Domestic structure offers remained uncertain since a week’s duration; where in few regions the prices went up on favorable demand and in some regions it went down due to anemic demand and shortage of labors which made negative sentiments in the market.
In Raipur, Central India the prices went up for the light structure by INR 300/MT but heavy structure slashed by INR 500/MT; due to lack of trade activities at higher offers.
Similar upward trend was registered in Western Regions; Mumbai and Ahmadabad by INR 300/MT and INR 500/MT respectively for both light & heavy structures.
Western Regions marked a favorable week as there was good demand amid strengthen in the prices.
Northern Region, Ghaziabad heavy structure offers also inched up by INR 500/MT with average sales resulted positive trend in the market.
Eastern Region, Durgapur and Southern Region, Hyderabad registered marginal correction by INR 100-200/MT.
Outlook for Week 24:
Manufacturers and traders are very much pessimist about these high offers and anticipates some price corrections as demand is not much good, it is below the average.
Further approaching GST is influencing the stockiest to limit the stock with them as this will become the cause for heavy loss incurred by them.
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