Structure Prices Stable in Some Cities, Down in Others; Primary Market Rates Soon

Structure Prices

Secondary Market: Raipur stable, Mandi stable, Hyderabad down 200, Chennai down by 300 & Durgapur stable.

In the Primary market SAIL, RINL & JSPL, this month's rates are expected to come in 2-3 days, probably rolling over the rates as per the current scenario.

Current base prices:

• Ex-Durgapur: Rs. 52000/ton
• Ex-Chennai: Rs. 55500/ton
• Ex-Hyderabad: Rs. 54000/ton
• Ex-Ahmedabad: Rs. 54500/ton
• Ex-Ghaziabad: Rs. 54000/ton

Secondary prices:

• Ex-Raipur: Rs. 45600/ton
• Ex-Hyderabad: Rs. 47300/ton
• Ex-Raigarh: Rs. 45600/ton
• Ex-Chennai: Rs. 47700/ton
• Ex-Mandi Gobindgarh: Rs. 47000/ton
• Ex-Durgapur: Rs. 44100/ton

Structure Supply and Demand

Primary:

Since RINL's round bar supply has not been able to keep up with market demand, some round bars remain unavailable despite the advancements. Significant structural components are hard to come by in many places, and when they exist, people want them badly. Due to a scarcity of materials on the market, supply is currently a significant problem.

Secondary:

The secondary mills are not experiencing any supply problems because they have enough inventory for the standard sizes. The main reason why small orders for heavier sizes are being delayed is because the mills do not have order books for minimum rolling capacity.

Structure News

• India’s SMIOL secures approval to extract iron ore from its manganese and iron ore mine.
• India’s Sandur Manganese & Iron Ores Limited (SMIOL) has been granted environmental clearance by the Ministry of Environment, Forests and Climate Change (MoEFCC) to commence iron ore production from its Ramghad manganese and iron ore mine, a company statement said on Monday, September 2.
• The environmental clearance will permit SMIOL to extract 0.216 million mt per year of iron ore from the Ramghad mine. The company will maintain its production of manganese ore from the mine at 0.05 million mt per year, according to the clearance.
• Additionally, the environmental clearance allows for the handling of 0.327 million mt of previously stocked incidental iron ore within the next two years. Sandur Manganese & Iron Ores is the flagship company of the Karnataka-based Sandur Group. It is involved in the mining of low-phosphorous manganese and iron ore in the Hosapete-Ballari region of Karnataka. It also manufactures ferroalloys (silico-manganese) at its plant in Vyasankare, near Hospet, Karnataka.

Expert Opinion

This month's important structure pricing is expected to come in 2-3 days but lower demand may be expected to roll over the rates. Because of this, wholesalers are now giving discounts on a sizable portion of the market. RINL Round bars are quite popular and can be purchased at a premium price, depending on availability. The secondary structure market is primarily operating in the lower price range because of the ongoing low market demand. A few slight price fluctuations are expected, but apart from that, there hasn't been any notable movement in the structure market.