The long product prices continued its onward journey last week. Prices of various input materials as well as finished long products have surged by almost 10% since December beginning. This is a repeat of December 2009 to some extant, when prices had surged abnormally, by almost 23%, only to correct in January.
The fear of paying higher prices in January 2011 among buyers and stockiest led to releasing their demand for January also thus creating a sever push on supply side, which led to this surge
While some of the Indian steel majors have hiked their prices of long products in last 15 days, further hike is expected on week opening to catch up with market prices.
But correction in prices of long products market in India which is saddled by huge over capacity is just a matter of time and it would be interesting to watch when the correction starts
The flat steel product market has been the happening place over the last week. The spark was provided by the mid month price correction by INR 500 per tonne to INR 750 per tonne in anticipation of firming sentiments in domestic market and an attempt to bridge the gap between import offers and domestic levels.
However this booster had at the best dripping effect immediately. In the last 1 week the sudden spurt in buying has more of a speculative tenor as the stockiest and traders make beeline to pile stock before an inevitable price hike in January by the steel majors. It is prevalently anticipated that the prices of flat products will go up by at least INR 500 per tonne to INR 1000 per tonne come January.
But the moorings are favorable for at least January as the international prices have remained firm. Moreover the consumption from the white good segment will pick up soon as manufacturing and stocking picks up as a prelude of summer just before the budget.
The Indian Long Product Price Index ILPPI went up by 150 points last week whereas Indian Flat Products Index IFPPI also up by 62 points. The overall price index INDSPI inclined by 108 points.
| Class | 24-Dec | 31-Dec | Change | % |
| ILPPI | 7406 | 7555 | 150 | 2.0% |
| IFPPI | 7898 | 7960 | 62 | 0.8% |
| INDSPI | 7640 | 7748 | 108 | 1.4% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 24-Dec | 31-Dec | Change | % |
| PI - TMT | 7361 | 7490 | 129 | 1.7% |
| PI - WRC | 7635 | 7797 | 161 | 2.1% |
| PI - Angle | 7168 | 7322 | 154 | 2.1% |
| PI - Channel | 7231 | 7389 | 158 | 2.2% |
| PI - Joist | 6769 | 6957 | 189 | 2.8% |
PI - Product Index
Flat products
| Category | 24-Dec | 31-Dec | Change | % |
| PI - Narrow Plates | 7398 | 7467 | 69 | 0.9% |
| PI - Wide Plates | 7781 | 7826 | 45 | 0.6% |
| PI - Hot Rolled | 7581 | 7652 | 71 | 0.9% |
| PI - Cold Rolled | 8910 | 8971 | 61 | 0.7% |
| PI - Galvanized | 8488 | 8516 | 28 | 0.3% |
PI - Product Index
These indices have base of 10,000 as on July 1st 2008
To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html
To download a presentation please paste this link in your browser
http://www.steelprices-india.com/uploads/Steel_Price_Index_Presentation.ppt
You can now get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at
http://steelprices-india.com/smsalert
1. Input material
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | 1% |
| Hyderabad | 0% |
| Kandla | 8% |
| Kanpur | 5% |
| Kolkata | 0% |
| Mandi | 3% |
| Mumbai | 1% |
| Rudrapur | 6% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 4% |
| Ships | Mixed | 5% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
Pencil ingot
| Location | Change |
| Ahmedabad | 3% |
| Alang | 3% |
| Bhiwari | 4% |
| Chennai | 1% |
| Durgapur | 3% |
| Ghaziabad | 4% |
| Hyderabad | 1% |
| Jaipur | 5% |
| Jamshedpur | 5% |
| Kanpur | 3% |
| Kolkata | 3% |
| Mandi | 2% |
| Mumbai | 2% |
| Muzzafarnagar | 6% |
| Nagpur | 5% |
| Raigarh | 4% |
| Raipur | 4% |
| Rourkela | 4% |
| Rudrapur | 3% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
Pig Iron
| Location | Change |
| Agra | 2% |
| Jallandhar | 1% |
| Kolkata | 3% |
| Raipur | 3% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
Sponge iron
| Location | Change |
| Bellary | 1% |
| Kolkata | 3% |
| Raigarh | 6% |
| Raipur | 4% |
| Rourkela | 5% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 3% |
| Bangalore | 0% |
| Chennai | 3% |
| Delhi | 4% |
| Indore | 4% |
| Kanpur | 4% |
| Kolkata | -1% |
| Mandi | 1% |
| Mumbai | 2% |
| Muzaffarnagar | 6% |
| Raipur | 3% |
| Rudrapur | 4% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 1% |
| Delhi | 0% |
| Kanpur | 4% |
| Kolkata | 3% |
| Raipur | 3% |
| Rudrapur | 5% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 3% |
| Bangalore | 1% |
| Chennai | 4% |
| Delhi | 0% |
| Indore | 3% |
| Kanpur | 3% |
| Kolkata | 2% |
| Mandi | 1% |
| Mumbai | 2% |
| Raipur | 3% |
| Rudrapur | 3% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 3% |
| Bangalore | 1% |
| Chennai | 4% |
| Delhi | 0% |
| Indore | 3% |
| Kanpur | 3% |
| Kolkata | 2% |
| Mandi | 1% |
| Mumbai | 2% |
| Raipur | 3% |
| Rudrapur | 3% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 4% |
| Bangalore | 3% |
| Chennai | 4% |
| Delhi | 0% |
| Indore | 3% |
| Kanpur | 5% |
| Kolkata | 3% |
| Mandi | 1% |
| Mumbai | 2% |
| Raipur | 3% |
| Rudrapur | 5% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 4% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 1% |
| Indore | 1% |
| Kolkata | -1% |
| Ludhiana | 3% |
| Mumbai | 0% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
Patra
| Location | Change |
| Delhi | 1% |
| Ludhiana | 0% |
| Mandi | 1% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 3% |
| Delhi | 1% |
| Kanpur | 2% |
| Kolkata | -1% |
| Mumbai | 0% |
| Rudrapur | 2% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 3% |
| Delhi | 1% |
| Indore | 0% |
| Kanpur | 2% |
| Kolkata | -1% |
| Mumbai | 0% |
| Raipur | 1% |
| Rudrapur | 3% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 1% |
| Chennai | 0% |
| Delhi | 2% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | 2% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
GP
100Gms
0.4
| Location | Change |
| Mumbai | -1% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Ludhiana | 2% |
| Kanpur | 2% |
| Rudrapur | 2% |
| Bangalore | 0% |
Change is on Dec 31st 2010 as compared to Dec 24th 2010
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mumbai | 0% |
| Ludhiana | 2% |
| Rudrapur | 2% |
Change is on Dec 31st 2010 as compared to Dec 24th 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
| Currency | Single | 2-5 | 6-12 | 13-25 | 26-40 | 40-60 |
| INR | 66,000 | 132,000 | 220,000 | 440,000 | 660,000 | 880,000 |
| USD | 1,650 | 3,300 | 5,500 | 11,000 | 16,500 | 22,000 |
How to subscribe
1. Register at www.steelprices-india.com and pay on line or ask for invoice
2. Send mail to admin@steelprices-india.com.
3. Call at 0091-124-3007891/2/3
(Sourced from www.steelprices-india.com)
