India: Flat Steel Prices to remain Firm for August '13

With market being in a bearish condition from past few weeks. With rupee getting weaker against dollar and less buying interest in the market has made the prices of flat steel to remain at same levels.

Prices of HRC and CRC are expected to remain at same levels (Roll Over) as compared to the prices of last month.

Currently, the prices of HRC across India are in the range of Rs 39,000-40,000/MT, while the prices of CRC are in the range of Rs 44,500-46,000/MT.

On the other hand, imported materials reaching to India is at around USD 540/MT (Rs 32,400/MT)

“Prices will remain same but we expect that the primary producers will provide a rebate of Rs 500/MT when announcing the mid month prices” said a trader as well as an MOU holder based in Ludhiana.