The domestic Indian Steel Prices declined yesterday also without any brake. The Indian Long Product Price Index ILPPI and Indian Flat Product Price Index IFPPI plummeted by 60 and 135 points respectively. This is the ramification of glut in the market owing to unhindered production by domestic mills and consequent build up of stockpiles. The phenomenon is expected to accentuate in the coming months.
Class | 9-Dec | 10-Dec | Change |
ILPPI | 7211 | 7151 | -60 |
IFPPI | 7053 | 6918 | -135 |
INDSPI | 7136 | 7040 | -96 |
ILPPI – Long Product Price Index
IFPPI – Flat Product Price Index
INDSPI – Indian Steel Price Index
Category | 9-Dec | 10-Dec | Change |
PI - TMT | 7046 | 7021 | -24 |
PI - WRC | 7560 | 7466 | -94 |
PI - Angle | 6867 | 6809 | -59 |
PI - Channel | 6964 | 6906 | -58 |
PI - Joist | 6761 | 6691 | -71 |
Category | 9-Dec | 10-Dec | Change |
PI - Narrow Plates | 6658 | 6538 | -120 |
PI - Wide Plates | 7273 | 7223 | -50 |
PI - Hot Rolled | 6885 | 6735 | -150 |
PI - Cold Rolled | 7575 | 7385 | -190 |
PI - Galvanized | 7217 | 7165 | -52 |