Flat steel prices may rise by Rs 500-700/MT: Traders

Depreciating Rupee against dollar has affected the flat steel import that gives way to domestic producer to increase the price. Prices of flat steel, HRC &CRC, is all set to increase by Rs 500-700/MT SteelMint learned from market sources.

Currently the ex-works prices for HRC are in the range of Rs 33000-34000/MT, and CRC is at Rs 38000/MT. Hike in prices is expected due to Indian Rupee getting weak against the dollar value which has impacted flat steel import. Import of HR CR is down by 15-20% M-o-M. 

Traders and MOU holders across the country hold the following view when asked about the market:

“Prices are expected to increase by Rs 750-1000/MT as demand is good and imported viability were down due to weak Indian Rupee, more clear view will be available once the SAIL will declare its prices” Rajat Gupta, SAIL Dealer, Ludhiana

Prices are expected to Increase by Rs 1000/MT in all products HRC, CRC, and GP/GC. Price hike will have limited affect in the market, Hiten Sanghavi ESSAR Dealer, Ahmedabad

On the other side prices of imported material HRC & CRC reaching to country are at the same level due to decline in trade level of imported material. Current price for HRC is $535-540/MT while CRC is $580-585/MT.