After the Indian manufacturers announced the price hike of INR 500-700/MT for flat products in last week, prices in current week remained unaltered due to Dussehra holidays.
Current offers for 2.5mm HRC (IS2062) are being heard at INR 38,500-38,700/MT (ex-Mumbai), INR 38,500-38,800/MT (ex-Delhi) and INR 38,000 (ex-Chennai).While 0.9mm CRC prices are assessed at INR 43,500-44,000/MT (ex-Mumbai), INR 44,500-45,000/MT (ex-Delhi) and INR 44,000/MT (ex-Chennai).
Prices for 0.8 mm GP/GC are heard to be in the range of INR 49,500-50,000/MT (ex-Delhi and ex-Mumbai). All prices include excise of 12.5%.
Owing to Dussehra holidays, trading activities remained sparse this week. . If market sources are to be believed, there has been a price correction of INR 200-300/MT in traders market this week.
The market situation is likely to remain dull through out the month given the upcoming Diwali festival towards the month end.Demand is anticipated to pick up after the first week of Nov’16. There are speculations in the market that prices may go up by INR 500/MT from the manufacturers end in the month of November.
Flat products prices as on 15 Oct’16
| Particulars | HRC | CRC | GP/GC |
| Ex Mumbai | 38,500-38,700 | 43,500-44,000 | 49,500-50,000 |
| Ex-Delhi | 38,500-38,800 | 44,500-45,000 | 49,500-50,000 |
| Ex-Chennai | 38,000 | 44,000 |
*Prices in INR/MT
Source – SteelMint Research
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