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OfBusiness MS Scrap Daily Market Report | 24th May 2024
MS Scrap
Daily Market Report
24 May

OfBusiness MS Scrap Daily Market Report | 24th May 2024

The ferrous scrap market in South India opened stable, with minimal movement in various categories. Prices for Chennai stand at Godown Grade: Rs 34,800/ton and Commercial Grade: Rs 32,800/ton. Demand remains steady, but a dip in finished goods sentiment may influence future trends.
OfBusiness Structure Daily Market Report | 24th May 2024
Structure
Daily Market Report
24 May

OfBusiness Structure Daily Market Report | 24th May 2024

Price stability was noted in Hyderabad and Mandi, while Raipur and Durgapur prices dipped Rs 200-300/ton; Chennai remains steady. Primary mill's prices are stable post a Rs 1,000/ton hike. The secondary market faces low demand, resulting in inventory accumulation despite reduced production.
OfBusiness Primary TMT Daily Market Report | 24th May 2024
Primary TMT
Daily Market Report
24 May

OfBusiness Primary TMT Daily Market Report | 24th May 2024

Primary TMT prices remain firm. Demand progresses, with some mills negotiating for larger inquiries. Supply streamlined with material availability assured. Demand is expected to rise towards month-end. SEAISI projects 3.7% steel demand growth in Southeast Asia for 2024.
OfBusiness Secondary TMT Daily Market Report | 24th May 2024
Secondary TMT
Daily Market Report
24 May

OfBusiness Secondary TMT Daily Market Report | 24th May 2024

Secondary TMT prices remain stable compared to yesterday. Demand is moderate, with fewer fresh inquiries. Pig iron prices in Ludhiana dropped, reflecting oversupply. This challenges stakeholders, prompting production adjustments. Participants expect a stable market with moderate inquiries, foreseeing slight changes ahead.
OfBusiness Flat Steel Daily Market Report | 24th May 2024
MS Flats
Daily Market Report
24 May

OfBusiness Flat Steel Daily Market Report | 24th May 2024

Flat steel markets in India show stability with steady prices in major markets for various products. The hot rolled plates market maintains stability, meeting demand. In April 2024, Indian engineering exports decline by 3.2%, mainly due to intensified competition from Chinese steel.
OfBusiness MS Scrap Daily Market Report | 23rd May 2024
MS Scrap
Daily Market Report
23 May

OfBusiness MS Scrap Daily Market Report | 23rd May 2024

The ferrous scrap market in South India remains stable with minimal price changes. Demand is steady despite pre-election cautiousness. In South Asia, the market is sluggish with regional variations in buyer activity and pricing trends. Stability is expected through the weekend.
OfBusiness Structure Daily Market Report | 23rd May 2024
Structure
Daily Market Report
23 May

OfBusiness Structure Daily Market Report | 23rd May 2024

In the secondary structure market prices are down by Rs 100-300/ton in major markets, while Durgapur and Chennai are stable. Primary prices are stable this week as mills facing a supply shortage. The secondary segment sees improved inventories due to low demand.
OfBusiness Secondary TMT Daily Market Report | 23rd May 2024
Secondary TMT
Daily Market Report
23 May

OfBusiness Secondary TMT Daily Market Report | 23rd May 2024

Price stability in today's secondary TMT market with opening rates consistent. Demand and supply remain temporarily stable, with moderate new inquiries. Some secondary plants face material supply concerns. Market participants expect stable rates and moderate inquiries to persist this week.
OfBusiness Flat Steel Daily Market Report | 23rd May 2024
MS Flats
Daily Market Report
23 May

OfBusiness Flat Steel Daily Market Report | 23rd May 2024

Steady flat steel prices amid increased demand. Integrated steel plants adapt pricing strategies to bolster local demand, while discussions on safeguard tariffs signal proactive market management. Despite global challenges, steel demand in Southeast Asia is anticipated to rise by 3.7% in 2024.
OfBusiness Primary TMT Daily Market Report | 23rd May 2024
Primary TMT
Daily Market Report
23 May

OfBusiness Primary TMT Daily Market Report | 23rd May 2024

The primary TMT market has seen increased inquiries and rising demand this week, with mills discussing ex-factory prices and distribution channels to simplify supply chains through price negotiations. India’s steel production grew 3.6% in April 2024.

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