The Indian long product market is at cross roads with prices of input materials sponge iron and pencil ingot behaving in erratic manner thus confusing market players about the real direction for rebars and sections.
Even seasoned market players from secondary rolling sector are lamenting that they are fining it difficult to operate as prices are on see saw curve going up on a day and than correcting in next few days.
While, this reflects severe weakness on demand side for rebar and sections, it also points out to increasing speculation. It seems that in absence of demand, secondary rerollers are under pressure to gain volumes by reducing prices thus depressing prices of pencil ingot and sponge iron. But people with high positions are keeping the market firm.
Thus in all likelihood, long product prices will remain on downward trend unless union budget changes the market fundamentals.
On the other hand, flat product market seems to have absorbed the price hike by now with market prices stagnating at higher levels. As the global levels have surged further since February beginning, Indian steel makers are likely to go for further hikes on March opening.
The Indian Long Product Price Index ILPPI continued in downward trends with 17 points last week whereas Indian Flat Products Index IFPPI remained stable. The overall price index INDSPI declined by 9 points.
| Class | 18-Feb | 25-Feb | Change | % |
| ILPPI | 7860 | 7842 | -17 | -0.2% |
| IFPPI | 9024 | 9024 | 0 | 0.0% |
| INDSPI | 8414 | 8405 | -9 | -0.1% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 18-Feb | 25-Feb | Change | % |
| PI - TMT | 7687 | 7668 | -19 | -0.2% |
| PI - WRC | 8196 | 8169 | -27 | -0.3% |
| PI - Angle | 7658 | 7654 | -5 | -0.1% |
| PI - Channel | 7715 | 7714 | -1 | 0.0% |
| PI - Joist | 7276 | 7290 | 14 | 0.2% |
PI - Product Index
Flat products
| Category | 18-Feb | 25-Feb | Change | % |
| PI - Narrow Plates | 8316 | 8281 | -35 | -0.4% |
| PI - Wide Plates | 8632 | 8649 | 18 | 0.2% |
| PI - Hot Rolled | 8798 | 8801 | 3 | 0.0% |
| PI - Cold Rolled | 10021 | 10030 | 9 | 0.1% |
| PI - Galvanized | 9690 | 9670 | -19 | -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 |
| Chennai | 0% |
| Hyderabad | 2% |
| Kandla | 2% |
| Kanpur | -2% |
| Kolkata | 1% |
| Mandi | 3% |
| Mumbai | -1% |
| Rudrapur | -2% |
Change is on Feb 25th as compared to 18th Feb 2011
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 2% |
| Ships | Mixed | 1% |
Change is on Feb 25th as compared to 18th Feb 2011
Pencil ingot
| Location | Change |
| Ahmedabad | -1% |
| Alang | 0% |
| Bhiwari | 0% |
| Chennai | 0% |
| Durgapur | 0% |
| Ghaziabad | 0% |
| Hyderabad | 0% |
| Jaipur | 1% |
| Jamshedpur | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mandi | 0% |
| Mumbai | 0% |
| Muzzafarnagar | 1% |
| Nagpur | 1% |
| Raigarh | -1% |
| Raipur | 1% |
| Rourkela | 0% |
| Rudrapur | -1% |
Change is on Feb 25th as compared to 18th Feb 2011
Pig Iron
| Location | Change |
| Agra | 2% |
| Jallandhar | 1% |
| Kolkata | 2% |
| Raipur | 3% |
Change is on Feb 25th as compared to 18th Feb 2011
Sponge iron
| Location | Change |
| Bellary | -1% |
| Kolkata | 3% |
| Raigarh | 1% |
| Raipur | 0% |
| Rourkela | 1% |
Change is on Feb 25th as compared to 18th Feb 2011
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | -1% |
| Delhi | 1% |
| Indore | 3% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mandi | 0% |
| Mumbai | 0% |
| Muzzafarnagar | 0% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Feb 25th as compared to 18th Feb 2011
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Feb 25th as compared to 18th Feb 2011
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 1% |
| Delhi | 0% |
| Indore | 3% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mandi | 0% |
| Mumbai | 0% |
| Raipur | -1% |
| Rudrapur | 0% |
Change is on Feb 25th as compared to 18th Feb 2011
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 1% |
| Delhi | 0% |
| Indore | 3% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mandi | 0% |
| Mumbai | 0% |
| Raipur | -2% |
| Rudrapur | 1% |
Change is on Feb 25th as compared to 18th Feb 2011
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 1% |
| Delhi | 0% |
| Indore | 6% |
| Kanpur | 1% |
| Kolkata | 1% |
| Mandi | 0% |
| Mumbai | 0% |
| Raipur | -2% |
| Rudrapur | 1% |
Change is on Feb 25th as compared to 18th Feb 2011
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | -1% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kolkata | 2% |
| Ludhiana | 0% |
| Mumbai | -2% |
Change is on Feb 25th as compared to 18th Feb 2011
Patra
| Location | Change |
| Delhi | 0% |
| Ludhiana | 2% |
| Mandi | 0% |
Change is on Feb 25th as compared to 18th Feb 2011
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 1% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 2% |
| Mumbai | -6% |
| Rudrapur | 1% |
Change is on Feb 25th as compared to 18th Feb 2011
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 1% |
| Delhi | 0% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | -3% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Feb 25th as compared to 18th Feb 2011
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | -1% |
| Pune | -1% |
| Rudrapur | 0% |
Change is on Feb 25th as compared to 18th Feb 2011
GP
100Gms
0.4
| Location | Change |
| Mumbai | -1% |
| Chennai | 0% |
| Kolkata | 1% |
| Delhi | -1% |
| Ludhiana | 0% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Feb 25th as compared to 18th Feb 2011
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | 0% |
| Kolkata | 1% |
| Mumbai | 0% |
| Ludhiana | 1% |
| Rudrapur | 0% |
Change is on Feb 25th as compared to 18th 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
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 |
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| USD | 1,650 | 3,300 | 5,500 | 11,000 | 16,500 | 22,000 |
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