The domestic steel market still plagued by iron ore mess, weakening demand but supported by weakening INR to USD, continued to defy the global trends last week by exhibiting stability for flat products.
But the sluggish demand for long products became visible as the prices lost some momentum last week. The prices of input materials also weakened despite the tightness on iron ore.
But, November might prove to be the penultimate month before the depressive flue catches Indian market. The HRC prices having plummeted by a whopping USD 90 per tonne has frozen the Black Sea and Chinese sea but it is likely to enliven competition in India. Hitherto Indian market has been lackluster during this period but the Indian mills have been insulated from the import onslaught owing to nearly 13% depreciation in Indian Rupee since June. In fact sense of security was so predominant that mills could dare to increase prices by INR 1000 per tonne to INR 1500 per tonne in October. It is learnt that offers from China at USD 635 per tonne are evoking trader’s interest at Mumbai. Over the past 1 month reportedly large quantity of HRC has been booked. With imported material likely to available at INR 34500 per tonne plus taxes the parity is heavily loaded in favor of imports now.
The Indian Long Product Price Index ILPPI has gone down with 51 points last week whereas Indian Flat Products Index IFPPI has also gone up by 9 points. The overall price index INDSPI declined by 22 points.
| Class | 04-Nov | 11-Nov | Change | % |
| ILPPI | 8789 | 8738 | -51 | -0.6% |
| IFPPI | 8928 | 8937 | 9 | 0.1% |
| INDSPI | 8855 | 8833 | -22 | -0.3% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 04-Nov | 11-Nov | Change | % |
| PI - TMT | 8852 | 8770 | -82 | -0.9% |
| PI - WRC | 9052 | 9023 | -29 | -0.3% |
| PI - Angle | 8317 | 8263 | -54 | -0.6% |
| PI - Channel | 8462 | 8423 | -39 | -0.5% |
| PI - Joist | 7737 | 7726 | -11 | -0.1% |
PI - Product Index
Flat products
| Category | 04-Nov | 11-Nov | Change | % |
| PI - Narrow Plates | 8427 | 8419 | -8 | -0.1% |
| PI - Wide Plates | 8766 | 8781 | 15 | 0.2% |
| PI - Hot Rolled | 8718 | 8751 | 33 | 0.4% |
| PI - Cold Rolled | 9692 | 9688 | -4 | 0.0% |
| PI - Galvanized | 9447 | 9351 | -96 | -1.0% |
PI - Product Index
These indices have base of 10,000 as on July 1st 2008
To know more about these indices please visit
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You can now get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at
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1. Input material
Melting scrap
80:20
HMS
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Hyderabad | 0% |
| Kandla | -3% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | -4% |
| Mumbai | -3% |
| Rudrapur | 0% |
Change is on Nov 11th as compared to 4th Nov 2011
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 0% |
| Ships | Mixed | 1% |
Change is on Nov 11th as compared to 4th Nov 2011
Pencil ingot
| Location | Change |
| Ahmedabad | 1% |
| Alang | 0% |
| Bhiwari | 0% |
| Chennai | 0% |
| Durgapur | -2% |
| Ghaziabad | -2% |
| Hyderabad | 1% |
| Jaipur | -1% |
| Jamshedpur | 0% |
| Kanpur | -1% |
| Kolkata | -2% |
| Ludhiana | -1% |
| Mandi | -1% |
| Mumbai | -1% |
| Muzzafarnagar | -1% |
| Nagpur | -2% |
| Raigarh | -4% |
| Raipur | -4% |
| Rourkela | 0% |
| Rudrapur | 0% |
Change is on Nov 11th as compared to 4th Nov 2011
Pig Iron
| Location | Change |
| Agra | 2% |
| Jallandhar | 1% |
| Kolkata | 2% |
| Ludhiana | -2% |
| Raipur | 2% |
Change is on Nov 11th as compared to 4th Nov 2011
Sponge iron
| Location | Change |
| Bellary | 0% |
| Kolkata | 0% |
| Ludhiana | 2% |
| Raigarh | -2% |
| Raipur | -3% |
| Rourkela | -1% |
Change is on Nov 11th as compared to 4th Nov 2011
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | -3% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | -1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Ludhiana | 2% |
| Mandi | 1% |
| Mumbai | -1% |
| Muzzafarnagar | -1% |
| Raipur | 0% |
| Rudrapur | -1% |
Change is on Nov 11th as compared to 4th Nov 2011
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | -2% |
| Kolkata | 0% |
| Raipur | 0% |
| Rudrapur | -1% |
Change is on Nov 11th as compared to 4th Nov 2011
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | -2% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -1% |
| Kanpur | -2% |
| Kolkata | 0% |
| Ludhiana | 2% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | -2% |
Change is on Nov 11th as compared to 4th Nov 2011
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | -3% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | -1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | -1% |
Change is on Nov 11th as compared to 4th Nov 2011
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Nov 11th as compared to 4th Nov 2011
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | -1% |
| Kolkata | 1% |
| Ludhiana | -1% |
| Mumbai | 0% |
Change is on Nov 11th as compared to 4th Nov 2011
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | -1% |
| Mandi | -1% |
Change is on Nov 11th as compared to 4th Nov 2011
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 2% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Rudrapur | 1% |
Change is on Nov 11th as compared to 4th Nov 2011
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | -1% |
| Chennai | 0% |
| Delhi | 3% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Nov 11th as compared to 4th Nov 2011
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | -1% |
| Chennai | 0% |
| Delhi | 2% |
| Kanpur | 0% |
| Kolkata | 1% |
| Ludhiana | 0% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 1% |
Change is on Nov 11th as compared to 4th Nov 2011
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | -3% |
| Ludhiana | -1% |
| Kanpur | 0% |
| Rudrapur | 1% |
| Bangalore | -2% |
Change is on Nov 11th as compared to 4th Nov 2011
GC
100Gms
0.4
| Location | Change |
| Bangalore | 2% |
| Chennai | 0% |
| Delhi | -3% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Ludhiana | -1% |
| Rudrapur | 1% |
Change is on Nov 11th as compared to 4th Nov 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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