Structure Prices on the Rise as RINL Material Scarcity Continues
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Structure prices have risen across secondary markets, with Raipur and Chennai up by Rs 500 and Hyderabad up by Rs 600. Primary market price revisions are expected in a few days. Supply issues persist, especially with RINL materials, which is driving prices higher. Notably, Tata Steel has halted operations at its Port Talbot plant in the UK.
Structure Prices
Secondary Market: Raipur up Rs 500, Durgapur up by Rs 300, Mandigobindgarh up by Rs 200, Hyderabad up by Rs 600 and Chennai up by Rs 500.
Primary market: Monthly rates revision are expected to come in 3-4 days.
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. 48,900/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 reasons behind India's severe RINL material scarcity include the impending closure of the RINL facility and the ensuing production halt. It is also the lone manufacturer of a number of round bars that are currently unavailable. In many places, large structural sections are unusual, even when they are absolutely necessary. The scarcity of materials at the moment is significantly affecting supply.
- Secondary: Secondary mills are not concerned about supply because they have enough inventory for normal sizes. However, because of the increasing demand for TMT, billet is becoming more difficult to find, which is driving up secondary market costs. Because secondary marketplace demand is rising, raw resources are currently scarce.
Structure News
- Tata Steel has halted steel-making operations at Port Talbot, UK after it shut down the remaining blast furnace, the sinter plant, and some secondary steel-making and energy systems. The largest steel producer in the region had already shut a blast furnace and coke ovens earlier this year after they had reached their end-of-life and were not economically and environmentally viable.
Expert Opinion
- SAIL has raised its prices to suit the current market demand, but JSPL and RINL have kept their rates the last month. Meanwhile, this month’s prices are expected to come in 3-4 days. SAIL prices have increased as a result of a shortage of plant supplies.
- The primary drivers of price increases in the secondary market are the growing demand for secondary commodities and the rising raw materials costs including sponge iron.
Daily Market Report
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