Structure prices remain unchanged in most of the cities. Manufacturers are not reducing prices because of low availability and limited production of semi finished material.
Structure offers in Mumbai remains firm from past couple of weeks. Semi finished offers fluctuated marginally in the reviewed week by INR 100-200/MT. According to the buyers “We are not able to buy material in bulk or good quantity owing to liquidity shortage. We have to purchase in small quantity or as required“.
In Raipur increasing stock level builds pressure on the manufacturers to cut offers. Following the trend, offers for heavy Structural products also reduced slightly by INR 100-200/MT. Beam 200 was offered at INR 31,900/MT after prices dropped by INR 100-200/MT.
MSP Steels and Power Ltd cut its Structure offers by INR 100-200/MT and offered Channel 100 at INR 31,300/MT (Basic, Ex Plant). However, light Structure prices are unchanged as its demand from fabrication sector is average. Angle 40×5 and 50×5 is offered at INR 31,700/MT and 31,500/MT respectively.
Offers from Durgapur and Ghaziabad also remained unchanged from a week's time. Market participants expect demand to improve in coming days.
Hyderabad Structure offer register INR 200/MT fall today on account of declined semi finish prices. Angle 40 is offered at INR 32,500/MT.
A well known trader based at Mandi Gobindgarh says “Shortage of Sponge Iron and Scrap hold's the prices. We don't expect prices to fall in coming days as production is already on a lower side“. Today Ingot offers were at INR 32,000/MT and Channel 200 at INR 36,000/MT.
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