Structure Steel Prices See Minor Adjustments in Both Primary and Secondary Markets

MS Angle

11 Sept 20242 Min ReadDaily Market Report

Structure prices saw slight adjustments, with SAIL raising rates by Rs 500 and prices decreasing by Rs 200 in Raipur and Mandi. Supply issues persist, especially for round bars. Meanwhile, the government is working on a policy to decarbonize the steel sector through the efforts of 14 task forces.

Structure Price

Secondary Market: Raipur down by Rs 200. Mandi down by Rs 200. Hyderabad, Chennai and Durgapur stable.
Primary market: JSPL & RINL roll over, SAIL up by Rs 500.
Prices for secondary structures are as follow (Channel 100x50)
Ex-Raipur: Rs 44,900/ton
Ex-Hyderabad: Rs. 46,300/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: As RINL is still unable to meet the market's demand for its round bars, some round bars are still unavailable despite these recent improvements. Heavy structural items are highly required but hard to come by in many places. Currently, supply is a major issue due to a lack of resources available on the market.
Secondary: Since they have an abundance of inventory for the standard sizes, the secondary mills are not facing any supply issues. The lack of order books for the mills' insufficient rolling capacity is the primary cause of the delays in getting orders for larger sizes. Secondary items are in low demand, which lowers prices.

Structure News

Govt working on policy for decarbonisation of steel sector: The Centre is working on developing a policy framework for formulating strategy, roadmap and action plan for decarbonisation of the steel sector, a top official said on Tuesday. Speaking at an event here, steel secretary Sandeep Poundrik said, "The ministry of steel is working on developing a policy framework…while covering solutions ranging from minimisation to carbon avoidance to carbon utilisation." Towards this, the ministry has constituted 14 high-powered task forces to carry out discussions, deliberations and brainstorming on various enablers for decarbonisation, with the involvement of experts and the industry stakeholders.
These task forces consisted of members from industry, academia, think tanks innovators, various ministries and government departments.

Expert Opinion

JSPL and RINL have rolled over their tariffs in accordance with this month's market pricing, while SAIL has increased rates. SAIL prices have gone higher as a result of a plant supply shortfall. RINL Round bars are quite popular and can be purchased for a premium price, depending on availability.
Since the secondary market mostly deals with lower-priced goods, a few small price adjustments are to be expected given the ongoing low market demand. Other than that, nothing major has changed.