Indian flat steel market remain stable this week owing to lesser buying activities in the domestic market. As the prices of flat products shooted up by INR 1,500-2,000/MT in domestic market last week has not yet passed in trader’s market. Hence the HRC, CRC offers remain unaltered this week.
Currently prices of HRC (IS2062) 2.5mm-8mm are assessed in the range of INR 41,500-42,000/MT (ex-Mumbai), INR 41,500/MT (ex-Delhi) and INR 42,000-42,500/MT (ex-Chennai). Prices are inclusive of Excise duty of 12.5%.
Currently CRC (IS513) 0.9mm is hovering in the range of INR 48,000/MT (ex-Mumbai),INR 48,250/MT (ex-Delhi) and INR 48,500 /MT(ex-Chennai).Prices are inclusive of Excise duty of 12.5%.
Moreover,market participants mentioned that in the month of March which is considered to be the end of financial year,when traders were busy dispatching the goods and finishing off their sales targets in the domestic market.However, rise in flat products prices have not yet accepted in the trader’s flat steel market.
Few trade sources highlighted if same situation prevails for the longer time then Indian steelmakers may offers certain rebates on flat steel products in domestic market.
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