd 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 3% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 2% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 2% |
| Raipur | 3% |
| Rudrapur | 1% |
Change is on July 30th 2010 as compared to July 23rd 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kolkata | -1% |
| Ludhiana | 0% |
| Mumbai | -1% |
Change is on July 30th 2010 as compared to July 23rd 2010
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | -1% |
| Mandi | 1% |
Change is on July 30th 2010 as compared to July 23rd 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | -1% |
| Rudrapur | -1% |
Change is on July 30th 2010 as compared to July 23rd 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | -1% |
| Kolkata | -1% |
| Mumbai | 0% |
| Raipur | -2% |
| Rudrapur | -1% |
Change is on July 30th 2010 as compared to July 23rd 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | -1% |
| Pune | -1% |
| Rudrapur | -1% |
Change is on July 30th 2010 as compared to July 23rd 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | 1% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Ludhiana | -4% |
| Kanpur | 1% |
| Rudrapur | -2% |
| Bangalore | 0% |
Change is on July 30th 2010 as compared to July 23rd 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Ludhiana | -3% |
| Rudrapur | -2% |
Change is on July 30th 2010 as compared to July 23rd 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
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