Indian Steel Prices Index reflected weakness in Indian domestic steel market during last week.. The Indian Long Product Price Index ILPPI and Indian Flat Products Index IFPPI slid by 11 points. As a result, the overall price index INDSPI also dipped by 11 points.
| Class | 17-Jul | 24-Jul | Change |
| ILPPI | 6108 | 6097 | -11 |
| IFPPI | 6996 | 6984 | -11 |
| INDSPI | 6531 | 6520 | -11 |
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 17-Jul | 24-Jul | Change |
| PI - TMT | 5744 | 5725 | -19 |
| PI - WRC | 6736 | 6739 | 3 |
| PI - Angle | 5719 | 5685 | -34 |
| PI - Channel | 5734 | 5734 | -1 |
| PI - Joist | 5366 | 5334 | -32 |
PI - Product Index
Flat products
| Category | 17-Jul | 24-Jul | Change |
| PI - Narrow Plates | 6571 | 6569 | -2 |
| PI - Wide Plates | 6813 | 6806 | -7 |
| PI - Hot Rolled | 6841 | 6824 | -17 |
| PI - Cold Rolled | 7621 | 7613 | -8 |
| PI - Galvanized | 7392 | 7392 | 0 |
PI - Product Index
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The weakness is primarily attributed to sluggish demand from various steel consuming sectors, clearly contradicting the Indian government’s portrayal of the India being the shining star in terms of growth alongside with China. This is much more pronounced for long products, which are at ruling at lowest levels for at least last two years due to scanty demand from infrastructure demand despite Indian governments push for spending.
The scanty rains further augur peril for the already emaciated economy and industry. Independent experts have rung the bell with downward revision of GDP growth rate of 5.8% from the earlier 7% and Industrial Production to 4.8% from 5.1% for 200910.
The Indian government is bound to shift focus to providing succor to the agriculture sector and restrain the inflated consumer price index. As the government is already burdened with huge deficit, the diversion of funds is likely to leave its infrastructure plans high and dry. The plummeting industrial activity and low infrastructure spending will have a cascading effect on the steel consumption causing market depression at least till the end of monsoon.
Input Material - Modest recovery
There was customary recess after prolonged slide although it can be deceptive as turnaround seems fundamentally absent with sagging demand. There was sober recovery in port city of Mumbai as the international prices remains adamant. On the other hand hinterland consumption centres viz., Mandi showed softening as the demand for semis and finished products refused to pick up.
In Ship breaking scrap at Alang saw a positive movement as the market attained stability after streak of slashes and renegotiations during July. Although tempering of volatility cannot be assured immediately in the tumultuous recession.
Melting scrap
80:20
HMS
| Location | Change | % |
| Chennai | -500 | -3.3% |
| Kandla | 89 | 0.5% |
| Mumbai | 600 | 4.2% |
| Mandi | -1269 | -7.5% |
| Kolkata | 0 | 0.0% |
| Kanpur | 89 | 0.6% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
Alang
| Product | Size | Change | % |
| Ships | Mixed | 300 | 2.3% |
| Plate cuttings | 1” | 1100 | 6.7% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
Pencil ingot
| Location | Change | % |
| Mumbai | 400 | 2.0% |
| Mandi | 831 | 3.9% |
| Raipur | 0 | 0.0% |
| Kanpur | 355 | 1.7% |
| Kolkata | -444 | -2.4% |
| Ghaziabad | 400 | 2.0% |
| Muzzafarnagar | -577 | -2.8% |
| Ahmedabad | 600 | 3.0% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
Pig Iron
| Location | Change | % |
| Raipur | 0 | 0.0% |
| Kolkata | -1110 | -6.7% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
Sponge iron
| Location | Change | % |
| Raipur | 0 | 0.0% |
| Kolkata | -711 | -6.0% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
Long Product Prices - At lowest levels
ILPPI level of 6097 as of July 24th 2009 is the lowest since we started this index on July 1st 2008 as the previous lowest level was 6373 on July 16th 2009.
| Class | Date | Index |
| ILPPI | 24-Jul | 6097 |
ILPPI - Indian Long Product Price Index
The YoY change in the Indian Long Product Price Index ILPPI is 38% as compared to 31% in Indian Flat Product Price Index IFPPI and overall reduction of 35%in INDSPI.
| Category | 24-Jul’08 | 24-Jul’09 | Change | % |
| ILPPI | 9874 | 6097 | -3778 | -38% |
| IFPPI | 10153 | 6984 | -3168 | -31% |
| INDSPI | 10007 | 6520 | -3487 | -35% |
ILPPI - Long Product Price Index
IFPPI - Flat Product Price Index
INDSPI - Indian Steel Price Index
TMT
Fe 415
12mm
| Location | Change | % |
| Chennai | -1000 | -3.4% |
| Mumbai | 225 | 0.8% |
| Mandi | 416 | 1.4% |
| Kolkata | -866 | -3.1% |
| Delhi | 1047 | 3.8% |
| Kanpur | 700 | 2.6% |
| Ahmedabad | -675 | -2.5% |
| Indore | 200 | 0.7% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
WRC
SWR14
5.5/6
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Raipur | 0 | 0.0% |
| Kolkata | -385 | -1.4% |
| Delhi | 462 | 1.6% |
| Kanpur | 0 | 0.0% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
ANGL
GR A
65x6
| Location | Change | % |
| Chennai | -800 | -2.7% |
| Mumbai | 225 | 0.8% |
| Mandi | 416 | 1.3% |
| Raipur | 0 | 0.0% |
| Kolkata | -1082 | -3.7% |
| Delhi | 520 | 1.9% |
| Kanpur | 0 | 0.0% |
| Ahmedabad | 225 | 0.8% |
| Indore | -100 | -0.4% |
| Bangalore | 0 | 0.0% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
CHNL
GR A
75/100
| Location | Change | % |
| Chennai | -500 | -1.7% |
| Mumbai | 225 | 0.8% |
| Mandi | 416 | 1.3% |
| Raipur | 0 | 0.0% |
| Kolkata | -541 | -1.9% |
| Delhi | 520 | 1.8% |
| Kanpur | 400 | 1.4% |
| Ahmedabad | 225 | 0.8% |
| Indore | -100 | -0.4% |
| Bangalore | 0 | 0.0% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
JSTI
GR A
250x125
| Location | Change | % |
| Chennai | -500 | -1.7% |
| Mumbai | 225 | 0.8% |
| Mandi | 208 | 0.7% |
| Raipur | 0 | 0.0% |
| Kolkata | -1082 | -3.5% |
| Delhi | 520 | 1.7% |
| Kanpur | 300 | 1.0% |
| Ahmedabad | -416 | -1.4% |
| Indore | -500 | -1.6% |
| Bangalore | 0 | 0.0% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
Flat products - Remains firm
The hurtling price escalation was subdued during last week. There was price reversal in Delhi as the pre budget euphoria vanished squeezing the retail margin while the manufacturers refused to cut prices.
Supply constraint with steel majors like Ispat Industries Ltd operating at 50% capacity and Essar Steel slated for annual maintenance in early August coupled with significant improvement in demand from the automotive and white goods sectors is expected to keep the market on traction in August.
HRC
Tube
2.5x1250
| Location | Change | % |
| Mumbai | 0 | 0.0% |
| Ludhiana | 370 | 1.2% |
| Kolkata | 0 | 0.0% |
| Delhi | -647 | -2.0% |
| Ahmedabad | 0 | 0.0% |
| Indore | 0 | 0.0% |
| Bangalore | 0 | 0.0% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
Patra
| Location | Change | % |
| Ludhiana | 277 | 1.0% |
| Mandi | 1293 | 5.2% |
| Delhi | 462 | 1.8% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
PLTS
GRA
8x1.5
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | 0 | 0.0% |
| Kolkata | 178 | 0.6% |
| Delhi | -462 | -1.5% |
| Kanpur | 267 | 0.9% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
PLTS
GRB
12-20x2.5
| Location | Change | % |
| Chennai | -950 | -3.1% |
| Mumbai | 0 | 0.0% |
| Raipur | 0 | 0.0% |
| Kolkata | 0 | 0.0% |
| Delhi | -462 | -1.5% |
| Kanpur | 178 | 0.6% |
| Ahmedabad | 0 | 0.0% |
| Indore | 0 | 0.0% |
| Bangalore | 0 | 0.0% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
CR
DSK
0.63x1000
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Mumbai | 0 | 0.0% |
| Pune | 0 | 0.0% |
| Kolkata | 444 | 1.2% |
| Delhi | -924 | -2.6% |
| Kanpur | 0 | 0.0% |
| Ahmedabad | 0 | 0.0% |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in INR per tonne
Indian export levels - Rebound on demand revival from MEA and USA
| Item | Grade | Size | Delivery | Change |
| PLTS | Structural | 12-40x2.5 | FOB Vizag | 20 |
| HDG | 100Gms | 0.4 | FOB Mumbai | 10 |
| PPGI | Standard RAL | 0.4 | FOB Mumbai | 0 |
Change is on July 24th 2009 as compared to July 17th 2009
Change is in USD per tonne
Indian import offers
Following deals have been reported
1. 40,000 SAE 1006 grade HRC from CSN at USD 565 per tonne CFR Mumbai
2. 20,000 08KP HRC from Ilyich at USD 465 per tonne FOB Black Sea
3. 15,000 A36 plates from Ilyich at USD 485 per tonne FOB Black Sea
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