The Long product market has been showing simmering of an impending revival. The price movement in the last 1 week is indicative of ruffles as the prices have improved by 1%.
The progenitor of this silver lining has been external with the last 1 month witnessing a remarkable ascendancy in scrap prices touching USD 360 per tonne to USD 365 per tonne CNF terms. Following suit has been the improvement in billet and rebar prices by USD 40 per tonne to USD 50 per tonne in the interregnum.
The rally in international price levels followed by a significant rally in ingot levels during the last fortnight which has not translated into a proportionate increment in finished prices. This has bolstered Indian manufacturer who have opted to take the gamble of roll over expecting a rally during the month.
The price hike in most of the locations once again has a cost push connotations owing to the following reasons:
1. Scrap shortage owing to strike at the cutting yard in Bhavnagar and escalation in international price levels to the tune of USD 80 per tonne. Incidentally the strike has got over and supply has restarted.
2. Hike in power tariff by INR 1 per unit leading to cost increase
3. Iron ore and sponge iron shortage due to clamp down on illegal mining and shutting down of unviable sponge iron units
4. Shutting down of re rollers under severe demand shortage during the last 4 months has led supply shortage.
However this mercurial spurt in prices is expected to fizzle out unless matched by a concerted effort by supplier. With most of the primary manufacturers yet to open their cards in the eventuality of roll over it is expected that the secondary producers will feel the heat as the recent hike in prices will edge buyers towards primary suppliers as the price differential is squeezed.
The Indian Long Product Price Index ILPPI surged by 80 points whereas Indian Flat Products Index IFPPI dropped by 2 points. The overall price index INDSPI inclined by 41 points.
| Class | 30-Jul | 06-Aug | Change | % |
| ILPPI | 6804 | 6884 | 80 | 1.2% |
| IFPPI | 7601 | 7599 | -2 | 0.0% |
| INDSPI | 7183 | 7224 | 41 | 0.6% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 30-Jul | 06-Aug | Change | % |
| PI - TMT | 6680 | 6801 | 121 | 1.8% |
| PI - WRC | 7151 | 7197 | 46 | 0.6% |
| PI - Angle | 6479 | 6503 | 24 | 0.4% |
| PI - Channel | 6574 | 6678 | 105 | 1.6% |
| PI - Joist | 6083 | 6159 | 75 | 1.2% |
PI - Product Index
Flat products
| Category | 30-Jul | 06-Aug | Change | % |
| PI - Narrow Plates | 7143 | 7150 | 6 | 0.1% |
| PI - Wide Plates | 7600 | 7590 | -10 | -0.1% |
| PI - Hot Rolled | 7333 | 7323 | -10 | -0.1% |
| PI - Cold Rolled | 8416 | 8431 | 15 | 0.2% |
| PI - Galvanized | 8110 | 8121 | 11 | 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 |
| Chennai | 14% |
| Hyderabad | 5% |
| Kandla | 3% |
| Kanpur | 0% |
| Kolkata | 2% |
| Mandi | 0% |
| Mumbai | 1% |
| Rudrapur | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 1% |
| Ships | Mixed | 1% |
Change is on Aug 6th 2010 as compared to July 30th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 2% |
| Alang | 2% |
| Bhiwari | 0% |
| Chennai | 0% |
| Durgapur | 2% |
| Ghaziabad | 1% |
| Hyderabad | 7% |
| Jaipur | 0% |
| Jamshedpur | 1% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mandi | 0% |
| Mumbai | 1% |
| Muzzafarnagar | 0% |
| Nagpur | 2% |
| Raigarh | 0% |
| Raipur | 2% |
| Rourkela | 1% |
| Rudrapur | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
Sponge iron
| Location | Change |
| Bellary | 4% |
| Kolkata | 0% |
| Raigarh | 1% |
| Raipur | 1% |
| Rourkela | 1% |
Change is on Aug 6th 2010 as compared to July 30th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 3% |
| Bangalore | 2% |
| Chennai | 7% |
| Delhi | 2% |
| Indore | 5% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 1% |
| Muzzafarnagar | 0% |
| Raipur | 2% |
| Rudrapur | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 2% |
| Raipur | 2% |
| Rudrapur | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 2% |
| Chennai | 2% |
| Delhi | 0% |
| Indore | 3% |
| Kanpur | 0% |
| Kolkata | 2% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 2% |
| Rudrapur | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 2% |
| Chennai | 4% |
| Delhi | 0% |
| Indore | 3% |
| Kanpur | 0% |
| Kolkata | 2% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 2% |
| Rudrapur | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 1% |
| Chennai | 3% |
| Delhi | 0% |
| Indore | 2% |
| Kanpur | 0% |
| Kolkata | 2% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 2% |
| Rudrapur | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | -3% |
| Delhi | 0% |
| Indore | 0% |
| Kolkata | 0% |
| Ludhiana | -2% |
| Mumbai | 2% |
Change is on Aug 6th 2010 as compared to July 30th 2010
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | -1% |
| Mandi | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 1% |
| Rudrapur | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 1% |
| Pune | 1% |
| Rudrapur | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | 1% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Ludhiana | -2% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Aug 6th 2010 as compared to July 30th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Ludhiana | -2% |
| Rudrapur | 0% |
| Rudrapur | -2% |
Change is on Aug 6th 2010 as compared to July 30th 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.
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