Prices of flat steel products (HR Coil and HR Plate) remained
stable due to following reasons:
* Competitive pricing due to rise of Imports in domestic market
* Poor buying but high raw material cost
* Festive Season haults re- stocking at end users
Currently the market for 2.5MM HR Coil stands at Rs 40,300/MT (Ex-Delhi) with prices remaining unchanged and that of Ludhiana and Hyderabad
stands at Rs 40,400 and 42,000/MT respectively.
Recent e-auction conducted by ESSAR steel for Size 2.3-3.5MM
coil price attracted a bid price of Rs 33,500/MT (Basic Price) of inferior
grade. Whereas prime material heard being sold in Ahmedabad at Rs 37800/MT (Basic
Price).
On the other hand
price for imported plate of size 5-12MM is at Rs 39,000/MT (Ex-Ahmedabad) and that
of size 2-20MM in domestic market stands at Rs 33000/MT (Ex-Raigarh)
Traders have mixed sentiment for future prices. “Prices of flat steel would decline in the range of Rs 500-700/MT in the
upcoming months as market has been unchanged from long time” said a trader
based in Kanpur. In contrary, “Demand from automotive sector is expected to
increase in the near future that will increase prices by Rs 500-700 on low
rebate.” Said another trader from Ludhiana.
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