Structural Steel Prices Remain Stable in Secondary Markets Amid Supply Issues
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Structural steel prices remain stable, with SAIL increasing rates by Rs 500 this month. Supply issues persist in the primary market, especially for round bars and heavy sections. Secondary mills have sufficient stock but struggle with low demand and order delays. Meanwhile, JSW Steel reported a 1% rise in crude steel production last month.
Structure Price
- Secondary market: Today markets are stable in all regions.
- Primary market: Monthly rates revision are as follows: JSPL & RINL roll over, SAIL up by Rs 500 this month.
- Prices for secondary structures are as follow (Channel 100x50)
- Ex-Raipur: Rs 44,900/ton
- Ex-Hyderabad: Rs. 46,100/ton
- Ex-Raigarh: Rs 44,900/ton
- Ex-Chennai: Rs. 47,500/ton
- Ex-Mandi Gobindgarh: Rs. 46,800/ton
- Ex-Durgapur: Rs. 44,300/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
Structure Supply and Demand
- Primary: Despite these recent developments, RINL is still unable to meet the market's demand for its round bars, which means that some round bars are still unavailable. Heavy structural section are scarce in many places, despite their utmost necessity. The market is currently experiencing a shortage of material, which makes supply a serious issue.
- Secondary: The secondary mills have an abundance of inventory for the usual sizes, so they don't have any supply issues. The lack of order books resulting from the mills' insufficient rolling capacity is the primary cause of the delays in getting orders for larger sizes. The decline in secondary item demand drives down prices.
Structure News
- JSW Steel Limited reported a 1% rise in consolidated crude steel production in August, with Indian operations showing a 2% year-on-year growth.
- JSW Steel Limited achieved consolidated crude steel production of 2.316 million tons in August this year, up 1% year-on-year, according to a company statement on Thursday, September 12. Moreover, crude steel production from Indian operations was recorded at 2.249 million tons in the given month, a rise of 2 percent year-on-year.
Expert Opinion
- While JSPL and RINL have rolled over their tariffs in accordance with this month's market pricing, SAIL has increased their charges. SAIL pricing has escalated as a result of a shortage of plant supplies. RINL round bars are quite popular and can be purchased for a premium price, depending on availability.
- Since the secondary market mostly deals with lower-priced goods, a few small price adjustments are to be expected given the continuously low market demand. Other than that, nothing major has changed.
Daily Market Report
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