As anticipated the steel market in India is slated for pyrotechnics. Both secondary and primary manufacturers had been flexing their muscles over the last fortnight for hike in prices. In fact secondary manufacturers had already set the market ablaze with nearly INR 2000 per tonne price hike during this period setting the stage for a similar move by majors.
It is learnt that despite a long weekend with Gandhi Jayanti on 2nd October the excitement of the mills can barely be concealed with INR 2000 per tonne hike in TMT bar prices by two steel majors and INR 1000 per tonne by secondary re rollers. The light structural and semis prices have been hiked by INR 1500 per tonne.
Peculiarly despite these price hikes the transactions remained abysmally low in all the regions owing to the long weekend and buyer’s skepticism over the absorption was writ large. Moreover the market will certainly be hopeful of the addictive discounts and rebates to unfold this week when all the players open their cards.
The stage is set with monsoon on the wane and construction activity expected to pick up, project demand remaining rock steady has been the mainstay of this revival. Moreover it is learnt that the primary mills having exhausted their stocks and are barely able to maintain supplies to MOU customers.
On the other hand, Indian steel manufacturers on October 1st 2010 increased domestic prices for flats by up to INR 1,500 a tonne to cash in on the pick up in demand this festive season but mainly on higher import parity.
The Indian Long Product Price Index ILPPI continued inclining by 88 points whereas Indian Flat Products Index IFPPI also up by 52 points. The overall price index INDSPI inclined by 71 points.
| Class | 24-Sep | 01-Oct | Change | % |
| ILPPI | 7012 | 7101 | 88 | 1.3% |
| IFPPI | 7787 | 7839 | 52 | 0.7% |
| INDSPI | 7381 | 7452 | 71 | 1.0% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 24-Sep | 01-Oct | Change | % |
| PI - TMT | 6943 | 7045 | 102 | 1.5% |
| PI - WRC | 7308 | 7390 | 82 | 1.1% |
| PI - Angle | 6730 | 6804 | 74 | 1.1% |
| PI - Channel | 6743 | 6817 | 73 | 1.1% |
| PI - Joist | 6278 | 6350 | 72 | 1.1% |
PI - Product Index
Flat products
| Category | 24-Sep | 01-Oct | Change | % |
| PI - Narrow Plates | 7269 | 7333 | 64 | 0.9% |
| PI - Wide Plates | 7711 | 7754 | 43 | 0.6% |
| PI - Hot Rolled | 7504 | 7548 | 44 | 0.6% |
| PI - Cold Rolled | 8699 | 8759 | 60 | 0.7% |
| PI - Galvanized | 8362 | 8439 | 77 | 0.9% |
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 | 5% |
| Kandla | 1% |
| Kanpur | 2% |
| Kolkata | 1% |
| Mandi | 3% |
| Mumbai | 1% |
| Rudrapur | 3% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 3% |
| Ships | Mixed | 2% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 3% |
| Alang | 2% |
| Bhiwari | 3% |
| Chennai | 0% |
| Durgapur | 1% |
| Ghaziabad | 2% |
| Hyderabad | 5% |
| Jaipur | 4% |
| Jamshedpur | 2% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 3% |
| Muzzafarnagar | 4% |
| Nagpur | 5% |
| Raigarh | 3% |
| Raipur | 4% |
| Rourkela | 4% |
| Rudrapur | 1% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
Pig Iron
| Location | Change |
| Agra | 4% |
| Jallandhar | 4% |
| Kolkata | 4% |
| Raipur | 4% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
Sponge iron
| Location | Change |
| Bellary | -4% |
| Kolkata | 3% |
| Raigarh | 3% |
| Raipur | 3% |
| Rourkela | 3% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 4% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | 2% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 2% |
| Muzzafarnagar | 3% |
| Raipur | 4% |
| Rudrapur | 1% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 2% |
| Kolkata | 0% |
| Raipur | 3% |
| Rudrapur | 1% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 3% |
| Chennai | 0% |
| Delhi | -3% |
| Indore | 2% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 2% |
| Raipur | 3% |
| Rudrapur | 2% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 3% |
| Chennai | 0% |
| Delhi | -3% |
| Indore | 2% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 2% |
| Raipur | 3% |
| Rudrapur | 2% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 3% |
| Chennai | 0% |
| Delhi | -3% |
| Indore | 1% |
| Kanpur | 3% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 2% |
| Raipur | 3% |
| Rudrapur | 2% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 1% |
| Kolkata | 1% |
| Ludhiana | 2% |
| Mumbai | 2% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
Patra
| Location | Change |
| Delhi | -2% |
| Ludhiana | 0% |
| Mandi | 0% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mumbai | 2% |
| Rudrapur | 1% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mumbai | 3% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | 2% |
| Pune | 2% |
| Rudrapur | 0% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | 2% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | 2% |
| Ludhiana | 2% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 2% |
Change is on Oct 1st 2010 as compared to Sep 24th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 3% |
| Chennai | 0% |
| Delhi | 1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 2% |
| Ludhiana | 2% |
| Rudrapur | 0% |
Change is on Oct 1st 2010 as compared to Sep 24th 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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