OfBusiness Structure Dailies | 19th July 2023

Price

Primary mills’ offers for 100 x 50 Channel are as follows:

• Ex Durgapur: Rs. 53,000/ton
• Ex Chennai: Rs. 56,000/ton
• Ex Hyderabad: Rs. 54,500/ton

Secondary re-rolling mills were offering 100 x 50 Channel as follows:

• Ex-Raipur: Rs. 49,000/ton
• Ex-Raigarh: Rs. 49,700/ton
• Ex-Chennai: Rs. 52,500/ton
• Ex-Hyderabad: Rs. 50,300/ton

Demand and Supply

• The supply for the primary segment has been smooth with ample availability of lower sections, but there is a shortage of heavy sections, some of which are not readily available and others are made-to-order based on client requirements. In the secondary market, material availability remains stable, although there are delays in make-to-order requests due to reduced billet stocking by certain manufacturers.

News

• Employees and trade unions are vehemently protesting against the privatization of Vishakhapatnam Steel Plant, owned by Rashtriya Ispat Nigam Limited. This protest has been ongoing for 811 days, but the government remains unaffected by the movement. In response, an aggressive stance has been adopted against privatization, and the Visakha Steel Protection Struggle Committee has called for the blockage of four major squares in the city, including the Vijayawada-Visakhapatnam National Highway.

OFB’s Opinion

• The secondary market is experiencing fluctuations, leaving buyers in a state of confusion. Procurement activities have slowed down in various projects as buyers are seeking further drops in prices.