As the global economy swung in throes of economic vacillation last week propagated by the capitalistic monsters of western world, the market players got a glimpse of stark realities facing the Indian steel industry.
Undeniably the steel market in India has been languishing for the past 6 months with no flicker of revival. Manufacturers have been feigning ecstasy in escapism expecting the next Quarter to be the savior pinning hopes on natural factors rather than substantive demand fundamentals. Passage of every despairing month only leads to hope for the better in next clinging to factors of seasonality and occasional localized ripples. In fact the temperament has become so fickle that it bears a direct correlation to the undulations in stock market rather than buying activity.
The murk deepens with each passing month as the deluge of misfortune refuses to abate. The only difference being the repositioning of the epicenter from domestic to international arena.
The ever escalating inflation cajoling the RBI to revise lending rates 15 times in since March 2010 has crippled demand from the key sectors of housing ,infrastructure and automobile.
Recent global stirrings leading to stock market collapse across the globe can be viewed as a catalyst in the Indian perspective.
It is brutal reality that the capacities have been blindly and unmindfully added in India based on rosy presumptions whereas the demand generation as not kept pace. The leap from 50 million to nearly 80 million tonnes within a decade though cannot be called phenomenal but the concurrent slackening in consumption has been aroused off late. The dichotomy is reflected in the gap between import and export narrowing down to mere 26000 tonnes in April-June 2011 from nearly 636000 tonnes in April-June 2010.
The emergence of India has steel exporter is on the horizon. It can be squarely imputed to the depleting demand and augmenting capacity.
The predictability of steel market speaks of a debilitating trend wherein the demand has vanished yielding space to pure speculation adding to the uncertainty.
Even though monsoon is on the wane and seasonal demand is expected during autumn and winter in the backdrop of the trail of misfortunes afflicting the steel market in particular and the economy in general circumspection can be the only recourse.
The Indian Long Product Price Index ILPPI has gone down by 48 points last week whereas Indian Flat Products Index IFPPI has also went down by 10 points. The overall price index INDSPI declined by 30 points.
| Class | 05-Aug | 12-Aug | Change | % |
| ILPPI | 8548 | 8501 | -48 | -0.6% |
| IFPPI | 8632 | 8621 | -10 | -0.1% |
| INDSPI | 8588 | 8558 | -30 | -0.3% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 05-Aug | 12-Aug | Change | % |
| PI - TMT | 8615 | 8563 | -53 | -0.6% |
| PI - WRC | 8771 | 8726 | -45 | -0.5% |
| PI - Angle | 8176 | 8128 | -47 | -0.6% |
| PI - Channel | 8269 | 8222 | -47 | -0.6% |
| PI - Joist | 7550 | 7515 | -35 | -0.5% |
PI - Product Index
Flat products
| Category | 05-Aug | 12-Aug | Change | % |
| PI - Narrow Plates | 8253 | 8231 | -22 | -0.3% |
| PI - Wide Plates | 8630 | 8606 | -23 | -0.3% |
| PI - Hot Rolled | 8302 | 8289 | -13 | -0.2% |
| PI - Cold Rolled | 9509 | 9518 | 9 | 0.1% |
| PI - Galvanized | 9299 | 9293 | -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 |
| Bangalore | 0% |
| Chennai | 0% |
| Hyderabad | -4% |
| Kandla | -1% |
| Kanpur | -2% |
| Kolkata | 0% |
| Ludhiana | -2% |
| Mandi | -2% |
| Mumbai | -2% |
| Rudrapur | -1% |
Change is on Aug 12th as compared to 5th Aug 2011
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -1% |
| Ships | Mixed | -2% |
Change is on Aug 12th as compared to 5th Aug 2011
Pencil ingot
| Location | Change |
| Ahmedabad | -3% |
| Alang | -3% |
| Bhiwari | -1% |
| Chennai | 0% |
| Durgapur | -3% |
| Ghaziabad | -1% |
| Hyderabad | -2% |
| Jaipur | -1% |
| Jamshedpur | -3% |
| Kanpur | -1% |
| Kolkata | -5% |
| Ludhiana | -2% |
| Mandi | -2% |
| Mumbai | -2% |
| Muzzafarnagar | -1% |
| Nagpur | -1% |
| Raigarh | -2% |
| Raipur | -2% |
| Rourkela | 0% |
| Rudrapur | -1% |
Change is on Aug 12th as compared to 5th Aug 2011
Pig Iron
| Location | Change |
| Agra | 2% |
| Jallandhar | 1% |
| Kolkata | 2% |
| Ludhiana | -3% |
| Raipur | 2% |
Change is on Aug 12th as compared to 5th Aug 2011
Sponge iron
| Location | Change |
| Bellary | -1% |
| Kolkata | -3% |
| Ludhiana | -1% |
| Raigarh | -4% |
| Raipur | -3% |
| Rourkela | -6% |
Change is on Aug 12th as compared to 5th Aug 2011
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -3% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | -1% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | -1% |
| Mumbai | 1% |
| Muzzafarnagar | -1% |
| Raipur | -1% |
| Rudrapur | -1% |
Change is on Aug 12th as compared to 5th Aug 2011
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Raipur | -1% |
| Rudrapur | -1% |
Change is on Aug 12th as compared to 5th Aug 2011
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | -1% |
| Kolkata | -1% |
| Ludhiana | -1% |
| Mandi | -1% |
| Mumbai | 2% |
| Raipur | -1% |
| Rudrapur | -1% |
Change is on Aug 12th as compared to 5th Aug 2011
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | -1% |
| Kolkata | -1% |
| Ludhiana | -1% |
| Mandi | -1% |
| Mumbai | 2% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Aug 12th as compared to 5th Aug 2011
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | -1% |
| Kolkata | -1% |
| Ludhiana | -1% |
| Mandi | -1% |
| Mumbai | 2% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Aug 12th as compared to 5th Aug 2011
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | -1% |
| Delhi | 0% |
| Indore | 0% |
| Kolkata | -1% |
| Ludhiana | -2% |
| Mumbai | 2% |
Change is on Aug 12th as compared to 5th Aug 2011
Patra
| Location | Change |
| Delhi | -1% |
| Ludhiana | -1% |
| Mandi | -1% |
Change is on Aug 12th as compared to 5th Aug 2011
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | -1% |
| Kolkata | -1% |
| Mumbai | 1% |
| Rudrapur | 0% |
Change is on Aug 12th as compared to 5th Aug 2011
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 1% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Aug 12th as compared to 5th Aug 2011
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 1% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Ludhiana | -1% |
| Mumbai | 2% |
| Pune | 2% |
| Rudrapur | 0% |
Change is on Aug 12th as compared to 5th Aug 2011
GP
100Gms
0.4
| Location | Change |
| Mumbai | 1% |
| Chennai | 0% |
| Kolkata | -1% |
| Delhi | 0% |
| Ludhiana | -2% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Aug 12th as compared to 5th Aug 2011
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | -1% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 1% |
| Ludhiana | -1% |
| Rudrapur | 0% |
Change is on Aug 12th as compared to 5th Aug 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.
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
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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