Indian domestic steel prices continue to exhibit weakening sentiments last week. The Indian Long Product Price Index ILPPI decreased by 80 points whereas Indian Flat Products Index IFPPI dipped by 12 points. The overall price index INDSPI decreased by 48 points. Last week reflected that the rate of price fall has reduced albeit.
Class 09-Oct 16-Oct Change %
ILPPI 6132 6052 -80 -1.3%
IFPPI 7493 7481 -12 -0.2%
INDSPI 6780 6733 -48 -0.7%
ILPPI - Indian Long Product Price Index
IFPPI - Indian Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
Category 09-Oct 16-Oct Change %
PI - TMT 5795 5763 -32 -0.6%
PI - WRC 6680 6545 -135 -2.0%
PI - Angle 5823 5752 -71 -1.2%
PI - Channel 5890 5826 -64 -1.1%
PI - Joist 5490 5425 -65 -1.2%
PI - Product Index
Flat products
Category 09-Oct 16-Oct Change %
PI - Narrow Plates 7148 7130 -18 -0.2%
PI - Wide Plates 7247 7245 -1 0.0%
PI - Hot Rolled 7346 7327 -20 -0.3%
PI - Cold Rolled 8072 8076 4 0.1%
PI - Galvanized 7917 7911 -6 -0.1%
PI - Product Index
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1. Input material - No respite
Input materials exhibited a mixed trend across products and locations last week. As per market sources prices of pencil ingot are to face both supply and demand pressure this week and may weaken a bit.
Melting scrap
80:20
HMS
Location Change
Chennai -2%
Kandla -3%
Mumbai 1%
Mandi 2%
Kolkata 2%
Kanpur -4%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
Alang
Product Size Change
Ships Mixed 3%
Plate cuttings 1' 2%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
Pencil ingot
Location Change
Mumbai 1%
Mandi 2%
Raipur 2%
Kanpur -6%
Kolkata -3%
Ghaziabad 0%
Muzzafarnagar 1%
Ahmedabad 2%
Rudrapur -6%
Hyderabad 0%
Raigarh 0%
Durgapur -1%
Nagpur 2%
Jamshedpur -1%
Jaipur 0%
Rourkela 0%
Bhiwari -1%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
Pig Iron
Location Change
Raipur -4%
Kolkata 0%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
Sponge iron
Location Change
Raipur 3%
Kolkata 0%
Bellary -1%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
2. Long products Vacuum continues
Long product prices in India continued southward march last week except at some pockets. Low demand from construction is said to be the culprit and market sources point to the possibility of small upward correction post Diwali, when people resume their buying.
TMT
Fe 415
12mm
Location Change
Chennai 0%
Mumbai 1%
Mandi -1%
Kolkata -4%
Delhi 1%
Kanpur -3%
Ahmedabad 3%
Indore 0%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
WRC
SWR14
5.5/6
Location Change
Chennai 0%
Mumbai 1%
Mandi 0%
Raipur 1%
Kolkata -5%
Delhi -5%
Kanpur -3%
Ahmedabad 3%
Indore -1%
Bangalore 0%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
ANGL
GRADE A
65X65X6
Location Change
Chennai 0%
Mumbai 1%
Mandi -1%
Raipur 1%
Kolkata -4%
Delhi -4%
Kanpur -2%
Ahmedabad 2%
Indore 0%
Bangalore 0%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
CNHL
GRADE A
75/40
Location Change
Chennai 0%
Mumbai 1%
Mandi 0%
Raipur 0%
Kolkata -5%
Delhi -1%
Kanpur -2%
Ahmedabad -1%
Indore -1%
Bangalore 0%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
JSTI
GRADE A
250X125
Location Change
Chennai 0%
Mumbai 1%
Mandi 0%
Raipur 0%
Kolkata -5%
Delhi -1%
Kanpur -2%
Ahmedabad -1%
Indore -1%
Bangalore 0%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
3. Flat products - Chinese threat haunts the market
Chinese threat is playing havoc in the minds of both Indian buyers and sellers, with the former anticipating further fall in import offers and later screaming for imposition of duty to cub imports. All the same, Indian domestic prices of flats are on down trend and it is expected that they will further fall in coming week.
HRC
Tube
2.5x1250
Location Change
Mumbai 0%
Ludhiana -1%
Kolkata 0%
Delhi 0%
Ahmedabad 0%
Indore 0%
Bangalore 0%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
Patra
Location Change
Ludhiana -3%
Mandi -1%
Delhi -6%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
Plates
GRADE A
8X1250/1500
Location Change
Chennai 0%
Mumbai 0%
Kolkata 0%
Delhi 0%
Kanpur -1%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
Plates
GRADE B
12-20X2500
Location Change
Chennai 0%
Mumbai 0%
Raipur 0%
Kolkata 1%
Delhi 0%
Kanpur -1%
Ahmedabad 0%
Indore -1%
Bangalore 0%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
CR
DSK
0.63x1000
Location Change
Chennai 0%
Mumbai 0%
Pune 0%
Kolkata 1%
Delhi 0%
Kanpur -1%
Ahmedabad 0%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
GC
100Gms
0.4
Location Change
Chennai 0%
Mumbai 0%
Kolkata 0%
Delhi 0%
Kanpur -2%
Bangalore 0%
Change is on October 16th as compared to October 9th 2009
Change is in INR per tonne
4. Indian Export Levels -Ominous silence
With prices of input material for coated products coming down, overseas buyers are anticipating further correction in prices of HDG and PPGI. Indian sellers are resisting such moves to protect their margins and no changes were reported in FOB levels last week in general.
Item Grade Size Delivery Change
PLTS Structural 12-40x2.5 FOB Vizag 0
HDG 100Gms 0.4 FOB Mumbai 0
PPGI Standard RAL 0.4 FOB Mumbai 0
Change is on October 2nd as compared to September 25th 2009
Change is in USD per tonne
Indian Import Levels -Chinese offers breaks through the USD 500 mark
Indian buyers have been receiving offers, mainly for HR imports, at lucrative levels from Chinese mills and trading houses but they are anticipating further fall in the offers and as per reports many of them are waiting for such eventuality.
The offers of HRC last week were heard at USD 495 per tonne on CFR basis for tube & structural grade in higher thicknesses. Offers for CR grade HR in lower thicknesses were scare and at higher levels
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(Sourced from www.steelprices-india.com)
Monday, October 19, 2009
Monday Market Monitor - India (WEEK 42) -Agony prolongs
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