India's largest steel producer, Steel Authority of India (SAIL), with an annual production of 14 mn has kept its November prices unchanged for most of its products, said chairman Mr CS Verma.
“The company has rolled over prices for the current month for its various products, even though there is 10-15 per cent increase in the global price levels.” said Mr Verma.
Currently HR coil prices of 2.5 mm in Indian domestic market hovers around Rs 36000/MT (Ex-Ludhiana), where as Chinese exporters have recently raised their offers to $570-580/MT CFR India (up by $5-10 from last month) on rising steel prices in Chinese market.
Slow demand in construction and automobile sector has subdued steel prices in India.
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