Structure market moves up sharply as Ingot and Billet prices increase by Rs 1,500-3,500 in a week's time. Structure price improves mainly because of the shortage of Iron ore pellet, Sponge iron and Scrap.
Structure prices in Mumbai hiked by Rs 1,000-1,200/MT in the current week. Meanwhile, Ingot and Billet prices move up by Rs 2,200-2,600/MT.
On the other side Raipur's Structural market sharply improved by Rs 3,000-3,300/MT as 40 angle was offered at Rs 30,000/MT on Saturday (23-08-2013) which is currently offering at Rs 33,300/MT. Raipur Structure prices were last seen at this level in January 2013. However, Billet is offered at Rs 30,000/MT and Ingot at Rs 29,000/MT today. “Price improves on account of costlier raw material and demand is mostly from other states” say market participants.
In Durgapur prices suddenly moved up as well as demand, prices increased by Rs 1,500-2,000/MT in last 3 days. Reason behind the price improvement is good demand from Uttar Pradesh and Assam. Also improvement in export pushed prices up. Billet export to Nepal and Bangladesh in bulk quantity from Durgapur, offers for Nepal at $485/MT CNF.
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