Amid falling demand in Raipur and nearby states like Madhya Pradesh, Maharashtra and Andhra Pradesh, Light Structure offers have fallen by INR 400-600/MT W-o-W. Whereas, offers in Mumbai remain unaltered.
Light Structure offers in Raipur fell by INR 400-600/MT W-o-W. However, it has corrected by INR 1,600/MT M-o-M. Presently, Channel 75 is trading at INR 32,200/MT ex-Raipur (advance payment). SteelMint assessed the manufacturers based in Raipur are supplying Light Structure to Andhra Pradesh and nearby states at below the average trade price of the local market. Freight charges from Raipur to Hyderabad by road are in the range of INR 1,600-1,800/MT.
A trader based in Hyderabad stated, “At present, we are purchasing the material from Raipur (Chhattisgarh) at below INR 400/MT from the average offers available in the local market”.
Offers in Mumbai remain at the same level because of limited trade movement. Ingot in Mumbai is being offered at INR 30,200/MT. Meanwhile, Structure manufacturers have kept their offers unchanged at INR 34,200/MT for Angle 40 this week. Whereas, Rebar prices have declined by INR 300-400/MT since last 2-3 days. Manufacturers and stockiest remain cautious about the future scenario because of falling Scrap prices in the global market and liquidity crunch in the domestic market.
A Mumbai based manufacturer said, “There is limited demand of Rebar. In addition, imported Rebar from China has reduced the consumption of domestic Rebar and currently we are running our Rebar mills at 30-40% level. While, structural mills are running at over 70% capacity.”
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