Structure Steel Price Hike; Rates Surge Across India
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Structural prices have increased across various markets in India, from Rs 200 in Raipur to Rs 1,000 in Hyderabad. Supply shortages persist, particularly from RINL, which is closing operations. In the secondary market, there is a rising demand for TMT, leading to upward price movements.
Structure Price
- Secondary Market: Raipur up by Rs 200, Durgapur up by Rs 500, Hyderabad up by Rs 1000, Chennai up by Rs 700, Mandi up by Rs 300.
- Primary market: Monthly rates revision include: JSPL & RINL roll over, SAIL up by Rs 500 this month.
- Prices for secondary structures are as follow (Channel 100x50)
- Ex-Raipur: Rs 46,400/ton
- Ex-Hyderabad: Rs. 47,600/ton
- Ex-Raigarh: Rs 46,400/ton
- Ex-Chennai: Rs. 48,000/ton
- Ex-Mandi Gobindgarh: Rs. 48,000/ton
- Ex-Durgapur: Rs. 45,800/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: Due to the fact that the RINL facility is about to close and will no longer be producing, there is an extreme shortage of RINL material in India. Additionally, because it is the only producer of round bars, some round bars remain unavailable. Large structural sections are uncommon in many regions, despite the fact that they are absolutely necessary. The current material shortage is having a significant impact on supply.
- Secondary: Secondary mills are not concerned about supply because they have excess inventory for standard sizes. However, there is still a scarcity of billet because TMT demand is rising. As a result, prices on the secondary market are rising. Secondary markets are currently seeing an increase in demand.
Structure News
- India's finished steel imports from China surged to a 7-year high during the first five months of the 2024/25 financial year, according to provisional government data. India’s overall finished steel imports also reached a 6-year high of 3.7 million tons between April and August, indicating that India is now a net importer of steel.
Expert Verdict
- SAIL has raised its rates to reflect the current market pricing, whereas JSPL and RINL have carried over their rates. SAIL prices have increased as a result of a shortage of plant supplies. RINL Round bars are quite popular and can be purchased for a premium price, depending on availability.
- The secondary market mostly deals with upward pricing due to the growing demand for secondary commodities and the rising cost of sponge iron.
Daily Market Report
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