Secondary Structure Prices Slightly Changed, Primary Rates to Adjust Soon

MS Angle

30 Aug 20241 Min ReadDaily Market Report

Secondary structure prices have seen minor changes: Raipur remains stable, while Mandi, Hyderabad, and Chennai have increased. Primary market rates from SAIL, RINL, and JSPL are unchanged, with new prices expected in early September. Demand for RINL round bars remains high despite supply challenges.

Price

Secondary Structure Market: Prices in Raipur are stable. In Mandi, prices are up by Rs 300/ton, in Hyderabad by Rs 100/ton, and in Chennai by Rs 200/ton. Durgapur prices remain stable.
Primary Market: SAIL, RINL, and JSPL have maintained the same rates. New prices are expected in the first week of September, likely to reflect the current scenario.
Ex-Raipur: Rs 45,700/ton
Ex-Hyderabad: Rs. 47,500/ton
Ex-Raigarh: Rs 45,700/ton
Ex-Chennai: Rs. 48,400/ton
Ex-Mandi Gobindgarh: Rs. 47,200/ton
Ex-Durgapur: Rs. 44,700/ton
The offers for 100 x 50 Channel in the Primary Structural Steel market are as follows:
Ex-Durgapur: Rs. 52,000/ton
Ex-Chennai: Rs. 55,500/ton
Ex-Hyderabad: Rs. 54,000/ton
Ex-Ahmedabad: Rs. 54,500/ton
Ex-Ghaziabad: Rs. 54,000/ton

Demand and Supply

Primary: RINL’s supply of round bars has not kept up with market demand, leaving some bars unavailable despite improvements. Many locations lack access to significant structural components, and those available are in high demand due to their rarity. The scarcity of materials is currently a significant issue.
Secondary: No supply issues have been noted in secondary mills, which have inventories for regular sizes. However, rolling of heavy sizes is delayed for small orders due to minimum rolling capacity and insufficient order books.

News

Nippon Steel is urging the Japanese government to impose anti-dumping tariffs on Chinese steel exports, which have surged to their highest levels since 2016. The company fears this glut could negatively impact the domestic market. Nippon Steel, the world’s fourth-largest steelmaker, is lobbying Tokyo for protective measures alongside other Japanese steel producers. Despite these concerns, the company remains optimistic about finalizing its acquisition of US Steel.

Expert Opinion

This month’s key market pricing remains stable due to lower monsoon demand. Wholesalers are offering discounts widely, while RINL round bars are in high demand and available at a premium, depending on stock.
The secondary market is operating at lower price levels, with minimal price increases due to ongoing low demand. Minor fluctuations are expected in the last week of the month, but overall, the market has shown little significant movement.