Indian Structure Prices inched up while Demand is Dull

Costlier Ingot has pushed up Structure offers to about INR 600/MT in May while, Structure buying has not improved.

 Ingot and Billet offers climbed about INR 200-700/MT in last 5-6 days, which have pressurized Structure manufacturers for a hike in their offers. However, demand for Structural items is still low owing to less buying form many projects. Projects which are on hold are not expected to restart before June.

Ahmadabad based a trader said, “Obviously prices have increased in the current month but buying is on hold and we do not expect it to improve unless, government projects start again.”

Stockiest and manufacturers are refusing to stock material. And therefore, most of plants are running under capacity, according to major players. Ingot prices in Maharashtra and Gujarat fell down in past few days which has possibly resulted in price reduction of Structural items in coming days.

Structure prices raised up to INR 600/MT across India W-o-W except Mumbai, where offers have remain unchanged from more than a week.

Steel Authority of India (SAIL), a government undertaking  Maharatna Company is going to organize auction of 120 MT of Angle on 9 May’14 at Kanpur.