Predictably cracks are appearing in the long steel market in India after hibernating for almost 6 months. At long last the long product prices inched up by 0.4% during the week showing signals of turnaround post festivities.
As the economy enters the penultimate quarter in the thick of seasonal consumption vibes of revival have led to price movements in an otherwise placid market.
Price hike of 1% within a span of 3 days propelled by strengthening of pencil ingot and sponge iron price is something to be reckoned with. Economy saddled in policy and political paralysis with monsoon session of the parliament washed out by the coal scam deluge it was time for some affirmative action by the government. Slew of economically prudent decisions gave traction to sagging market.
Post monsoon Q3 & Q4 is the period of economic activity picking up. Even though the industrial output has shown a meager 2.1% growth and the inflation has remained recalcitrant at 7.81% in August it does not write off turn of fortunes post festivities (3rd week of November). Non-reduction in lending rate notwithstanding by paranoid RBI construction activity is bound to pick up both in infrastructure and reality. Momentum has already been set with FDI in retail opening the floodgates for construction of retail outlets at a brisk pace in metropolis within the next 18 months. Please refer out article on14/10/12 “Long steel product market in for fireworks post pitra paksha in India”
Moreover with improvement in global scrap levels during winter will provide cost leverage to furnace owners to hike prices.
Coming 4 weeks would be preparatory for a sustained growth in buying after the culmination of Chaath festival with the labor force trooping back to the construction sites.
The Indian Long Product Price Index ILPPI has gone up by 34 points last week whereas Indian Flat Products Index IFPPI remained stable. The overall price index INDSPI inclined by 18 points.
| Class | 19-Oct | 26-Oct | Change | % |
| ILPPI | 9054 | 9088 | 34 | 0.4% |
| IFPPI | 8651 | 8651 | 0 | 0.0% |
| INDSPI | 8862 | 8880 | 18 | 0.2% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 19-Oct | 26-Oct | Change | % |
| PI - TMT | 9283 | 9339 | 56 | 0.6% |
| PI - WRC | 9187 | 9204 | 17 | 0.2% |
| PI - Angle | 8544 | 8579 | 35 | 0.4% |
| PI - Channel | 8636 | 8667 | 31 | 0.4% |
| PI - Joist | 7918 | 7931 | 13 | 0.2% |
PI - Product Index
Flat products
| Category | 19-Oct | 26-Oct | Change | % |
| PI - Narrow Plates | 8193 | 8193 | 0 | 0.0% |
| PI - Wide Plates | 8586 | 8586 | 0 | 0.0% |
| PI - Hot Rolled | 8427 | 8427 | 0 | 0.0% |
| PI - Cold Rolled | 9398 | 9398 | 0 | 0.0% |
| PI - Galvanized | 9109 | 9109 | 0 | 0.0% |
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 | 1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 3% |
| Mandi | 3% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -0.4% |
| Ships | Mixed | 0.0% |
Change is on 26th October as compared to 19th October 2012
Pencil ingot
| Location | Change |
| Ahmedabad | 0% |
| Alang | 0% |
| Bhiwari | -1% |
| Chennai | 0% |
| Durgapur | 0% |
| Ghaziabad | 0% |
| Hyderabad | -2% |
| Jaipur | 3% |
| Jamshedpur | 0% |
| Kanpur | 4% |
| Kolkata | 0% |
| Ludhiana | 2% |
| Mandi | 2% |
| Mumbai | 1% |
| Muzaffarnagar | 1% |
| Nagpur | 0% |
| Raigarh | 3% |
| Raipur | 2% |
| Rourkela | 1% |
| Rudrapur | 2% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
Pig Iron
| Location | Change |
| Agra | 3% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Raipur | 2% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
Sponge iron
| Location | Change |
| Bellary | 0% |
| Kolkata | 0% |
| Ludhiana | 2% |
| Raigarh | 2% |
| Raipur | 1% |
| Rourkela | 1% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | 0% |
| Kanpur | 4% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | 1% |
| Muzaffarnagar | 3% |
| Raipur | 0% |
| Rudrapur | 3% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 1% |
| Kolkata | 0% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
ANGL
Grade A
65x65x6
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 3% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 1% |
| Mumbai | 1% |
| Raipur | 0% |
| Rudrapur | 2% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 3% |
| Kolkata | 0% |
| Ludhiana | 1% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 0% |
| Rudrapur | 2% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
JSTI
Grade A
250x125
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 1% |
| Kolkata | 0% |
| Ludhiana | 2% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
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 26th October as compared to 19th October 2012
Change is per tonne
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | 1% |
| Mandi | 1% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
Plates
Grade A
8x1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
Plates
GRADE B
12-20x2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | -1% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 0% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Ludhiana | 0% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on 26th October as compared to 19th October 2012
Change is per tonne
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 26th October as compared to 19th October 2012
Change is per tonne
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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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