Flat steel (HRC &CRC) arriving to India from china has witnessed a decline of $5-10/MT recently according to the sources.
Currently HRC reaching to India from china is in the range of $535-540/MT (CFR Mumbai, Rs 32,400) and price of HRC to be exported from CIS is in the range of $500-505/MT. Similarly CR Coil reaching to India form China is in the range of $580-585/MT (CFR Mumbai, Rs 34,800).
Decline in prices has limited effect in the market due to Indian rupee getting weaker compared to US Dollar that makes final realization equal. Earlier material imported cost were in average of Rs 31,000-32,000/MT
Whereas, domestic (India) flat steel prices are at the same levels, current price of HRC in the country are in the range of Rs 33000-34000/MT and price of CRC is in the range of Rs 38000/MT (Ex-works taxes extra)
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