The much awaited long product price revival eluded Indian market. It was widely expected that with the culmination of Diwali and Chaath festivals demand will unleash as the activity picks up. However with over a week gone by the silence is yet to be broken. In a rationale defying movement the prices have plummeted in all the four corners arousing fears of yet another damp squib.
However it would be premature to declare a washout as labour market is yet to attain normalcy after the Chaath Puja. The construction activity yet to kick starts the demand for downstream TMT bars and structural steel remains week. The peculiarity of this trough is that inventory levels with the primary and secondary manufacturers are low. The reasons being capacity rationalization during the painful Q2 leading to closure of smaller units and reported shutdown of BF with of a steel major curtailing supply. At the same time demand remains weak puncturing any price built up.
With the recent flurry in international scrap and billet prices by USD 50 per tonne to USD 60 per tonne and Indian Rupee yielding to USD it might just provide the ignition to the domestic market to spark.
This week will be pivotal in charting the course of long product market. In the eventuality of a cropper it is dreaded that producers would go for reduction in premature reduction in finished prices by INR 500 per tonne to INR 1000 per tonne to sustain.
On the other hand, flat product market in India weakened further due to sluggish demand as well as weakening global sentiments.
The Indian Long Product Price Index ILPPI went down by 10 points last week whereas Indian Flat Products Index IFPPI also went down by 44 points. The overall price index INDSPI declined by 26 points.
| Class | 12-Nov | 19-Nov | Change | % |
| ILPPI | 7085 | 7076 | -10 | -0.1% |
| IFPPI | 7783 | 7739 | -44 | -0.6% |
| INDSPI | 7418 | 7392 | -26 | -0.3% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 12-Nov | 19-Nov | Change | % |
| PI - TMT | 7029 | 7011 | -19 | -0.3% |
| PI - WRC | 7304 | 7310 | 5 | 0.1% |
| PI - Angle | 6902 | 6873 | -29 | -0.4% |
| PI - Channel | 6948 | 6928 | -21 | -0.3% |
| PI - Joist | 6479 | 6467 | -11 | -0.2% |
PI - Product Index
Flat products
| Category | 12-Nov | 19-Nov | Change | % |
| PI - Narrow Plates | 7305 | 7267 | -38 | -0.5% |
| PI - Wide Plates | 7697 | 7673 | -24 | -0.3% |
| PI - Hot Rolled | 7430 | 7394 | -36 | -0.5% |
| PI - Cold Rolled | 8849 | 8794 | -55 | -0.6% |
| PI - Galvanized | 8424 | 8327 | -97 | -1.2% |
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 | 0% |
| Kolkata | 0% |
| Mandi | -1% |
| Mumbai | -1% |
| Rudrapur | 0% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 0% |
| Ships | Mixed | 0% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 0% |
| Alang | 0% |
| Bhiwari | 0% |
| Chennai | 0% |
| Durgapur | 0% |
| Ghaziabad | 0% |
| Hyderabad | 0% |
| Jaipur | 0% |
| Jamshedpur | -1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | -1% |
| Mumbai | -1% |
| Muzzafarnagar | 0% |
| Nagpur | 0% |
| Raigarh | 0% |
| Raipur | 0% |
| Rourkela | 0% |
| Rudrapur | 1% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 1% |
| Kolkata | 1% |
| Raipur | 1% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
Sponge iron
| Location | Change |
| Bellary | 1% |
| Kolkata | -1% |
| Raigarh | -1% |
| Raipur | 1% |
| Rourkela | -2% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 1% |
| Chennai | -1% |
| Delhi | -1% |
| Indore | 1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Muzzafarnagar | 1% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | -2% |
| Delhi | 0% |
| Indore | 1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | -1% |
| Delhi | 0% |
| Indore | 1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | -2% |
| Delhi | 0% |
| Indore | 1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | -1% |
| Raipur | 3% |
| Rudrapur | 0% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | -1% |
| Delhi | 0% |
| Indore | -1% |
| Kolkata | 0% |
| Ludhiana | -2% |
| Mumbai | -1% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | 1% |
| Mandi | 0% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | -3% |
| Rudrapur | -1% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | -3% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | -2% |
| Delhi | -3% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | -1% |
| Pune | -1% |
| Rudrapur | 0% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | -1% |
| Chennai | -1% |
| Kolkata | -2% |
| Delhi | -1% |
| Ludhiana | -1% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Nov 19th 2010 as compared to Nov 12th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | -1% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | -1% |
| Ludhiana | 0% |
| Rudrapur | 0% |
Change is on Nov 19th 2010 as compared to Nov 12th 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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| USD | 1,650 | 3,300 | 5,500 | 11,000 | 16,500 | 22,000 |
How to subscribe
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