Indian flat steel prices continues to remain stable this week owing to slack demand prevailing in the domestic market. Traders reported that domestic HRC/CRC prices continue to remain same with last week levels. However market participants are waiting for Feb’17 price revision which is likely to be announced in the 1st week of Feb’17.
Also industry participants are eyeing for the Union budget that will be presented in the parliament tomorrow (i.e. 01 Feb’17).
Current prices of HRC are assessed in the range of INR 42,500-43,000/MT (ex-Mumbai ), INR 43,000-43,250 (ex-Delhi).Prices are inclusive of Excise Duty of 12.5%.
Current prices of CRC are registered in the range of INR 48,300-49,000/MT (ex-Mumbai), INR 49,000 – 49,500/MT (ex-Delhi). Prices are inclusive of Excise Duty of 12.5%.
Prices of GP/GC are heard to be in the range of INR 54,300-55,000/MT (ex-Mumbai) and INR 54,000-54,500/MT (ex-Delhi).Prices inclusive of excise duty 12.5%
There is hardly any improvement in demand even after the hike in flat products prices. The market remains dull and the demand from the user segment has also became lean. Owing to poor demand in Indian flat steel market the traders are anticipating further fall in flat products prices in the month of February 2017.
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