Indian Structure offers rose further in Western and Central region owing to good demand and with increase in billet offers. However, there is no major price movement in East and Southern region.
Major rise was marked in light structure offers in Western Region – Mumbai by INR 500/MT (USD 8) followed by Central Region – Raipur by INR 400/MT (USD 6).
Meanwhile, weaker demand in South and East Regions influenced the manufacturers to hold the offers firm. Another reason for stability in the offers was the strong billet offers which in turn increased the input cost.
Further, in Heavy Structures the offers almost remained firm in Raipur, however in Ghaziabad the offers grew by INR 400/MT, W-o-W.
As per one of the manufacturer based in North Region, Ghaziabad “the rise in heavy structure offers is supported by improved demand in local market; although the big projects are still on hold due to heavy rains, once the projects works resume it will help offers to move faster”.
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Source: SteelMint Research
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