India: VIZAG Steel commences New Structure Mill

RINL – Vishakhapatnam Steel Plant has achieved new milestone in finished steel products and has commenced a new Structure mill on 16 Sep, 2014 with capacity of 7 lakh pa in product mix of medium, light, junior channels/beams, equal and unequal angles, flats, rounds, squares etc. This structural mill has high speed, two-high compact mill with 17 rolling stands with latest technology.

Secondary Market Scenario: There is low demand in secondary Structure market, which has bounded the manufacturers to reduce their production to maintain the prices.

West Bengal Production remains Low: A Structure manufacturer based in Durgapur, who produces around 300 MT material per day has shared, “We are producing Structure only upto 40-50% owing to low demand in the market. Domestic market seems to be sluggish till end of this month as upcoming Durga pooja totally halts the sale. Market likely to close for 5-7 days in this occasion, he further added.”

Gujarat Structure Prices correct by INR 700/MT: In Gujarat (Ahmedabad), Structure prices have corrected by INR 700/MT owing to high inventory in mills. In same line, Scrap prices in Bhavnagar have reduced by INR 300/MT W-o-W. Mumbai Structure offers have also fallen by INR 400/MT W-o-W. However, Ingot/Billet prices are unchanged from last 3-4 days.

Raipur Prices remain Unchanged: Raipur light & medium Structure prices have marginally declined by INR 200-300/MT. Angle 75×6 is trading at INR 32,900-33,000/MT. However, heavy Structure prices remain stable after correction by INR 100/MT from starting of the current week. Channel 300 is being traded at INR 36,000/MT; advance payment.

Structure Prices (in INR/MT) as on Week 38 ( 15-21 Sep, 2014)

Ex-works prices