Steel Authority of India (SAIL) one of the major producers of flat steel in the country has increased its prices of HRC/CRC in the range of Rs 750-1000/MT. GP/GC price has increased by Rs 500/MT
Current ex-works prices for HRC are in the range of Rs 34000-35000/MT which is an increase in the prices by Rs 1000/MT compared to previous month. Prices of HRC in Ludhiana are in the range of Rs 40200-41200/MT (ED Included, Vat Extra). Whereas prices of GP in Delhi is Rs 50,500/MT for size of 0.7MM, Rs 50,750/MT for 0.6MM and Rs 51,500/MT for 0.4MM respectively.
Jindal Steel has also increased its flat steel price by Rs 1,000/MT, 5-10MM Plate is offered at Rs 36,000-36,500/MT (Basic) Ex- works Raigarh. However, TATA has not declared any prices for July'13. Current price for HRC is at Rs 40,000/MT (incl all taxes Jamsedhpur).
SteelMint have learned from market participants that ESSAR Steel has also increased their prices by Rs 1000-1250/MT in all flat steel range.
Hike in prices of the material is due to depreciating rupee against dollar which has affected the import of HRC/CRC making domestic (India) material more viable than imported.
Imported (HRC) material reaching to country from China and Japan are hovering in the range of $520-540/MT CFR Indian ports for size of 2MM and 3MM respectively. SteelMint has learned from sources that Imported CRC material at Hyderabad is at Rs 42,500/MT (Landed Cost) for the material having a width of 1220-1225MM.
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