Just when it seemed that the dark clouds had been dispelled and long product market erupted with a vengeance it seemed to have run out of steam over the last couple of days. The prices started dropping in the last few days after climbing in the first few days of last week.
The correction, despite price hike announcements by almost every steel major in India in October begging, thus reflects inherent weakness on demand side and overcapacity in long segment in India.
However post Diwali activity is likely to pick up when the labour returns from holidays and construction activity picks up. In the North culmination of Common Wealth Games is likely to ease logistical bottlenecks leading to pick up in demand.
Similar is the story with flat products. As per market reports, steel mills are finding it extremely hard to stick to their hiked level and are starting to get orders on case to case basis at lower levels.
The Indian Long Product Price Index ILPPI continued inclining by 33 points last week whereas Indian Flat Products Index IFPPI also wet up by 59 points. The overall price index INDSPI inclined by 46 points.
| Class | 01-Oct | 08-Oct | Change | % |
| ILPPI | 7101 | 7134 | 33 | 0.5% |
| IFPPI | 7839 | 7898 | 59 | 0.8% |
| INDSPI | 7452 | 7498 | 46 | 0.6% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 01-Oct | 08-Oct | Change | % |
| PI - TMT | 7045 | 7077 | 31 | 0.4% |
| PI - WRC | 7390 | 7425 | 35 | 0.5% |
| PI - Angle | 6804 | 6843 | 39 | 0.6% |
| PI - Channel | 6817 | 6834 | 17 | 0.3% |
| PI - Joist | 6350 | 6394 | 44 | 0.7% |
PI - Product Index
Flat products
| Category | 01-Oct | 08-Oct | Change | % |
| PI - Narrow Plates | 7333 | 7394 | 62 | 0.8% |
| PI - Wide Plates | 7754 | 7799 | 45 | 0.6% |
| PI - Hot Rolled | 7548 | 7610 | 62 | 0.8% |
| PI - Cold Rolled | 8759 | 8821 | 63 | 0.7% |
| PI - Galvanized | 8439 | 8490 | 50 | 0.6% |
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 | 0% |
| Kanpur | 2% |
| Kolkata | 1% |
| Mandi | -1% |
| Mumbai | -1% |
| Rudrapur | 0% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 0% |
| Ships | Mixed | 0% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 3% |
| Alang | 1% |
| Bhiwari | -1% |
| Chennai | 0% |
| Durgapur | 0% |
| Ghaziabad | 0% |
| Hyderabad | 1% |
| Jaipur | 0% |
| Jamshedpur | 2% |
| Kanpur | 0% |
| Kolkata | 2% |
| Mandi | 0% |
| Mumbai | -1% |
| Muzzafarnagar | 0% |
| Nagpur | 0% |
| Raigarh | 0% |
| Raipur | 0% |
| Rourkela | -1% |
| Rudrapur | 0% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 1% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
Sponge iron
| Location | Change |
| Bellary | 3% |
| Kolkata | 5% |
| Raigarh | 1% |
| Raipur | -2% |
| Rourkela | 2% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 2% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | -1% |
| Muzzafarnagar | 0% |
| Raipur | 1% |
| Rudrapur | 0% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 1% |
| Kolkata | 1% |
| Raipur | 1% |
| Rudrapur | 1% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 2% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Raipur | 1% |
| Rudrapur | 2% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 2% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Raipur | 1% |
| Rudrapur | 2% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 2% |
| Kanpur | 3% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | -1% |
| Raipur | 1% |
| Rudrapur | 3% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 1% |
| Chennai | 0% |
| Delhi | 3% |
| Indore | 1% |
| Kolkata | 1% |
| Ludhiana | 0% |
| Mumbai | 0% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
Patra
| Location | Change |
| Delhi | -1% |
| Ludhiana | 1% |
| Mandi | 0% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 3% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mumbai | 0% |
| Rudrapur | 1% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 3% |
| Indore | 1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 2% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | 1% |
| Chennai | 0% |
| Kolkata | 1% |
| Delhi | 0% |
| Ludhiana | 1% |
| Kanpur | 1% |
| Rudrapur | 2% |
| Bangalore | 0% |
Change is on Oct 8th 2010 as compared to Oct 1st 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mumbai | 0% |
| Ludhiana | 1% |
| Rudrapur | 2% |
Change is on Oct 8th 2010 as compared to Oct 1st 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
| Currency | Single | 2-5 | 6-12 | 13-25 | 26-40 | 40-60 |
| INR | 66,000 | 132,000 | 220,000 | 440,000 | 660,000 | 880,000 |
| USD | 1,650 | 3,300 | 5,500 | 11,000 | 16,500 | 22,000 |
How to subscribe
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