India: Private Projects may support Structure Prices

Structure prices in most of the cities remain unchanged. However, prices in Gujarat have seen marginal fluctuations by INR 100-200/MT on account of scrap prices.

Structure prices in major cities across the country are standing at more or less same levels. Buying for the material was decent last day mentioned market players.

BSPL, a Durgapur based unit having production capacity of 108,000 MTPA has kept its Structure prices same on stable demand.

A well known trader said “we are receiving purchase order on a regular basis and we expect the momentum to remain same. Orders we are receiving are mostly from private players he added.”

L&T has started procuring material for its project starting in Eastern region. Market Participants are of the view that in a month’s time the company is expected to purchase nearly 1,000 MT of Structures for the project.

Rimjhim Ispat, one of the leading Structure manufacturers in Kanpur with production capacity of around 120,000 MTPA has also kept its offers same for the day.

A senior person from the company told “Buying in Northern India has seen a slow down which has resulted in firm prices, slowdown in government projects is considered as the major reason for the situation.”

Structure manufacturer based in Ahmedabad (Grace Casting) reduced its Structure offers by INR 200/MT after increasing the prices last day by same amount. Prices of Scrap in Alang (Gujarat) has improved by INR 300/MT in past 2-3 days.

Offers for Fortune structure in Raipur is standing at same position. However SteelMint learned from the company officials that plant has received booking in good quantity.

Following the suit of unchanged prices Mumbai based manufacturers have also decided to keep their prices same.