This week domestic flat steel prices continued to remain steady over dull trades and dwindling demand in domestic market. Traders continue to remain under pressure to sell the material and thus lowering the prices in domestic market.
Meanwhile truck operators and other vehicle association have gone for indefinite transport strike from 20th Jul’18 to address several problems like toll and diesel rates rationalization issues, insurance premium and revisions in provisions of E-way bill. As a result of this material movement hampered in few regions like Ahmedabad and Mumbai.
Thus this week domestic flat steel prices witness decline by INR 500-700/MT in few regions like Ludhiana and Delhi.However in other regions prices continued to remain stable.
As per SteelMint price assessment,currently trade reference prices for HRC (IS2062)2.5mm-8mm is around INR 45,000/MT (ex-Mumbai), INR 44,800-45,000/MT(ex-Delhi) and INR 45,000/MT (ex-Chennai).The prices mentioned above are basic on cash payment excluding GST @ 18%.
Currently trade reference prices for CRC (IS513) 0.9mm is hovering in the range of INR 49,500- 50,000/MT (ex-Mumbai),INR 49,500/MT (ex-Delhi) and INR 51,000/MT (ex-Chennai).The prices mentioned above are basic on cash payment excluding GST@18%.
A market source based in Mumbai mentioned that,” Domestic flat steel prices continue to remain on correction mode amid arrival of monsoons along with limited buying in domestic market.”
However traders and end users are anticipating decline in flat steel prices in coming month.
Domestic plate prices continue to remain on lower side : Domestic plate prices also remained on lower side over weak purchases in domestic market.
Currently trade reference prices for plates (IS 2062,5-10 mm) are heard at INR 45,000/MT (ex-Mumbai) and INR 44,800-45,000/MT (ex-Delhi).The prices mentioned above are basic on cash payment excluding GST@18%.
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