India - WEEK 01 - Flats Flutter Longs Languish
The Indian Long Product Price Index ILPPI has gone down by 26 points last week whereas Indian Flat Products Index IFPPI has gone up by 63 points. The overall price index INDSPI declined by 29 points.
In case of long products, while the sections faced weak conditions, wire rod remained stable. However, the rebar prices improved by more than 1% the reasons for which are quite not clear. Nothing has changed on the ground and construction projects are continuing to face severe liquidity issues. Thus without fundamental support from demand side, we are likely to witness downslide in rebar
Taking the signal from the announcements by Indian steel majors, market responded in positive direction especially for HR and plates where the prices improved by almost 1% WoW. While HR price improvement is on low import viability, plate price improvement is due to curtailed domestic supply.
Current HR import offers at USD 550-560 CFR Mumbai with 7.5% import duty translate to just about INR 38000 per tonne as against new domestic levels of about INR 37000-37500 per tonne giving no import opportunities amid currency fluctuation risk.
In case of plates, the surge in domestic prices is much higher due to curtailed availability
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
PI - Product Index
Flat products
PI - Product Index
These indices have base of 10,000 as on July 1st 2008
To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html
To download a presentation please paste this link in your browser
http://www.steelprices-india.com/uploads/Steel_Price_Index_Presentation.ppt
You can now get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at
http://steelprices-india.com/smsalert
1. Input material
Melting scrap
80:20
HMS
Change is on 3rd January 14 as compared to 27th December 13
Change is per tonne
Alang
Change is on 3rd January 14 as compared to 27th December 13
Pencil ingot
Change is on 3rd January 14 as compared to 27th December 13
Change is per tonne
More Info: Monday Market Monitor
The Indian Long Product Price Index ILPPI has gone down by 26 points last week whereas Indian Flat Products Index IFPPI has gone up by 63 points. The overall price index INDSPI declined by 29 points.
In case of long products, while the sections faced weak conditions, wire rod remained stable. However, the rebar prices improved by more than 1% the reasons for which are quite not clear. Nothing has changed on the ground and construction projects are continuing to face severe liquidity issues. Thus without fundamental support from demand side, we are likely to witness downslide in rebar
Taking the signal from the announcements by Indian steel majors, market responded in positive direction especially for HR and plates where the prices improved by almost 1% WoW. While HR price improvement is on low import viability, plate price improvement is due to curtailed domestic supply.
Current HR import offers at USD 550-560 CFR Mumbai with 7.5% import duty translate to just about INR 38000 per tonne as against new domestic levels of about INR 37000-37500 per tonne giving no import opportunities amid currency fluctuation risk.
In case of plates, the surge in domestic prices is much higher due to curtailed availability
| Class | 27-Dec | 03-Jan | Change | % |
| ILPPI | 8781 | 8755 | -26 | -0.30% |
| IFPPI | 8731 | 8794 | 63 | 0.70% |
| INDSPI | 8804 | 8775 | -29 | -0.30% |
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 27-Dec | 03-Jan | Change | % |
| PI - TMT | 8671 | 8771 | 100 | 1.20% |
| PI - WRC | 8937 | 8947 | 10 | 0.10% |
| PI - Angle | 8444 | 8497 | 53 | 0.60% |
| PI - Channel | 8506 | 8433 | -73 | -0.90% |
| PI - Joist | 7746 | 7686 | -60 | -0.80% |
PI - Product Index
Flat products
| Category | 27-Dec | 03-Jan | Change | % |
| PI - Narrow Plates | 8196 | 8261 | 65 | 0.80% |
| PI - Wide Plates | 8482 | 8542 | 60 | 0.70% |
| PI - Hot Rolled | 8397 | 8482 | 85 | 1.00% |
| PI - Cold Rolled | 9326 | 9372 | 46 | 0.50% |
| PI - Galvanized | 9185 | 9205 | 20 | 0.20% |
PI - Product Index
These indices have base of 10,000 as on July 1st 2008
To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html
To download a presentation please paste this link in your browser
http://www.steelprices-india.com/uploads/Steel_Price_Index_Presentation.ppt
You can now get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at
http://steelprices-india.com/smsalert
1. Input material
Melting scrap
80:20
HMS
| Location | Change |
| Bangalore | 0.00% |
| Chennai | 0.00% |
| Hyderabad | 0.00% |
| Kandla | -2.00% |
| Kanpur | 1.00% |
| Kolkata | 0.00% |
| Ludhiana | 1.00% |
| Mandi | 2.00% |
| Mumbai | 0.00% |
| Rudrapur | -1.00% |
Change is on 3rd January 14 as compared to 27th December 13
Change is per tonne
Alang
| Product | Size | Change |
| Plate cuttings | 1" | 4.30% |
| Ships | Mixed | -0.80% |
Change is on 3rd January 14 as compared to 27th December 13
Pencil ingot
| Location | Change |
| Ahmedabad | 3.00% |
| Alang | 0.00% |
| Bhiwari | 1.00% |
| Chennai | 0.00% |
| Durgapur | 0.00% |
| Ghaziabad | 1.00% |
| Hyderabad | 2.00% |
| Jaipur | 1.00% |
| Jamshedpur | 1.00% |
| Kanpur | 0.00% |
| Kolkata | 2.00% |
| Ludhiana | 1.00% |
| Mandi | 0.00% |
| Mumbai | 0.00% |
| Muzaffarnagar | 1.00% |
| Nagpur | 0.00% |
| Raigarh | 0.00% |
| Raipur | -1.00% |
| Rourkela | 1.00% |
| Rudrapur | -1.00% |
Change is on 3rd January 14 as compared to 27th December 13
Change is per tonne
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