Sliding prices and low demand of semi finish products have reduced Structure offers.

Monnet Ispat Limited, a Raipur-based integrated steel unit with structure mill capacity of 300,000 tonnes per annum, marginally reduced offers by INR 100-200/MT in November, 2013.

Prices marginally dropped because of limited buying. “During the Diwali buying of Structure was good” says a responsible person from the unit. He added that “Currently plant is producing 60-70% of its total capacity.” Today Beam 200 offers by Monnet were at INR 31,400/MT (Basic).

Raipur based local Structure manufacturers reduced their offers in same range i.e. by INR 100-200/MT offering discount up to INR 400/MT as prices of Ingot and Billet slightly fell by INR 100/MT. Angle 50×5 offers at INR 30,700/MT.

Structure prices in Mumbai, registered an improvement of INR 300/MT on increased Ingot and Billet prices. Today ingot and billet prices moved up by INR 300-400/MT. Also, Scrap shortage built an additional pressure on semi finish manufacturers to hike prices.

Today Angle 40×5 offers at INR 34,000/MT that was 33,700/MT on 07 November, 2013.

Market participants do not expect sharp improvement in demand but shortage of raw material might hold the offers more or less in the same range.