Indian flat steel steel prices continued to remain consistent amid weak buying and dull demand prevailing in domestic market.
Indian flat steel market continued to remain stagnant this week owing to gloomy demand prevailing in domestic market. Traders and manufacturers are offering the prices which is similar to previous week price levels.
Currently, trade reference prices (basic) for HRC (IS2062) 2.5 mm-8 mm are assessed in the range of INR 38,500-39,000/MT (ex-Delhi), INR 39,000/MT (ex-Chennai) and INR 39,000-39,500/MT (ex-Mumbai).The prices mentioned above are basic prices excluding GST @ 18%.
As per SteelMint assessment current reference prices (basic) for CRC (IS513) 0.9mm is hovering in the range of INR 44,000/MT (ex-Delhi), INR 44,000-44,500/MT (ex-Chennai) and INR 43,500-44,000/MT (ex-Mumbai).The prices mentioned above are basic prices excluding GST @ 18%.
As per market sources, there is not much improvement in demand and as a consequence to this major Indian mills have kept away from revising the domestic prices and traders remained distressed about low sales volumes in domestic market.
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