India: Structure Offers Increase on Positive buying

Indian structure offers accelerated upward owing to good demand. The offers increased around INR 500/MT (USD 8), W-o-W across major markets of India.

This rise in the structure offers was also supported by the increase in ingot and billet offers. In a week’s duration the domestic billet offers rose by INR 500-800/MT (USD 8-12).

The maximum hike in Structures was registered in East, South & Central regions where the offers rose by INR 500/MT followed by North India INR 400/MT and West India INR 200/MT.

“During monsoon the demand for the light structural steel picks up from end user,” the re-rollers in Raipur, Central India stated.

Presently, Raipur based mills are selling structures to South, West & North India the average freight charges via road are reported near to INR 2,500/MT.

The heavy structure manufacturers in Central region are offering discounts about INR 200-400/MT depending upon the quantities.

Production: There is fall in production of Structural steels by 5% M-o-M in June 2017. In the month of June the structure production stood at 0.68 MnT against 0.72 MnT in May’17. However, in Q1 FY18 the production increase in same proportion to 2.04 MnT compared to 1.96 MnT in Q1 FY17.

Source SteelMint Research

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