During Week 3 assessment, it has been seen that secondary structure market has weakened; reporting steep price corrections of INR 800-1,500/MT in contrast to previous week. Continued demand worries amid delay in MIP imposition has kept the manufacturers under immense pressure; in turn forcing to reduce offers to such a great extent.
In duration of 2-week, billet prices have slumped by INR 1,000-1,500/MT across major Indian regions.
Western India based secondary structure makers reduced offers for angle, beam and channel of all sizes by INR 1,500/MT and manufacturers in eastern & southern parts have followed suit with reduction of INR 800/MT and INR 1,200/MT respectively.
Current 100*100 mm angle offers are prevailing at INR 26,800/MT in Durgapur, INR 27,000/MT in Ahmedabad, INR 25,000/MT in Raipur and INR 27,000/MT in Hyderabad.
In the meantime, 200*75 channel is available at INR 26,800/MT in Durgapur, INR 29,200/MT in Ghaziabad, INR 27,200/MT in Ahmedabad, INR 27,900/MT in Mumbai and INR 25,500/MT in Raipur.
Heavy structure, 200*100 beam is offered in Gaziabad at INR 28,700/MT (-700) and Raipur at INR 25,000/MT (-600).
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