Flat product prices have moved up globally with market sentiments being positive
for the near term.
Area wise market highlights are as follows:
UK: The effective prices for
S275 HRC this week were quoted at ($792/MT) i.e. stable from last
week, but further increases are expected. “Tata Steel in UK is almost fully booked
for April and traders have low stocks at docks of HRC”, said a trader.
Turkey: Turkish producers are
offering CRC at $800-820/tonne ex-works as against $760-780/MT in early
February and prices in the near term are expected to increase by $10-20/MT. Offer
for HRC also moved up to reach $720/MT ex-works last week i.e. up by $40/MT
from early February.
China: Traders lifted their
offer prices to test the market after the rise in inventory levels
slowed down and in anticipation of a seasonal improvement in end-user demand
next month. Prices of Q235 5.5mm HR Chave increased to RMB
4250-4260/MT ($674-676/MT).
India: GP Coil Prices of ESSAR went up by Rs 300-500/MT. GP Coil of 0.85
mm was quoted at Rs 43,900/MT i.e. up by Rs 200/MT. Whereas, 0.45 mm was
quoted at Rs 45,500/MT i.e. up by Rs 500/MT from the prices quoted previous
week.
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