Structure Steel Prices: Market Remains Stable; Imports Rising
The primary steel market remains stable today, even though supply shortages persist, especially for round bars. On the other hand, secondary market prices remained mostly stable, with slight decreases in Hyderabad, where prices dropped by Rs. 200 per ton. Notably, India saw a 25% rise in steel imports during April-August, with exports dropping by 40%.
Structure Price
- Secondary Market: Raipur, Mandi, Chennai and Durgapur stable. Hyderabad down by Rs 200.
- Primary market: JSPL & RINL roll over, SAIL up by Rs 500 in September.
- Prices for secondary structures are as follow (Channel 100x50)
- Ex-Raipur: Rs 44,900/ton
- Ex-Hyderabad: Rs. 46,100/ton
- Ex-Raigarh: Rs 44,900/ton
- Ex-Chennai: Rs. 47,500/ton
- Ex-Mandi Gobindgarh: Rs. 46,800/ton
- Ex-Durgapur: Rs. 44,300/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: Even with these recent advances, some round bars are still unavailable because RINL is still unable to match the market's demand for its round bars. Though extremely necessary, heavy structural components are difficult to find in many locations. Because there are now insufficient resources on the market, supply is a significant problem.
- Secondary: There are no supply problems for the secondary mills because they have an abundance of inventory for the regular sizes. The main reason for the delays in receiving orders for higher sizes is the absence of order books due to the mills' inadequate rolling capacity. Prices are lowered by the lack of demand for secondary items.
Structure News
- India remains net steel importer in Apr-Aug, imports up 25%, exports down 40%
- India continued to remain a net importer of steel during the April-August period of the fiscal year 2024-25, with 3.5 million tons coming into the country during the period, up 25 percent year on year, according to the provisional data issued by the Ministry of Steel on Wednesday, September 11. Indian steel exports during the period have been estimated at 1.9 million tons, a decline of 40 percent year on year, the data showed. Total steel production and consumption during the period saw five percent and 14 percent increases year on year to 59 million tons and 60.3 million tons, respectively.
Expert Opinion
- JSPL and RINL have rolled over their tariffs in line with this month's market pricing. A shortage in plant supplies has resulted in increased SAIL pricing. Depending on availability, RINL Round bars can be acquired for a premium price and are highly popular. Given the persistently low market demand, a few minor price modifications are to be expected, as the secondary market mostly deals with lower-priced commodities. Nothing significant has changed aside from that.