This week domestic flat steel market have fallen further marginally and also market participants are expecting for further correction in flat products prices in the near term.
However market participant mentioned that this week there has been marginal decline in flat product prices on account of slow and lull demand in the domestic market.
Currently HRC (IS2062) 2.5mm-8mm are assessed in the range of INR 40,000/MT (ex-Mumbai), INR 40,000-40,500/MT (ex-Delhi) and INR 40,500/MT (ex-Chennai). Prices are inclusive of Excise duty of 12.5%.
Currently CRC (IS513) 0.9mm is hovering in the range of INR 47,500/MT (ex-Mumbai), INR 48,250-48,500/MT (ex-Delhi) and INR 46,000-46,500/MT(ex-Chennai).Prices are inclusive of Excise Duty of 12.5%.
A trader based in Delhi has quoted “ Domestic flat steel prices are likely to decline further by INR 500-1000/MT on account of poor sales coupled with weak demand in the domestic market.
Moreover manufacturers and traders are providing rebates and discounts to consumers in order to push sales targets.Hence flat product prices comes under pressure as the demand in not supporting in the domestic market.
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