Indian domestic steel prices continue to exhibit weakening sentiments last week. The Indian Long Product Price Index ILPPI decreased by 13 points whereas Indian Flat Products Index IFPPI dipped by 64 points. The overall price index INDSPI decreased by 37 points.
| Class | 16-Oct | 23-Oct | Change | % |
| ILPPI | 6052 | 6039 | -13 | -0.2% |
| IFPPI | 7481 | 7417 | -64 | -0.9% |
| INDSPI | 6733 | 6695 | -37 | -0.6% |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 16-Oct | 23-Oct | Change | % |
| PI - TMT | 5763 | 5754 | -9 | -0.2% |
| PI - WRC | 6545 | 6525 | -20 | -0.3% |
| PI - Angle | 5752 | 5750 | -2 | 0.0% |
| PI - Channel | 5826 | 5806 | -20 | -0.3% |
| PI - Joist | 5425 | 5422 | -3 | -0.1% |
PI - Product Index
Flat products
| Category | 16-Oct | 23-Oct | Change | % |
| PI - Narrow Plates | 7130 | 7102 | -28 | -0.4% |
| PI - Wide Plates | 7245 | 7230 | -16 | -0.2% |
| PI - Hot Rolled | 7327 | 7258 | -69 | -0.9% |
| PI - Cold Rolled | 8076 | 7956 | -120 | -1.5% |
| PI - Galvanized | 7911 | 7890 | -21 | -0.3% |
PI - Product Index
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1. Input material - Tailspin continues
The prices of input material dipped without any respite for the 3rd consecutive week . Brief periods of correction have promptly paled into another round of decline in the absence of demand for downstream long products.
International scrap prices have played first fiddle with sentiments remaining mellowed as demand of re bars has remained abysmally poor keeping the mills away from the market. Likewise the debacle in Chinese steel prices owing to surplus production and waning demand has kept the scrap prices low as mills scurry from production.
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | -4% |
| Kandla | 0% |
| Mumbai | -1% |
| Mandi | -5% |
| Kolkata | -5% |
| Kanpur | -2% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
Alang
| Product | Size | Change |
| Ships | Mixed | 0% |
| Plate cuttings | 1” | 0% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
Pencil ingot
| Location | Change |
| Mumbai | 4% |
| Mandi | -2% |
| Raipur | -3% |
| Kanpur | -2% |
| Kolkata | 0% |
| Ghaziabad | -1% |
| Muzzafarnagar | -3% |
| Ahmedabad | -1% |
| Rudrapur | 1% |
| Hyderabad | 1% |
| Raigarh | -4% |
| Durgapur | -2% |
| Nagpur | -2% |
| Jamshedpur | 0% |
| Jaipur | 0% |
| Rourkela | 0% |
| Bhiwari | 0% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
Pig Iron
| Location | Change |
| Raipur | 0% |
| Kolkata | -1% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
Sponge iron
| Location | Change |
| Raipur | 2% |
| Kolkata | -13% |
| Bellary | 2% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
2. Long products - Expectant spirits
The long product prices although has not shown any positivity in the recently however the happenings have been less pronounced compared to flat products. The market seems agog with expectation that the prices have hit the bottom as most of the suppliers are already producing below cost and would certainly bid for price hike to survive . Moreover with the culmination of festivities in India the situation is ripe for pick up in construction activities which has remained subdued for long . Massive allocation by the government for housing and infrastructure development in rural India will certainly unleash a period of hiked consumption.
TMT
Fe 415
12mm
| Location | Change |
| Chennai | -3% |
| Mumbai | 3% |
| Mandi | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Kanpur | -1% |
| Ahmedabad | 0% |
| Indore | 2% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
WRC
SWR14
5.5/6
| Location | Change |
| Chennai | -1% |
| Raipur | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Kanpur | -1% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
ANGL
GRADE A
65X65X6
| Location | Change |
| Chennai | 0% |
| Mumbai | 3% |
| Mandi | -2% |
| Raipur | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Kanpur | -1% |
| Ahmedabad | -1% |
| Indore | 2% |
| Bangalore | 0% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
CNHL
GRADE A
75/40
| Location | Change |
| Chennai | -3% |
| Mumbai | 3% |
| Mandi | -1% |
| Raipur | 0% |
| Kolkata | 1% |
| Delhi | 0% |
| Kanpur | -1% |
| Ahmedabad | -1% |
| Indore | 2% |
| Bangalore | 0% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
JSTI
GRADE A
250X125
| Location | Change |
| Chennai | 0% |
| Mumbai | 3% |
| Mandi | -2% |
| Raipur | 0% |
| Kolkata | 2% |
| Delhi | -3% |
| Kanpur | -2% |
| Ahmedabad | 0% |
| Indore | 2% |
| Bangalore | 0% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
3. Flat products - Scene becomes murkier
The flat product market has not seen any happenings over the last 4 weeks. The prices are at abject level as the market prices diminishes week on week in the absence of demand. The negativity is having an extended run as buyers are well stocked which refuses to deplete in the absence of end use demand as well as the threat of Chinese imports. It is reported that some steel majors have been doling out sops like cash discount to the tune of INR 1200 -1500 per tonne and kind like Gold coins (3gms) on purchase of 10 tonne and above. The writing on the wall is clear that steel majors would go for price reduction in November .
HRC
Tube
2.5x1250
| Location | Change |
| Mumbai | 0% |
| Ludhiana | -3% |
| Kolkata | -1% |
| Delhi | -4% |
| Ahmedabad | 0% |
| Indore | 0% |
| Bangalore | 0% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
Patra
| Location | Change |
| Ludhiana | 2% |
| Mandi | -2% |
| Delhi | 0% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
Plates
GRADE A
8X1250/1500
| Location | Change |
| Chennai | 0% |
| Mumbai | 0% |
| Kolkata | -1% |
| Delhi | -1% |
| Kanpur | 0% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
Plates
GRADE B
12-20X2500
| Location | Change |
| Chennai | 0% |
| Mumbai | 0% |
| Raipur | 0% |
| Kolkata | 0% |
| Delhi | 0% |
| Kanpur | -1% |
| Ahmedabad | 0% |
| Indore | -1% |
| Bangalore | 0% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
CR
DSK
0.63x1000
| Location | Change |
| Chennai | -1% |
| Mumbai | 0% |
| Pune | 0% |
| Kolkata | -2% |
| Delhi | -5% |
| Kanpur | 0% |
| Ahmedabad | -1% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
GC
100Gms
0.4
| Location | Change |
| Chennai | -1% |
| Mumbai | 0% |
| Kolkata | -1% |
| Delhi | -1% |
| Kanpur | -1% |
| Bangalore | 0% |
Change is on October 23rd as compared to October 16th 2009
Change is in INR per tonne
4. Indian Export Levels - Wilts under Chinese pressure
The rampaging Chinese offers has not only send the offer levels crashing , but soaring buyers expectation for a cheaper booking . The market is in huddle expecting further decline. The ensuing imbroglio eludes clarity and definite direction. The market is highly China centric.
| Item | Grade | Size | Delivery | Change |
| PLTS | Structural | 12-40x2.5 | FOB Vizag | -30 |
| HDG | 100Gms | 0.4 | FOB Mumbai | 0 |
| PPGI | Standard RAL | 0.4 | FOB Mumbai | 0 |
Change is on October 23rd as compared to October 16th 2009
Change is in USD per tonne
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