Long Steel prices have slipped almost by 4-6% in last one month making it worst for industry before monsoon season hit the demand again. TMT re-bar price corrected by 4%, Sponge Iron price by 8% and MS Ingot by 5-6%.
‘I don’t think price going below this level as sponge price are raw bottom, power prices are souring high across mandi’s with regular power cut, and already prevailing low production will balance the inventory, demand and supply’ said a well know manufacturer based in Central India. He also added Sponge demand at this level is increasing in central and eastern region.
‘Demand will pick up in Maharashtra after LBT issue resolve as stock level at retail end is almost vanished’ said Broker/trader based in Mumbai. He also said mill owner are not discounting their price regularly as they receive the ongoing project order directly as trader/broker strike continues.
‘Steel demand from house hold construction will improve as water supply in the region will soon solve’ said TMT retailer based in Gujarat.
‘Stockiest demand of TMT and Structure is picking up in M.P as buyer’s also feel prices are bottom’ said TMT distributor based in Raipur of well know brand that has PAN India presence.
‘Demand from U.P and Rajasthan is improving at this level, we expect market to be normal once before monsoon begins’ said Mill owner of TMT and structure who regularly supply material in North India.
Items 08.05.13 08.04.13 Change % Change
Mandi(Ingot) 31,400 32,650 -1250 -4%
Raipur(Ingot) 27,200 29,000 -1800 -6%
Raipur(Sponge) 18,500 20,100 -1600 -8%
Raipur(TMT) 31,800 33,700 -1900 -6%
Mumbai(Ingot) 29,800 31,100 -1300 -4%
Mumbai(TMT) 34,000 34,600 -600 -2%
Durgapur(Ingot) 27,700 28,700 -1000 -3%
Durgapur(Sponge) 19,200 20,200 -1000 -5%
Durgapur(TMT) # 37,200 38,800 -1600 -4%
Note: Price is Basic. ED and Taxes Extra
TMT Price is of 12MM, # Durgapur price is incluvise all taxes
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