Structure Prices Stable; Indian Steelmakers Brace for Profit Decline Amid Cheaper Imports
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Key Takeaways
- Primary Market Prices: Increased by Rs 500/mt this month. Prices increased by SAIL, JSPL, and RINL.
- Secondary Market Prices: Remain stable across all regions. Prices range from Rs 44500 to Rs 47500.
- Supply Updates: SAIL addressing heavy beam and channel shortages; RINL sections widely available now.
- Market Challenges: Low secondary demand prompting discounts, but supply remains sufficient.
- Expert Insights: Secondary prices expected to rise as demand picks up, though closures may take time.
MS Angle
Structure Prices
Secondary Market: Secondary markets stable today in all regions.
Primary market: In this month’s price revision, SAIL, JSPL and RINL are all up by Rs 500/mt.
The offers for 100 x 50 Channel in the Secondary Steel market are as follows:
Ex-Raipur: Rs 45,600/mt
Ex-Hyderabad: Rs. 47,100/mt
Ex-Raigarh: Rs 45,600/mt
Ex-Chennai: Rs. 47,400/mt
Ex-Mandi Gobindgarh: Rs. 47,500/mt
Ex-Durgapur: Rs. 44,500/mt
The offers for 100 x 50 Channel in the Primary Structural Steel market are as follows:
Ex-Durgapur: Rs. 55,750/mt
Ex-Chennai: Rs. 59,250/mt
Ex-Hyderabad: Rs. 57,750/mt
Ex-Ahmedabad: Rs. 58,250/mt
Ex-Ghaziabad: Rs. 56,250/mt
Structure Supply and Demand
- Primary: Despite the SAIL IISCO facility’s full-scale operations, the distributor is still unable to access several Heavy Beams and Channels. These portions are expected to arrive by the end of this month, based on SAIL's rolling schedule. Additionally, providers are increasingly providing easily accessible RINL sections as well. Currently, the primary supply issue is being addressed.
- Secondary: The producers are offering a discount because of the low demand. Therefore, secondary mills are not worried about shortages because they have enough finished material.
Structure News
Indian steelmakers are set for a third straight quarter of profit decline, despite increased steel consumption. Cheaper imports and mixed price trends are key factors. Long steel producers may perform better than those focused on flat steel.
Expert Opinion
The secondary market is predicted to fall due to low demand, but it is anticipated to rise in the next week as inquiries come in. However, closure will take time.
Daily Market Report
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