Indian flat steel market has become stationery as weak buying sentiments continue to prevail in the domestic market. Domestic HRC/CRC prices in India continue to remain at last week levels with slight corrections in few regions.
Currently HRC (IS2062) 2.5mm-8mm are assessed in the range of INR 40,000/MT (ex-Mumbai), INR 39,500-40,000/MT (ex-Delhi) and INR 40,500/MT (ex-Chennai). Prices are inclusive of Excise duty of 12.5%.
Currently CRC (IS513) 0.9mm is hovering in the range of INR 46,000-46,500/MT (ex-Mumbai), INR 47,500/MT (ex-Delhi) and INR 46,000/MT(ex-Chennai).Prices are inclusive of Excise Duty of 12.5%.
A trader based in Mumbai has shared “ Domestic Flat product prices may decline marginally by INR 500/MT in near term since the demand has not shown any major shift in the domestic market.
Buying activity remains thin and moreover, imports bookings have also made in month of Mar-Apr’17 considering cost effectiveness to domestic prices, are also to arrive at Indian ports shortly.
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