Indian domestic Hot Rolled Coil (HRC) prices remain unchanged in the month of April despite slow demand.Current prices for 2.5 mm prime grade HR Coil is assessed at INR 37,000-37,500/MT (Ex-Delhi, Prices including Excise of 12.36%).
Rising imports of Steel has got the Indian Steel manufacturers worried. The manufacturers are hopeful that the government may increase import duty on Steel. Currently Steel imports attract a duty of 5-7.5% and 0-1.7% from Japan, Korea and ASEAN countries.
“Cheaper imports from Korea and China is a serious concern for Indian Steel mills. Cold rolled grade HRC offers from China are at around USD 400-405/MT and from Korea at around USD 430-440/MT CIF India for April/May shipments. Landed cost of imports is still cheaper by at least INR 3,500/MT (USD 56)” said a manufacturer based in western India.
Indian Domestic HRC Prices
| Particular | Prices |
| Delivered Delhi | INR 37,000-37,500/MT + VAT |
| Delivered Mumbai | INR 37,000/MT + VAT |
| Delivered Chennai | INR 37,000-37,500/MT + VAT |
| Delivered Kolkata | INR 36,500-37,000/MT + VAT |
| Chinese Exports to India | USD 395-405/MT, CIF India |
| Korean Exports to India | USD 430-440/MT, CIF India |
Leave a Reply