Long product prices in India had shown resilience in the penultimate week of July signaling a much desired turnaround after the price in that period improved by up to 3 %. Factors behind this rally were yet again superficial rather than substantial. It ranged from perceived shortage of raw material, to hike in electricity cost and price thrust by re rollers to enliven the market. However the mute factor of an abysmally poor demand was omnipresent and punctured the distention at earliest slippage.
It is noteworthy that the project demand with minor aberrations has remained consistent all through. Retail has borne the brunt wherein immovable inventory and never say die depression in reality sector kept the chips down.
Since the edifice stood on a flimsy ground it was a matter of time before this flurry would have fizzled out. Come August the receding clouds reappeared darkening the horizon.
On the other hand, flat product prices, despite mounting inventories with most of the Indian steel mills, after a long vacation started showing some resilience last week. One of the factors attributing to this recovery is reported to be the move by HR importers to gain ground on the backdrop of surging levels at Black Sea off late.
The sustainability of this recovery remains to be seen this week as the inventory pressure could prove to be dangerous for Indian steel majors.
The Indian Long Product Price Index ILPPI declined by 40 points last week whereas Indian Flat Products Index IFPPI surged by 17 points. The overall price index INDSPI dropped by 13 points.
| Class | 06-Aug | 13-Aug | Change | % |
| ILPPI | 6884 | 6844 | -40 | -0.6% |
| IFPPI | 7599 | 7616 | 17 | 0.2% |
| INDSPI | 7224 | 7211 | -13 | -0.2% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 06-Aug | 13-Aug | Change | % |
| PI - TMT | 6801 | 6718 | -83 | -1.2% |
| PI - WRC | 7197 | 7193 | -4 | -0.1% |
| PI - Angle | 6503 | 6501 | -2 | 0.0% |
| PI - Channel | 6678 | 6628 | -51 | -0.8% |
| PI - Joist | 6159 | 6132 | -27 | -0.4% |
PI - Product Index
Flat products
| Category | 06-Aug | 13-Aug | Change | % |
| PI - Narrow Plates | 7150 | 7176 | 26 | 0.4% |
| PI - Wide Plates | 7590 | 7588 | -2 | 0.0% |
| PI - Hot Rolled | 7323 | 7350 | 27 | 0.4% |
| PI - Cold Rolled | 8431 | 8436 | 5 | 0.1% |
| PI - Galvanized | 8121 | 8114 | -6 | -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 | -5% |
| Hyderabad | -2% |
| Kandla | -2% |
| Kanpur | -2% |
| Kolkata | 0% |
| Mandi | -2% |
| Mumbai | -3% |
| Rudrapur | 0% |
Change is on Aug 13th 2010 as compared to August 6th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -5% |
| Ships | Mixed | -2% |
Change is on Aug 13th 2010 as compared to August 6th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | -2% |
| Alang | -2% |
| Bhiwari | -2% |
| Chennai | -4% |
| Durgapur | 1% |
| Ghaziabad | -3% |
| Hyderabad | -2% |
| Jaipur | 0% |
| Jamshedpur | -1% |
| Kanpur | -1% |
| Kolkata | 2% |
| Mandi | -1% |
| Mumbai | -2% |
| Muzzafarnagar | -1% |
| Nagpur | -2% |
| Raigarh | 0% |
| Raipur | -3% |
| Rourkela | -4% |
| Rudrapur | 1% |
Change is on Aug 13th 2010 as compared to August 6th 2010
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 1% |
| Kolkata | 0% |
| Raipur | 1% |
Change is on Aug 13th 2010 as compared to August 6th 2010
Sponge iron
| Location | Change |
| Bellary | -5% |
| Kolkata | 1% |
| Raigarh | -3% |
| Raipur | 4% |
| Rourkela | 1% |
Change is on Aug 13th 2010 as compared to August 6th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | -3% |
| Chennai | -3% |
| Delhi | 1% |
| Indore | -3% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -4% |
| Muzzafarnagar | 2% |
| Raipur | -1% |
| Rudrapur | 1% |
Change is on Aug 13th 2010 as compared to August 6th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | -1% |
| Kolkata | 2% |
| Raipur | -1% |
| Rudrapur | -1% |
Change is on Aug 13th 2010 as compared to August 6th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | -1% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -3% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -4% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Aug 13th 2010 as compared to August 6th 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | -1% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -3% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -3% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Aug 13th 2010 as compared to August 6th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | -1% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -2% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -3% |
| Raipur | -1% |
| Rudrapur | 1% |
Change is on Aug 13th 2010 as compared to August 6th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | 0% |
| Kolkata | 0% |
| Ludhiana | 1% |
| Mumbai | 1% |
Change is on Aug 13th 2010 as compared to August 6th 2010
Patra
| Location | Change |
| Delhi | 3% |
| Ludhiana | 3% |
| Mandi | 0% |
Change is on Aug 13th 2010 as compared to August 6th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 1% |
| Rudrapur | 0% |
Change is on Aug 13th 2010 as compared to August 6th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | 0% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | 1% |
| Raipur | 0% |
| Rudrapur | -2% |
Change is on Aug 13th 2010 as compared to August 6th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 0% |
Change is on Aug 13th 2010 as compared to August 6th 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Ludhiana | 4% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Aug 13th 2010 as compared to August 6th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Ludhiana | 4% |
| Rudrapur | 0% |
Change is on Aug 13th 2010 as compared to August 6th 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
| Currency | Single | 2-5 | 6-12 | 13-25 | 26-40 | 40-60 |
| INR | 66,000 | 132,000 | 220,000 | 440,000 | 660,000 | 880,000 |
| USD | 1,650 | 3,300 | 5,500 | 11,000 | 16,500 | 22,000 |
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.
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