Structure Market Update: JSPL Holds Prices, SAIL Increased Rates

MS Angle

04 Sept 20242 Min ReadDaily Market Report

Structure prices are stable across secondary markets. In the primary market, JSPL has maintained rates, SAIL has increased rates by Rs. 500 due to material shortages, while RINL’s rates are expected tomorrow. Supply in the primary market is strained, with some round bars still unavailable due to RINL’s insufficient supply.

Structure Prices

Secondary Market: Today markets are stable in all regions.

In the Primary market, JSPL rolled over, SAIL up by 500, and RINL rates are expected tomorrow.

Current base prices

Ex-Durgapur: Rs. 52500
Ex-Chennai: Rs. 56000
Ex-Hyderabad: Rs. 54500
Ex-Ahmedabad: Rs. 55000
Ex-Ghziabad: Rs. 54500

Secondary prices

Raipur: Rs. 45600
Hyderabad: Rs. 47300
Raigarh: Rs. 45600
Chennai : Rs. 47700
Mandi Gobindgarh: Rs. 47000
Durgapur: Rs. 44100

Structure Supply and Demand

Primary Structure Market
Despite the developments, some round bars are still unavailable because RINL's supply of round bars cannot keep up with the market demand. Important structural elements are scarce in many locations, and when they are available, demand is quite high. Supply is currently a major issue because there aren't enough materials available on the market.

Secondary Structure Market
Due to their ample inventory for the conventional sizes, the secondary mills are not having any supply issues. The mills' lack of order books for minimum rolling capacity is the primary cause of the delays in modest orders for larger sizes.

Structure News

India’s NMDC Limited saw a 10% decline in iron ore output in August.
India’s government-run miner NMDC Limited achieved iron ore production of 3.07 million mt in August this year, a decline of 9.9 percent year on year, according to a regulatory filing of the company on Tuesday, September 3. The company’s sales also declined, falling to 3.14 million mt in August this year, from 3.54 million mt in the corresponding month of the previous year. NMDC Limited’s cumulative iron ore production during the April-August period of the fiscal year 2024-25 was also down, declining to 14.43 million mt, against 16.56 million mt in the corresponding period of the previous fiscal year.

Expert Opinion

This month's important market pricing updates are as follows: JSPL has rolled over the rates while SAIL has increased the rates. RINL rates are expected to come tomorrow. SAIL’s prices increased due to material shortage in the plant. RINL Round bars are quite popular and can be purchased at a premium price, depending on availability. The secondary market is primarily operating in the lower price range because of the ongoing low market demand. A few slight price fluctuations are expected, but aside from that, there hasn't been any notable movement.