|SteelGuru price index daily SMS alert subscription crosses 20000 - 16 Nov, 2010|
On November 15th 2010, the total number of persons, who have subscribed to the FREE daily SMS alert on their mobile phones, has crossed 20,000. The FREE SMS service was started in June 2009 and it has taken 16 months and 15 days to cross this milestone.|
As the price variation across different categories as well as regions is not uniform on daily basis, it was impossible to gauge the general mood of the market. For example, Rebar price may go up in Chennai but go down at other locations. Also HR prices may go up, while plate prices may come down. In addition to price movement, market size at various locations is another factor as a smaller price variation at a major location would have bigger implications and bearing than a major change at a minor location. In other words, although general statements based on perception can be made that whether prices are up or down, it was not possible to give specific or reality based definite pricing trends and overall implications.
In order to provide an index for steel prices SteelGuru.com decided to work on both long products and flat products for respective category indices as also a composite one for steel. These indices have been built considering their respective weights in the composite categories as also in the shares of sales in the important markets. We have started releasing these indices with effect from July 1st 2008, after taking June 30th 2008 as base of 10000. These price indices outline the way domestic steel market is moving day by day and will help producers, agents in the supply chain, steel buyers, bankers and analysts in their respective businesses.
Indian Steel Price Index INDSPI is derived from
1. Indian Long Product Price Index ILPPI
2. Indian Flat Product Price Index IFPPI
Indian Long Product Price Index ILPPI is derived from
1. PI - Bars & Rods (PI - TMT and PI - WRC)
2. PI - Sections (PI - Angle, PI - Channel and PI - Joist)
Indian Flat Product Price Index IFPPI is derived from
1. PI - Plates (PI - Narrow Plates and PI - Wide Plates)
2. PI - Hot Rolled
3. PI - Cold Rolled
4. PI - Galvanized
The pricing input is from www.steelprices-india.com, which publishes market transaction prices of benchmark products among select locations 5 days a week.
To know more about these indices, please visit
You can now get ILPPI, IFPPI and INDSPI as SMS alert for FREE on mobile by submitting your details at http://steelprices-india.com/smsalert
To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to firstname.lastname@example.org
(Sourced from www.steelprices-india.com)