Major Flat Steel players expect prices to increase which has triggered demand in North India as a result, inventories cleared.
JSW, one of the largest Flat Steel manufacturers in the country has announced the price hike of 2% for Jan’14 last week. It is being learned from industry sources that prices of SAIL and TATA may also increase by INR 800-1200/MT. Current offer of JSW in North India for HR Coil are at around INR 43,500-44,500/MT (ED included, VAT Extra). Whereas offers of TATA and SAIL are in the range of around INR 42,500-43,500/MT. (ED included, VAT Extra).
T.V. Narendran, Tata Steel’s Managing Director for India and South-East Asia, said in a statement to the media, “We continue to invest in building new facilities and capabilities as we are bullish about the long-term growth prospects of our country.”
[su_quote]”Flat Steel demand generally remains good during the months of January to March. The demand in this period witnesses an uptick from automotive sector owing to increased prices of Automobiles. We expect primary manufacturer will also remain bullish” said a SAIL dealer based in Ludhiana.[/su_quote]
[su_quote]“Stock level in SAIL’s yard and with TATA’s stockiest remains low as every trader is bullish towards the price hike. Generally stock in Ludhiana remains in the range of 25,000-30,000 MT, but at this time when demand increases, inventory reaches to about 5,000 MT.” said a trader based in the region.[/su_quote]
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