Structure Prices Largely Stable; RINL Faces Closure
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Structure steel prices remain largely stable with minor adjustments: Raipur, Durgapur, Chennai and Hyderabad stable, while Mandi sees a Rs 200 increase. JSPL and RINL maintain their rates, but SAIL has raised prices by Rs 500 this month. Notably, Andhra CM Naidu pledges to prevent the privatization of the Vizag steel plant amidst financial struggles.
Structure Price
- Secondary Market: Raipur stable, Mandi up by Rs 200, Durgapur stable, Hyderabad stable, Chennai stable.
- 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. 45,800/ton
- Ex-Raigarh: Rs 44,900/ton
- Ex-Chennai: Rs. 47,000/ton
- Ex-Mandi Gobindgarh: Rs. 47,000/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: Since the RINL facility is on the verge of closing and is not producing, there is a severe scarcity of RINL material throughout India, and since it is the only producer of round bars, some round bars are still unavailable. In many regions, huge structural sections are uncommon, even yet they are absolutely necessary. There is a material shortage on the market right now, which is having a major impact on supply.
- Secondary: The secondary mills have a surplus of inventory for the normal sizes, so they don't face any supply issues. Because of the mills' insufficient rolling capacity, order books are not present, which is the primary cause of the delays in obtaining orders for larger sizes. As the market for secondary items contracts, prices fall.
Structure News
- Amid reports that RINL is struggling to tide over a financial crisis, Andhra Pradesh CM N Chandrababu Naidu on Tuesday said he would try his best to ensure that the state-owned steel plant is not privatized. He also cautioned the employees and trade unions of the Visakhapatnam Steel Plant to implement proper management policies and bring it out of the woods.
Expert Opinion
- While JSPL and RINL have rolled over their tariffs to reflect the prevailing market pricing for this month, SAIL has raised its rates. A lack of plant supplies has led to an increase in SAIL prices. Depending on availability, RINL Round bars can be acquired for a premium price and are highly popular.
- Given the consistently low market demand, a few minor price adjustments are to be expected as the secondary market primarily deals with lower-priced commodities. Nothing significant has changed aside from that.
Daily Market Report
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