Steel Structure Prices Stable in Major Locations
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The secondary market shows stability, while primary prices vary with SAIL increasing rates. RINL's closure leads to material shortages, while AMNS's new product aims to dominate the solar market, influencing overall pricing dynamics.
Price
- Secondary Market: Today, the market remains stable across all regions.
- Primary Market: Monthly rate revisions are in place, with JSPL and RINL rolling over their prices, while SAIL has increased prices by Rs 500 this month.
- Prices for secondary structures are as follow (Channel 100x50)
- Ex-Raipur: Rs 46,200/ton
- Ex-Hyderabad: Rs. 46,600/ton
- Ex-Raigarh: Rs 46,200/ton
- Ex-Chennai: Rs. 47,300/ton
- Ex-Mandi Gobindgarh: Rs. 47,700/ton
- Ex-Durgapur: Rs. 45,300/ton
- The offers for 100 x 50 Channel in the Primary Structural Steel market are as follows:
- Ex-Durgapur: Rs. 52,500/ton
- Ex-Chennai: Rs. 56,000/ton
- Ex-Hyderabad: Rs. 54,500/ton
- Ex-Ahmedabad: Rs. 55,000/ton
- Ex-Ghaziabad: Rs. 54,500/ton
Supply & Demand
- Primary: With RINL's facility set to close, there is a severe shortage of RINL material in India. As RINL is the sole producer of round bars, some sizes are unavailable. Large structural sections are also scarce in many areas, despite being critical to the market. The material shortage is significantly affecting supply.
- Secondary: Secondary mills are not facing supply shortages due to excess inventory of standard sizes. However, the delay in receiving larger-sized orders stems from limited rolling capacity and smaller order books. Demand in the secondary market is currently on the rise.
News
- India’s ArcelorMittal Nippon Steel Limited (AMNS) launched its corrosion-resistant steel product, Magnelis, on September 20. Manufactured locally with a ₹10 billion ($119.7 million) investment, the Hazira plant in Gujarat has a 500,000-ton annual capacity. Previously imported from South Korea, Japan, and China, Magnelis combines zinc, aluminum, and magnesium for enhanced self-healing properties. AMNS aims to capture over 50% of the domestic market share in steel for solar projects.
Expert Opinion
- To align with this month's market pricing, SAIL has raised its prices, while JSPL and RINL have maintained their rates. The lack of plant supplies has driven up SAIL's prices. Additionally, the increasing cost of sponge iron and rising demand for secondary products are pushing up prices in the secondary market.
Daily Market Report
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