Primary Structure Steel Prices Up Rs 500/MT by SAIL &JSPL; RINL Rate Revision Awaited

Key Highlights

• Primary Market Prices Up: SAIL & JSPL raised prices by Rs 500/MT, RINL revision expected soon.
• Secondary Market Price Hike: Mandi & Raipur up Rs 100, Durgapur up Rs 200, while Hyderabad & Chennai remain stable.
• Supply Constraints: Heavy beams, angles, and channels are in short supply due to high demand in the primary market.
• Secondary Market Growth: Ample raw materials and rising demand are driving up secondary market prices.
• Steel Sector Investments: Jharkhand received Rs 26,000 crore in steel-related investment proposals at BGBS, promising 15,000 new jobs.

Structure Prices

• Secondary Market: Mandi and Raipur up by Rs 100, Durgapur up by Rs 200, Hyderabad and Chennai remain stable.

• Primary market: In this month’s price revision, SAIL and JSPL prices increased by Rs 500/mt. RINL rate revisions are expected today.

• Current base prices:

• The offers for 100 x 50 Channel in the Secondary Structural Steel market are as follows:

• Ex-Raipur: Rs 45,800/mt

• Ex-Hyderabad: Rs. 47,300/mt

• Ex-Raigarh: Rs 45,800/mt

• Ex-Chennai: Rs. 47,600/mt

• Ex-Mandi Gobindgarh: Rs. 47,800/mt

• Ex-Durgapur: Rs. 45,100/mt

• The offers for 100 x 50 Channel in the Primary Structural Steel market are as follows:

• Ex-Durgapur: Rs. 56,250/mt

• Ex-Chennai: Rs. 59,750/mt

• Ex-Hyderabad: Rs. 58,250/mt

• Ex-Ahmedabad: Rs. 58,750/mt

• Ex-Ghaziabad: Rs. 56,750/mt

Structure Supply & Demand

• Primary: The distributor is unable to get many heavy beams, angles, and channels because of the strong demand, which is causing the material to sell out as soon as it is rolled. The primary market's supply issue is still not fixed entirely.
• Secondary: Raw materials are plentiful, and finish goods are produced in sufficient quantities. As a result of increased demand, market prices are currently rising.

Structure News

Around 50% of Jharkhand’s Rs 26,000 crore investment proposals at the Bengal Global Business Summit (BGBS) were for the steel sector. The proposals, received during the ‘Advantage Jharkhand’ program, could generate 15,000 jobs. Companies like Supreme Metals Export Pvt Ltd and Voltox Rail Pvt Ltd proposed investments of Rs 3,000 crore and Rs 4,000 crore, respectively.

Expert Opinion

The secondary structure market is currently growing due to rising demand, and it is anticipated that this trend will remain same this week.