Announcement

Monday, May 31, 2010

Indian steel price index down by 16 points

The Indian Long Product Price Index ILPPI went down by 18 points whereas Indian Flat Product Price Index IFPPI went down by 14 points. The overall Indian Steel Price Index INDSPI by went down 16 points
Class 28-May 31-May Change %

ILPPI 6889 6871 -18 -0.3%

IFPPI 8251 8238 -14 -0.2%

INDSPI 7538 7522 -16 -0.2%



ILPPI - Long Product Price Index
IFPPI - Flat Product Price Index
INDSPI - Indian Steel Price Index

Long Products
Category 28-May 31-May Change %

PI - TMT 6681 6647 -34 -0.5%

PI - WRC 7343 7332 -11 -0.1%

PI - Angle 6515 6515 0 0.0%

PI - Channel 6620 6633 13 0.2%

PI - Joist 6127 6114 -13 -0.2%



PI - Product Index

Flat Products
Category 28-May 31-May Change %

PI - Narrow Plates 7799 7780 -18 -0.2%

PI - Wide Plates 8187 8155 -32 -0.4%

PI - Hot Rolled 7989 7981 -8 -0.1%

PI - Cold Rolled 9097 9089 -8 -0.1%

PI - Galvanized 8737 8705 -33 -0.4%



PI - Product Index

To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html

You can also get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert

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(Sourced from www.steelprices-india.com)

Pencil ingot price movement in major places

Pencil ingot
Location Change

Ahmedabad 100

Bhiwari -100

Durgapur 91

Ghaziabad 200

Hyderabad 0

Jaipur 100

Jamshedpur 0

Kanpur -349

Kolkata -181

Mandi 181

Mumbai 0

Muzzafarnagar 349

Nagpur

Raigarh 0

Raipur 181

Rourkela 0

Rudrapur -262



Change is on 28th May as compared to 27th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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(Sourced from www.steelprices-india.com)

Sponge iron price down in Kolkata Bellary and Raipur

Sponge iron
Location Change

Bellary -200

Kolkata -700

Raigarh 0

Raipur -100

Rourkela 0



Change is on 28th May as compared to 27th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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(Sourced from www.steelprices-india.com)

Pig iron price crashes at most places on May 31

Pig iron
Foundry Grade
Location Change

Agra -363

Jallandhar -181

Kolkata -544

Raipur -453



Change is on 28th May as compared to 27th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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(Sourced from www.steelprices-india.com)

GC steel HDG price crashes in Ludhiana

GC
100Gms
0.40
Location Change

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Ludhiana -544

Mumbai 0

Rudrapur 0



Change is on 28th May as compared to 27th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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(Sourced from www.steelprices-india.com)

Rebar TMT QST price movement in India

TMT
Fe 415
12mm
Location Change

Ahmedabad 0

Bangalore -400

Chennai 0

Delhi -661

Hyderabad 0

Indore -200

Kanpur -600

Kolkata 0

Mandi 208

Mumbai 0

Raipur 0

Rudrapur -1000



Change is on 28th May as compared to 27th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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Sponge and induction units closed in Orissa due to - Report

It is reported that at least 35 sponge iron plants and 46 Induction Furnace units in the state remain shut down pushing the fate of over 50,000 workers into uncertainty.

As per report, the remaining 70 sponge iron and another 110 induction furnace units are running at less than 50% of their

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Indian steel ministry achievements during the last one year

Mr Virbhadra Singh Indian minister of steel provided details of policy, initiatives & achievements of the ministry of steel during the last one year as under

1. During the year the ministry played a crucial role in providing directives for the Steel industry’s harmonious and

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Mr Vivek Sahai takes over as chairman of Railway Board

Mr Vivek Sahai has taken over as the new Chairman, Railway Board and ex officio Principal Secretary to the Government of India, Ministry of Railways. Prior to this, Mr Sahai has been holding the post of Member (Traffic) Railway Board since 28th December 2009.

He replaced Mr SS Khurana who

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Orissa may cancel MoUs with four steel firms - Report

BS reported that Orissa steel and mines department has tightened the noose on four non serious steel players who have made unsatisfactory progress on their proposed projects in Orissa after entering into MoUs with the state government.

The four steel companies are
1. Atha Mines Private

More Info

Steel cost optimization tool for auto and white goods sector

The increased input costs are likely to hit the bottom line of auto and white goods companies giving rise to optimization of their steel purchase, which is normally a big ticket item.

In general purchase managers are busy in sourcing too many items. Many of them, despite steel being very

More Info

Agony aggravates for long products on the eve of price reduction

The never ending agony of long product market in India seems to intensify with each passing week.

The cyclical revival after correction has been prolonged owing to recent atrophic tendencies in the international market. The prices of vital ingredients viz scrap and billets etc receded by

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Steel prices down with speculation - Dr AS Firoz

As Germany and the USA are taking strong measures to curb speculative trading in financial assets, the commodity markets too should not be allowed to be driven by wild speculation supported by flow of low cost money coming from institutions with soft budget constraints.

Steel prices have

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Note of thanks on 5th anniversary of steelguru.com

June 1st 2009 marks the beginning of our SIXTH year of operations after a long journey of 1826 days or 260 weeks, since the day of June 1st 2005, when we published the first issue of Steel Trade Today. We are proud to state that

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Kolkata port revives plans for Diamond Harbor box terminal

The proposal for a container terminal at the Diamond Harbor on the Hooghly river under the Kolkata Port Trust is being revived again. The proposal went into backburner as the Defence authorities were opposed to part with its riverfront land identified as suitable for the project.

The

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Prakash Industries net in 2009-10 up by 30pct

Domestic steel maker Prakash Industries posted a 30% rise in its net profit at INR 266 crore in the 2009-10 fiscal on the back of higher production, demand and cost reduction in its operations.

Prakash Industries in a statement said that "It has reported highest ever net profit of INR 266 crore for the FY'10 as against INR 204 crore in FY'09 mainly driven by marked improvement in capacity utilisation, higher integration and resultantly reduced cost.”

For the financial year 2009-10, the company said its net sales stood at INR 1,568 crore as against INR 1,526 crore in FY'09. it added that "The company has achieved growth of more than 22% in its sales volumes compared to the previous year which helped the firm to improve its operating margins.”

Mr V P Agarwal CMD of Prakash Industries said that "The strong financial performance is the result of improved production levels and efficiencies and greater level of integration that we have achieved. We expect the trends to continue going forward."

He added that the company has chalked out INR 3,300 crore expansion and diversification program for the next five years.

(Sourced from Press Trust of India)

Get SMS alert for Indian steel price indices

You can now get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert

The domestic steel prices across various locations in India are different due to variety of factors and the day to day changes are also different. It is seen

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India emerging as global hub for automotive steel

India may soon emerge as a hub for high value automotive steel manufacturing. The joint venture of TATA Steel and Nippon Steel is a recent effort in this direction. At least two more Japanese companies have already tied up for making automotive steel in India with local partners.

A major

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UGSL Q4 net dips

Uttam Galva Steel Limited reported a 27% decline in its net profit at INR 34.27 crore for the fourth quarter of the 2009-10 fiscal mainly due to tax liabilities and change in accounting norms.

UGSL had earned a net profit of INR 46.96 crore in the year-ago period.

The firm said its

More Info

Utilize directory of Indian steel makers to expand your business

The fast developing Indian steel industries are continuing beyond what most believed was possible. As one of the world's fastest growing economies, India has become the most happening place among world steel market over last few years and thus is in the radar of not only Indian but most of

More Info

POSCO war zone - PPSS urges to shift project from Dhinkia

The much awaited discussion between POSCO Pratirodha Sangram Samiti and Revenue Divisional Commissioner, Central rage which depended on the perspective of POSCO's INR 52,000 crore steel project has shown the rays of new hope for said project in Dhinkia and next meeting on June 5th would clear

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UGSLa to commission Wardha unit by June end

ET reported that Uttam Galva Steel Limited will commission the Wardha unit by June end.

The report quoted Mr Ankit Miglani commercial director of UGSL as saying that “We will commission the 0.5 million tonnes steel plant in Wardha district of Maharashtra by the end of the current

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SAIL plans to set up pelletization plant at Gua

Steel Authority of India Ltd plans to set up a 4 million tonne pellet plant at Gua in Jharkhand to use its huge reserves of iron ore fines in the region. The plant, for which it issued a tender, can cost up to INR 1,000 crore and will be part of the INR 12,500 crore capital expenditure

More Info

Monday Market Monitor - India - WEEK 21- Steel makers in peril

Steel prices in Indian domestic market continued southward march last week. While the long products have been hit by abysmal demand ad increasing inventories, flat products are facing sever threat from arrival of low priced imported cargos.

Although some steel majors announced price cuts

More Info

Friday, May 28, 2010

Indian steel price index reflects continued slide

The Indian Long Product Price Index ILPPI went down by 36 points whereas Indian Flat Product Price Index IFPPI went down by 25 points. The overall Indian Steel Price Index INDSPI went down by 31 points

Class 27-May 28-May Change %

ILPPI 6925 6889 -36 -0.5%

IFPPI 8276 8251 -25 -0.3%

INDSPI 7569 7538 -31 -0.4%



ILPPI - Long Product Price Index
IFPPI - Flat Product Price Index
INDSPI - Indian Steel Price Index

Long Products
Category 27-May 28-May Change %

PI - TMT 6747 6681 -65 -1.0%

PI - WRC 7359 7343 -16 -0.2%

PI - Angle 6539 6515 -24 -0.4%

PI - Channel 6644 6620 -24 -0.4%

PI - Joist 6146 6127 -19 -0.3%



PI - Product Index

Flat Products
Category 27-May 28-May Change %

PI - Narrow Plates 7799 7799 0 0.0%

PI - Wide Plates 8187 8187 0 0.0%

PI - Hot Rolled 8023 7989 -34 -0.4%

PI - Cold Rolled 9123 9097 -26 -0.3%

PI - Galvanized 8770 8737 -33 -0.4%



PI - Product Index

To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html

You can also get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

For registration click or copy the link and paste it to your internet explorer address bar

http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

HR steel prices loose more sheen on May 28

HRC
Tube
2.5x1250
Location Change

Ahmedabad -453

Bangalore 0

Chennai 0

Delhi -447

Indore -598

Kolkata 0

Ludhiana -272

Mumbai 0



Change is on 28th May as compared to 27th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

For registration click or copy the link and paste it to your internet explorer address bar

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CR steel price crashes in Delhi

CR
DSK
0.63
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi -893

Kanpur 0

Kolkata 0

Mumbai 0

Pune 0

Rudrapur 0



Change is on 28th May as compared to 27th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

For registration click or copy the link and paste it to your internet explorer address bar

http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Pencil ingot price on down movement in major places

Pencil ingot
Location Change

Ahmedabad -200

Bhiwari -200

Durgapur 0

Ghaziabad -400

Hyderabad 0

Jaipur -400

Jamshedpur -200

Kanpur 0

Kolkata 0

Mandi -363

Mumbai -400

Muzzafarnagar -436

Nagpur -272

Raigarh 0

Raipur -272

Rourkela -181

Rudrapur 0



Change is on 28th May as compared to 27th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

For registration click or copy the link and paste it to your internet explorer address bar

http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Mukand may sell Thane land

ET reported that specialty steel maker Mukand, jointly controlled by the Bajaj and Shah families, is close to selling a part of its land at Kalwa near Thane for about INR 600 crore.

The company owns over 60 acres of land at the rolling facility at Kalwa and intends to use the proceeds to

More Info

Rail and SAIL to get units of Burn and Braithwaite - Report

The Union cabinet will soon discuss the restructuring of ailing public sector wagon makers Burn Standard and Braithwaite.

The department of heavy industries sent its recommendations to the cabinet on May 14 for the transfer of Burn Standard and Braithwaite units to the railways and Steel

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TATA Steel to raise stake in Canadaian mining firm

It is reported that TATA Steel has entered into a letter of intent to increase its stake in Canadian mining company New Millennium Capital Corp to 27.4 % a move aimed at buffering its European operations from the volatility in raw material prices to some extent.

According to intimation from

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POSCO unlikely to invest in Karnataka - Report

It is reported that POSCO is unlikely to set up a steel plant in Karnataka as the state government has not accepted certain conditions put forth by the South Korean steel giant.

POSCO had sought a written commitment from the state government on the allocation of iron ore mines, land and

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TATA Sons to infuse cash in TATA Steel

It is reported that TATA Sons will infuse close to INR 1,350 crore in TATA Steel by way of a preferential issue.

The main promoter of the TATA group informed the stock exchanges that it would subscribe to 1.5 crore ordinary shares and 1.2 crore warrants.

The price will be determined

More Info

Macroeconomic indicators - Indian infrastructure growth moderates in April

The Index of six core industries, having a combined weight of 26.7% in the IIP, stood at 259.6 in April and registered a growth of 5.1% Vs 7.2% in March

Combined growth in India's six key infrastructure industries slowed in April, as weak performance in the Coal, Electricity and Finished

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TATA Steel finally lays foundation for steel plant at Kalinga Nagar

It is reported that TATA Steel has finally laid the foundation stone for its proposed 6 million tonne project at Orissa’s Kalinga Nagar plant at Ambagadia after a five year long battle.

As per report, there was no opposition or whatsoever from the Bisthapan Virodhi Jana Manch, a

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SAIL announces Q4 and 2009-10 result

Recently anointed a Maharatna company by the Government of India Steel Authority of India Limited took on record its audited financial performance for January to March of FY ’10 showing profit after tax of INR 2,085 crore, with an improvement of 40% YoY. The company achieved net sales

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Thursday, May 27, 2010

17 major port projects to be awarded this year

It is reported that around 17 major port projects are scheduled to be awarded this year under build operate and transfer method ranging from new terminals deepening ports building cargo berths to mechanization of handling facilities.

Of these projects at least eight are of large size

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Mundra SEZ attracts INR 3000 crore investment

It is reported that the Adani group’s 6,400 hectare Mundra SEZ in Kutch district of Gujarat has attracted over INR 3,000 crore. As many as 21 companies have committed to set up projects there.

As per the reports the early entrants include Thermax, Kalyani Alstom Power and Alstom

More Info

Rebar TMT QST price looses INR 551 in NCR Delhi

TMT
Fe 415
12mm
Location Change

Ahmedabad -208

Bangalore 0

Chennai 0

Delhi -551

Hyderabad 0

Indore 0

Kanpur 0

Kolkata 0

Mandi -104

Mumbai 0

Raipur 0

Rudrapur 0



Change is on 27th May as compared to 26th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

For registration click or copy the link and paste it to your internet explorer address bar

http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Indian steel price index down by 13 points on May27

The Indian Long Product Price Index ILPPI went down by 25 points whereas Indian Flat Product Price Index IFPPI went down by 1 point. The overall Indian Steel Price Index INDSPI went down by 13 points

Class 26-May 27-May Change %

ILPPI 6950 6925 -25 -0.4%

IFPPI 8277 8276 -1 0.0%

INDSPI 7582 7569 -13 -0.2%



ILPPI - Long Product Price Index
IFPPI - Flat Product Price Index
INDSPI - Indian Steel Price Index

Long Products
Category 26-May 27-May Change %

PI - TMT 6767 6747 -20 -0.3%

PI - WRC 7396 7359 -37 -0.5%

PI - Angle 6550 6539 -11 -0.2%

PI - Channel 6654 6644 -11 -0.2%

PI - Joist 6155 6146 -10 -0.2%



PI - Product Index

Flat Products
Category 26-May 27-May Change %

PI - Narrow Plates 7799 7799 0 0.0%

PI - Wide Plates 8187 8187 0 0.0%

PI - Hot Rolled 8023 8023 0 0.0%

PI - Cold Rolled 9128 9123 -5 -0.1%

PI - Galvanized 8770 8770 0 0.0%



PI - Product Index

To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html

You can also get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

For registration click or copy the link and paste it to your internet explorer address bar

http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

HR steel prices down in Ludhiana

HRC
Tube
2.5x1250
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kolkata 0

Ludhiana -363

Mumbai 0



Change is on 27th May as compared to 26th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

For registration click or copy the link and paste it to your internet explorer address bar

http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

India to launch USD 11 billion infra debt fund

As per the reports India is planning to float debt funds of USD 5 to USD 11 billion each to fund highways and other large infrastructure projects further to a similar fund announced last week.

The government aims to spend about USD 500 billion in the five years to end March 2012 to overhaul

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Shree cement forays into Solar Power sector

It is reported that Shree Cement shall foray into solar power sector and set up plants to generate 50 MW in Rajasthan at a cost of INR 750 crore.

As per the reports investment for the proposed venture could be around INR 750 crore according to industry thumb rule as it needs about INR 15

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Gujarat NRE set to begin work on AP coke project

Gujarat NRE Coke Limited producer of low ash metallurgical coke is all set to begin work on its INR 800 crore Greenfield coke plant at Ativaram village in Nellore district of Andhra Pradesh.

Mr Arun Kumar Jagatramka CMD of Gujarat NRE as saying that “The work on the project would

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Gestamp Automotive inaugurates new facility in Pune

Gestamp Corporation a leading global player in automobile components steel service centers and renewable energy sectors inaugurated its state of art manufacturing facility Gestamp Automotive India in Chakan near Pune.

The plant their first wholly owned facility in India will manufacture

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PGCIL norms to hit Chinese suppliers - Report

It is reported that the state run Power Grid Corp of India Ltd has made it mandatory for equipment suppliers to have factories in India to participate in its tenders, adding the move will hurt Chinese firms.

The newspaper quoted the transmission company's chairman as saying that poor after

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JSW Steel denies acquisition of stake in Rathi Bars

JSW Steel clarified that no proposal for acquiring of majority stake in Rathi Bars is currently under our consideration.

The aforesaid clarification was with respect to the media reports stating JSW Steel acquire majority stake in Rathi

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Cut your project costs by optimizing steel purchases

Steel purchase is always a big ticket item in all projects and project managers and purchase in charge are normally looking to buy their steel requirements at correct market prices in time to meet their deadlines.

But, as the purchase managers are busy in sourcing too many items, many of

More Info

SAIL and POSCO JV in stake tussle - Report

The Telegraph reported that Steel Authority of India Ltd wants its planned joint venture with POSCO to be a 50:50 one, while the Korean steel maker will not transfer its proprietary FINEX technology to a company where it does not have majority stake.

Mr SK Roongta chairman of SAIL said that


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POSCO war zone - Fact finding team calls for scrapping project

The Hindu reported that a fact finding team which visited several villages at the site selected for the controversial mega steel plant of POSCO India Private Limited in Orissa's Jagatsinghpur district has demanded the immediate scrapping of the project.

Justice H Suresh former Bombay High

More Info

Wednesday, May 26, 2010

HR steel prices update on May 26

HRC
Tube
2.5x1250
Location Change

Ahmedabad 0

Bangalore 0

Chennai -1049

Delhi 0

Indore 0

Kolkata 0

Ludhiana -272

Mumbai 0



Change is on 26th May as compared to 25th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

For registration click or copy the link and paste it to your internet explorer address bar

http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

GP steel HDG prices crash on May 26

GP
100Gms
0.40
Location Change

Mumbai -1526

Chennai -716

Kolkata 0

Delhi 0

Ludhiana -544

Kanpur -349

Rudrapur 0

Bangalore -453



Change is on 26th May as compared to 25th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

For registration click or copy the link and paste it to your internet explorer address bar

http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Rebar TMT QST price movement in India on May 26

TMT
Fe 415
12mm
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Hyderabad 0

Indore 0

Kanpur -400

Kolkata 0

Mandi -104

Mumbai -344

Raipur -416

Rudrapur -200



Change is on 26th May as compared to 25th May 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

For registration click or copy the link and paste it to your internet explorer address bar

http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Mahindra to buy 55pct stake in Reva Electric Car Company

India's largest utility vehicles and tractor maker Mahindra & Mahindra said it would buy a 55.2 % stake in Reva Electric Car Company.

Mahindra stated that it will buy shares from the founders of Reva. Additionally it will invest in fresh equity worth INR 45 crores.

Reva had said earlier

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Gandhi ashram faces eco threat from steel company - Report

TOI recently reported that a huge signboard at the entrance of INR 1400 crore Uttam Galva Metalics Limited at Barbadi village in Wardha. The new twist to the change that's happening here is ironic because it's likely to cause harm to Bapu Kuti and the cluster of ashrams nearby.

In a clash

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Bellary will be a major steel hub - Mining baron Mr Reddy

Mining baron turned minister G Janardhan Reddy who is hoping to transform the mineral rich district of Bellary into a major steel hub of the country is looking at the soon to be held Global Investors Meet to pave the way.

He exuded confidence that Bellary would corner a major chunk of the

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European crisis effecting Indian economic scenario

The Indian rupee continued its devaluation reeling under the after effect of Euro collapse down 3.8 % in the last week the biggest slide since 11.7% in mid July 1996.

Foreign institutional investors have withdrawn nearly USD 2 billion from Indian stocks so far in May, reducing net inflows

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POSCO war zone - Citizen panel finds cases against anti POSCO false

It is reported that a citizen’s panel demanded immediate withdrawal of police cases against villagers opposed to a project by South Korean steel major POSCO in Orissa.

A fact finding team of the National Citizens Forum led by retired judge of the Bombay High Court justice H Suresh


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Steel plate cuttings prices crash further

Product Grade Size Change

Plate cuttings Rolling 1" -400

Ship Scrap Melting Mixed -300



Change is on 26th May as compared to 25th May 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com

Indian steel price index continues on downward trend

The Indian Long Product Price Index ILPPI went down by 24 points whereas Indian Flat Product Price Index IFPPI went down by 39 points. The overall Indian Steel Price Index INDSPI went down by 32points

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TATA Steel announces results for the FY 2009-10

TATA Steel Limited declared audited consolidated group financial results for the financial year ending March 31st 2010. Group Performance Highlights

1. TATA Steel Group reported a major improvement in profitability in the second half with consolidated EBITDA of INR 8,734 crores (USD 1,944

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Tuesday, May 25, 2010

Wide steel plate price movement on May 25

PLTS
GR B
12-20x2.5
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore -855

Kanpur 0

Kolkata 0

Mumbai 0

Raipur 0

Rudrapur 0



Change is on 25th May as compared to 24th May 2010
Change is in INR per tonne

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Narrow HR steel plate prices down in Indore

PLTS
GR A
8x1250
Location Change

Chennai 0

Kanpur -174

Mumbai 0

Rudrapur -262



Change is on 25th May as compared to 24th May 2010
Change is in INR per tonne

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Sponge iron prices remain flat on May 25

Sponge iron
Location Change

Bellary 0

Kolkata 0

Raigarh 0

Raipur 0

Rourkela 0



Change is on 25th May as compared to 24th May 2010
Change is in INR per tonne

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Rebar TMT QST price movement in India on May 25

TMT
Fe 415
12mm
Location Change

Ahmedabad -200

Bangalore 0

Chennai 0

Delhi 0

Hyderabad 0

Indore 0

Kanpur 0

Kolkata 0

Mandi 0

Mumbai 0

Raipur 0

Rudrapur 0



Change is on 25th May as compared to 24th May 2010
Change is in INR per tonne

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GP steel HDG price down in Ludhiana

GP
100Gms
0.40
Location Change

Mumbai 0

Chennai 0

Kolkata 0

Delhi 0

Ludhiana -363

Kanpur 0

Rudrapur 0

Bangalore 0



Change is on 25th May as compared to 24th May 2010
Change is in INR per tonne

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Steel light channel prices updates on May 25

CHNL
GR A
75/100
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur -200

Kolkata 0

Mandi 0

Mumbai 0

Raipur 0

Rudrapur -200



Change is on 25th May as compared to 24th May 2010
Change is in INR per tonne

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Gopalpur port project on track despite Noble pullout

The Government and Port Official said that the INR 2,500 crore Gopalpur port project in Orissa is on track despite the Hong Kong based Noble group’s decision to pull out from the project.

Mr Satyabrata Sahu state commerce and transport secretary said that “There is no threat to

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JSW Steel and Ispat mull price cut in June

JSW Steel Ltd said on Monday it may consider cutting prices of its flat products in June due to falling international steel prices.

Mr Ashok Bharadwaj director marketing head of Ispat Industries also said that they will also look at cutting prices in June on lower raw material

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SAIL may cut flat steel product prices

PTI reported that state run Steel Authority of India may cut flat steel product prices by INR 1,500 to INR 2,000 per tonne from June 1.

Mr RK Shrivastava assistant GM flat steel of SAIL told reporters "The domestic inventory has piled up following rising imports and hence the price cut is

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POSCO war zone - Survey starts despite opposition from locals

Determined to push the controversial POSCO project near, Orissa Government launched the socio-economic and forest land survey at the plant site despite opposition from locals.

Jagatsinghpur Collector Mr NC Jena said that "Eight survey teams have reached the plant site and initiated the

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TATA Power to expand its overseas coal mines

TATA Power Company said that it is looking at expanding its coal mines abroad, and may raise some funds in the next fiscal to finance its projects under the pipeline.

Mr Prasad Menon MD of TATA Power told reporters that "We are looking for expansion (of mines) whether it is in Indonesia or

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BHEL signs MoU with National Oil Well Varco

The Hyderabad unit of power equipment maker, Bharat Heavy Electricals Limited has signed a memorandum of understanding with National Oil Well Varco a US based oil and gas drilling equipment firm to build 35 land drilling rigs in phases.

BHEL in a statement said that “AC technology

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Revision of administered price of natural gas n India

The Union Cabinet approved revision of the Administered Price Mechanism price of natural gas from the present level of INR 3200/mscm to INR 6818/mscm. For customers in the North East 40% of the price would be provided as subsidy by Government.

As per the reports the price of natural gas

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GAIL announces FY 2009-10 results

GAIL (India) Limited has recorded sustained performance in key physical as well as financial parameters in the Financial Year 2009-10. According to the audited figures, Turnover in the year 2009-10 increased by 5% to INR 24,996 crore from INR 23,898 crore in FY 2008-09.

The Profit Before

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Russia to help Bangladesh set up nuclear power plants

Bangladesh said that Russia had formally agreed to assist the energy starved South Asian country in building nuclear power plants.

A Foreign Ministry Spokesman said that "An agreement on cooperation for the peaceful use of nuclear energy to meet the growing power demand in the country was

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Kalyani Steel recommends dividend for 2009-10

It is reported Kalyani Steels Ltd board of directors at its meeting held on May 24 2010 inter alia has recommended a dividend of INR 1.25 per Equity Share ie 25% subject to approval of the shareholders.

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POSCO war zone - Agriculture minister extend cooperation to finalize packages

The members of the United Action Committee a purportedly pro POSCO outfit in the project site area has conducted its meeting with the cooperation of Agriculture Minister and local legislator to discuss about the compensation of betel vine, prawn gheris, trees and other assets to be presented

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HCC bags wins INR 888 crore order from NPCIL

Hindustan Construction Company said it has secured INR 887.92 crore order from the Nuclear Power Corporation of India.

The order is for the construction of miscellaneous buildings, including finishing works for two units of Rajasthan Atomic Power Project in Kota.

The project is to be

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Macroeconomic indicators - Indian imports jump by 43 pct

It is reported that India's imports surged by a never seen before USD 8 billion in April indicating the rapid pace of domestic economic activity even as the government downplayed the 36.2 % jump in exports.

Mr Rahul Khullar commerce secretary said that The "real interesting story here is

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Monday, May 24, 2010

Pencil ingot price restarts down movement on May 24

Pencil ingot
Location Change

Ahmedabad -300

Bhiwari -400

Durgapur -91

Ghaziabad -200

Hyderabad -500

Jaipur -500

Jamshedpur 0

Kanpur 0

Kolkata 544

Mandi -363

Mumbai -500

Muzzafarnagar -174

Nagpur -181

Raigarh -181

Raipur -181

Rourkela 0

Rudrapur 0



Change is on 24th May as compared to 21st May 2010
Change is in INR per tonne

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Indian steel price index down by 44 points on week opening

The Indian Long Product Price Index ILPPI went down by 3 points whereas Indian Flat Product Price Index IFPPI went down by 90 points. The overall Indian Steel Price Index INDSPI went down by 44 points

Class 21-May 24-May Change %

ILPPI 6983 6980 -3 0.0%

IFPPI 8407 8317 -90 -1.1%

INDSPI 7661 7617 -44 -0.6%



ILPPI – Long Product Price Index
IFPPI – Flat Product Price Index
INDSPI – Indian Steel Price Index

Long Products
Category 21-May 24-May Change %

PI - TMT 6801 6799 -2 0.0%

PI - WRC 7433 7424 -9 -0.1%

PI - Angle 6574 6593 20 0.3%

PI - Channel 6672 6675 3 0.0%

PI - Joist 6173 6176 3 0.0%



PI – Product Index

Flat Products
Category 21-May 24-May Change %

PI - Narrow Plates 7942 7826 -116 -1.5%

PI - Wide Plates 8345 8253 -92 -1.1%

PI - Hot Rolled 8145 8052 -93 -1.1%

PI - Cold Rolled 9228 9166 -62 -0.7%

PI - Galvanized 8957 8858 -100 -1.1%



PI – Product Index

To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html

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Steel melting scrap prices dive across India on May 24

Melting scrap
80:20
HMS
Location Change

Chennai -453

Hyderabad 0

Kandla -200

Kanpur 0

Kolkata 453

Mandi -453

Mumbai -200

Rudrapur 0



Change is on 24th May as compared to 21st May 2010
Change is in INR per tonne

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Steel plate cuttings prices down at Alang

Product Grade Size Change

Plate cuttings Rolling 1" -200

Ship Scrap Melting Mixed -100



Change is on 24th May as compared to 21st May 2010
Change is in INR per tonne

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Gontermann Peipers profit doubles in 2009-10

It is reported that Gontermann Peipers India an Ispat group company has reported a 100 increase in PAT to INR 5.13 crore during 2009 to 2010. However the company's board has only recommended preference dividend on the 6 % cumulative optionally convertible redeemable preference shares.

The

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Gammon India profit in Q4 down by 25pct

Gammon India disclosed a steep drop in standalone net profit for the quarter ended March 2010. During the quarter the profit of the company declined 24.56% to INR 547.90 million from INR 726.30 million in the same quarter previous year.

As per the reports Net sales for the quarter declined

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Balmer Lawrie profit in Q4 down by 9pct

Balmer Lawrie & Company reported a marginal decline in standalone net profit for the quarter ended March 2010. During the quarter the profit of the company declined 8.72% to INR 255.40 million from INR 279.80 million in the same quarter last year.

As per the reports the company’s net

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Kolkata Port Trust appoints Mr Ranade as deputy chairman

It is reported that Mr Ajay M Ranade an IPS officer of 1995 batch and belonging to West Bengal Cadre has taken over as the Deputy Chairman of Kolkata Port Trust in charge of Kolkata Dock System.

Prior to this he was DIG CID West Bengal. Mr Ranade succeeds Mr A Majumdar an officer of Indian

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Suryachakra to set up power project in Chhattisgarh

Suryachakra Power Corporation said that it has entered into an agreement with the government of Chhattisgarh and Chhattisgarh State Electricity Board to set up a coal based power project in the state.

As per the reports Suryachakra is setting up a 350 MW super critical coal based thermal

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IRB Infrastructure bags NHAI order

IRB Infrastructure Developers today announced that it has secured a project from National Highway Authority of India being the selected bidder.

As per the reports the project work includes design, build, finance and operation of six lanning of Tumkur Chitradurga section from km 75 to km 189

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Defense Ministry promises more orders for Hindustan Shipyard

Mr R K Singh Secretary of Defense Production stated that Hindustan Shipyard Ltd which from this year is under the administrative control of the Ministry of Defense will be provided additional funds for modernization and a financial restructuring package is also on the anvil. It will also more

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Navy threatens to cancel NOC to Vallarpadam project

Close on the heels of objections raised by the Finance Ministry over the Special Economic Zone status for the Vallarpadam project the Southern Naval Command has come out against the project threatening to cancel the NOC it had given earlier.

The refusal by the Shipping Ministry to transfer

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Macroeconomic indicators - Exports post staggering 36 pct jump

The economic crisis worn exports sector posted a staggering 36.2 % growth in April to USD 16.9 billion but the government tempered the euphoria saying growth appeared large due to last year's poor showing.

As per the reports last April exports had shrunk nearly 30 % to USD 12.4 billion in

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RINL inaugurates Customer Information System

It is reported a Customer Information System which enables Visakhapatnam Steel Plant’s customers to view their transactions online developed inhouse was inaugurated by Mr P Madhusudhan Director Finance.

An exclusive Kiosk with touch screen facility was installed for this purpose in

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Jharkhand clears iron ore PL for ArcelorMittal project

Indian Express reported that unfazed by reports of ArcelorMittal plans of relocating its mega 10 million tonne steel project within Jharkhand, the state government has once again cleared the prospecting licence of 416.93 hectares of iron ore bearing land in Karampada mines in favor of his

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Essar Shipping starts operation of bulk terminal at Hazira

Essar Shipping Ports & Logistics Ltd commences commercial operations of Essar Bulk Terminal at Hazira, one of India’s largest dry bulk terminals set up at a cost of approx INR 800 crores

The terminal, with a 550 meter long berth, is capable of accommodating larger vessels directly

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Citigroup upgrades SAIL rating to Hold

Citigroup upgrades the rating of Steel Authority of India to Hold with a target price of INR 234. SAIL has risen 75% in the past 12 months but has underperformed TATA Steel/JSW Steel. SAIL has 100% captive iron ore but only 5% coking coal.

Based on flat steel prices rising trend in coal

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POSCO war zone - Steel misters advises POSCO CEO to be generous to land losers

FE reported that POSCO was nudged by the central government to settle for a smaller land parcel than the 4,004 acres it had bargained for with the Orissa government.

Mr Virbhadra Singh Indian steel minister told reporters in Delhi on Friday that he had told POSCO India chief Mr Chung

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Kalyani Steels announces 2009-10 result

Kalyani Group firm Kalyani Steels Ltd reported a net profit of INR 43.33 crore for the year ended March 31st 2010. The company had a net profit of INR 3.30 crore for the year ended March 2009.

Kalyani Steels in a filing to the Bombay Stock Exchange said that "In view of the demerger of the

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POSCO war zone - Jagatsinghpur MP wants survey deferred

Express News Service reported that CPI MP from Jagatsinghpur Mr Bibhu Prasad Tarai has demanded that the final phase of survey for the POSCO steel plant project should be deferred till as negotiation process with the local affected is slated to start.

In a letter to the chief minister Mr

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Indian steel majors bulk under abysmal market conditions

The day of reckoning arrived with steel majors ESSAR and SAIL finally acquiescing with a price reduction of INR 1000 per tonne to INR 1500 per tonne in flat products.

As per market reports, Essar steel reduced prices of HRC, CRC & GPC by INR 1000 per tonne ,whereas SAIL announced a rebate

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Sunday, May 23, 2010

Bharat Forge Q4 revenues up 92pct

Bharat Forge the flagship company of the USD 2.4 billion Kalyani Group and a leading global supplier of forged and machined components announced its Q4 & FY20 10 results.

For Q4 FY10, standalone revenues registered strong growth of 92.3% increasing from INR 2.93 billion to INR 5.52 billion.

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Goa industry mulls conveyor belts to transport ore

An industry insider said that mining industries in Goa are mulling the possibility of setting up a network of conveyor belts to transport ore from the mining pits to the port from where it is exported.

Mr Glen Kalavampara secretary of the Goa Mineral Ore Exporters Association said that a

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SC notice to state on JSW mine plea

The Karnataka government’s much touted Mineral Policy 2008 has run into another controversy with JSW Steel, the country’s largest steel maker in the private sector, dragging the government to the Supreme Court for not allotting it a captive mine.

The apex court has issued a

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Monday Market Monitor - Metals - WEEK 20 - Tumble on Greek woes

Base metals at LME slumped last week on concern the European debt crisis may derail the global economic recovery, dimming prospects for metals demand.

Metals also tumbled after sales of new homes in Shanghai slowed to a five year low last week, raising concern that property demand will continue to slide after China increased minimum mortgage rates, restricted pre sales by developers and tightened controls on purchases of second and third properties.

China is reining in monetary policy to slow its red hot growth, and investors fear this could hit the demand outlook.

Germany approved on Friday its contribution to a USD 1 trillion safety net for blighted euro zone nations, but Spanish workers raised the prospect of fresh unrest after a union said it would probably try to call a general strike.

Mr Randy North a trader at RBC Capital Markets told Reuters “The dollar is a bit weaker, that's helping but sentiment still seems to be negative. Everybody's tentative, it's just short covering interest, there's no fresh longs coming into the market,”

London Metal Exchange Rates
Cash Buyer
Product 13-May 20-May Change %

Zinc 2073 1817 -256 -12%

Nickel 22675 21045 -1630 -7%

Tin 17625 17105 -520 -3%

Aluminium 2116 1947 -169 -8%

Copper 7010 6499 -511 -7%



Change is on May 20th 2010 as compared to May 13th 2010
In USD per tonne

1. Zinc

London Metal Exchange Rates
Cash Buyer
13-May 17-May 18-May 19-May 20-May

2073 1967 1893 1822 1817



In USD per tonne

Date Rate Period Change

20-May 1817

13-May 2073 WoW -12.33%

22-Apr 2385 MoM -23.82%

19-Feb 2250 QoQ -19.24%

20-May'09 1448 YoY 25.48%



In USD per tonne

2. Nickel

London Metal Exchange Rates
Cash Buyer
13-May 17-May 18-May 19-May 20-May

22675 21025 21470 21050 21045



In USD per tonne

Date Rate Period Change
Date Rate Period Change

20-May 21045

13-May 22675 WoW -7.19%

22-Apr 26980 MoM -22.00%

19-Feb 20230 QoQ 4.03%

20-May'09 12430 YoY 69.31%



In USD per tonne

3. Tin

London Metal Exchange Rates
Cash Buyer
13-May 17-May 18-May 19-May 20-May

17625 17650 17100 17100 17105



In USD per tonne

Date Rate Period Change

20-May 17105

13-May 17625 WoW -2.95%

22-Apr 18815 MoM -9.09%

19-Feb 16645 QoQ 2.76%

20-May'09 13950 YoY 22.62%



In USD per tonne

4. Aluminium

London Metal Exchange Rates
13-May 17-May 18-May 19-May 20-May

2116 2010 2005 1968 1947



In USD per tonne

Date Rate Period Change

20-May 1947

13-May 2116 WoW -7.99%

22-Apr 2293 MoM -15.09%

19-Feb 2076 QoQ -6.21%

20-May'09 1451 YoY 34.18%



In USD per tonne

5. Copper

London Metal Exchange Rates
Cash Buyer
13-May 17-May 18-May 19-May 20-May

7010 6720 6605 6465 6499



In USD per tonne

Date Rate Period Change

20-May 6499

13-May 7010 WoW -7.29%

22-Apr 7661 MoM -15.16%

19-Feb 7086 QoQ -8.28%

20-May'09 4539 YoY 43.20%



In USD per tonne

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

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

Input Materials
A. Domestic
Product Locations

Ship Scrap Alang

Melting scrap Chennai, Hyderabad, Kandla, Kanpur, Kolkata, Mandi, Mumbai, Rudrapur

Plate cuttings Alang

Sponge iron Bellary, Kolkata, Raigarh, Raipur, Rourkela

Pig Iron Agra, Jallandhar, Kolkata, Raipur

Iron ore Barbil ,Bellary

Pencil ingot Ahmedabad, Bhiwari, Durgapur, Ghaziabad, Hyderabad, Jaipur, Jamshedpur, Kanpur, Kolkata, Mandi, Mumbai, Muzzafarnagar, Nagpur, Raigarh, Raipur, Rourkela, Rudrapur

Billet Hyderabad, Kanpur, Kolkata, Mandi, Mumbai, Raipur, Rudrapur

Bloom Kanpur, Kolkata, Mandi, Rudrapur



Updation: Daily

B. International
Product Location

Scrap Rotterdam, Turkey

Iron ore Indian Ports

Billets CIS, China & Turkey



Updation: Weekly

Long Products
Product Locations

Rebars Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Indore, Kanpur, Kolkata, Mandi, Mumbai, Rudrapur

Wire Rods Chennai, Delhi, Kanpur, Kolkata, Raipur, Rudrapur

Sections Ahmedabad, Bangalore, Chennai, Delhi, Indore, Kanpur, Kolkata, Mandi, Mumbai, Raipur, Rudrapur



Updation: Daily

B. International levels
Product Location

Rebars CIS, China, Turkey

Wire Rods CIS, China, Turkey



Updation: Weekly

Flat Products
A. Domestic levels
Products Locations

HR Ahmedabad, Bangalore , Chennai, Delhi, Indore, Kanpur, Kolkata, Ludhiana, Mumbai, Pune, Rudrapur

CR Ahmedabad, Bangalore, Chennai, Delhi, Indore, Kanpur, Kolkata, Mumbai, Pune, Rudrapur

HDG Ahmedabad, Bangalore, Chennai, Delhi, Indore, Kanpur, Kolkata, Mumbai, Pune, Rudrapur

Plates Ahmedabad, Bangalore, Chennai, Delhi, Indore, Kanpur, Kolkata, Mumbai, Raipur, Rudrapur



Updation: Daily

B. International levels
Product Location

HR CIS , China

CR CIS , China

HDG CIS , China

Plates CIS , China & India



Updation: Weekly

Others

Pipes
Black pipes Heavy and GI pipes Medium
Delhi Kolkata, Chennai, Ludhiana and Mandi
Size

1/2"

3/4"

1"

1 1/4"

1 1/2"

2"

2 1/2"

3"

4"

5"

6"



Updation: Daily

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

If you would like two or more access licenses to www.steelprices-europe.com for your company, a multi-user license is required and is more cost effective and easier to manage than having numerous individual subscriptions. The rate chart is as under

If you would like two or more access licenses to Steelprices-india.com for your company, a multi user license is required and is more cost effective and easier to manage than having numerous individual subscriptions.

Single 2-5 6-12 13-25 26-40 40-60

60000 120000 200000 400000 600000 800000



In INR +10.03% Service Tax

Single 2-5 6-12 13-25 26-40 40-60

1500 3000 5000 10000 15000 20000



In USD

How to subscribe
Register at www.steelprices-india.com and pay on line or ask for invoice. You can also send mail to admin@steelprices-india.com.

Jindal Power plans power project in Nepal

PTI reported that Mr Naveen Jindal led Jindal Power is looking to set up a hydro power project in Nepal at an estimated cost of INR 1,500 crore as part of its multi-billion dollar program in the energy space.

Mr Sushil Maroo deputy MD of Jindal Power told PTI that "In Nepal, we have got a

TATA Steel not happy with progress of Greenfield projects

According to Mr H M Nerurkar MD of TATA Steel TATA Steel is not happy with the progress of its Greenfield projects.

Mr Nerukar said that the irresponsible behavior of business organizations has created skepticism among the people and there was a need to address this issue while setting up

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Updated status on progress of steel projects in India

A strategic overview of steel projects in India by SNRS, originally published in October 2009 and partially updated in January 2010, is available now.

The report covers all the issues concerning Indian steel sector and market dynamics.

In particular, it addresses new steel projects and

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Indian steel production will double in two years - Minister

India will double its steel production in the next two years even if the big ticket POSCO and ArcelorMittal projects do not take off.

The report quoted Mr Virbhadra Singh steel minister as saying that “At present, the steel production is 59.9 million tonnes. By 2011-12, it should

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Maharatna status to help SAIL expand globally - Mr Roongta

State owned SAIL which is eyeing partnerships with global firms like POSCO said that the Maharatna status will help it expand operations worldwide.

The government had, last week, approved the granting of the coveted Maharatna status to the country's largest steelmaker. However, the

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Monday Market Monitor - India - WEEK 20 - Longs seem to have hit bottom

The steel prices in Indian domestic market for both long products and flat products have been sliding since beginning of April 2010 every day although the reduction in long product prices is much more than that in flat products.

The domestic steel prices in India seem to have hit a dead end

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Friday, May 21, 2010

SAIL RSP bags Srishti Good green award

Rourkela Steel Plant has bagged the prestigious Srishti Good Green Governance Award for the year 2009.

The award is in recognition of RSP’s eco friendly efforts on steel making which include control in air pollutant emissions, effluent discharge, maximization in waste utilization,

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Unused PSU land to rescue stalled steel projects

In an innovative move the ministry of heavy industries and public enterprises has formulated a list of state owned companies that are not using their large land banks. This would be made available for projects delayed due to land acquisition issues.

To start with it is working with the

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Pencil ingot prices on upward movement in major places

Pencil ingot
Location Change

Ahmedabad 600

Bhiwari 300

Durgapur 181

Ghaziabad 300

Hyderabad 0

Jaipur 500

Jamshedpur 300

Kanpur 0

Kolkata -91

Mandi 363

Mumbai 300

Muzzafarnagar 262

Nagpur 181

Raigarh 181

Raipur 181

Rourkela 181

Rudrapur 0



Change is on 21st May as compared to 20th May 2010
Change is in INR per tonne

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WSD rankings of Indian steel makers as of January 2010

Factor Weight SAIL JSW Steel TATA Corus Essar RINL

Annual Shipments in Million tonnes 14 7 25 8 3

Size 0.06 5 4 7 4 3

Expanding capacity 0.06 10 10 9 10 10

Location in high-growth markets 0.06 10 10 7 9 10

Dominance in mature markets 0.04 1 1 5 3 1

Downstream businesses 0.04 6 4 6 4 4

M&A. Alliances and JVs 0.06 7 9 9 10 2

Harnessing tech revolution 0.06 7 8 7 7 5

Environment and safety 0.04 9 9 9 9 9

Country risk factor 0.06 7 7 9 7 7

"Pricing Power" with large buyers 0.06 8 5 8 6 6

Threat from nearby competitors 0.04 7 7 6 6 7

Conversion costs; yields 0.05 5 10 8 8 8

Cost-cutting efforts 0.04 10 7 6 6 6

Raw material costs 0.03 8 8 6 6 6

Iron ore mines 0.03 10 9 9 7 5

Coking coal mines 0.03 4 4 3 3 2

Location to procure raw materials 0.03 9 8 8 7 6

Labor costs 0.04 9 10 7 8 10

Skilled and productive workers 0.03 6 9 8 7 6

Liabilities for retired workers 0.03 9 9 7 9 9

Energy costs 0.04 6 7 6 6 6

Profitability (2009) 0.04 8 5 5 4 8

Balance sheet 0.03 10 5 6 5 9

Average Score 7.43 7.17 7 6.57 6.3

Ranking 4 7 10 10 27

Weighted Average Score 7.41 7.24 7.17 6.74 6.31

Ranking 2 7 10 20 30



All companies included in this list, in WSD's opinion, are positioned to be winning performers in the future.

The purpose of the rankings are to better understand the companies' attributes rather than to imply that one company is better or more worthy than another.

The rankings reward pro active management, size, and integration from raw materials to downstream businesses. The ranking system is subjective and duplicative.

World Class non Chinese companies represent about 50% of non Chinese deliveries. World Class Chinese companies represent about 23% of Chinese deliveries.

(Sourced from World Steel Dynamics)

Wide steel plate prices down in Bangalore

PLTS
GR B
12-20x2.5
Location Change

Ahmedabad 0

Bangalore -436

Chennai 0

Delhi 0

Indore 0

Kanpur -174

Kolkata 0

Mumbai 0

Raipur 0

Rudrapur 0



Change is on 21st May as compared to 20th May 2010
Change is in INR per tonne

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Steel plate cuttings prices surge at Alang

Product Grade Size Change

Plate cuttings Rolling 1" 800

Ship Scrap Melting Mixed 200



Change is on 21st May as compared to 20th May 2010
Change is in INR per tonne

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GP steel HDG prices down in Kanpur and Rudrapur

GP
100Gms
0.40
Location Change

Mumbai -218

Chennai 0

Kolkata 0

Delhi 0

Ludhiana 0

Kanpur -349

Rudrapur -436

Bangalore 0



Change is on 21st May as compared to 20th May 2010
Change is in INR per tonne

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HR steel prices movement on May 21

HRC
Tube
2.5x1250
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kolkata 0

Ludhiana 181

Mumbai 0



Change is on 21st May as compared to 20th May 2010
Change is in INR per tonne

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Steel melting scrap price movement on May 21

Melting scrap
80:20
HMS
Location Change

Chennai 0

Hyderabad 0

Kandla -200

Kanpur 87

Kolkata 0

Mandi 272

Mumbai 200

Rudrapur 0



Change is on 21st May as compared to 20th May 2010
Change is in INR per tonne

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CR steel price movement on May 21

CR
DSK
0.63
Location Change

Ahmedabad 0

Bangalore -436

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Mumbai 0

Pune 0

Rudrapur 0



Change is on 21st May as compared to 20th May 2010
Change is in INR per tonne

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POSCO war zone - Orissa CM softens

Express News Service reported that after recent clashes and bloodshed, Orissa government seems to have a change of mind on POSCO project.

Mr Naveen Patnaik chief minister of Orissa adopted softer approach and said that the government would ask POSCO not to insist on acquiring private land

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SAIL may form JVs to buy coal mines overseas

State owned steel maker Steel Authority of India said that if required it may form a joint venture with major steel makers to acquire coal mine assets abroad.

Mr SK Roongta during the Steel Summit organised by the Federation of Indian Chambers of Commerce and Industry said that "The rising

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POSCO war zone - CPI demands shifting of POSCO site

The agitation over steel project of POSCO in Orissa seemed nowhere near its end Friday with the Communist Party of India demanding a change in the location of the Greenfield plant.

Mr AB Bardhan general secretary of CPI, a day after the state government decided to ask POSCO to exclude

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ONGC SAIL NTPC and IOC declared Maharatna

State owned blue chip companies Oil & Natural Gas Corp, SAIL, NTPC and Indian Oil Corp have been declared Maharatna a status that gives them enormous financial powers and greater operational autonomy.

An Official of the Department of Public Enterprises said that the new status empowers

More Info

Wednesday, May 19, 2010

Indian steel price index remain stable on May 19

The Indian Long Product Price Index ILPPI went up by 1 point whereas Indian Flat Product Price Index IFPPI went down by 6 points. The overall Indian Steel Price Index INDSPI went down by 2 points
Class 18-May 19-May Change %

ILPPI 6987 6988 1 0.0%

IFPPI 8433 8427 -6 -0.1%

INDSPI 7676 7673 -2 0.0%



ILPPI - Long Product Price Index
IFPPI - Flat Product Price Index
INDSPI - Indian Steel Price Index

Long Products
Category 18-May 19-May Change %

PI - TMT 6789 6788 -1 0.0%

PI - WRC 7456 7460 4 0.0%

PI - Angle 6568 6572 4 0.1%

PI - Channel 6670 6670 0 0.0%

PI - Joist 6176 6173 -3 -0.1%



PI - Product Index

Flat Products
Category 18-May 19-May Change %

PI - Narrow Plates 7968 7963 -4 -0.1%

PI - Wide Plates 8373 8373 0 0.0%

PI - Hot Rolled 8167 8159 -8 -0.1%

PI - Cold Rolled 9245 9240 -5 -0.1%

PI - Galvanized 9024 9018 -6 -0.1%



PI - Product Index

To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html

You can also get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert

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Sponge iron prices down in Raigarh Raipur and Rourkela

Sponge iron
Location Change

Bellary 0

Kolkata 0

Raigarh -300

Raipur -100

Rourkela -300



Change is on 19th May as compared to 18th May 2010
Change is in INR per tonne

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Pencil ingot price movement in major places on May 19

Pencil ingot
Location Change

Ahmedabad -200

Bhiwari 500

Durgapur -272

Ghaziabad 0

Hyderabad 0

Jaipur -100

Jamshedpur -300

Kanpur 349

Kolkata 0

Mandi 0

Mumbai 0

Muzzafarnagar 0

Nagpur

Raigarh 0

Raipur -91

Rourkela 0

Rudrapur 349




Change is on 19th May as compared to 18th May 2010
Change is in INR per tonne

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POSCO war zone - Orissa CM to review project progress

BS reported that with tension still simmering at POSCO project site following police crackdown on anti displacement activists last week, the administration and opposition parties have gone into overdrive to devise strategies to push their respective agendas.

Mr Naveen Patnaik chief minister

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Essar Steel eying Kandil Steel in Egypt - NDTV Report

NDTV reported that Essar Steel is eyeing is the Egyptian steel market through an acquisition bid on Kandil Steel.

NDTV learnt from company sources that Essar Steel sent initial feelers to Kandil Steel recently and will soon offer a formal proposal to Kandil Steel's management.

But in

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Steel melting scrap prices down in Kandla

Melting scrap
80:20
HMS
Location Change

Chennai 0

Hyderabad 0

Kandla -300

Kanpur 87

Kolkata 0

Mandi 91

Mumbai 0

Rudrapur 0



Change is on 19th May as compared to 18th May 2010
Change is in INR per tonne

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HR steel prices updates on May 19

HRC
Tube
2.5x1250
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kolkata 0

Ludhiana -363

Mumbai 0



Change is on 19th May as compared to 18th May 2010
Change is in INR per tonne

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Essar Steel to commission phase 1 expansion next month

ET reported that Essar Steel will commission the first phase of its INR 13,000 crore expansion project by the end of next month.

Mr Malay Mukherjee CEO of Essar Steel Business Group told reporters on the sidelines of a FICCI Steel Summit that "The first phase of our expansion 1.8 million

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Indian steel majors contemplating price reduction amidst glut and import onslaught

The domestic steel prices in India seem to have hit a dead end in the past couple of weeks. Although the buck started with a dip in scrap and iron ore prices by 15% to 20% in April, the Chinese juggernaut has slowed down reeling under its weight of overproduction and retarded demand.

It is

More Info

Tuesday, May 18, 2010

Steel plate cuttings prices crashes at Alang

Product Grade Size Change

Plate cuttings Rolling 1" -300

Ship Scrap Melting Mixed -200



Change is on 18th May as compared to 17th May 2010
Change is in INR per tonne

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HR steel prices down in Ahmedabad

HRC
Tube
2.5x1250
Location Change

Ahmedabad -453

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kolkata 0

Ludhiana 0

Mumbai 0



Change is on 18th May as compared to 17th May 2010
Change is in INR per tonne

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Sponge iron price up at Bellary on May 18

Sponge iron
Location Change

Bellary 200

Kolkata 0

Raigarh 0

Raipur 0

Rourkela 0



Change is on 18th May as compared to 17th May 2010
Change is in INR per tonne

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Rebar TMT QST price movement in India on May 18

TMT
Fe 415
12mm
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Hyderabad 0

Indore 200

Kanpur 0

Kolkata 0

Mandi 0

Mumbai 0

Raipur 0

Rudrapur 0



Change is on 18th May as compared to 17th May 2010
Change is in INR per tonne

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Wide steel plate price remains flat on May 18

PLTS
GR B
12-20x2.5
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mumbai 0

Raipur 0

Rudrapur 0



Change is on 18th May as compared to 17th May 2010
Change is in INR per tonne

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Steel light channel prices movement on May 18

CHNL
GR A
75/100
Location Change

Ahmedabad -115

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mandi 0

Mumbai 0

Raipur 0

Rudrapur 0




Change is on 18th May as compared to 17th May 2010
Change is in INR per tonne

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Steel angle prices updates on May 18

ANGL
GR A
65X6
Location Change

Ahmedabad -115

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mandi 0

Mumbai 0

Raipur 0

Rudrapur 0



Change is on 18th May as compared to 17th May 2010
Change is in INR per tonne

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CR steel price movement on May 18

CR
DSK
0.63
Location Change

Ahmedabad -453

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Mumbai 0

Pune 0

Rudrapur 0




Change is on 18th May as compared to 17th May 2010
Change is in INR per tonne

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ArcelorMittal may buy Bellary Steels - Report

Three people familiar with the matter said that ArcelorMittal is in talks to buy Karnataka based Bellary Steels & Alloys Ltd, which has been taken over by its lenders after failing to convince them to waive a part of its INR 2,600 crore debt and restructure the rest.

Bellary Steels has a

More Info

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