The long product market in India has awe struck operators with a mesmerizing ascendancy over the week. Although it has an inklings of nostalgia as December 2009 witnessed a similar paradigm.
Happening of this blitz was not surprising but its suddenness and quantum is perplexing everybody. A whopping up to INR 1600 and INR 2300 per tonne gain in pencil ingot and TMT prices has dazed the market and the wave continues unabated with reinforced intensity.
Construction activity is deemed to have picked. However it was speculation which provided extra sheen. The reasons not far to find where as follows
1. Shortage of sponge iron and scrap
2. Hike in International scrap prices touching a mind boggling USD 440 per tonne to USD 450 per tonne CNF Indian port
3. Stock depletion with steel majors leaving a scent with secondary players to hike prices
4. Expected hike in prices by steel majors in January setting the tone for stockpiling before the year end holidays.
5. Closure of rolling mills leading to shortage of supply.
The crescendo has prompted some steel manufacturers to strike midway price revision as follows:
| Product | Change |
| TMT | 500 |
| WRC | 2000 |
| Light Sections | 1500 |
Increase in INR per tonne
The flat product market in India has been reeling under depression for the past 3 months. Regardless of all factors ranging from stock depletion, seasonality to international levels etc the tenor has been mellowed. However recently it seems turnaround must be just round the corner owing to the following
1. International price levels have appreciated by nearly USD 50 per tonne to USD60 per tonne leaving scope for domestic mills to increase prices.
2. Import levels being exorbitant the inflow has dried up leaving a veritable ground for mills to make merry.
3. With the closure of one Indian mill of about 250000 tonnes of flat products has been withdrawn from the market leading to supply shortage
4. Prolonged absence of buying has led to stock depletion
We opine on the eve of Xmas and New Year Holiday flat product market might get that touch of glow which has been eluding it for some time.
The Indian Long Product Price Index ILPPI went up by 182 points last week whereas Indian Flat Products Index IFPPI also up by 67 points. The overall price index INDSPI inclined by 127 points.
| Class | 10-Dec | 17-Dec | Change | % |
| ILPPI | 7084 | 7267 | 182 | 2.6% |
| IFPPI | 7738 | 7805 | 67 | 0.9% |
| INDSPI | 7396 | 7523 | 127 | 1.7% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
| Category | 10-Dec | 17-Dec | Change | % |
| PI - TMT | 7037 | 7264 | 227 | 3.2% |
| PI - WRC | 7296 | 7433 | 138 | 1.9% |
| PI - Angle | 6877 | 7061 | 184 | 2.7% |
| PI - Channel | 6946 | 7123 | 176 | 2.5% |
| PI - Joist | 6498 | 6683 | 186 | 2.9% |
Long Products
PI - Product Index
| Category | 10-Dec | 17-Dec | Change | % |
| PI - Narrow Plates | 7221 | 7302 | 81 | 1.1% |
| PI - Wide Plates | 7639 | 7714 | 76 | 1.0% |
| PI - Hot Rolled | 7410 | 7481 | 71 | 1.0% |
| PI - Cold Rolled | 8795 | 8851 | 56 | 0.6% |
| PI - Galvanized | 8311 | 8349 | 39 | 0.5% |
Flat products
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 | 2% |
| Hyderabad | 0% |
| Kandla | 1% |
| Kanpur | 4% |
| Kolkata | 11% |
| Mandi | 3% |
| Mumbai | 2% |
| Rudrapur | 2% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 4% |
| Ships | Mixed | 4% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 5% |
| Alang | 5% |
| Bhiwari | 3% |
| Chennai | 2% |
| Durgapur | 4% |
| Ghaziabad | 3% |
| Hyderabad | 0% |
| Jaipur | 5% |
| Jamshedpur | 3% |
| Kanpur | 6% |
| Kolkata | 4% |
| Mandi | 3% |
| Mumbai | 6% |
| Muzzafarnagar | 3% |
| Nagpur | 5% |
| Raigarh | 5% |
| Raipur | 5% |
| Rourkela | 5% |
| Rudrapur | 6% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
Sponge iron
| Location | Change |
| Bellary | 4% |
| Kolkata | 3% |
| Raigarh | 5% |
| Raipur | 5% |
| Rourkela | 6% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 3% |
| Bangalore | 7% |
| Chennai | 3% |
| Delhi | 5% |
| Indore | 5% |
| Kanpur | 4% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 5% |
| Muzaffarnagar | 5% |
| Raipur | 3% |
| Rudrapur | 4% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 1% |
| Delhi | 1% |
| Kanpur | 4% |
| Kolkata | -1% |
| Raipur | 3% |
| Rudrapur | 3% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 4% |
| Bangalore | 5% |
| Chennai | 3% |
| Delhi | 3% |
| Indore | 6% |
| Kanpur | 3% |
| Kolkata | -2% |
| Mandi | 1% |
| Mumbai | 5% |
| Raipur | 4% |
| Rudrapur | 4% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 4% |
| Bangalore | 5% |
| Chennai | 1% |
| Delhi | 3% |
| Indore | 6% |
| Kanpur | 3% |
| Kolkata | -1% |
| Mandi | 1% |
| Mumbai | 5% |
| Raipur | 3% |
| Rudrapur | 4% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 4% |
| Bangalore | 4% |
| Chennai | 2% |
| Delhi | 3% |
| Indore | 3% |
| Kanpur | 3% |
| Kolkata | 3% |
| Mandi | 1% |
| Mumbai | 5% |
| Raipur | 2% |
| Rudrapur | 3% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | 1% |
| Kolkata | 0% |
| Ludhiana | 1% |
| Mumbai | 4% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
Patra
| Location | Change |
| Delhi | 3% |
| Ludhiana | 1% |
| Mandi | 1% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 2% |
| Delhi | 2% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mumbai | 1% |
| Rudrapur | 0% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 2% |
| Delhi | 2% |
| Indore | 0% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mumbai | 3% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 1% |
| Delhi | 1% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mumbai | 1% |
| Pune | 1% |
| Rudrapur | 2% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 1% |
| Kolkata | 0% |
| Delhi | 1% |
| Ludhiana | 0% |
| Kanpur | 1% |
| Rudrapur | 1% |
| Bangalore | 0% |
Change is on Dec 17th 2010 as compared to Dec 10th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mumbai | 1% |
| Ludhiana | 0% |
| Rudrapur | 0% |
Change is on Dec 17th 2010 as compared to Dec 10th 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.
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