Indian domestic steel prices continue to exhibit weakening sentiments last week. The Indian Long Product Price Index ILPPI decreased by 81 points whereas Indian Flat Products Index IFPPI dipped by 52 points. The overall price index INDSPI decreased by 67 points.
| Class | 23-Oct | 30-Oct | Change | % |
| ILPPI | 6039 | 5958 | -81 | -1.3% |
| IFPPI | 7417 | 7365 | -52 | -0.7% |
| INDSPI | 6695 | 6628 | -67 | -1.0% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 23-Oct | 30-Oct | Change | % |
| PI - TMT | 5754 | 5633 | -121 | -2.1% |
| PI - WRC | 6525 | 6492 | -33 | -0.5% |
| PI - Angle | 5750 | 5644 | -106 | -1.8% |
| PI - Channel | 5806 | 5697 | -110 | -1.9% |
| PI - Joist | 5422 | 5349 | -73 | -1.4% |
PI - Product Index
Flat products
| Category | 23-Oct | 30-Oct | Change | % |
| PI - Narrow Plates | 7102 | 7052 | -50 | -0.7% |
| PI - Wide Plates | 7230 | 7168 | -61 | -0.8% |
| PI - Hot Rolled | 7258 | 7223 | -35 | -0.5% |
| PI - Cold Rolled | 7956 | 7872 | -84 | -1.1% |
| PI - Galvanized | 7890 | 7809 | -80 | -1.0% |
PI - Product Index
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Weak sentiments in last weak reflect that Indian steel majors are likely to reduce their price for November
1. Input material - Under pressure
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | 0% |
| Kandla | 0% |
| Mumbai | -1% |
| Mandi | -2% |
| Kolkata | -2% |
| Kanpur | 0% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
Alang
| Product | Size | Change |
| Ships | Mixed | -1% |
| Plate cuttings | 1' | -6% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
Pencil ingot
| Location | Change |
| Mumbai | -3% |
| Mandi | -4% |
| Raipur | 0% |
| Kanpur | 0% |
| Kolkata | -3% |
| Ghaziabad | 0% |
| Muzzafarnagar | 0% |
| Ahmedabad | -1% |
| Rudrapur | -1% |
| Hyderabad | -1% |
| Raigarh | -1% |
| Durgapur | -1% |
| Nagpur | -1% |
| Jamshedpur | -1% |
| Jaipur | 0% |
| Rourkela | -3% |
| Bhiwari | 0% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
Pig Iron
| Location | Change |
| Raipur | 3% |
| Kolkata | -1% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
Sponge iron
| Location | Change |
| Raipur | -1% |
| Kolkata | 6% |
| Bellary | -2% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
2. Long products - Slide continues
TMT
Fe 415
12mm
| Location | Change |
| Chennai | 0% |
| Mumbai | -2% |
| Mandi | -4% |
| Kolkata | -4% |
| Delhi | -1% |
| Kanpur | 0% |
| Ahmedabad | -3% |
| Indore | -2% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | 0% |
| Raipur | -1% |
| Kolkata | -1% |
| Delhi | 0% |
| Kanpur | -1% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
ANGL
GRADE A
65X65X6
| Location | Change |
| Chennai | -3% |
| Mumbai | -2% |
| Mandi | -3% |
| Raipur | -2% |
| Kolkata | -2% |
| Delhi | 0% |
| Kanpur | -1% |
| Ahmedabad | -1% |
| Indore | -1% |
| Bangalore | -2% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
CNHL
GRADE A
75/40
| Location | Change |
| Chennai | -2% |
| Mumbai | -2% |
| Mandi | -3% |
| Raipur | -1% |
| Kolkata | -4% |
| Delhi | 0% |
| Kanpur | 0% |
| Ahmedabad | -1% |
| Indore | -2% |
| Bangalore | -2% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
JSTI
GRADE A
250X125
| Location | Change |
| Chennai | -3% |
| Mumbai | -2% |
| Mandi | 2% |
| Raipur | -3% |
| Kolkata | -4% |
| Delhi | 0% |
| Kanpur | 0% |
| Ahmedabad | -1% |
| Indore | -2% |
| Bangalore | 0% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
3. Flat products - Major weakening
HRC
Tube
2.5x1250
| Location | Change |
| Mumbai | -3% |
| Ludhiana | -3% |
| Kolkata | 1% |
| Delhi | 0% |
| Ahmedabad | -1% |
| Indore | 0% |
| Bangalore | 0% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
Patra
| Location | Change |
| Ludhiana | -5% |
| Mandi | -3% |
| Delhi | 0% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
Plates
GRADE A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Mumbai | -4% |
| Kolkata | 0% |
| Delhi | 0% |
| Kanpur | -1% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
Plates
GRADE B
12-20X2500
| Location | Change |
| Chennai | 0% |
| Mumbai | -3% |
| Raipur | 0% |
| Kolkata | -1% |
| Delhi | 0% |
| Kanpur | -1% |
| Ahmedabad | 0% |
| Indore | 0% |
| Bangalore | -3% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
CR
DSK
0.63x1000
| Location | Change |
| Chennai | 0% |
| Mumbai | -3% |
| Pune | -3% |
| Kolkata | -1% |
| Delhi | 0% |
| Kanpur | 0% |
| Ahmedabad | -1% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
GC
100Gms
0.4
| Location | Change |
| Chennai | -2% |
| Mumbai | -3% |
| Kolkata | 0% |
| Delhi | 0% |
| Kanpur | -1% |
| Bangalore | -2% |
Change is on October 30th as compared to October 23rd 2009
Change is in INR per tonne
4. Indian Export Levels - Stagnant
| Item | Grade | Size | Delivery | Change |
| PLTS | Structural | 12-40x2.5 | FOB Vizag | 0 |
| HDG | 100Gms | 0.4 | FOB Mumbai | 0 |
| PPGI | Standard RAL | 0.4 | FOB Mumbai | 0 |
Change is on October 2nd as compared to September 25th 2009
Change is in USD per tonne
Indian Import Levels - Confused situation
After the lowest reported level of USD 495 per tonne CNF India, Chinese mills and sellers, after slight rebound in Chinese domestic prices, tried to increase export offers by USD 20 per tonne in the first few days of last week, which they retracted by weekend to some extant.
On the weekend, Chinese offers for 3mm to 12mm SS 400 grade HRC in 1250mm / 1500mm width were at USD 505 per tonne to USD 510 per tonne CFR Mumbai.
But buyers were confused and most of them decided to hold their decisions. This happened after news spread that NLMK has booked a 30,000 tonne cold rolling grade HRC parcel at USD 500 CNF Mumbai.
As per market sources, Russian mills are under pressure to load their mills amid increased availability (BF restarts) and reduced demand due to incoming winter season and may reduce their prices further.
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