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| Indian flat steel products market in an extended impasse - 30 Jul, 2010 | |||||||||||||||||||||||
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Flat product market in India is on an extended dry run for the last 4 months. Domestic and international market sentiments continue to languish with minor hiccups and the fundamentals have largely remained unchanged. The mills have seen their sales volume plummeting by about 60% MoM due to lack of buying. Stockiest are maintaining stocks of not more than a week whereas buying absolutely need based. The price levels in Delhi for HRC INR 34000 per tonne to IN 34500 per tonne plus VAT there are hardly takers. Moreover down the value chain CRC prices from major mills are prevailing in the range of INR 41500 per tonne to INR 42000 per tonne plus VAT is at odds with from re rollers whose material is available at INR 39000 per tonne plus VAT. Likewise the sentiments are replicated at Bangalore and Mumbai. The HRC levels in Bangalore INR 34000 per tonne plus VAT whereas Mumbai at INR 34750 per tonne plus VAT. Mumbai being the epicenter of import is always at a disadvantage. It is reported that imported stock to the tune of 200,000 tonnes remains un liquidated annulling any scope of revival. Although mills have been rolling over the prices month on month deceiving with lucrative rebate and discounts the exercise has proved to be futile. Market is eagerly awaiting price reduction by INR 1000 per tonne to INR 1500 per tonne to bounce back. Every cloud has a silver lining. With the waning of monsoon once the project work resumes the demand will improve providing reprieve. Currently import offers are coming at USD 620 per tonne to USD 625 per tonne are having no takers. Booking is expected to resume around mid August for material likely to arrive in the early October the peak season for consumption. www.steelprices-india.com is a comprehensive portal that provides domestic pricing information for benchmark steel products in each category at select location in India on a regular basis 5 days a week and international price levels on a weekly basis. As steel in each category comes in hundreds of grades shapes and sizes, we have taken benchmark products in each category at select locations to cover the entire basket of garden variety of steel products including input material for steel making and processing. Products covered 1. Input materials - Iron ore, scrap, sponge iron, pig iron pencil ingot, billets and blooms 2. Long products - Rebar, wire rod, angle, channel and joists 3. Flat products - Narrow plates, wide plates, HR, CR and galvanized 4. Others - Pipes Methodology and access 1. Benchmark products in each category with fixed commonly used sizes and grades 2. Base prices or effective, as per market trends 3. Average transaction levels which have settled well, based on continuous interactions with domestic mills, overseas suppliers, importers stockiest & service centers and buyers 4. On fixed market oriented payment terms 5. Daily updates 6. Data available since July 2008 5. Access through web site Price basis Without ED and VAT for all products except for rebar and sections Other features The prices are displayed on weekly and monthly basis. They also have search facilities to access old data from the archives. Graphical representation of trends and comparison of price movement 2 or more products is also available. In addition, you can monitor currency exchange rates, metal prices, BDI for the day as well as access their archives for past data. Other features include converters for weight, length etc, glossary and advanced search functions. The benchmark product price information is supplemented by global pricing news. Subscription charges for 12 months access
How to subscribe 1. Register at www.steelprices-india.com and pay on line or ask for invoice 2. Send mail to admin@steelprices-india.com. 3. Call at 0091-124-3007891/2/3 (Sourced from www.steelprices-india.com) | |||||||||||||||||||||||
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