SteelMint learned from market sources that this week Indian HRC prices in traders market have inched down in few key markets by around INR 200-500/MT, however in other regions prices have remained firm.
Current trade reference prices for HRC (IS2062) 2.5 mm-8 mm is around INR 42,000/MT (ex-Mumbai) and INR 41,500-42,000/MT (ex-Delhi). The prices mentioned above are basic prices excluding GST @ 18% on cash payment basis.
Currently trade reference prices for CRC (IS513) 0.9mm is hovering in the range of INR 47,000-47,500/MT(ex-Mumbai) and INR 47,000/MT (ex-Delhi) .The prices mentioned above are basic prices excluding GST@18% on cash payment basis.
Towards the end of last week major Indian Mills announced a roll over in flat steel prices for Jan’19. Trade participants reported drop in buying activities this week as they were anticipating price cut. This has limited trade activities this week.
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