Structural Steel Market Steady with Cautious Sentiment; Secondary Sector Gains Post-Monsoon Momentum

Key Highlights

• Primary 100x50 Channel Prices: ₹50,200–₹54,200 across major cities.
• Secondary Prices: ₹45,400–₹48,400; renewed firmness in Telangana & Chhattisgarh.
• Billet & Sponge Prices: Up ₹300–₹400/MT week-on-week.
• Outlook: Secondary market positive; primary prices to remain steady till mid-October.

Price Snapshot: Primary and Secondary Market Trends

Base Prices for 100x50 Channel (Primary Mills)

• Durgapur: ₹50,200
• Chennai: ₹54,200
• Vizag: ₹52,800
• Mumbai: ₹53,800
• Ghaziabad: ₹51,700

Secondary Market Prices

• Raipur: ₹45,400
• Hyderabad: ₹48,400
• Raigarh: ₹46,400
• Chennai: ₹47,500
• Mandi Gobindgarh: ₹47,300
• Durgapur: ₹46,200

Demand & Supply Overview: Post-Monsoon Momentum

Primary Market

• Trading sentiment remains steady with no fresh mill price circulars for October.
• Stockists in Western and Southern India are liquidating September inventory, while new enquiries from infrastructure EPCs and metro contractors are visible.
• Ghaziabad–Delhi NCR region remains flat due to delays in billing and fund releases from developers.
• Demand is moderate for ISMB 250–400 and WPB 200, supported by ongoing industrial shed and PEB projects.

Secondary Market

• The market shows renewed firmness post-monsoon, particularly in Telangana, Chhattisgarh, and Odisha.
• Raipur & Raigarh mills are running at near 85% capacity, but angles and small channels (ISMC 75x40, 100x50) remain tight.
• Fabricators and project buyers are active in 5–15 MT lots, driving short-term price stability.
• Eastern belt yards report low inventories, especially for structural flats and heavy joists.

Market Developments

• Billing Cycle: Quarter-opening demand is seen as stockyards and EPCs try to lock in before mill circulars.
• Discounting: Cash discount remains at 0.5%–0.75%; limited trade rebates on ready dispatch.
• Raw Material: Billet and sponge prices are up ₹300–₹400/MT week-on-week in Raipur and Rourkela, providing mild cost-push support.
• Exports: Remain dull; focus is on domestic infrastructure and fabrication projects.

Expert Insights & Buying Strategy

Secondary Market

• Fast-moving SKUs: ISMC 75/100, Angles 65x65, Flats 8–12 mm.
• Tight supply zones: Raipur, Mandi Gobindgarh, and Durgapur for channels and heavy angles.
• Advice: Expect a firm tone this week; buyers should cover immediate project needs before prices rise another ₹200–₹300/MT amid tightening stock.

Primary Market

• Stable SKUs: ISMB 250–400 and WPB 200 maintaining balanced movement.
• Booking strategy: Wait for mid-October mill circulars; no major revision expected before 10th October.
• Outlook: If secondary remains firm, mills may hold current base levels or announce a minor ₹100–₹200/MT increase next week.

Sentiment & Near-Term Outlook

• Secondary Segment: Positive momentum continues — steady consumption from fabrication, warehousing, and state infrastructure projects.
• Primary Segment: Neutral to mildly bullish; awaiting confirmation from downstream demand.
• Buyer Strategy: Lock confirmed requirements till 15th October before possible festive season uptick.
• Watch Zone: Raipur–Durgapur–Mandi belt — monitor for quick price escalation due to limited finished stock and steady demand from central India.