SAIL HR/CR coil price might fall by Rs 500/MT for June'13 – source

SAIL might correct HR coil price by Rs 500/MT in June'13 over sluggish demand, SteelMint learned from market participant in Delhi and Ludhiana. HR Coil of 2MM is trading at Rs 40,500-41,500(VAT Extra) in the region. SAIL has increased prices on April'13 by Rs 1,200/MT. SAIL is also aggressively extending its dealer network from present 2600-2700 to 2900 dealers in India. 

Jindal Steel & Power Ltd (JSPL) is herd to maintain its price for June'13 month for plate.  Plate of 6-10MM is offered at Rs 35,500-35,000/MT (Basic) Ex works. VR Sharma head of operation JSPL in an interview said, “There has definitely been pressure on profits but there are profits. Still Indian companies are not in red, they are in black so I think things will pick up in the next two or three quarters…with the infrastructure projects, which the government has already declared, things must look better.”

PPGI of 0.5MM and above is trading in Ludhiana at Rs 53,000/MT (Basic, ED and taxes extra) that is same as offered from April'13 onward.