India: Monnet Ispat now produces only IS:2062 Structure- Source

Central India based Monnet Ispat is now producing only IS: 2062 grades Structural items. Earlier, the plant used to produce commercial grade.

Monnet Ispat & Energy, one of the leading Structure manufacturers, has started now to produce BIS grade i.e. IS: 2062 instead of commercial grade, confirmed by source closer to company’s officials. He also told that plant is producing around 7,000 MT per month of Structural items at present. I-Beam 200 mm is offered at around 33,950/MT Ex-plant Raipur (basic prices, advance payment).

Structure prices in Raipur moved up by INR 200-500/MT during a week’s time.  “Demand had increased after 10Mar, 2014 which is now resulted in price hike,” said a Raipur based trader.

Durgapur based Structure manufacturers pleased with demand. They almost utilized their production capacity and also successfully cleared old stock which was around 1,500 MT. Market participants anticipating that demand may reduce from this level owing to elections which is going to be held from 17 Apr to 12 May, 2014 in West Bengal.

Mumbai based Ghasiram & Vaishnav Ispat show miniature improvement after two weeks stability. Prices moved up by INR 200/MT and offered Angle 40 mm at INR 36,200/MT. Increased prices of Ingot & Scrap are the main causes for Structure price hike. Ingot offers moved up by INR 200/MT from 02 Apr, 2014 and in a week’s time it’s raised by INR 500/MT.

On the other side in Ahmedabad, Structure prices of Grace casting remain unchanged because of limited buying. Improved prices of Alang’s melting Scrap did not affect Structure prices as demand is limited.