Long steel product prices in India have silently but surely exhibited resilience during last week. Sudden built up does not have roots in any radical change in fundamentals.
Long steel prices in India have been experiencing a gentle breather over the last couple of days. A mild spike in pencil ingot and secluded rally in TMT have warmed the proceedings. Devoid of any change in demand and buying the temperament has cost push factors. The ensuing perceived shortage of raw material viz., scrap and pencil ingot has tipped the prices in other regions as well. Market has become highly sensitive to speculation and perceptions in demand deprived state.
On the other hand, Indian mills opted for an unexpected roll over for flat products in December much to the surprise of beleaguered market replete with rumors of reduction as the international steel prices have submerged to abysmal depths symptomatic of the pandemic European debt crisis. An equally rollicking US Dollar had enlivened aspirations of the Indian mills to fend off import onslaught. However the gargantuan relentless collapse in long and flat international prices clipped the wings.
Avalanche of booking culminating in a deluge of material touching Indian shores certainly made the Indian mills panicky. However a slothful domestic demand would not have made much difference to the fortunes of steel mills even with a price reduction.
The Indian Long Product Price Index ILPPI has gone up by 45 points last week whereas Indian Flat Products Index IFPPI has also gone up by 36 points. The overall price index INDSPI declined by 41 points.
| Class | 02-Dec | 09-Dec | Change | % |
| ILPPI | 8723 | 8768 | 45 | 0.5% |
| IFPPI | 8789 | 8825 | 36 | 0.4% |
| INDSPI | 8754 | 8795 | 41 | 0.5% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 02-Dec | 09-Dec | Change | % |
| PI - TMT | 8731 | 8802 | 71 | 0.8% |
| PI - WRC | 9015 | 9038 | 23 | 0.3% |
| PI - Angle | 8282 | 8335 | 53 | 0.6% |
| PI - Channel | 8443 | 8476 | 33 | 0.4% |
| PI - Joist | 7734 | 7767 | 33 | 0.4% |
PI - Product Index
Flat products
| Category | 02-Dec | 09-Dec | Change | % |
| PI - Narrow Plates | 8335 | 8368 | 33 | 0.4% |
| PI - Wide Plates | 8739 | 8760 | 21 | 0.2% |
| PI - Hot Rolled | 8577 | 8624 | 47 | 0.5% |
| PI - Cold Rolled | 9522 | 9547 | 25 | 0.3% |
| PI - Galvanized | 9180 | 9194 | 14 | 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 | 0% |
| Kanpur | -1% |
| Kolkata | 0% |
| Ludhiana | 2% |
| Mandi | 2% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on Dec 9th as compared to 2nd Dec 2011
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 0% |
| Ships | Mixed | 0% |
Change is on Dec 9th as compared to 2nd Dec 2011
Pencil ingot
| Location | Change |
| Ahmedabad | 2% |
| Alang | 2% |
| Bhiwari | 0% |
| Chennai | 0% |
| Durgapur | 2% |
| Ghaziabad | 4% |
| Hyderabad | 0% |
| Jaipur | 3% |
| Jamshedpur | -1% |
| Kanpur | 0% |
| Kolkata | 2% |
| Ludhiana | 2% |
| Mandi | 2% |
| Mumbai | 0% |
| Muzaffarnagar | 3% |
| Nagpur | 1% |
| Raigarh | 2% |
| Raipur | 1% |
| Rourkela | -1% |
| Rudrapur | 1% |
Change is on Dec 9th as compared to 2nd Dec 2011
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Raipur | 0% |
Change is on Dec 9th as compared to 2nd Dec 2011
Sponge iron
| Location | Change |
| Bellary | 0% |
| Kolkata | 0% |
| Ludhiana | 1% |
| Raigarh | 0% |
| Raipur | 0% |
| Rourkela | 1% |
Change is on Dec 9th as compared to 2nd Dec 2011
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Dec 9th as compared to 2nd Dec 2011
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Dec 9th as compared to 2nd Dec 2011
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | 1% |
| Kanpur | 1% |
| Kolkata | 1% |
| Ludhiana | 2% |
| Mandi | 3% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Dec 9th as compared to 2nd Dec 2011
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 1% |
| Kanpur | 1% |
| Kolkata | 1% |
| Ludhiana | 0% |
| Mandi | 1% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Dec 9th as compared to 2nd Dec 2011
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 1% |
| Kolkata | 0% |
| Ludhiana | 1% |
| Mandi | 1% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Dec 9th as compared to 2nd Dec 2011
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kolkata | 1% |
| Ludhiana | 1% |
| Mumbai | 0% |
Change is on Dec 9th as compared to 2nd Dec 2011
Patra
| Location | Change |
| Delhi | 1% |
| Ludhiana | 1% |
| Mandi | 3% |
Change is on Dec 9th as compared to 2nd Dec 2011
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on Dec 9th as compared to 2nd Dec 2011
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Dec 9th as compared to 2nd Dec 2011
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Ludhiana | 0% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 0% |
Change is on Dec 9th as compared to 2nd Dec 2011
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | 1% |
| Delhi | 0% |
| Ludhiana | 0% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Nov 25th as compared to 18th Nov 2011
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Ludhiana | 1% |
| Rudrapur | 0% |
Change is on Dec 9th as compared to 2nd Dec 2011
If volatility in steel prices is affecting your business, keep tab on market realities and trends by subscribing to www.steelprices-india.com, which 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.
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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