Domestic structure offers are continuously moving upwards supported by good demand and in line with higher offers of ingot/billet.
After being stable prices for last couple of weeks, in week 33 (7-11 July) the prices jump sharply. During the week major hike was registered in East Region-Durgapur and Central Region-Raipur (Heavy Structure) by INR 1,000/MT (USD 16) followed by South Region – Hyderabad and North Region-Ghaziabad by INR 700/MT (USD 11) and then in Western Region, Mumbai and Ahmadabad by INR 400-600/MT (USD 6-9).
As per weekly assessment, the rise in structural steel was in same proportion as compared to the Ingot and Billet offers.
As per one of the renowned manufacturer in Central region stated that, “the demand for light structural steel is favorable as compared to the other long steel products”
He further added that the only reason for marginal slowdown in the market is owing to reduction in the Ingot/Billet and sponge offers in Central region.
Monsoon is the favorable season for the structural steel where in the demand for the structures increase by the end user segment.
Market participants believe that structure demand to remain supported as there are strong sentiments in the market amid higher prices of raw material and semis products as well.
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