Limited buying for Structure results in marginal price decline. Also leading manufacturers reduce their offers in range of INR 100-300/MT.
Topworth Steel & Power Private Limited, a Durg based integrated steel unit with structure mill capacity of 15,000 MT per month kept its Structure prices unchanged.
Structure prices in local market went down by INR 100/MT. Prices dropped on account of falling Billet and Ingot prices. Prices fell by INR 900/MT in a month’s time for both the products. Today Billet prices fell by INR 100/MT but Ingot prices remained unchanged.
Durgapur based manufacturers kept Structure offers unchanged from a month’s time. Angle 40 offers at INR 32,600/MT. During a conversation, Durgapur based local manufacturer says, “Demand is expectable. Also production improved with increasing demand. We expect demand will increase a little bit more from next week. ”
Structure manufacturers based at Hyderabad also kept offers unchanged. Demand is poor in Southern market but constant prices of Semi finish such as Ingot and Billet are not allowing manufacturers to cut Structure prices. Angle 40 is offered at INR 32,500/MT. However, some market participants offered a discount of INR 200-300/MT for the same.
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