Prices of flat steel in Indian market to remain same with Steel Authority of India Ltd (SAIL) keeping its prices unchanged. However some MOU holder said price has increased by Rs 250-300/MT that has no impact on the retail price.
Current ex-works prices are in the range of Rs 33000-34000/MT which is same compared to the prices of previous month. Price of HRC in Ludhiana is at around Rs 39,500/MT of Rourkela Steel Plant (RSP) and Rs 40,500 of Bokaro Steel Ltd (BSL).
TATA heard to trade the same size of material at Jamshedpur at Rs 39800/MT including all taxes.
Imported (HRC) material reaching to country from Ukraine and Russia are hovering at $570/MT CFR Indian ports for size of 2MM and 3MM respectively, whereas importer are selling at Rs 38,000-39,000/MT (inclusive all)
Market participant said demand for flat steel is quite low as compared to long steel demand due to high production capacity, low auto demand and liquidity issue. that is forcing behemoth player to reduce the offer in bulk booking and its been herd offer of Rs 32000-32500/MT (Basic) ex works material is sold considering imported benchmark parity for long term contract.
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