Structure manufacturers are struggling to sell the material as the “Code of Conduct” is on action in 5 states owing to the upcoming elections.
Raipur based Structure manufacturers reduced their offers as its supply is affected because of elections which are to be held on November in the states. Local demand is more than average, but the problem is, ongoing strict checking on state border, which holds the supply to other states. Raipur used to supply 50-60% of their total production to other states which is now restrained.
Structure prices in Raipur in last 3 days have fallen by INR 300-600/MT. Angle 40×5 is being offered at INR 31,300/MT (Basic, Regular payment).
MSP Steels and Power Ltd reduced its medium Structure offers by INR 300/MT. Channel 125 offers are at INR 31,400/MT (Basic). However, other offers remain unchanged.
Durg based Topworth Steel & Power Private Limited kept its offers unchanged from a week's time. But during a conversation, a responsible person from the unit confirmed that they are also under selling pressure. Beam 200 offers by Topworth was at INR 31,700/MT.
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