The trend for long and flat products was diagonally opposite last week, off course on expected lines. While long products lost almost 1.5% flats continued gains by another 1.2%
In case of rebar, the trend was different for larger players and smaller ones. As a result of frenzied buying by mega projects in January, most of the large players did not have enough stocks on the ground and they continued to enjoy increased levels wef February 1st 2011. But, going forward, there price line will inevitably be pressurized as the gap has enlarged substantially, which will weigh heavily in the coming days and the buyers, who had shifted to them would reconsider going back to secondary sources.
On the other hand, smaller rerollers cut their prices relentlessly last week as demand for there segment remained absolutely sluggish and they came under tremendous selling pressure. The price slide in rebars eventually led to price cut in input materials like sponge iron, scrap and pencil ingot as well. Apart from the hackneyed reasons viz, stockpiling, lack of demand, liquidity crisis etc, the plummeting prices has set panic in the market wherein traders stockiest are scurrying to sell immediately thereby minimizing future losses.
On the other hand, Indian flat producers are making merry with, more or less, acceptance of their February hike by buyers. Chinese mills have increased their export offers on opening after New Year creating another window for hike in domestic levels. To top it up, HR and CR price offers at Black Sea last week surged by astronomical quantum of USD 50 per tonne to USD 80 per tonne, which is yet to percolate in higher import offers.
Thus flat product buyers are in peril and should be prepared to face severe volatility till March at least, unless Indian government brings down a heavy hand to contain unabated inflation, especially as the budget session is in offing.
The Indian Long Product Price Index ILPPI has gone down by 117 points last week whereas Indian Flat Products Index IFPPI went up by 105 points. The overall price index INDSPI declined by 11 points.
| Class | 04-Feb | 11-Feb | Change | % |
| ILPPI | 8089 | 7972 | -117 | -1.5% |
| IFPPI | 8987 | 9092 | 105 | 1.2% |
| INDSPI | 8517 | 8505 | -11 | -0.1% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 04-Feb | 11-Feb | Change | % |
| PI - TMT | 7975 | 7777 | -198 | -2.5% |
| PI - WRC | 8369 | 8332 | -36 | -0.4% |
| PI - Angle | 7918 | 7790 | -129 | -1.6% |
| PI - Channel | 7960 | 7806 | -153 | -1.9% |
| PI - Joist | 7454 | 7378 | -77 | -1.0% |
PI - Product Index
Flat products
| Category | 04-Feb | 11-Feb | Change | % |
| PI - Narrow Plates | 8380 | 8421 | 42 | 0.5% |
| PI - Wide Plates | 8655 | 8684 | 29 | 0.3% |
| PI - Hot Rolled | 8771 | 8898 | 128 | 1.5% |
| PI - Cold Rolled | 9852 | 9988 | 135 | 1.4% |
| PI - Galvanized | 9667 | 9744 | 77 | 0.8% |
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 | 0% |
| Hyderabad | -4% |
| Kandla | 1% |
| Kanpur | -1% |
| Kolkata | -3% |
| Mandi | -5% |
| Mumbai | 0% |
| Rudrapur | -1% |
Change is on Feb 11th as compared to 4th Feb 2011
Alang
| Product | Size | Change |
| Plate cuttings | 1" | -4% |
| Ships | Mixed | -5% |
Change is on Feb 11th as compared to 4th Feb 2011
Pencil ingot
| Location | Change |
| Ahmedabad | -3% |
| Alang | -5% |
| Bhiwari | -5% |
| Chennai | 0% |
| Durgapur | -4% |
| Ghaziabad | -5% |
| Hyderabad | -2% |
| Jaipur | -5% |
| Jamshedpur | -4% |
| Kanpur | -2% |
| Kolkata | -2% |
| Mandi | -5% |
| Mumbai | -3% |
| Muzzafarnagar | -4% |
| Nagpur | -4% |
| Raigarh | -5% |
| Raipur | -5% |
| Rourkela | -5% |
| Rudrapur | -2% |
Change is on Feb 11th as compared to 4th Feb 2011
Pig Iron
| Location | Change |
| Agra | -2% |
| Jallandhar | -2% |
| Kolkata | -2% |
| Raipur | -2% |
Change is on Feb 11th as compared to 4th Feb 2011
Sponge iron
| Location | Change |
| Bellary | -5% |
| Kolkata | -5% |
| Raigarh | -5% |
| Raipur | -5% |
| Rourkela | -5% |
Change is on Feb 11th as compared to 4th Feb 2011
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -5% |
| Bangalore | -3% |
| Chennai | 0% |
| Delhi | -4% |
| Indore | -3% |
| Kanpur | -1% |
| Kolkata | -2% |
| Mandi | -3% |
| Mumbai | -3% |
| Muzzafarnagar | -2% |
| Raipur | -1% |
| Rudrapur | -2% |
Change is on Feb 11th as compared to 4th Feb 2011
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 2% |
| Kanpur | 0% |
| Kolkata | -3% |
| Raipur | -1% |
| Rudrapur | -1% |
Change is on Feb 11th as compared to 4th Feb 2011
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | -3% |
| Bangalore | -2% |
| Chennai | -1% |
| Delhi | 2% |
| Indore | -2% |
| Kanpur | -2% |
| Kolkata | -2% |
| Mandi | -3% |
| Mumbai | -3% |
| Raipur | -1% |
| Rudrapur | -1% |
Change is on Feb 11th as compared to 4th Feb 2011
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | -3% |
| Bangalore | -2% |
| Chennai | -3% |
| Delhi | 2% |
| Indore | -2% |
| Kanpur | -1% |
| Kolkata | -2% |
| Mandi | -3% |
| Mumbai | -3% |
| Raipur | -1% |
| Rudrapur | -1% |
Change is on Feb 11th as compared to 4th Feb 2011
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | -1% |
| Delhi | 2% |
| Indore | -2% |
| Kanpur | 0% |
| Kolkata | -2% |
| Mandi | -3% |
| Mumbai | -3% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Feb 11th as compared to 4th Feb 2011
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 2% |
| Indore | 1% |
| Kolkata | 3% |
| Ludhiana | 4% |
| Mumbai | 1% |
Change is on Feb 11th as compared to 4th Feb 2011
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | -2% |
| Mandi | -3% |
Change is on Feb 11th as compared to 4th Feb 2011
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 2% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mumbai | 4% |
| Rudrapur | 1% |
Change is on Feb 11th as compared to 4th Feb 2011
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | -1% |
| Delhi | 2% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | 2% |
| Rudrapur | 0% |
Change is on Feb 11th as compared to 4th Feb 2011
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 2% |
| Kanpur | 0% |
| Kolkata | 3% |
| Mumbai | 1% |
| Pune | 1% |
| Rudrapur | 1% |
Change is on Feb 11th as compared to 4th Feb 2011
GP
100Gms
0.4
| Location | Change |
| Mumbai | 0% |
| Chennai | 0% |
| Kolkata | 3% |
| Delhi | -1% |
| Ludhiana | 2% |
| Kanpur | 1% |
| Rudrapur | 1% |
| Bangalore | 0% |
Change is on Feb 11th as compared to 4th Feb 2011
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 1% |
| Kolkata | 2% |
| Mumbai | 0% |
| Ludhiana | 4% |
| Rudrapur | 1% |
Change is on Feb 11th as compared to 4th Feb 2011
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
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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