Structure Prices Stable in Major Markets After Recent Declines
%2Fhttps%253A%252F%252Fofbadmin.s3.ap-southeast-1.amazonaws.com%252Fnexizo%252Fproduction%252Fstrapi%252FChannel_4_fa88965a08.png&w=1920&q=100)
Secondary structure prices are stable in Raipur, Mandi, and Durgapur, but down in Hyderabad and Chennai by Rs 200-300/ton. Primary rates from SAIL, RINL, and JSPL remain unchanged. Low demand affects secondary mills.
Price
- Secondary Structure Market: Prices in Raipur, Mandi, and Durgapur remain stable, while in Hyderabad and Chennai have decreased by Rs 200-300/ton.
- Primary Market: SAIL, RINL, and JSPL have rolled over the same rates for August.
- The prices for 100 x 50 Channel in the Secondary market are as follows:
- Ex-Raipur: Rs 46,300/ton
- Ex-Hyderabad: Rs. 47,700/ton
- Ex-Raigarh: Rs 46,300/ton
- Ex-Chennai: Rs. 48,200/ton
- Ex-Mandi Gobindgarh: Rs. 47,700/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. 56,000/ton
- Ex-Chennai: Rs. 59,000/ton
- Ex-Hyderabad: Rs. 57,500/ton
- Ex-Ahmedabad: Rs. 59,000/ton
Demand and Supply
- Primary: RINL's round bar production has not met demand despite improvements; certain round bar sections are still unavailable on the market. Major structural sections are also scarce and are being sold at a premium due to their rarity. The scarcity of materials on the market is currently a significant supply issue.
- Secondary: Low demand for secondary materials is straining mills. Raipur small mills remain on strike in protest of the ongoing increase in electricity tariffs.
News
- In July, China's iron ore imports totaled 102.813 million tons, up 5.3% month-on-month and 10.0% year-on-year. This was below the anticipated 103-110 million tons. Adverse weather conditions, including hot weather and heavy rainfall, reduced construction activity and demand for iron ore, leading to lower prices. For January-July 2024, imports reached 713.774 million tons, marking a 6.7% increase compared to the same period last year, according to China's General Administration of Customs.
Expert Opinion
- Primary market prices have remained steady this month due to lower demand from the monsoon season. Consequently, distributors have started offering discounts on many sections.
- The Raipur based secondary mill owners' decision to strike did not hold, and the market has declined further due to continuing poor demand. Trade orders are down, and discounts are being offered based on order quantities. The market is expected to remain in a downtrend in the coming days.
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)