Indian Structure offers remained uptick in Week 32 owing to good demand and sharp hike in Semis offers like Ingot/Billet.
During the week, domestic structure offers surged up to INR 800/MT (USD 12) with maximum hike observed in Western Region – Mumbai followed by South – Hyderabad INR 500/MT (USD 8) and Central Region – Raipur INR 400/MT (USD 6). However, no major changes observed in Eastern region – Durgapur.
Indian Structure offers remained relatively on higher end in comparison with other long steel prices due to the seasonal strong demand.
Further, in the same durations heavy structure prices remain unaltered in Raipur – Central region and the rebate amount also firm at INR 200-300/MT (USD 3-5), according to information received by market sources.
However, in Ghaziabad the offers for Heavy structure increase marginally by INR 200/MT amid no major deals.
As per the few small mill owners in Central region, which is the big hub of re-rolling industry, structure prices to remain strong due to supportive demand and higher input cost like costlier Ingot/billet.
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Source: SteelMint Research
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