Ludhiana: In the whammy double for iron and steel traders who deal with various types of raw materials, including HR coil, wire rods, TMT bars, round bars, among other things, there is a big drop for these products and on the other side of the hand steel-producing company Pressing them to buy more stock.
According to employers, the level of steel products has registered a little drops, but micro, small and medium enterprises (MSMEs), which are the largest consumers of these products, anticipating further decline and purchases in just a limited number.
PAL Guliani, President Ludhiana Boopar Mandal, said, “In the past two months, there have been no buyers in the market for steel because of low demand in the domestic sector.
On the other hand, steel companies do not correct prices, even though there is a small drop.
Coil market level.
This is Rs 62,000 per ton, which means there is a correction of around Rs 7,000 per ton in two months, but still a low demand because buyers expect more correction.
Price correction in long products is around Rs 8,000 per ton, but also has failed to Bringing upward movements in request.
“” TMT Bar Screen company costs Rs 49,000 per ton compared to RS 56,000 in May.
Overall, there has been a marginal correction at the steel product level, but fails to attract the MSME sector for bulk purchases.
Factory The factory buys as much ingredients as they need.
But the steel company presses the dealer to buy more even though the previous stocks are dispersed Ing is not sold, “Guliani added.
Other steel traders Sachin Singla said business had had a negative impact because of slow demand.
“The greatest worries today are large amounts of unsold stocks accumulate in our store.
There is no hope of change in this situation and it is likely that we will suffer a record loss,” he said.
Rajkumar Singla, President Association Supplier Fasteners, Ludhiana, said, “Until we buy steel raw materials that are very limited because there is no final product request, such as fasteners, sewing machine parts, sewing machine parts, sewing machine parts, between Others, because of locking.
Moreover, the raw material rate is at a high lifetime and has witnessed an almost 100% increase in some cases.
Prices must go down to the previous level.
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