The long awaited outburst in long product market came to pass on 10th December. Post festivities the market never saw light of the day on anticipated lines as the price levels undulated within a low band bellying hopes of revival.
The morass was so deep that even the concurrent revival in international levels by USD 50 per tonne to USD 70 per tonne in scrap and billet prices left the Indian shores untouched.
Demand remaining low the re rollers took the brunt with closures at large as the cost pressure became burgeoning. Reality sector being the precursor of retail demand never stopped sulking, off late punctured by constricted liquidity post scam.
The pessimistic paradigm still remaining unchanged today’s flurry can be christened borne out of desperation rather than demand pull. The transitory compulsions can be enumerated as follows
1. Hike in raw material prices, scrap, coke and iron ore
2. Low stock levels generating disguised demand
On the other hand, Indian steel companies are likely to increase product prices by more than INR 1,500 per tonne from January 1, driven by a recent rise in coal and iron ore costs and also due to the firming up of international steel prices on the back of a recovery in China.
The Indian Long Product Price Index ILPPI went up by 9 points last week whereas Indian Flat Products Index IFPPI also up by 31 points. The overall price index INDSPI inclined by 19 points.
| Class | 03-Dec | 10-Dec | Change | % |
| ILPPI | 7076 | 7084 | 9 | 0.1% |
| IFPPI | 7707 | 7738 | 31 | 0.4% |
| INDSPI | 7377 | 7396 | 19 | 0.3% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 03-Dec | 10-Dec | Change | % |
| PI - TMT | 7006 | 7037 | 31 | 0.4% |
| PI - WRC | 7311 | 7296 | -16 | -0.2% |
| PI - Angle | 6864 | 6877 | 13 | 0.2% |
| PI - Channel | 6930 | 6946 | 17 | 0.2% |
| PI - Joist | 6489 | 6498 | 8 | 0.1% |
PI - Product Index
Flat products
| Category | 03-Dec | 10-Dec | Change | % |
| PI - Narrow Plates | 7197 | 7221 | 24 | 0.3% |
| PI - Wide Plates | 7619 | 7639 | 20 | 0.3% |
| PI - Hot Rolled | 7366 | 7410 | 44 | 0.6% |
| PI - Cold Rolled | 8772 | 8795 | 23 | 0.3% |
| PI - Galvanized | 8318 | 8311 | -7 | -0.1% |
PI - Product Index
These indices have base of 10,000 as on July 1st 2008
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On the hindsight project demand is steady guzzling supplies from majors who have been effectively managing their inventory fine tuning between demand and capital repair.
It won’t be disharmonious to conclude that the bang might yet again peter out in whimper if there is no perceptible change in demand. It would be prudent to monitor the movements over week before giving a verdict.
1. Input material
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | 0% |
| Hyderabad | 3% |
| Kandla | 3% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mandi | 1% |
| Mumbai | 1% |
| Rudrapur | 1% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 1% |
| Ships | Mixed | 2% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 0% |
| Alang | 1% |
| Bhiwari | 1% |
| Chennai | 0% |
| Durgapur | 0% |
| Ghaziabad | 2% |
| Hyderabad | 3% |
| Jaipur | 1% |
| Jamshedpur | 1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 2% |
| Mumbai | 1% |
| Muzzafarnagar | 1% |
| Nagpur | 0% |
| Raigarh | 0% |
| Raipur | 0% |
| Rourkela | 1% |
| Rudrapur | 1% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
Sponge iron
| Location | Change |
| Bellary | 0% |
| Kolkata | 1% |
| Raigarh | 2% |
| Raipur | 0% |
| Rourkela | 1% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | -1% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | 3% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | -2% |
| Mumbai | 1% |
| Muzaffarnagar | 0% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Raipur | -1% |
| Rudrapur | -1% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 1% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | -1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 1% |
| Raipur | -1% |
| Rudrapur | 1% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 1% |
| Raipur | -1% |
| Rudrapur | 1% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mumbai | 1% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
Patra
| Location | Change |
| Delhi | 3% |
| Ludhiana | 1% |
| Mandi | 1% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 2% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Kanpur | -1% |
| Kolkata | 1% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | -1% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | 1% |
| Ludhiana | 0% |
| Kanpur | -1% |
| Rudrapur | -1% |
| Bangalore | 0% |
Change is on Dec 10th 2010 as compared to Dec 3rd 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Ludhiana | 0% |
| Rudrapur | -1% |
Change is on Dec 10th 2010 as compared to Dec 3rd 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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