Indian flat steel market remain static this week on sluggish demand prevailing in the domestic flat steel market. Traders and manufacturers have kept their offers firm on account of lower sales volumes and passive market sentiments in the Indian flat steel market.
Current prices of HRC are assessed in the range of INR 41,000-41,500/MT (ex-Mumbai), INR 41,000-41,500 (ex-Delhi).Prices are inclusive of Excise Duty of 12.5%.
Current prices of CRC are registered in the range of INR 47,000-47,500/MT (ex-Mumbai), INR 46,500 – 47,500/MT (ex-Delhi). Prices are inclusive of Excise Duty of 12.5%.
As quoted by the trader based in Delhi that “ liquidity crunch has started settling down, elections in different states has almost over and moreover February month is considered to be the peak season for steel industry but still demand is not showing any sign of improvement.”
Hence, holding huge inventors coupled with poor sale volumes has given enough scope to manufacturers to explore export options. Therefore, Indian steel manufacturers have raised their HRC export offers by USD 10/MT to USD 500-505/MT, FoB India.
Leave a Reply