With the upcoming Holi festival this week, HRC/CRC prices have remained almost stable with minor fluctuations. Current offers for 2.5mm HRC are being assessed at INR 34,500 (ex-Delhi and Mumbai) and INR 35,000 (ex-Chennai).
0.9mm CRC offers are are heard at INR 39,000 (ex-Delhi and Mumbai) and INR 38,500 (ex-Chennai).
“In traders market there is no movement in prices because of upcoming Holi festival. Also financial year end is approaching and there is shortage of funds in the market resulting in poor buying interest. Market will move only after 31 Mar’16”, quoted a trader based in Delhi.
As per market sources, it is anticipated that primary producers may further increase their flat products prices in the coming month of April.
However, after this price hike from producers end, whether prices will increase subsequently in traders market remains to be seen. This is because already retail prices are so high that it is unlikely that buyers will accept further price rise.
Leave a Reply