Indian flat steel prices remain unchanged this week owing to slow demand and limited trade activities. At present, demand from traders and end users has been reported to have slowed down. Earlier this month Indian manufacturers had raised flat steel prices by INR 1000/MT.
However in few major markets like Faridabad , prices have moved up on weekly basis owing to limited material availability.
However on the other side supply constraints in domestic flat steel market has pushed the Indian manufacturers to keep the prices on higher side.As earlier reported by SteelMint , SAIL Bokaro steel plant faced fire breakout in its hot strip mill which was under maintenance is expected to resume the production by end of this week.
Currently trade reference prices (basic) for HRC (IS2062) 2.5 mm-8 mm are assessed at INR 45,500/MT (ex-Mumbai), INR 45,500-46,000/MT (ex-Delhi),INR 45,500MT (ex-Chennai). The prices mentioned above are basic prices excluding GST @ 18%.
Trade reference prices (basic) for CRC (IS513) 0.9mm is hovering in the range of INR 49,500/MT (ex-Mumbai) INR 49,000-50,000/MT (ex-Delhi) and INR 49,000/MT (ex-Chennai).The prices mentioned above are basic prices excluding GST@18%.
Indian domestic plate prices remain firm-Domestic plate prices remained firm post hike in flat steel prices in the beginning of March’18.
Currently trade reference prices (basic) for plates (IS2062) 5-10 mm are assessed at INR 45,000-45,500/MT (ex-Mumbai), INR 45,500/MT (ex-Delhi),INR 45,000MT (ex-Chennai). The prices mentioned above are basic prices excluding GST @ 18%.
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