In line with other segments of the long products market, structure offers firmed up following the announcement of a minimum import price (MIP), industry sources said.
Prices of 40 angles rose by Rs 500-2,000 per ton in Gobindgarh, Raipur and Mumbai.
Prices of 200 channels in Raipur rose by around Rs 1,300 per ton.
Channels of 200x75 mm are being offered by RINL at Rs 35,150 per ton (including excise, excluding VAT) ex-Vizag, in January 2016, as against Rs 36,650 per ton in December 2015.
Wire rod offers also rose between Rs 500-900 per ton on positive sentiments.
RINL is offering wire rods of 7 mm at Rs 31,200 per ton (ED included) ex-Vizag with effect from February 7, up from Rs 30,000 per ton (ED included) in January. The company is offering wire rods of 8 mm at Rs 31,100 per ton (ED included) ex-Vizag in February, up from Rs 29,900 per ton (ED included) in January.
Following are prevailing structure prices in different markets:
Indian structure prices |
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Product |
Unit |
Market |
Price (Feb 9), 2016 |
Price (Feb 2, 2016) |
Price (Jan 25, 2016) |
Price (Jan 19, 2016) |
40 Angle |
Rs/ton (basic) |
Gobindgarh |
25500 |
25000 |
25200 |
25700 |
40 Angle |
Rs/ton (basic) |
Raipur |
25500 |
23500 |
24500 |
25200 |
40 Angle |
Rs/ton (basic) |
Mumbai |
28200 |
26200 |
26700 |
27100 |
200 Channel |
Rs/ton (basic) |
Ghaziabad |
28300 |
28300 |
29300 |
29300 |
200 Channel |
Rs/ton (basic) |
Raipur |
25500 |
24200 |
25100 |
25400 |
5.5 mm Wire rod |
Rs/ton (basic) |
Durgapur |
25500 |
25000 |
25000 |
26000 |
5.5 mm Wire rod |
Rs/ton (basic) |
Raipur |
26000 |
25100 |
25100 |
26200 |
Source: Traders