In the beginning of this week Indian major steelmakers have made announcement for HRC, CRC for August deliveries.Few major mills like JSW & Essar Steel have cut prices by INR 500-750/MT however SAIL has roll over HRC prices.
However market sources shared that HRC, CRC trade prices have edged up in few markets.
Current trade reference prices for HRC (IS2062) 2.5 mm-8 mm is around INR 45,000-45,5000/MT (ex-Mumbai),INR 45,000/MT(ex-Delhi) and INR 46,000/MT(ex-Chennai).The prices mentioned above are basic prices excluding GST @ 18%.
Previously traders remained under pressure to sell HRC at lower prices over sluggish demand.However post announcement by major Indian mills trade prices of HRC witnessed uptick in few regions over improved bookings.
Currently trade reference prices for CRC (IS513) 0.9mm is hovering in the range of INR 50,000/MT (ex-Mumbai),INR 49,500-51,500/MT (ex-Delhi) and INR 51,000/MT (ex-Chennai).The prices mentioned above are basic prices excluding GST@18%.
However few trade sources shared limited availability of CRC in northern regions like Delhi and Ludhiana.
Indian plate prices also move up domestic market-Recently market sources shared that Indian govt owned SAIL (Steel Authority of India Ltd) has increased plate prices by INR 500/MT in the month of August.
Currently trade reference prices for plates (IS2062 5-10 mm) are hovering in the range of INR 45,000-45,500/MT(ex-Mumbai) and INR 45,000/MT (ex-Delhi).The prices mentioned above are basic prices excluding GST @ 18%.
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