Structure Prices Largely Unchanged with Mandi Seeing Rs 200 Hike
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Structure prices remain stable in most regions except Mandi, which saw a Rs 200 increase. Primary market prices are expected to rise with upcoming rate revisions. Secondary mills are managing standard size supply, but increased TMT demand is causing billet shortages, driving up costs.
Structure Price
Secondary Market: Markets are stable across all regions today except Mandi, which is up by Rs 200.
Primary market: Monthly rate revisions are expected to come in 2–3 days, but prices are expected to go up.
Prices for secondary structures are as follow (Channel 100x50)
Ex-Raipur: Rs 48,000/ton
Ex-Hyderabad: Rs. 49,300/ton
Ex-Raigarh: Rs 48,000/ton
Ex-Chennai: Rs. 49,200/ton
Ex-Mandi Gobindgarh: Rs. 49,100/ton
Ex-Durgapur: Rs. 46,900/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: The imminent closure of the RINL facility and the consequent halt to production are the main causes of India's acute RINL material scarcity. Additionally, it is the only producer of some round bars that aren't readily available right now. Large structural sections are uncommon in many locations, even in cases where they are absolutely required. The current shortage of materials is having a major impact on supply.
- Secondary: Secondary mills have ample inventory for standard sizes, so they are not worried about supply. However, the increased demand for TMT is making billet harder to find, which is boosting costs in the secondary market. There is currently a shortage of raw materials due to the growing demand in the secondary market.
Structure News
- India's steel industry is poised to expand significantly over the next few years, with plans to add around 23 million tons of crude steel capacity between FY24 and FY27, according to a Nomura report. As per the report, the industry is reflecting a compound annual growth rate (CAGR) of 4.8%.
Expert Opinion
- While JSPL and RINL maintained their rates last month, SAIL increased its prices to reflect the current market demand. This month's prices are anticipated to be released in three to four days. A lack of plant supplies has led to a spike in SAIL prices.
- Growing demand for secondary commodities and rising sponge iron costs are the main causes of price increases in the secondary market.
Daily Market Report
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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.
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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.
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