Construction activities are slowed down on account of ongoing state elections resulting in 40-50% consumption fall of Structure.
MSP Steels and Power Ltd, a Raigarh-based integrated steel unit with structure mill capacity of 128,000 tonnes per annum, marginally reduced their structure offers by INR 200-300/MT in this week. Prices are reduced because of the supply to projects are at halt with elections being held. Beam 200 offers stand at INR 31,100/MT (Basic).
Raipur based manufacturers are offering an additional discount on advance payment because of liquidity shortage. During a conversation native manufacturer from Raipur says “Most of the plants struggle to run units on full capacity. In a week maximum 4-5 day units produce Structure and during these days 8 hours of operation put additional pressure on us.”
Today angle 50×5 offered at INR 31,500/MT (Basic) in Raipur.
Mumbai’s Structure prices remains unchanged as Ingot and Billet prices are high. Angle 40×5 offered at INR 34,100/MT (Basic).
Market participants do not expect improvement in demand before elections end. According to a Raipur-based trader demand might boost after elections get over.
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