India: Buyers refuse to purchase on regular Price fluctuation

Structural buying is already low because of limited demand from projects and now buyers hold the buying owing to regular price fluctuation.

Regular fluctuation in Structural prices holds the buying. Market players cautiously looking for stability of semi finish prices. Also, Sponge & Scrap prices closely watch by them.

Durgapur: Demand is poor but high prices of semi finish are building pressure on manufacturers to hold their offers unchanged. Increased stock level has pushed the manufacturers to cut around 30% of total production.

Raipur: Raipur’s Structure prices slightly down on increased stock and lesser buying. Some of the well known brand based at central India reduced offers upto INR 500/MT.

Hyderabad: Trade movement is sluggish on Telanghana issue. According to a trader based at Hyderabad, “No deals are taking place from last 2-3 days which led to decline in prices.“

Mumbai: Structure offers in Mumbai also fell in past few days but buying is stable. Mumbai based market players anticipate that market may show cheerful demand after monsoon.

Offers in Ahmedabad & Ghaziabad remain unchanged. Also, market participants expect prices to firm further.

Brand-wise Structure Prices as on 29 May, 2014

Note: Basic prices in INR/MT; Only refrence prices; Prices may vary location wise; Payment cash; Ex-Plant