The long product prices in Raipur showed an uncanny rally by 2%. This unusual development in one of the epicenter of long product business in India piqued players and set rumors agog about an imminent price revival.
The long product price in India has not seen the light of the day for the last 4 months shattering all prophecies whenever attempted.
Change is on July 27th 2010 as compared to July 26th 2010
However this rally seems to be yet again a transitory phase primarily originating from “Gods own hand” in form of monsoon which has been bountiful in this region. This in turn has led to scuttling the mining operations and logistical bottlenecks leading to a shortage thereby pushing the cost up. However this momentary flutter is in no way supported by any demand escalation. Market is expected to take its customary subdued trajectory sooner rather than later.
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.
http://www.steelguru.com/indian_news/Monsoon_keeps_long_product_prices_afloat_in_Raipur/157064.html
