Increased production cost and parity in export from India over high international prices will help Flat steel producers raise the prices for a second time in September by Rs 700-1,200/MT confirmed sources.
SteelMint learnt from market participants that demand for Flat Steel in domestic market is decent owing to low import. On the other side, Indian export market is doing quite well because of high dollar realization.
According to an MOU holder and trader based in Ludhiana “Prices were expected to rise by the mid of the month (Sep'13) but till date Flat Steel producers have not raised prices”. Rise in prices from manufactures are expected to be announced in a day or two. However CNBC today has reported that SAIL has hiked its Flat products (HRC) price by Rs 1,500/MT which is reported to be September's first revised price announced in first week.
JSPL, Tata and Essar are eyeing low import and may increase prices of HRC by Rs 700-1,200/MT to boost domestic sales as well, confirmed a Mumbai based Importer.
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