After the recent hike of flat steel prices by major Indian players in first week of Jan’17 by INR 2,000-3,000/MT, this week domestic flat steel market has opened with stable prices. Offers in domestic flat steel market remained firm owing to slack demand prevailing in the market.
Limited trades have been heard in the market, as price hike led to slow demand in the domestic market.
Current prices of HRC are assessed in the range of INR 45,500-46,000/MT (ex-Mumbai ), INR 44,500-45,000 (ex-Delhi) and INR 45,500-46,000/MT (ex-Chennai). Prices are inclusive of Excise Duty of 12.5%.
Current prices of CRC are registered in the range of INR 49,000-50,000/MT (ex-Mumbai), INR 49,500 – 50,000/MT (ex-Delhi) and INR 49,000-50,000/MT (ex-Chennai). Prices are inclusive of Excise Duty of 12.5%.
Prices of GP/GC are heard to be in the range of INR 55,000-55,500/MT (ex-Mumbai) and INR 54,000-55,500/MT (ex-Delhi).Prices inclusive of excise duty 12.5%.
However, few market sources shared if demand starts to pick-up in the domestic steel market then Indian steel manufacturers may raise the flat products prices further by INR 2,000-3,000/MT, in the month of February.
Leave a Reply