There is nothing to cheer for flat steel manufacturers and traders in India. Starting of the year, many manufacturers raised their offers by up to Rs 1,000/t amid rising global prices. But raised prices seems to be unacceptable by the market.
Traders claim that HRC and CRC is still available at December prices in domestic market due to weak demand. A tube manufacturer said to have bought HR coil of 2.5mm at Rs 39,500/t (Including Excise and Taxes, delivered site at Tatanagar).
Although steel manufacturers have some advantage on export front as weak Rupee and higher global prices have made exports attractive.
Last offers heard for exports are around $590-600/t FOB Indian west coast.
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