Trade-level hot rolled (HR) and cold rolled (CR) prices dipped by a slight INR 200/t ($2/t) last week. HRC prices dipped to INR 52,600/t ($629/t) and CRCs to INR 61,100/t ($731/t) post-decrease. The price fall was propelled by a few factors. First, buying was sluggish amid the fiscal year-end liquidity crunch. Secondly, mounting inventories, thanks to excess domestic supplies and imports, exerted pressure. Thirdly, traders and buyers went into a pause, awaiting the price support from mills for February amid squeezed margins.
