After the anti-dumping duty announcement on flat products in the first week of Aug’16, country’s domestic steel market is consumed with positive sentiments. The effective increase in flat products prices in the month of August is of INR 1,000-1,500/MT.
Now SteelMint has heard from its market sources that Indian manufacturers are planning another increase of INR 1,000-1,200/MT in the first week of Sep’16.
“With the monsoon season almost over, the demand is likely to pick up in the upcoming months and thus, chances are high that market will accept the planned price increase”, quoted a trader based in Delhi.The monsoon period is usually lean season for steel sector.Demand from flat products consumer segments like automobile and consumer durable industry improves during festive season which is also prompting manufacturers to increase flat products prices.
However, the week has opened with unaltered prices against last week. Current offers for 2.5 mm HRC (IS2062) are assessed at INR 34,500-35,000/MT ex-Mumbai and INR 35,000/MT ex-Delhi.
While, offers for 0.9 mm CRC are heard at INR 40,000/MT ex-Mumbai and INR 39,500-40,000/MT ex-Delhi. Prices include excise of 12.5%.
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