Secondary Structure Prices Drop, Primary Unchanged
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FMild_Steel_1_6b6dc17bc3.png&w=1920&q=100)
Prices for secondary structures have decreased in Mandi, Durgapur, Hyderabad, and Chennai. In contrast, primary market rates remain stable with SAIL, RINL, and JSPL maintaining their prices. Demand issues persist, with secondary mills facing strain and Raipur mills on strike due to rising electricity costs.
Price
Secondary Structure Market: Prices in Raipur are stable. Mandi, Durgapur, and Chennai are down by Rs 200/ton each, while Hyderabad is down by Rs 300/ton.
In the Primary Market: SAIL, RINL, and JSPL have rolled over their existing rates.
Demand and Supply
- Primary: RINL's round bar production has not kept up with demand despite improvements; certain round bar sections remain unavailable on the market. Major structural sections are also scarce, and those available are being sold at a premium due to their rarity. The scarcity of materials on the market is currently a significant supply issue.
- Secondary: The low demand for secondary materials is straining mills. Raipur small mills are still on strike in protest of the ongoing increase in electricity tariffs.
News
- Jindal Steel and Power Ltd (JSPL) has announced a 50% reduction in its reliance on Australian coking coal by diversifying its sources. This strategic move aims to lower steel manufacturing costs and aligns with India's broader goal of decreasing dependence on a few countries for key raw materials. By exploring alternative sources, JSPL not only mitigates the impact of potential supply disruptions but also reduces logistics costs, enhancing the availability and affordability of coking coal in the domestic market.
Expert Opinion
- Primary market prices have remained stable this month due to lower demand from the monsoon season. However, distributors have started offering discounts on many sections.
- The decision by secondary mill owners to shut down mills did not sustain, and the market has fallen further due to continuing poor demand. Trade orders are down, and discounts are applicable based on the quantity of orders. The market appears to be in pressure for the foreseeable future.
Daily Market Report
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252Fstructure_632815b169.png&w=3840&q=75)
Structure Market Stable with Improved Primary Supply and Expected Demand Rise
Structure prices in the secondary market showed mixed trends, with Raipur and Mandi prices declining, while other regions remained stable. The primary market saw price adjustments this month, with SAIL and RINL reducing rates. Improved supply from SAIL IISCO and RINL facilities, combined with government interventions, is expected to address supply issues and gradually boost demand.
Read Story
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252Fstructure_4010d97e42.png&w=3840&q=75)
Primary Structure Supply Strengthens as Secondary Market Prices Rise Amid Rising Demand
The structure steel market sees mixed trends with stable to rising secondary market prices, while primary markets face price reductions. SAIL, JSPL, and RINL adjust pricing amidst supply and demand challenges. Meanwhile, environmental regulations threaten Tata Steel's Dutch operations, adding uncertainty to the global supply chain.
Read Story
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252Fms_beam_1b01fba88a.JPG&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FTMT_Fe_550_D_d1944141c6.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252F16493_1317_image_0_d2f7b743ad.jpg&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252Fhot_rolled_steel_coil_roll_o0_Q4an9_600_fe306f6654.jpg&w=3840&q=75)
%2Fhttps%253A%252F%252Fd86af0gufpxog.cloudfront.net%252Funsafe%252Fadaptive-fit-in%252F105x89%252Ffilters%253Aformat(webp)%252Fhttps%25253A%25252F%25252Fofbadmin.s3.ap-southeast-1.amazonaws.com%25252Fnexizo%25252Fproduction%25252Fstrapi%25252FCRC_cec6577b20.png&w=3840&q=75)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fbg-png-msite.png&w=3840&q=30)
%2Fhttps%253A%252F%252Fd3dhalnpawfxbg.cloudfront.net%252Fproduction%252Fnexizo%252Fnexizo.ai%252F_next%252Fassets%252Fved.png&w=128&q=75)