Market sources mentioned that Indian steel mills are offering considerable discounts of INR 500-1500/MT in order to boost sales in prevailing dull demand.
Indian flat steel prices remain steady in domestic market owing to Diwali festival approaching by the end of this week.Due to long festive holidays demand remains on lower side amid unaltered prices in the domestic market.
Currently, trade reference prices (basic) for HRC (IS2062) 2.5 mm-8 mm are assessed in the range of INR 37,500-38,000/MT (ex-Mumbai), INR 38,000/MT (ex-Delhi).
The prices mentioned above are basic prices excluding GST @ 18%.
As per SteelMint assessment current reference prices (basic) for CRC (IS513) 0.9mm is hovering in the range of INR 43,000/MT (ex-Mumbai) and INR 44,200/MT (ex-Delhi).The prices mentioned above are basic prices excluding GST @ 18%.
Market participants shared that owing to sluggish demand and lower sales volumes traders have started giving rebates and discounts to their customers.
However rise in prices by INR 2000/MT in the month of Sep’17 has not yet absorbed in the domestic market.Stockiest and traders remained distress as weak buying activity prevails in the domestic market.
Domestic plate prices remained stable– Indian plate prices also remain unchanged owing to festive holidays in the domestic market.Demand remains dull and buyers are reluctant to purchase now and waiting for a clear direction post festive holidays.
Currently reference prices (basic) for plates (5-10 mm, IS 2062) for this week are heard at INR 38,000/ MT (ex-Delhi) and INR 37,500/MT (ex-Mumbai).The prices mentioned above are basic prices excluding GST @ 18%.
Leave a Reply