This week domestic HRC prices remain largely stable in the domestic market over limited buying.
As per SteelMint’s price assessment current trade reference prices in traders segment for HRC (IS2062,2.5-8mm) is at INR 34,000-35,000/MT (Ex-Mumbai), INR 34,000-34,500/MT (ex-Delhi) and INR 35,000-36,000/MT (ex-Chennai). Prices mentioned above are basic and extra GST@ 18% will be applicable.
Currently domestic CRC (0.9mm, IS 513) trade reference prices on a weekly basis are hovering around INR 39,200-39,500/MT (ex-Mumbai), INR 37,800- 39,000/MT (ex-Delhi) and INR 38,000-39,500/MT (ex-Chennai). Prices mentioned above are basic and extra GST@ 18% will be applicable.
Trades continue to remain slow amid bearish sentiments in the domestic market. However, they remain hopeful of a slight improvement in demand post Diwali holidays.
However, easing-off higher inventories in form of exports may fuel optimism and lift domestic HRC prices in the upcoming month.
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