The long steel product price festivity continued last week with prices going up by almost 2% WoW, after 2.5% hike in Week 50, bringing total hike in last 15 days close to 15%.
Steel makers have succeeded in creating the hype of price hike in January on the backdrop of higher prices of iron ore and coking coal although it is not too relevant to Indian long product market.
The buyers are in a state of panic running to secure their needs for January to avoid buying at higher prices. This has resulted in market price hike on daily basis.
While some steel majors have already resorted to interim price hikes, others are waiting for start of next month.
The flat product market which had been slumbering for the past quarter seems on the brink of revival. Peculiarly the ignition has been provided by the external factors.
International price levels have appreciated by nearly USD 50 per tonne to USD 60 per tonne leaving scope for domestic mills to increase prices. Import levels being exorbitant the inflow has dried up leaving a veritable ground for mills to make merry.
With the closure of one Indian mill of about 250000 tonnes of flat products has been withdrawn from the market leading to supply shortage
It is learnt that taking a scent some the steel majors have hiked prices of HRC by INR 500 per tonne whereas HDG prices have been increased by INR 750 per tonne. The CRC levels remain untouched as they were already high.
The trader stockiest buying has picked up however the end user has trickling in. The fear factor of stockpiles not being flushed in time leading to backlash of resigned buying leading to market collapse towards mid January is making the buyers circumspect.
The Indian Long Product Price Index ILPPI went up by 139 points last week whereas Indian Flat Products Index IFPPI also up by 92 points. The overall price index INDSPI inclined by 117 points.
| Class | 17-Dec | 24-Dec | Change | % |
| ILPPI | 7267 | 7406 | 139 | 1.9% |
| IFPPI | 7805 | 7898 | 92 | 1.2% |
| INDSPI | 7523 | 7640 | 117 | 1.6% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 17-Dec | 24-Dec | Change | % |
| PI - TMT | 7264 | 7361 | 97 | 1.3% |
| PI - WRC | 7433 | 7635 | 202 | 2.7% |
| PI - Angle | 7061 | 7168 | 107 | 1.5% |
| PI - Channel | 7123 | 7231 | 109 | 1.5% |
| PI - Joist | 6683 | 6769 | 85 | 1.3% |
PI - Product Index
Flat products
| Category | 17-Dec | 24-Dec | Change | % |
| PI - Narrow Plates | 7302 | 7398 | 97 | 1.3% |
| PI - Wide Plates | 7714 | 7781 | 67 | 0.9% |
| PI - Hot Rolled | 7481 | 7581 | 100 | 1.3% |
| PI - Cold Rolled | 8851 | 8910 | 59 | 0.7% |
| PI - Galvanized | 8349 | 8488 | 138 | 1.7% |
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 | 4% |
| Hyderabad | 8% |
| Kandla | -3% |
| Kanpur | 5% |
| Kolkata | 2% |
| Mandi | 1% |
| Mumbai | 1% |
| Rudrapur | 5% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -2% |
| Ships | Mixed | -2% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 0% |
| Alang | 0% |
| Bhiwari | 1% |
| Chennai | 8% |
| Durgapur | 1% |
| Ghaziabad | 1% |
| Hyderabad | 6% |
| Jaipur | 1% |
| Jamshedpur | 1% |
| Kanpur | 4% |
| Kolkata | 3% |
| Mandi | 2% |
| Mumbai | 1% |
| Muzzafarnagar | 1% |
| Nagpur | 0% |
| Raigarh | 0% |
| Raipur | 0% |
| Rourkela | 1% |
| Rudrapur | 4% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 0% |
| Kolkata | -1% |
| Raipur | -1% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
Sponge iron
| Location | Change |
| Bellary | 1% |
| Kolkata | 3% |
| Raigarh | 0% |
| Raipur | 1% |
| Rourkela | 1% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 2% |
| Bangalore | 1% |
| Chennai | 2% |
| Delhi | 2% |
| Indore | 1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 1% |
| Muzaffarnagar | -1% |
| Raipur | 1% |
| Rudrapur | 1% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 7% |
| Delhi | 2% |
| Kanpur | 1% |
| Kolkata | 3% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 1% |
| Chennai | 2% |
| Delhi | 3% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 3% |
| Mandi | 1% |
| Mumbai | 1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 1% |
| Chennai | 2% |
| Delhi | 3% |
| Indore | -1% |
| Kanpur | 1% |
| Kolkata | 3% |
| Mandi | 1% |
| Mumbai | 1% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 1% |
| Delhi | 3% |
| Indore | -1% |
| Kanpur | 1% |
| Kolkata | 3% |
| Mandi | 1% |
| Mumbai | 1% |
| Raipur | 1% |
| Rudrapur | 1% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 3% |
| Chennai | 2% |
| Delhi | 1% |
| Indore | 1% |
| Kolkata | 1% |
| Ludhiana | 2% |
| Mumbai | 3% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
Patra
| Location | Change |
| Delhi | 4% |
| Ludhiana | 0% |
| Mandi | 1% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 2% |
| Delhi | 1% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mumbai | 4% |
| Rudrapur | 1% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 2% |
| Delhi | 1% |
| Indore | 0% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mumbai | 3% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 2% |
| Delhi | 2% |
| Kanpur | 1% |
| Kolkata | -1% |
| Mumbai | 2% |
| Pune | 2% |
| Rudrapur | 1% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | 5% |
| Chennai | 1% |
| Kolkata | 0% |
| Delhi | 2% |
| Ludhiana | 2% |
| Kanpur | 1% |
| Rudrapur | 1% |
| Bangalore | 0% |
Change is on Dec 24th 2010 as compared to Dec 17th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 1% |
| Delhi | 1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mumbai | 3% |
| Ludhiana | 1% |
| Rudrapur | 1% |
Change is on Dec 24th 2010 as compared to Dec 17th 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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