Indian Structural Steel Market Holds Firm Amid Tight Supply and Improved Liquidity

Key Highlights

1. Secondary market bullishness driven by tight supply and fast-moving small/mid sections.
2. Primary mills stable with steady buying, though NCR and East show cautious sentiment.
3. Post-festive liquidity improvement boosting billing and movement across trade hubs.
4. Shortages rising in ISMC 75x40, Angle 65x65, and Flats 10–12 mm due to selective rolling.

Primary and Secondary Structural Steel Prices Hold Steady

Base Prices Region Wise – 100x50 Channel (Primary Mills)

1. Durgapur ₹49,600
2. Chennai ₹53,200
3. Vizag ₹52,000
4. Mumbai ₹52,800
5. Ghaziabad ₹51,200

Secondary Market Prices Region Wise

1. Raipur ₹46,500
2. Hyderabad ₹49,800
3. Raigarh ₹47,300
4. Chennai ₹48,100
5. Mandi Gobindgarh ₹48,600
6. Durgapur ₹47,000

Primary Market – Mildly Positive Sentiment

• Primary structural mills continue to maintain a stable to slightly positive bias, supported by steady movement in the secondary segment and consistent buying from trade channels.
• Stockists in the West and South are actively replenishing, while East India and NCR still show cautious buying due to slower fund rotation.
• Demand for ISMB 250–400, WPB 200, and ISMC 100x50 remains firm, driven by ongoing infra, metro, and fabrication projects.

 Secondary Market – Firm to Bullish

• The secondary market continues to exhibit strong fundamentals with active spot trade across key hubs.
• Raipur, Mandi Gobindgarh, and Durgapur mills report tight availability in small and mid-sized channels.
• Sections like ISMC 75x40, Angles 65x65, and Flats 10–12 mm are moving fast with negligible cash discounts.
• Fabrication units in Chhattisgarh, Odisha, Telangana continue to lift steady volumes (8–20 MT lots), keeping yard inventories comparatively low.
• Utilization levels remain high, yet selective rolling is causing shortages, especially in 65x65 and 75x40 channels.

Demand & Supply Overview: Liquidity Improvement Boosts Movement Despite Tight Credit

• Post-festive liquidity has improved, leading to better movement and billing across most trade hubs.
• Credit availability remains tight; mills are offering only 0.5–0.75% cash discounts.
• Export market remains weak, as domestic infra and industrial demand continue to absorb the majority of production.

Market Developments: Tight Supply in Key Hubs and Strong Movement in Small Sections

Tight Supply Zones: Raipur, Mandi Gobindgarh, Durgapur
Short availability in equal angles and small channels.

Fast Moving SKUs:

a. ISMC 75x40
b. ISMC 100x50
c. Angle 65x65
d. Flats 10–12 mm

Fabrication Demand: Healthy inflow from 10–25 MT project-based orders in fabrication and civil structures.

Expert Opinion

For Secondary Market Buyers

• Secure near-term December requirements to avoid last-minute price risks.
• Prices may rise by ₹200–₹400/MT in active regions if tight supply continues.
• Priority booking is advised for small channels and angle sections amid firm demand.

For Primary Market Buyers

• Adopt a wait-and-watch stance ahead of mid-month price revisions.
• A mild upward adjustment is possible if secondary prices remain strong.
• Book selectively for ISMB and WPB sections, where demand continues to be stable.