Continuous hike in prices of domestic HRC has led traders, MOU holders and end users of material to use imported material from countries like Japan, Korea and China. On the other side imported HRC reaching to country is also dearer at this juncture.
“HRC import prices in India are still too high and will have to drop further if there is to be a pick-up in buying activity any time soon”, say market participants.
Currently, price of HRC being imported is in the range of USD 570-580/MT, while domestic market prices are hovering in the range of INR 38000-40000/MT (USD 617-650).
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