Domestic flat steel prices remained static this week over dull and passive demand prevailing in the domestic market. Since the domestic market sentiments continued to remain bearish forcing the Indian steelmakers to keep the flat product prices stable in the domestic market.
Currently HRC (IS2062) 2.5mm-8mm are assessed in the range of INR 38,500-39,500/MT (ex-Mumbai),INR 38,500-38,800/MT (ex-Delhi) and INR 39,500/MT (ex-Chennai). Prices are inclusive of Excise duty of 12.5%.
Currently CRC (IS513) 0.9mm is hovering in the range of INR 44,000-44,500/MT (ex-Mumbai),INR 43000-44,500/MT(ex-Delhi) and INR 45,000/MT(ex-Chennai).Prices are inclusive of Excise Duty of 12.5%
A trader based in Delhi quoted “Indian steelmakers are playing safe by keeping flat product prices stable amid GST announcement in the month of Jul’17”.
Furthermore, flat steel import bookings for Jul’17 deliveries also leads to weak buying activity in the domestic market.
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