Flat steel market fickles in present after witnessing continuous price hikes owing to following reasons.
- High inventory levels with traders/stockiest
- Falling export parity
- Falling global prices have given scope of imports to India
- Poor demand in domestic market
SteelMint learned from market sources that parity of imported material is still strong and there are quite a few shipments which will be reaching to country by the end of this month or early next month. Shipments will be arriving at East Coast as well as West Coast of India.
It is also heard that HRC and HR plate prices are offered at a discount of INR 1,000-1,200/MT looking at bleak demand and decent inventory levels with traders and stockiest. Another reason sought is falling parity in export market, for the reason that global prices have come down a bit and Indian rupee has stabilized at 61-62 level.
Leave a Reply