Indian steel market continued to exhibit inherent weakness on demand side last week and remain suppressed for both long and fat products.
The long product market in India is saddled with huge overcapacity, which by far overshoots the “Real demand” forcing market players “Secondary steel mills” to operate on thin margins. The festive season starting from Dussehra to next 20 days culminating on Diwali is further hampering the business sentiments. But most of the market players are however optimist that demand will pick up for long products thereafter and we shall see improved price levels.
On the other hand, euphoria for flat product seems to be coming to end with Chinese mills reducing their FOB levels by more than USD 50 per tonne after their week long holiday. Offers for HR FOB Black Sea have also started to weaken for both Ukrainian and Russian origins last week brightening the resumption of imports into India after a pause in last 2 months.
The Indian Long Product Price Index ILPPI declined by 70 points whereas Indian Flat Products Index IFPPI merely up by 1 point. The overall price index INDSPI dropped by 37 points.
| Class | 08-Oct | 15-Oct | Change | % |
| ILPPI | 7134 | 7063 | -70 | -1.0% |
| IFPPI | 7898 | 7899 | 1 | 0.0% |
| INDSPI | 7498 | 7461 | -37 | -0.5% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 08-Oct | 15-Oct | Change | % |
| PI - TMT | 7077 | 6976 | -100 | -1.4% |
| PI - WRC | 7425 | 7384 | -41 | -0.6% |
| PI - Angle | 6843 | 6767 | -76 | -1.1% |
| PI - Channel | 6834 | 6762 | -72 | -1.0% |
| PI - Joist | 6394 | 6333 | -61 | -1.0% |
PI - Product Index
Flat products
| Category | 08-Oct | 15-Oct | Change | % |
| PI - Narrow Plates | 7394 | 7390 | -4 | -0.1% |
| PI - Wide Plates | 7799 | 7778 | -21 | -0.3% |
| PI - Hot Rolled | 7610 | 7606 | -4 | -0.1% |
| PI - Cold Rolled | 8821 | 8844 | 23 | 0.3% |
| PI - Galvanized | 8490 | 8502 | 13 | 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 | -1% |
| Kolkata | -4% |
| Mandi | -3% |
| Mumbai | -2% |
| Rudrapur | 0% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -1% |
| Ships | Mixed | -3% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | -5% |
| Alang | -4% |
| Bhiwari | -2% |
| Chennai | 0% |
| Durgapur | -1% |
| Ghaziabad | -1% |
| Hyderabad | 0% |
| Jaipur | -3% |
| Jamshedpur | -1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mandi | -2% |
| Mumbai | -2% |
| Muzzafarnagar | -1% |
| Nagpur | -4% |
| Raigarh | -3% |
| Raipur | -4% |
| Rourkela | 0% |
| Rudrapur | 0% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
Sponge iron
| Location | Change |
| Bellary | -7% |
| Kolkata | -3% |
| Raigarh | -2% |
| Raipur | -1% |
| Rourkela | -5% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | -4% |
| Chennai | 0% |
| Delhi | -4% |
| Indore | -3% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mandi | -1% |
| Mumbai | -1% |
| Muzzafarnagar | -1% |
| Raipur | -3% |
| Rudrapur | -1% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Raipur | -3% |
| Rudrapur | 0% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | -4% |
| Bangalore | -1% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -4% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | -3% |
| Rudrapur | -1% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | -4% |
| Bangalore | -1% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -4% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | -3% |
| Rudrapur | -1% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | -2% |
| Bangalore | -1% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -2% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | -3% |
| Rudrapur | -1% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mumbai | 0% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | -1% |
| Mandi | -1% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 1% |
| Chennai | 0% |
| Delhi | 2% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 0% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Ludhiana | -1% |
| Kanpur | 1% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Oct 15th 2010 as compared to Oct 8th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Ludhiana | 0% |
| Rudrapur | 0% |
Change is on Oct 15th 2010 as compared to Oct 8th 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
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
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