Increase in prices of domestic Hot rolled coil (HRC) have made imports from China viable.

 

Chinese HRC for April-May shipment is quoted at Rs 42,500/MT for 2mm and Rs 43,500/MT for 1.6 mm of length 1250 mm. Whereas, domestic prices for HRC has been quoted at Rs 44,000 F.O.R.

 

According to a Mumbai based importer,” This is because domestic HRC prices, particularly in the retail market, have moved up by about Rs 500-750/MT, after the increases in tax and duty rates were announced in the Budget 2012″