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| Indian steel price pause lasts 3 days signaling correction - 19 Mar, 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Indian steel market for both long and flat products, which had surged by more than 10% since March beginning, seems to be stabilizing as the daily surge has stopped since March 16th and weakness in input material and long products is being seen for 2 consecutive days. Indian steel buyers have rushed to the market to secure large volumes since March beginning resulting in huge surge in market prices in anticipation of mid term price hike by steel majors. But after March 15th 2010, the fever seems to be receding. Although Indian steel mills remain buoyant on prices, citing cost pressures, trend in last 2 days signal possibility of some correction, especially for long products.
ILPPI - Indian Long Product Price Index IFPPI - Indian Flat Product Price Index INDSPI - Indian Steel Price 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 In absolute terms, price of pencil ingot has taken a beating at almost all locations in last 3 days
Change is in INR per tonne Change is on March 18th as compared to March 15th 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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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