Indian long product market seemingly in unison with the Chinese price levels lost 1% midway through the post Diwali week. The impact was particularly strong in the scrap, ingot and TMT bars indicating a cascading effect. As the global scrap levels remains strong during winter and Turkish buying movement is backlash of poor off take of TMT and other finished products.
Lack of new projects and tight credit remained handicaps in an expectant market. Buyers risk aversion was evident with political uncertainty over reform initiatives getting through the winter session.
Q3 is typically kindles demand, hence all is not ruled out as yet. Next week will be pivotal in determining the course of market with labor force returning back after the Chaath festival.
Some despondency is certain to recede in the coming weeks more so with pick up in re-construction after the devastation by storm in South.
The Indian Long Product Price Index ILPPI has gone down by 97 points last week whereas Indian Flat Products Index IFPPI has also gone down by 43 points. The overall price index INDSPI declined by 71 points.
| Class | 16-Nov | 23-Nov | Change | % |
| ILPPI | 8968 | 8871 | -97 | -1.1% |
| IFPPI | 8654 | 8611 | -43 | -0.5% |
| INDSPI | 8818 | 8747 | -71 | -0.8% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 16-Nov | 23-Nov | Change | % |
| PI - TMT | 9211 | 9148 | -63 | -0.7% |
| PI - WRC | 9083 | 8954 | -129 | -1.4% |
| PI - Angle | 8470 | 8362 | -108 | -1.3% |
| PI - Channel | 8555 | 8462 | -93 | -1.1% |
| PI - Joist | 7838 | 7738 | -100 | -1.3% |
PI - Product Index
Flat products
| Category | 16-Nov | 23-Nov | Change | % |
| PI - Narrow Plates | 8218 | 8187 | -31 | -0.4% |
| PI - Wide Plates | 8586 | 8532 | -54 | -0.6% |
| PI - Hot Rolled | 8428 | 8370 | -58 | -0.7% |
| PI - Cold Rolled | 9409 | 9401 | -8 | -0.1% |
| PI - Galvanized | 9086 | 9067 | -19 | -0.2% |
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 |
| Bangalore | 0% |
| Chennai | 0% |
| Hyderabad | 0% |
| Kandla | -1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Ludhiana | -2% |
| Mandi | -3% |
| Mumbai | -3% |
| Rudrapur | -1% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -2.5% |
| Ships | Mixed | 0.4% |
Change is on 23rd November as compared to 16th November 2012
Pencil ingot
| Location | Change |
| Ahmedabad | -2% |
| Alang | -2% |
| Bhiwari | 0% |
| Chennai | 0% |
| Durgapur | -1% |
| Ghaziabad | -1% |
| Hyderabad | -3% |
| Jaipur | -1% |
| Jamshedpur | 0% |
| Kanpur | -1% |
| Kolkata | -1% |
| Ludhiana | -3% |
| Mandi | -2% |
| Mumbai | -1% |
| Muzaffarnagar | 0% |
| Nagpur | 0% |
| Raigarh | -1% |
| Raipur | -2% |
| Rourkela | -1% |
| Rudrapur | -1% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Ludhiana | -1% |
| Raipur | 0% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
Sponge iron
| Location | Change |
| Bellary | -2% |
| Kolkata | -2% |
| Ludhiana | -1% |
| Raigarh | -1% |
| Raipur | -3% |
| Rourkela | -2% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | -2% |
| Kanpur | -1% |
| Kolkata | 0% |
| Ludhiana | -2% |
| Mandi | -2% |
| Mumbai | -1% |
| Muzaffarnagar | -1% |
| Raipur | -5% |
| Rudrapur | -1% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | -2% |
| Kanpur | -2% |
| Kolkata | -2% |
| Raipur | -2% |
| Rudrapur | -2% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
ANGL
Grade A
65x65x6
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -2% |
| Indore | -2% |
| Kanpur | -1% |
| Kolkata | -2% |
| Ludhiana | -1% |
| Mandi | -3% |
| Mumbai | -1% |
| Raipur | -2% |
| Rudrapur | -1% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -2% |
| Indore | -2% |
| Kanpur | -1% |
| Kolkata | -2% |
| Ludhiana | 0% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | -2% |
| Rudrapur | -1% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
JSTI
Grade A
250x125
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -2% |
| Indore | -2% |
| Kanpur | -1% |
| Kolkata | -4% |
| Ludhiana | 0% |
| Mandi | -1% |
| Mumbai | -1% |
| Raipur | -2% |
| Rudrapur | -2% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kolkata | -1% |
| Ludhiana | 0% |
| Mumbai | 0% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
Patra
| Location | Change |
| Delhi | -2% |
| Ludhiana | -1% |
| Mandi | -2% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
Plates
Grade A
8x1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
Plates
GRADE B
12-20x2500
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Indore | 0% |
| Kanpur | -1% |
| Kolkata | -1% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | -1% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | -1% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | -1% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | -1% |
| Delhi | 0% |
| Ludhiana | -1% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on 23rd November as compared to 16th November 2012
Change is per tonne
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 0% |
| Ludhiana | -1% |
| Rudrapur | 0% |
Change is on 23rd November as compared to 16th November 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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