Domestic HRC prices have witnessed marginal decline owing to slow demand and weak purchases in traders market. Few market participants reported that owing to selling pressure over fiscal end traders were trying to clear their inventories, This has resulted in decline in sale prices.
Currently trade reference prices (basic) for HRC (IS2062) 2.5 mm-8 mm are assessed at INR 44,000-44,500/MT (ex-Mumbai), INR 45,500/MT(ex-Delhi),INR 44,500-45,000/MT (ex-Chennai). The prices mentioned above are basic prices excluding GST @ 18%.
However in CRC, market sentiments have remained optimistic with slight increase in prices. Trade reference prices (basic) for CRC (IS513) 0.9mm is hovering in the range of INR 49,500-50,000/MT (ex-Mumbai) INR 50,000-51,000/MT (ex-Delhi) and INR 49,000/MT (ex-Chennai).The prices mentioned above are basic prices excluding GST@18%.
On the other side,market sources shared that major Indian manufacturers are planning to raise the flat steel prices about INR 500-1000/MT in the month of Apr’18. However whether the price hike will be absorbed by the market or not, remains a question.
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