Steel Authority of India (SAIL), India's largest flat steel manufacturer has kept its HR Coil prices unchanged for the remaining month of August. Prices have rolled over due to moderate demand and low import in the country.
Currently, ex-works prices for HRC 2.5 mm across the country are in the range of Rs 34,000-35,000/MT (Basic, ED, tax extra). Whereas, prices trading in retail in major locations are in the range of Rs 39,000-41,000/MT (Inclusive of ED, taxes extra).
SteelMint learned from the sources that Uttam Galva and TATA Steel have increased the prices of CR Coil and GP Coil by Rs 1,000/MT and Rs 6,00/MT respectively in Mumbai (Maharashtra). Currently, CRC (0.7 mm and above) in the Mumbai are available at Rs 45,000/MT (Inclusive of ED, taxes extra), and GP coil of size 0.75 mm is available at Rs 51,500/MT (Including all taxes). Decision to hike the price was taken over low import in India, due to non viability of material, against the increasing dollar price over rupee.
Imported HRC coming to India from Ukraine is available at USD 525/MT (equivalent to INR 32,400/MT) FOB Black Sea. Similarly, material coming from China is being traded at USD 540/MT (equivalent to INR 33,300/MT) FOB Shanghai. “Domestic prices are more competitive than imported price and quantity can be booked as per requirement” stated a well know importer based in Mumbai.
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