Indian domestic steel market is at cross roads with lot of uncertainty at the horizon.
While the domestic demand is really subdued, global economic indicators do not forbade well for the coming times. In addition, capacities are continuing to come on stream creating surplus for both longs and flats. As a result, domestic steel prices should be looking down.
On the other hand, the iron ore crisis in many parts of the country seems to be gaining ground with new murky issues appearing everyday. As a result Indian steel maker especially JSW are not able to run at full capacity removing substantial volumes from the market. In addition, INR close to 50 is not helping imports to fill this void as yet.
Thus while the market for long product is dull despite the restart of construction season, the flat products have seen some crackles last week, when the traders hiked prices anticipating hike form steel mills in the first week of October.
This week will set the short term course for Indian steel market for flat products depending upon available volumes and price hikes by Indian steel majors.
The Indian Long Product Price Index ILPPI continued in upward trends with 35 points last week whereas Indian Flat Products Index IFPPI has gone up by 114 points. The overall price index INDSPI inclined by 73 points.
| Class | 23-Sep | 30-Sep | Change | % |
| ILPPI | 8437 | 8472 | 35 | 0.4% |
| IFPPI | 8618 | 8731 | 114 | 1.3% |
| INDSPI | 8523 | 8596 | 73 | 0.9% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 23-Sep | 30-Sep | Change | % |
| PI - TMT | 8556 | 8600 | 45 | 0.5% |
| PI - WRC | 8601 | 8652 | 51 | 0.6% |
| PI - Angle | 8056 | 8021 | -35 | -0.4% |
| PI - Channel | 8179 | 8173 | -6 | -0.1% |
| PI - Joist | 7469 | 7475 | 5 | 0.1% |
PI - Product Index
Flat products
| Category | 23-Sep | 30-Sep | Change | % |
| PI - Narrow Plates | 8225 | 8307 | 82 | 1.0% |
| PI - Wide Plates | 8590 | 8643 | 53 | 0.6% |
| PI - Hot Rolled | 8296 | 8460 | 165 | 2.0% |
| PI - Cold Rolled | 9519 | 9547 | 28 | 0.3% |
| PI - Galvanized | 9237 | 9328 | 90 | 1.0% |
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 | 0% |
| Kandla | -2% |
| Kanpur | 2% |
| Kolkata | -1% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | 0% |
| Rudrapur | 3% |
Change is on Sep 30th as compared to 23rd Sep 2011
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -2% |
| Ships | Mixed | -3% |
Change is on Sep 30th as compared to 23rd Sep 2011
Pencil ingot
| Location | Change |
| Ahmedabad | -1% |
| Alang | -3% |
| Bhiwari | 0% |
| Chennai | 0% |
| Durgapur | 0% |
| Ghaziabad | 1% |
| Hyderabad | -3% |
| Jaipur | 1% |
| Jamshedpur | 0% |
| Kanpur | 4% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 1% |
| Mumbai | -1% |
| Muzzafarnagar | 1% |
| Nagpur | 2% |
| Raigarh | 1% |
| Raipur | 2% |
| Rourkela | 0% |
| Rudrapur | 4% |
Change is on Sep 30th as compared to 23rd Sep 2011
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Raipur | 0% |
Change is on Sep 30th as compared to 23rd Sep 2011
Sponge iron
| Location | Change |
| Bellary | 1% |
| Kolkata | -1% |
| Ludhiana | 2% |
| Raigarh | 2% |
| Raipur | 3% |
| Rourkela | 0% |
Change is on Sep 30th as compared to 23rd Sep 2011
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | -2% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 3% |
| Kolkata | 1% |
| Ludhiana | 1% |
| Mandi | 1% |
| Mumbai | -1% |
| Muzzafarnagar | 3% |
| Raipur | 1% |
| Rudrapur | 3% |
Change is on Sep 30th as compared to 23rd Sep 2011
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 3% |
| Kolkata | -1% |
| Raipur | 1% |
| Rudrapur | 3% |
Change is on Sep 30th as compared to 23rd Sep 2011
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | -2% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 1% |
| Kanpur | 1% |
| Kolkata | -1% |
| Ludhiana | 0% |
| Mandi | 1% |
| Mumbai | -1% |
| Raipur | 1% |
| Rudrapur | 0% |
Change is on Sep 30th as compared to 23rd Sep 2011
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | -2% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 1% |
| Kanpur | 1% |
| Kolkata | -1% |
| Ludhiana | 0% |
| Mandi | 1% |
| Mumbai | -1% |
| Raipur | 1% |
| Rudrapur | 0% |
Change is on Sep 30th as compared to 23rd Sep 2011
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 1% |
| Kanpur | 1% |
| Kolkata | -1% |
| Ludhiana | 0% |
| Mandi | 1% |
| Mumbai | -1% |
| Raipur | 1% |
| Rudrapur | 0% |
Change is on Sep 30th as compared to 23rd Sep 2011
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | 3% |
| Kolkata | 0% |
| Ludhiana | 1% |
| Mumbai | 6% |
Change is on Sep 30th as compared to 23rd Sep 2011
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | -1% |
| Mandi | 1% |
Change is on Sep 30th as compared to 23rd Sep 2011
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 2% |
| Kanpur | 1% |
| Kolkata | -1% |
| Mumbai | 6% |
| Rudrapur | 1% |
Change is on Sep 30th as compared to 23rd Sep 2011
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 2% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | 0% |
| Kanpur | 1% |
| Kolkata | -1% |
| Mumbai | 6% |
| Raipur | 1% |
| Rudrapur | 2% |
Change is on Sep 30th as compared to 23rd Sep 2011
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 2% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 1% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 0% |
Change is on Sep 30th as compared to 23rd Sep 2011
GP
100Gms
0.4
| Location | Change |
| Mumbai | 1% |
| Chennai | 0% |
| Kolkata | -1% |
| Delhi | 3% |
| Ludhiana | 1% |
| Kanpur | 2% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Sep 30th as compared to 23rd Sep 2011
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 3% |
| Kanpur | 2% |
| Kolkata | -1% |
| Mumbai | 1% |
| Ludhiana | 1% |
| Rudrapur | 0% |
Change is on Sep 30th as compared to 23rd Sep 2011
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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
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