Indian Structure Offers hike by 3% W-o-W

During the week, Indian Structure prices increased by 3% i.e. upto INR 900/MT. Improved prices of MS Ingot & Billet resulted in price hike of Structure.

SteelMint assessed that increased prices and shortage of semi finish products have pushed up Indian Structure offers. Market participants are expecting modest price fluctuation in next week.

• Hyderabad Structure prices have increased because of higher offers from Raipur that led them to purchase material from local market.

• Inventory level has increased in Ahmedabad as buyers refusing to purchase material on higher prices.

• A Mumbai based trader confirmed, purchase of around 200 MT IS: 2062 Heavy Angle from Raipur at INR 43,200/MT (including all Ex-Raipur).

• Vaishnav Ispat, one of the leading manufacturers of Mumbai, surges prices upto INR 1,000/MT from beginning of the month. At present, they offered 40 mm Angle at around INR 37,100/MT (basic price).

• BSPL, a well-known brand in Durgapur, kept their offers unchanged for today. The plant majorly supplied material in projects. 50 mm Angle is being offered at INR 40,200/MT (including ED).

RINL is conducting auction for sale of structural materials from its Jaipur stockyard.

• Size: 90X90X6; Grade: IS2062 E250A; Qty: 50 MT
• Size: 90X90X8; Grade: IS2062 E250A; Qty: 60 MT
• Size: 100X100X10; Grade: IS2062 E250A; Qty: 60 MT

Material will be delivered from Jaipur stockyard and buyers have to arrange for transportation from their end.