After the end of the festive season,Indian flat product prices remains stagnant this week due to weak demand prevails in the domestic market.
Current offers for 2.5 mm HRC(IS2062) are being heard at INR 37,500-38,000/MT (ex-Mumbai), INR 37,000-37,500/MT (ex-Delhi) and INR 37,500 /MT (ex-Chennai).All prices include excise of 12.5%.
While 0.9mm CRC prices are assessed at INR 43,0000-43,500/MT (ex-Mumbai), INR 44,000/MT (ex-Delhi) and INR 43,500/MT (ex-Chennai). All prices include excise of 12.5%.
Speculations are being heard that Indian steel makers are planning to increase the flat product prices by 500-1000/MT owing to rise in coking coal prices.
However increase in flat product prices will not be accepted by the market as the demand remains sluggish this week on account of Diwali holidays.
Although further price rise may lead to landed cost of imports coming at par with domestic prices.
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