As per recent update received from market particpants, a major private steelmaker – Essar Steel has today announced increase in HRC & CRC prices by around INR 1500/MT in domestic market for March deliveries.
After increase company’s effective price of HRC (2.5-8mm,IS2062) is in range of INR 44,000-44,500/MT(ex-Mumbai). Whereas prices of CRC (0.9mm,IS513GR) is in range of INR 50,000-50,500/MT (ex-Mumbai). Prices mentioned above are basic and extra GST@ 18% will be applicable.
Meanwhile current trade reference prices in traders market for HRC (IS2062) 2.5 mm-8 mm is around INR 42,000-42,500/MT (ex-Mumbai) and INR 42,500-43,000/MT (ex-Delhi).The prices mentioned above are basic prices excluding GST @ 18% on cash payment basis.
Currently trade reference prices for CRC (IS513) 0.9mm is hovering in the range of INR 46,000-47,000/MT (ex-Mumbai) and INR 48,000-49,000/MT (ex-Delhi) The prices mentioned above are basic prices excluding GST@18% on cash payment basis.
Meanwhile other major mills are in discussions regarding price revision for March deliveries which will be announced shortly.
Uptrend in global HRC offer and improved demand have resulted in increase in prices of flat steel in domestic market.
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