With the culmination of the on going festive season on November 13th 2010, the Indian steel market or long products is agog with an imminent revival. The reverberations of turnaround are being felt in the last couple of weeks with price undulations in pencil ingot and rebar in a hitherto sullen marketplace.
Although the market has been flat for the past 3 weeks owing to string of festivals starting from Diwali and culminating in Chaath, there have been undercurrents of demand picking up in construction segment post monsoon. The demand from projects which has remained consistent all through continues to be steady. Stockiest and traders are expected to open up as inventories are low.
The recent flurry in input costs spearheaded by handsome rally of nearly USD 50 per tonne to USD 60 per tonne in international scrap and billet prices has put the onus on rerollers to take the charge.
With the labour force trooping back in full force after the festival the setting is complete for a grand revival. However in a low tide economic milieu, speculations become the determinant of sustainability. Hence it is advisable to keep fingers crossed for a fortnight before certifying a definite revival for longs.
ON the other hand, flat product prices remained on back track with weaker global sentiments pushing them down.
The Indian Long Product Price Index ILPPI is went up by 37 points last week whereas Indian Flat Products Index IFPPI went down by 27 points. The overall price index INDSPI inclined by 7 points.
| Class | 04-Nov | 12-Nov | Change | % |
| ILPPI | 7048 | 7085 | 37 | 0.5% |
| IFPPI | 7810 | 7783 | -27 | -0.3% |
| INDSPI | 7411 | 7418 | 7 | 0.1% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 04-Nov | 12-Nov | Change | % |
| PI - TMT | 6990 | 7029 | 40 | 0.6% |
| PI - WRC | 7270 | 7304 | 35 | 0.5% |
| PI - Angle | 6860 | 6902 | 42 | 0.6% |
| PI - Channel | 6902 | 6948 | 46 | 0.7% |
| PI - Joist | 6455 | 6479 | 23 | 0.4% |
PI - Product Index
Flat products
| Category | 04-Nov | 12-Nov | Change | % |
| PI - Narrow Plates | 7298 | 7305 | 7 | 0.1% |
| PI - Wide Plates | 7686 | 7697 | 11 | 0.1% |
| PI - Hot Rolled | 7475 | 7430 | -45 | -0.6% |
| PI - Cold Rolled | 8864 | 8849 | -15 | -0.2% |
| PI - Galvanized | 8452 | 8424 | -28 | -0.3% |
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 | 0% |
| Kanpur | -1% |
| Kolkata | -1% |
| Mandi | 0% |
| Mumbai | 0% |
| Rudrapur | -1% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -1% |
| Ships | Mixed | -1% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | -1% |
| Alang | 0% |
| Bhiwari | -1% |
| Chennai | -1% |
| Durgapur | 0% |
| Ghaziabad | 0% |
| Hyderabad | 3% |
| Jaipur | 0% |
| Jamshedpur | -1% |
| Kanpur | -1% |
| Kolkata | -2% |
| Mandi | 0% |
| Mumbai | 0% |
| Muzzafarnagar | 0% |
| Nagpur | 0% |
| Raigarh | 0% |
| Raipur | 0% |
| Rourkela | 0% |
| Rudrapur | 0% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
Pig Iron
| Location | Change |
| Agra | -4% |
| Jallandhar | -4% |
| Kolkata | -5% |
| Raipur | -5% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
Sponge iron
| Location | Change |
| Bellary | 5% |
| Kolkata | 0% |
| Raigarh | 0% |
| Raipur | -1% |
| Rourkela | -1% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 1% |
| Chennai | 1% |
| Delhi | 2% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mandi | 0% |
| Mumbai | 0% |
| Muzaffarnagar | -1% |
| Raipur | 2% |
| Rudrapur | 0% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | -1% |
| Delhi | 1% |
| Kanpur | 1% |
| Kolkata | -1% |
| Raipur | 2% |
| Rudrapur | 0% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 3% |
| Chennai | 2% |
| Delhi | -1% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mandi | 0% |
| Mumbai | 0% |
| Raipur | 1% |
| Rudrapur | -1% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 3% |
| Chennai | 2% |
| Delhi | -1% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mandi | 0% |
| Mumbai | 0% |
| Raipur | 1% |
| Rudrapur | 0% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | -1% |
| Chennai | 3% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | -2% |
| Kolkata | -1% |
| Mandi | 0% |
| Mumbai | 0% |
| Raipur | 3% |
| Rudrapur | -3% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kolkata | 0% |
| Ludhiana | -2% |
| Mumbai | -2% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
Patra
| Location | Change |
| Delhi | -1% |
| Ludhiana | -1% |
| Mandi | 0% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 2% |
| Delhi | -1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Rudrapur | -2% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 2% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | -3% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | -1% |
| Pune | -2% |
| Rudrapur | -2% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | -1% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Ludhiana | 0% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Nov 12th 2010 as compared to Nov 4th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | -3% |
| Ludhiana | 0% |
| Rudrapur | 0% |
Change is on Nov 12th 2010 as compared to Nov 4th 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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