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| Monday Market Monitor - India - WEEK 11 - Heat is on - 22 Mar, 2010 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Indian domestic steel prices continued to exhibit strong upward sentiments last week, but some signs of weakening were visible for long products in the later part of the week. After 16 days of mad rush, which started on Holi, the upward movement in the Indian steel market paused for the first time in last 16 days. The prices movement on March 17th 2010 was subdued, especially for long products, but recovery was again seen on Friday. But the frenzied buying of steel both by users and traders, in order to secure there requirements at lower prices and attempt to make huge profits respectively, may continue to fuel the market. Indications of huge price hike in April by Indian steel majors would also continue to prop up the sentiments. As per unconfirmed reports, most of the flat product producers have undertaken mid month price increase of INR 500 per tonne to INR 1000 per tonne and are likely to go for major increase on April opening, citing cost pressures. Since the beginning of March, when Indian steel majors announced their pricing for the month of March, the market prices have surged by more than 10%.During this period Indian Long Product Price Index ILPPI went up by 768 points or 11% to 7537 whereas Indian Flat Product Price Index IFPPI surged by 661 points or 9% to 8234. The overall Indian Steel Price Index INDSPI went up by 717 points or 10% to 7869. This recent surge in market prices have brought up the price levels closer to the PEAK of July-September 2008 with gap narrowing to just about 20% Last week trend
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 March 19th 2010 as compared to March 12th 2010 Alang
Change is on March 19th 2010 as compared to March 12th 2010 Pencil ingot
Change is on March 19th 2010 as compared to March 12th 2010 Pig Iron
Change is on March 19th 2010 as compared to March 12th 2010 Sponge iron
Change is on March 19th 2010 as compared to March 12th 2010 2. Long products TMT Fe 415 12mm
Change is on March 19th 2010 as compared to March 12th 2010 WRC SWR14 5.5/6
Change is on March 19th 2010 as compared to March 12th 2010 ANGL Grade A 65X65X6
Change is on March 19th 2010 as compared to March 12th 2010 CNHL Grade A 75/40
Change is on March 19th 2010 as compared to March 12th 2010 JSTI Grade A 250X125
Change is on March 19th 2010 as compared to March 12th 2010 3. Flat products HRC Tube 2.5x1250
Change is on March 19th 2010 as compared to March 12th 2010 Patra
Change is on March 19th 2010 as compared to March 12th 2010 Plates Grade A 8X1250/1500
Change is on March 19th 2010 as compared to March 12th 2010 Plates GRADE B 12-20X2500
Change is on March 19th 2010 as compared to March 12th 2010 CR DSK 0.63x1000
Change is on March 19th 2010 as compared to March 12th 2010 GC 100Gms 0.4
Change is on March 19th 2010 as compared to March 12th 2010 4. Indian Export Levels Export levels of HDG and PPGI from Indian mills surged further last week Change is on March 19th 2010 as compared to March 12th 2010 Change is in USD per tonne To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com with contact details. This is a paid service with subscription fee of INR 60,000 plus ST for 12 months. This will keep you in tune with daily happenings in Indian and global steel markets for steel prices. Tailor made package with restricted access to match your needs at lower prices are also available. (Sourced from www.steelprices-india.com) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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