Structure prices have escalated upto INR 1,000/MT from past few days. Offers in Mumbai are anticipated to increase soon.
Structure prices in Raipur have increased by INR 400-500/MT. Few Central India based plants hiked prices upto INR 800/MT in past few days.
A Raipur based manufacturer who has hiked offers by INR 700/MT said, “We have increased offers as raw material prices are likely to improve more on shortage in coming days. However, if raw material prices will not improve further, we revise our offers as well.”
Structure in Raipur witnessed sudden price hike after Odisha government ordered for the suspension of 26 mines.
Rourkela based market players also reported of increase in Structure prices by INR 800-1,000/MT. During a conversation, a well known trader based at Rourkela told, “As the Rungta Mines raised its Iron ore offers by INR 400-500/MT, Structure prices moved up by INR 800-1,000/MT.”
Structure prices in Gujarat have increased by INR 600-700/MT during the week as melting Scrap prices in Alang boosted by INR 1,500/MT in a week’s time.
In line, Ghaziabad’s heavy Structure manufacturers have hiked offers by INR 400/MT. Limited availability of Ingot & Billet has pushed the prices upward, while finish Long demand is limited.
Maharashtra based manufacturers may hike offers in coming days as Raipur’s offers have moved up and demand in local market is also high. However, Structure prices in Mumbai remain same as it was last week.
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