Flat Steel prices remained unchanged across major trading regions in India, with minor price hikes seen in Ahmedabad region.
As per our sources, price of 2.5 mm HRC in Ahmedabad was raised by INR 500/MT, whereas price of 3.0 mm HRC was raised by INR 300/MT. Amidst a truncated week, trading volumes remained lower in some regions. Markets remained closed for two days due to holidays in Ahmedabad. The revised prices for HRC (2.5 mm) in Ahmedabad were INR 44,750/ MT (Including ED, VAT Extra) and for HRC (3.0 mm) it was INR 44,300/ MT (Including ED, VAT Extra).
[su_pullquote]Flat Steel Prices remained unchanged across India. Minor price changes observed in Ahmedabad. Demand in Mumbai remained dull. Prices in Hyderabad & Chennai remained stable.[/su_pullquote]
Markets in Mumbai also remained weak. An importer based in Mumbai expressed his pessimism owing to a dull demand in this region. Mumbai which is often considered as a key hub for trading of Flat Steel products, has not seen any good revival in demand as well. As per our conversation with a market veteran based in Mumbai, a slowdown in number of projects and lack of demand from automobile industry are to be blamed for a poor demand in this region. Demand from Pre-Engineering & Fabrication units has not seen any improvement either.
Price for HRC (2.5 mm) in Delhi remained unchanged at INR 43,500/ MT (Including ED, VAT Extra) and for HRC (2.0 mm) it was INR 44,500/ MT(Including ED, VAT Extra). Prices of GP (0.7 mm & 0.4 mm) have seen mild improvement of INR 200-250/MT in Delhi. Price for GP (0.7mm) remained at INR 52,750/ MT (Including ED, VAT Extra), whereas price for GP (0.4mm) stood at INR 54,250/ MT (Including ED, VAT Extra).
[su_quote cite=”Trader in Delhi”]There is a fair demand in the market. We expect the prices to remain stable for the month.[/su_quote]
Markets in Ludhiana didn’t witness any price changes. Prices for HRC & CRC remain unchanged at INR 43,500/MT and INR 48,000/MT (Including ED, VAT Extra) respectively.
[su_quote cite=”Trader in Ludhiana”]We expect prices to hold on to the current levels for the month. Supply of Flat Steel products by SAIL was good; however the supply from other manufacturers was quite low.[/su_quote]
Flat Steel prices in South markets also reported no price changes this fortnight. Trading prices for HRC in Chennai & Hyderabad remain unchanged at INR 44,500/MT and INR 44,000/ MT (Including ED, VAT extra) respectively. CRC prices for Chennai remained at INR 47,000/ MT (Including ED, VAT extra) whereas CRC prices in Hyderabad stood at INR 46,500/MT (Including ED, VAT Extra).
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