Indian steel manufactures prefer to keep their HRC prices unchanged for mid November on weak demand from automobile and construction sector. Market sources tell that weak rupee against USD and higher import prices have kept domestic market stable.
“Indian buyers are not looking at imports at the moment amid weak rupee and higher offers from China and Korea. Indian steel major Tata steel is offering IS 2062 grade HRC at Rs 40,500/t ($ 736/t, Incld excise of 12.36% and VAT). Demand is not very encouraging.” said a tube manufacturer based in Tatanagar.
Indian importers tell that they are getting offers at around $570-$580/t, CFR India from Chinese sellers, though no deals have been heard concluded at these prices.
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