18/07/2023
18th July 2023
Price
• The Billet and Sponge Iron prices remained fluctuated and prices varied by 200-500/ton.The southern markets remained supported for Sponge Iron. While, TMT prices remained under pressure mostly with a maximum fall of Rs.600/ton seen in Raipur, whereas in Ahmedabad offers surged by Rs. 700/ton. Meanwhile, the HRC and CRC offers remained unchanged at around Rs. 56,500/ton and Rs. 61,000/ton ex-Delhi NCR, respectively.
Demand and Supply
• Prices are steady for HRC, CRC, and PM Plates, but primary suppliers may increase them to boost margins after a slow period. They've enhanced production capacity, yet face a supply shortage for E250BO and E350BO, with delivery timelines exceeding 6-8 weeks.
Demand stimulated a bit for secondary TMT, supported by slightly improved weather conditions in some regions. Primary producers observe similar demand, ample supply, and the lowest prices recently. The market meets current demand and supply, anticipating larger requirements in the upcoming week.
News
Suzlon Energy has secured an order to develop a 100.8 MW wind power project for Everrenew Energy. The project entails the installation of 48 wind turbine generators (WTGs) from Suzlon's S120-2.1 MW series. These WTGS, equipped with hybrid lattice tubular towers, will be deployed at the Velliyanani Phase-ll site in Karur district and the Vengaimandalam site in Trichy, Tamil Nadu. This contract showcases Suzlon Energy's continued presence in the renewable energy sector and its contribution to the expansion of wind power generation in the region.
Opinion
Demand is strong for few sections in Flat Products, but heavy rainfall is affecting project timelines. The supply side has improved, but certain grades like E250BO and E350BO remain challenging to obtain. Timely production by primary suppliers is crucial to address this issue.
