This week Indian HRC/CRC prices remain unchanged after hike of INR 1,000-1,500/MT in last week owing to rising raw material cost.However demand is slow leading to thin buying activity in the domestic market.
Currently, reference prices (basic) for HRC (IS2062) 2.5 mm-8 mm are assessed in the range of INR 38,500/MT (ex-Mumbai), INR 38,500-39,000/MT (ex-Chennai) and INR 38,500-39,000/MT (ex-Delhi).The prices mentioned above are basic prices excluding GST @ 18%.
As per SteelMint assessment current reference prices (basic) for CRC (IS513) 0.9mm is hovering in the range of INR 43,000-44,000/MT (ex-Mumbai), INR 43,000/MT(ex-Chennai) and INR 42,000-43,500/MT.The prices mentioned above are basic prices excluding GST @ 18%.
Surge in raw material prices like coking coal (Premium HCC) prices have reached to USD 203.5/MT FoB Australia. Odisha based major merchant miners have raised prices twice in Aug’17 up to INR 600/MT owing to surge in sponge iron prices.
Moreover,market participants highlighted the Indian flat steel prices are likely to go up by INR 1000-1500/MT in the first week of Sep’17.
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