About a month back the long prices had shown improvement primarily pushed by re rollers to force the pace as a survival ploy. One of the main propellants of this price hike had been acute power shortage leading to power rationing and hike in power tariffs.

Apart from these factors a rather tactful price roll over by primary manufacturers to offload their burgeoning inventory at the cost of secondary producers came out to be a cropper.

The flat product prices in India are all set for a turnaround in the coming weeks.

Hitherto the sentiments had been lying sullen for an extended 4 months. The domestic market had been reeling under poor demand and import onslaught for the bulk of this phase. However the international steel prices have shown resilience in the last 1 month propelled by cost push with astounding escalation in scrap and iron ore prices to the tune of USD 120 per tonne and USD 24 per tonne during the same period.

Concurrently the truncated capacity by the mills over the last quarter had the fallout of poor availability and extended delivery schedule. Mean while Chinese domestic levels chipped in with an up turn for better around mid July fuelled by screen trading and anticipated flurry in autumn demand.

Resultantly the offers hitting Indian shores have improved by USD 25 per tonne to USD 30 per tonne in the last fortnight taking the feather out of lucrative import proposition .The import offers at USD 630 per tonne to USD 640 per tonne CNF Mumbai are barely having any takers.

The Indian Long Product Price Index ILPPI inclined by 13 points during last week whereas Indian Flat Products Index IFPPI surged by 2 points. The overall price index INDSPI went up by 8 points.

ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index

Long Products

PI - Product Index

Flat products

PI - Product Index

These indices have base of 10,000 as on July 1st 2008
To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html

To download a presentation please paste this link in your browser
http://www.steelprices-india.com/uploads/Steel_Price_Index_Presentation.ppt

You can now get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at
http://steelprices-india.com/smsalert

1. Input material

Melting scrap
80:20
HMS

Change is on Aug 20th 2010 as compared to Aug 13th 2010

Alang

Change is on Aug 20th 2010 as compared to Aug 13th 2010

Pencil ingot

Change is on Aug 20th 2010 as compared to Aug 13th 2010

Pig Iron

Change is on Aug 20th 2010 as compared to Aug 13th 2010

Sponge iron

Change is on Aug 20th 2010 as compared to Aug 13th 2010

2. Long products

Rebar (TMT QST)
Fe 415
12mm

Change is on Aug 20th 2010 as compared to Aug 13th 2010

WRC
SWR14
5.5/6

Change is on Aug 20th 2010 as compared to Aug 13th 2010

ANGL
Grade A
65X65X6

Change is on Aug 20th 2010 as compared to Aug 13th 2010

CHNL
Grade A
75/40

Change is on Aug 20th 2010 as compared to Aug 13th 2010

JSTI
Grade A
250X125

Change is on Aug 20th 2010 as compared to Aug 13th 2010

3. Flat products

HRC
Tube
2.5x1250

Change is on Aug 20th 2010 as compared to Aug 13th 2010

Patra

Change is on Aug 20th 2010 as compared to Aug 13th 2010

Plates
Grade A
8X1250/1500

Change is on Aug 20th 2010 as compared to Aug 13th 2010

Plates
GRADE B
12-20X2500

Change is on Aug 20th 2010 as compared to Aug 13th 2010

CR
DSK
0.63x1000

Change is on Aug 20th 2010 as compared to Aug 13th 2010

GP
100Gms
0.4

Change is on Aug 20th 2010 as compared to Aug 13th 2010

GC
100Gms
0.4

Change is on Aug 20th 2010 as compared to Aug 13th 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

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.
3. Call at 0091-124-3007891/2/3

(Sourced from www.steelprices-india.com)