India: Flat steel market remains unchanged, seeks hike of Rs 1000/MT in near term

Prices for flat steel remained stable on the back of
festival season, whereas industry experts like Mr. VR Sharma believe in rebound
of prices by Rs 1000/MT.

In a recent interview with SteelMint Mr.VR Sharma, CEO JSPL
says, “Steel prices will increase by Rs 1000/MT within a period of 10 days, due
to development in real estate. Lack of Iron Ore in domestic market will also
support the demand and supply” he said.  

Currently the market for HR Coil of size 2.5MM is at Rs
35800 Ex-Delhi i.e. stable from previous change, whereas on the other hand HR
Plates of size 8-20MM is at Rs 37500 Ex-Kutch.

Material can be offered below this level also, market is
expected to revive after the festival season is over i.e. end of November said
a company official from Welspun.