Mild Upward Bias in Structural Steel as Post-Festive Demand Strengthens

Base Prices for 100x50 Channel

Primary Mills Market Prices

• Durgapur: ₹49,600
• Chennai: ₹53,200
• Vizag: ₹52,000
• Mumbai: ₹52,800
• Ghaziabad: ₹51,200

Secondary Market Prices

• Raipur: ₹45,600
• Hyderabad: ₹48,900
• Raigarh: ₹46,400 
• Chennai: ₹47,400 
• Mandi Gobindgarh: ₹47,700 
• Durgapur: ₹46,100

Demand & Supply Overview

1. Primary Market

• Trading sentiment remains mildly positive, supported by a steady secondary market and moderate booking activity from key distributors.
• No major price circulars have been issued by primary mills yet; however, indications suggest a ₹200–₹300/MT upward revision could come in the second week of November if buying momentum sustains.
• Stockists in West and South India continue moderate replenishment, while trade in East India and NCR remains cautious amid slower fund rotation.
• Demand for ISMB 250–400 and WPB 200 sections remains firm, driven by ongoing infrastructure and industrial fabrication projects.

2. Secondary Market

• Secondary producers report a firm to bullish tone, with active spot trade in Raipur and Durgapur.
• Channel and angle sections are witnessing tight supply, particularly in the 65x65 and 75x40 range.
• Fabrication units in Chhattisgarh, Odisha, and Telangana continue to consume steady volumes (8–20 MT lots), keeping yard inventories low.
• Mills are largely operating at high utilization levels; however, small and mid-sized sections remain short in supply due to limited rolling schedules.
• Overall tone remains supportive, with negligible cash discounts and strong momentum in local dispatches.

Market Developments

• Billing & Movement: Improved liquidity post-festive period is supporting steady dispatches; most trade hubs are witnessing active replenishment. 
• Discounts: Cash discounts remain limited to 0.5–0.75%, with fewer mills offering extended credit due to ongoing fund constraints. 
• Exports: Continue to remain dull as domestic infrastructure and fabrication sectors absorb the majority of production.

Expert Insights & Recommendations

Secondary Market

• Fast-Moving SKUs: ISMC 75x40, ISMC 100x50, Angles 65x65, Flats 10–12 mm. 
• Tight Supply Zones: Raipur, Durgapur, Mandi Gobindgarh — short availability in small channels and equal angles.
• Advice: Buyers should cover near-term needs as firmness may extend through mid-November; expect a ₹200–₹400/MT increase in active trading zones. 

Primary Market

• Stable SKUs: ISMB 250–400, WPB 200, ISMC 100x50. 
• Booking Strategy: Hold for clarity on upcoming mid-November mill circulars; a mild upward revision is possible if the secondary market remains strong.
• Outlook: Primary mills are expected to maintain stability this week, aligning price parity with the strengthening secondary segment.

Sentiment & Outlook

• Secondary Segment: Bullish — steady demand, limited inventory, and strong fabrication activity. 
• Primary Segment: Neutral to Positive — awaiting confirmation from secondary-led strength before a rate revision. 
• Contractor Sentiment: Healthy — consistent demand from fabrication and civil projects in the 10–25 MT range.

Near-Term Outlook

• Secondary Prices: Expected to stay firm to slightly higher with a ₹200–₹400/MT upward bias over the next few sessions.
• Primary Prices: Likely to remain stable to mildly firmer, depending on upcoming mill circulars. 
• Buyer Strategy: Secure November dispatches early, as increased project mobilization and low stock levels may firm up prices further. 
• Watch Zone: Raipur–Mandi–Durgapur — tight availability and rising inquiries could lead to another short-term uptick in prices.