Indian Ingot/Billet prices fell by INR 100-300/MT in last 2 days, which pressurized Structure sellers to reduce offers.

Falling Semi Finish prices such as Ingot/ Billet pressurized Structure sellers to reduce prices. In last 2 days, prices of Ingot/Billet fell by INR 100-300/MT and in a week’s time by INR 100-500/MT across India.

Mumbai Structure prices increased in starting of this week. But, falling Semi Finish prices resulted in price fall of Structure and reduced by INR 300/MT. While, demand for the material shows stability or slight improvement.

Central India’s Structure manufacturers kept their offers unchanged. Topworth Steel & Power Private Limited offered I-Beam 200 mm at INR 32,500/MT, same as last week.

A highly placed person from Ghaziabad based manufacturing unit said, “In these days, demand is more than average and we are receiving bookings from traders as well as from projects. But, the problem is sudden price fall of Ingot/Billet because of that we had to reduce our Structure offers.  These kind of sudden price falls in peak time make buyers double minded which lead them to wait & watch prices to be stable”, he further added.

Today, Ghaziabad’s Structure offers also reduced by INR 100/MT to INR 35,900/MT for 150 mm I-Beam.