In Indian domestic market, primary steel manufacturers raise flat steel prices by almost Rs 1,000/MT in spot market, however kept their long steel prices unchanged.
In response to this steel manufacturers justify that flat steel prices are largely dependent on global market. Currently falling Rupee on one hand, has made coal imports expensive and on the other, has got better realization for exports of finished product.
Unlike Flat, long steel market in India is unaffected to global fluctuations. Long steel is dominated by secondary players and is prices are dependent on local factors like availability of scrap, prices of iron ore and other seasonal factors.
Current prices for HRC of 2.5mm is in range of Rs 34,000-35,000/MT (Ex-Works) and 12mm Re-bar at around Rs 32,000-34,000/MT (Ex-Works).
Leave a Reply