The Indian long product prices submerged under its own weight in week 37. Hitherto the prices had unshackled after a hiatus of nearly 4 months since September beginning giving the mills much desired reprieve.
The fairy tale had the underpinnings of neutralizer owing to burgeoning inventory accumulated during the 4 months sojourn.
After the initial thrust with a price hike of INR 1000 per tonne in TMT in September it was time for the traders and stockiest to play the dampener by releasing old stock accumulated earlier making enhanced margins even at levels below the marked prices. It was widely anticipated that even secondary manufacturers and some majors who had heavy stockpiles would give lucrative discounts to liquidate. But with monsoon having an extended run in Northern India the demand from construction segment is yet to unleash.
On the other hand, despite all around improvement in global levels for HR and plates, Indian steel mills attempt to hike prices seems to facing stiff resistance from demand as the market prices could not hold ground. It is also heard that a major steel mill is producing half the volumes because of some operational issues, restricting availability, which should have supported prices.
The Indian Long Product Price Index ILPPI dropped by 19 points last week whereas Indian Flat Products Index IFPPI also declined by 17 points. The overall price index INDSPI down by 17 points.
| Class | 10-Sep | 17-Sep | Change | % |
| ILPPI | 7016 | 6997 | -19 | -0.3% |
| IFPPI | 7793 | 7778 | -15 | -0.2% |
| INDSPI | 7386 | 7369 | -17 | -0.2% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 10-Sep | 17-Sep | Change | % |
| PI - TMT | 7000 | 6966 | -34 | -0.5% |
| PI - WRC | 7276 | 7262 | -15 | -0.2% |
| PI - Angle | 6717 | 6699 | -18 | -0.3% |
| PI - Channel | 6696 | 6714 | 18 | 0.3% |
| PI - Joist | 6243 | 6249 | 6 | 0.1% |
PI - Product Index
Flat products
| Category | 10-Sep | 17-Sep | Change | % |
| PI - Narrow Plates | 7318 | 7286 | -33 | -0.4% |
| PI - Wide Plates | 7720 | 7714 | -6 | -0.1% |
| PI - Hot Rolled | 7504 | 7482 | -22 | -0.3% |
| PI - Cold Rolled | 8689 | 8696 | 7 | 0.1% |
| PI - Galvanized | 8372 | 8361 | -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 | 0% |
| Hyderabad | 0% |
| Kandla | 1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | -2% |
| Mumbai | -1% |
| Rudrapur | 0% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 4% |
| Ships | Mixed | -1% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | -2% |
| Alang | -2% |
| Bhiwari | -2% |
| Chennai | 0% |
| Durgapur | -2% |
| Ghaziabad | -2% |
| Hyderabad | 2% |
| Jaipur | -1% |
| Jamshedpur | 2% |
| Kanpur | 0% |
| Kolkata | -2% |
| Mandi | -2% |
| Mumbai | 0% |
| Muzzafarnagar | -1% |
| Nagpur | -1% |
| Raigarh | 0% |
| Raipur | -1% |
| Rourkela | 1% |
| Rudrapur | 0% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
Pig Iron
| Location | Change |
| Agra | 4% |
| Jallandhar | 3% |
| Kolkata | 4% |
| Raipur | 4% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
Sponge iron
| Location | Change |
| Bellary | -1% |
| Kolkata | 0% |
| Raigarh | -2% |
| Raipur | -1% |
| Rourkela | -4% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | -4% |
| Mandi | -1% |
| Mumbai | 0% |
| Muzzafarnagar | 0% |
| Raipur | -2% |
| Rudrapur | 0% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | -1% |
| Kolkata | 2% |
| Raipur | -2% |
| Rudrapur | -1% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | 0% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mandi | -1% |
| Mumbai | 0% |
| Raipur | -2% |
| Rudrapur | -1% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | 4% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | -1% |
| Mumbai | 0% |
| Raipur | -2% |
| Rudrapur | 1% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 2% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | -1% |
| Mumbai | 0% |
| Raipur | -2% |
| Rudrapur | 0% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kolkata | 0% |
| Ludhiana | 1% |
| Mumbai | 0% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | 0% |
| Mandi | -1% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | -1% |
| Pune | -1% |
| Rudrapur | 0% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | -1% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Ludhiana | 0% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Sep 17th 2010 as compared to Sep 10th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Ludhiana | 0% |
| Rudrapur | 0% |
Change is on Sep 17th 2010 as compared to Sep 10th 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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| USD | 1,650 | 3,300 | 5,500 | 11,000 | 16,500 | 22,000 |
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