Subsequent to the assurance given by steel majors that they would not increase prices in short term on July 3rd 2008, log product prices have seen major correction at Chennai market as compared to high on July 1st 2008
| Product | Grade | Size | 1-Jul | 10-Jul | Change | % |
| TMT | Fe 415 | 12mm | 52208 | 49088 | -3120 | -6.0% |
| TMT | Fe 500 | 12mm | 53248 | 50648 | -2600 | -4.9% |
| WRC | SWR14 | 5.5/6 | 49920 | 47320 | -2600 | -5.2% |
| ANGL | GR A | 65x6 | 54080 | 52520 | -1560 | -2.9% |
| CHNL | GR A | 75/100 | 54080 | 53040 | -1040 | -1.9% |
| JSTI | GR A | 250x125 | 60320 | 58240 | -2080 | -3.4% |
Price in INR per tonne
Inclusive of ED and VAT
Delivery FOT
The downward trend is attributed to sever dip in scrap prices in the region.
| Product | Grade | Size | 1-Jul | 10-Jul | Change | % |
| Melting scrap | 80:20 | HMS | 38079 | 34509 | -3570 | -9.4% |
Price in INR per tonne
Inclusive of ED and VAT
Delivery FOT
(Sourced from www.steelprices-india.com)