Steel market in India maintained stoic silence last week. With the activity in both flat and long segment on a low key for the past fortnight the entry in March was lackluster. Stockiest and traders after a marathon run in January and early February had barely any scope for further buying till the old stocks are consumed.
In the flat market particularly the downstream demand of finished products is languishing. The inventory with the intermediaries is choking the supply chain. Although in some quarters murmurs of small price increase are heard but that is expected to even out with monthly rebates.
The situation in long product prices is equally ambiguous with the market reeling under severe correction over the past 1 month and the input material prices remaining volatile. The pall of uncertainty promises to prolong into March as the transactions remain abysmal.
But the hike by CIL for Grade A and B for all consumers by 73% to 188% and 88% to 218%, respectively is going to significantly hike the cost bill for most of the sponge iron manufacturers as they prefer to use A and B grades. Sponge iron, being a key ingredient for the manufacture of pencil ingot, consumes nearly 1.3 tonne of coal for each tonne of output. Hence conclusively it can be said that the impact will have a passing effect in the coming weeks on the prices of pencil ingot and finished steel.
The price levels for flat and long is expected to remain unaltered in March as dynamics are evenly poised making the manufacturers play safe till the cloud clears.
The Indian Long Product Price Index ILPPI surged by 4 points last week whereas Indian Flat Products Index IFPPI has gone down by 15 points. The overall price index INDSPI declined by 5 points.
| Class | 25-Feb | 04-Mar | Change | % |
| ILPPI | 7842 | 7847 | 4 | 0.1% |
| IFPPI | 9024 | 9008 | -15 | -0.2% |
| INDSPI | 8405 | 8400 | -5 | -0.1% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 25-Feb | 04-Mar | Change | % |
| PI - TMT | 7668 | 7715 | 46 | 0.6% |
| PI - WRC | 8169 | 8133 | -36 | -0.4% |
| PI - Angle | 7654 | 7663 | 9 | 0.1% |
| PI - Channel | 7714 | 7713 | -1 | 0.0% |
| PI - Joist | 7290 | 7283 | -7 | -0.1% |
PI - Product Index
Flat products
| Category | 25-Feb | 04-Mar | Change | % |
| PI - Narrow Plates | 8281 | 8257 | -24 | -0.3% |
| PI - Wide Plates | 8649 | 8632 | -17 | -0.2% |
| PI - Hot Rolled | 8801 | 8786 | -15 | -0.2% |
| PI - Cold Rolled | 10030 | 10003 | -27 | -0.3% |
| PI - Galvanized | 9670 | 9692 | 22 | 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 | -4% |
| Kandla | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 1% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on Mar 4th as compared to 25th Feb 2011
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 2% |
| Ships | Mixed | 2% |
Change is on Mar 4th as compared to 25th Feb 2011
Pencil ingot
| Location | Change |
| Ahmedabad | 1% |
| Alang | 0% |
| Bhiwari | 0% |
| Chennai | 0% |
| Durgapur | 2% |
| Ghaziabad | 0% |
| Hyderabad | 0% |
| Jaipur | 0% |
| Jamshedpur | 0% |
| Kanpur | 2% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 1% |
| Muzzafarnagar | 0% |
| Nagpur | 1% |
| Raigarh | 2% |
| Raipur | 1% |
| Rourkela | 0% |
| Rudrapur | 1% |
Change is on Mar 4th as compared to 25th Feb 2011
Pig Iron
| Location | Change |
| Agra | 0% |
| Jallandhar | 0% |
| Kolkata | 0% |
| Raipur | 0% |
Change is on Mar 4th as compared to 25th Feb 2011
Sponge iron
| Location | Change |
| Bellary | -1% |
| Kolkata | 2% |
| Raigarh | 1% |
| Raipur | 0% |
| Rourkela | 1% |
Change is on Mar 4th as compared to 25th Feb 2011
2. Long products
Rebar (TMT QST)
Fe 415
12mm
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 2% |
| Delhi | 1% |
| Indore | -1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 1% |
| Muzaffarnagar | 1% |
| Raipur | 0% |
| Rudrapur | 1% |
Change is on Mar 4th as compared to 25th Feb 2011
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Delhi | -3% |
| Kanpur | 1% |
| Kolkata | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Mar 4th as compared to 25th Feb 2011
ANGL
Grade A
65X65X6
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 1% |
| Delhi | -3% |
| Indore | -1% |
| Kanpur | 1% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Mar 4th as compared to 25th Feb 2011
CHNL
Grade A
75/40
| Location | Change |
| Ahmedabad | 1% |
| Bangalore | 0% |
| Chennai | 1% |
| Delhi | -3% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Mar 4th as compared to 25th Feb 2011
JSTI
Grade A
250X125
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 1% |
| Delhi | -3% |
| Indore | -1% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mandi | 0% |
| Mumbai | 1% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Mar 4th as compared to 25th Feb 2011
3. Flat products
HRC
Tube
2.5x1250
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | 0% |
| Indore | 0% |
| Kolkata | 0% |
| Ludhiana | 0% |
| Mumbai | 0% |
Change is on Mar 4th as compared to 25th Feb 2011
Patra
| Location | Change |
| Delhi | -3% |
| Ludhiana | 0% |
| Mandi | 0% |
Change is on Mar 4th as compared to 25th Feb 2011
Plates
Grade A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Delhi | 0% |
| Kanpur | 0% |
| Kolkata | -1% |
| Mumbai | 0% |
| Rudrapur | 0% |
Change is on Mar 4th as compared to 25th Feb 2011
Plates
GRADE B
12-20X2500
| Location | Change |
| Ahmedabad | 0% |
| Bangalore | -1% |
| Chennai | 1% |
| Delhi | 0% |
| Indore | 0% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 0% |
| Raipur | 0% |
| Rudrapur | 0% |
Change is on Mar 4th as compared to 25th Feb 2011
CR
DSK
0.63x1000
| Location | Change |
| Ahmedabad | 0% |
| Chennai | 0% |
| Delhi | -1% |
| Kanpur | -1% |
| Kolkata | 0% |
| Mumbai | 0% |
| Pune | 0% |
| Rudrapur | -1% |
Change is on Mar 4th as compared to 25th Feb 2011
GP
100Gms
0.4
| Location | Change |
| Mumbai | 2% |
| Chennai | 0% |
| Kolkata | 0% |
| Delhi | -2% |
| Ludhiana | 4% |
| Kanpur | 0% |
| Rudrapur | 0% |
| Bangalore | 0% |
Change is on Mar 4th as compared to 25th Feb 2011
GC
100Gms
0.4
| Location | Change |
| Bangalore | 0% |
| Chennai | 0% |
| Delhi | -2% |
| Kanpur | 0% |
| Kolkata | 0% |
| Mumbai | 2% |
| Ludhiana | 1% |
| Rudrapur | 0% |
Change is on Mar 4th as compared to 25th 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
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| USD | 1,650 | 3,300 | 5,500 | 11,000 | 16,500 | 22,000 |
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