With major consumer sector remaining downwards and domestic demand for flat steel remaining low it is heard that country's largest steel manufacturer Steel Authority of India (SAIL) may increase its flat steel prices by INR 700-1,000/MT considering low import and high raw material cost, said reliable sources located in North India. The price if revised will be the second consecutive increase after September month hike of INR 1,750/MT. However price revision confirmation may come till 5-7th of Oct'13
However, there are mixed sentiments prevailing in market, on a side traders across North India are saying the prices are expected to rise consequently from last month hike; on the other hand traders based in Eastern and Western region are saying prices will remain same as market is absorbing previous month hike. While traders in Southern India said prices may hike due to strong export and some are of the view that price will roll over as domestic demand is not picking in Automobile and infrastructure sector.
Currently prices of HRC across country in retail is at around INR 37,000-37,500/MT (USD 595-605) whereas imported material reaching to the country from China and Japan is at around USD 570-575. Its also being learned importer has started taking query in Eastern region to import material from China.
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