Domestic flat steel market has become quite perplexed this week since the prices have started fluctuating in trader’s market.Flat products prices have seen declining by INR 500-1,000/MT,in traders market. However Indian manufacturers have kept the domestic prices stable against last week.
Currently prices of HRC (IS2062) 2.5mm-8mm are assessed in the range of INR 41,000/MT (ex-Mumbai), INR 41,000-41,500/MT (ex-Delhi) and INR 41,000-41,500/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 /MT(ex-Chennai).Prices are inclusive of Excise Duty of 12.5%.
As quoted by a trader based in Delhi that “Indian Flat products prices will be corrected soon by INR 500-1,000MT in May’17 over dull buying activities in the domestic market”.
Also the landed cost of imported HRC to India is presently cheaper by INR 2,000/MT than domestic offers, which might also put domestic flat steel prices under pressure.
Moreover, some manufacturers have also started giving rebates and discounts in the backdrop of subdued demand in the domestic market.
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