Domestic flat steel prices this week opened with stable prices. Indian flat steel market remained static on account of festive holidays early this week. Since demand has also not shown any major shift leading to stability in prices. However trade sources shared that prices are likely to move up in the near term.
Currently HRC (IS2062) 2.5mm-8mm is assessed in the range of INR 40,500-41,000/MT (ex-Mumbai), INR 40,000-40,500/MT (ex-Delhi) and INR 40,500/MT (ex-Chennai). Prices are inclusive of Excise duty 12.5%.
Currently CRC (IS513) 0.9mm is hovering in the range of INR 46,000-46,500/MT (ex-Mumbai),INR 46,500-47,500/MT (ex-Delhi) and INR 46,000-47,000 /MT(ex-Chennai).Prices are inclusive of Excise duty 12.5%.
As per market sources report to SteelMint, Indian steelmakers are planning to raise the domestic flat steel prices marginally by INR 500-1000/MT in the end of March or in the first week of Apr’17.
Indian manufacturers are banking on export options owing to higher profit margins in the global market. Market participants highlighted that Indian steel makers like JSW Steel etc have booked significant amount of export shipments in Feb & Mar’17.
This has resulted in shortage of material availability in the Indian flat steel market and compelling the Indian manufactures to increase the domestic flat steel prices.
Leave a Reply