Stagnant demand and falling Scrap prices have pushed the Structure offers down by INR 300-400/MT in Ahmedabad & Raipur.
Ahmedabad Structure offers reduced by INR 300/MT on falling prices of melting Scrap. Scrap offers declined by INR 500/MT. Despite of low demand, Structure prices were not reducing earlier owing to stable Scrap prices.
Light Structure prices in Raipur decreased sharply by INR 400/MT, while heavy Structure offers marginally reduced by INR 100/MT. Low buying interest resulted in price correction.
As per SteelMint report, the plant which was previously reported of high inventory now cleared its stock and only offered I-Beam 450 mm at INR 37,100/MT and Channel 400 mm at INR 37,300/MT.
Raipur based trader while commenting on price fall stated, “Demand was not so good as compared to increased prices. Improved Ingot prices were the main reason for price hike. Therefore, Structure offers start declining when Ingot prices decreased.”
Mumbai based Structure manufacturers hold offers at same level. Buying is average and expected more or less same this week.
SAIL invites tender for purchase of around 145 MT angle from Channasandra, Bangalore Stockyard; auction to be held on 25 Apr, 2014.
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City wise Structure Prices as on 22 Apr, 2014 |
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City |
Structure |
Price |
|
Ahmedabad |
40 Angle |
35,500 |
|
75 Channel |
35,700 |
|
|
150 Beam |
36,300 |
|
|
Mumbai |
40 Angle |
37,700 |
|
75 Channel |
38,700 |
|
|
150 Beam |
38,900 |
|
|
Raipur |
50 Angle |
34,100 |
|
75 Channel |
34,600 |
|
|
150 Beam |
35,000 |
|
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Note: All basic Prices, Loading & Taxes Extra |
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