Indian Flat steel market has become quite volatile since beginning of 2017. This week, domestic flat steel prices have shown significant fall of INR 1,000/MT in the traders market. It is to be noted that last week flat steel prices corrected up to INR 700/MT in trader’s market.
Despite reduction in offers in trader’s market, manufacturers continue to keep prices firm.Prices of flat products are falling owing to poor and slack demand prevailing in the domestic market. Hence due to weak demand and higher inventories, traders are compelled to reduce offers.
Current prices of HRC are assessed in the range of INR 42,500-43,000/MT (ex-Mumbai ), INR 43,000-43,250 (ex-Delhi).Prices are inclusive of Excise Duty of 12.5%.
Current prices of CRC are registered in the range of INR 48,300-49,000/MT (ex-Mumbai), INR 49,000 – 49,500/MT (ex-Delhi). Prices are inclusive of Excise Duty of 12.5%.
Prices of GP/GC are heard to be in the range of INR 54,300-55,000/MT (ex-Mumbai) and INR 54,000-54,500/MT (ex-Delhi).Prices inclusive of excise duty 12.5%
Despite sluggish and poor demand in the domestic flat steel market, SteelMint has heard from trade sources that Indian steel biggies are planning to raise the flat steel prices by INR 1,500-2,000/MT in the first week of Feb’17.
Leave a Reply