Slowdown in the domestic market has not been able to stir up the Flat steel market. HRC & CRC prices across major trading regions remain stable on the backdrop of poor demand in the market. Faridabad, one of the prime trading hubs for Flat products, witnessed no change in prices.
SteelMint assessed that demand from Original Equipment Manufacturers (OEM) have seen some signs of recovery owing to improving demand from automobile components manufacturing units. However, demand from construction & fabrication units are yet to see any revival, said a dealer based in Faridabad.
HRC 2.5 mm price is stable at INR 42,400/MT. Whereas, Coils of 3.0 mm are offered at INR 42,100/MT.
One of the traders here mentioned, “SAIL has changed some policy for MoU holders for which the supply of Coils from SAIL is lesser in this region.”
Plate prices in Faridabad also traded at previous levels. HR Plate (5-10 mm) prices are at around INR 42,700-42,900/MT. Last month, few offers for imported Plates were settled at around INR 41,500/MT, but for this month traders have not received any offers till now.
Similarly, market in Chennai last week didn’t witnessed much activity owing to poor demand. However, some dealers here say that there has been a slow recovery of demand mainly in the construction & infrastructure sectors, as some projects have been cleared.
HRC (2.5 mm) in Chennai is offered at INR 42,500/MT whereas CRC of thickness 0.9 mm is trading at INR 51,500-52,000/MT for prime materials.
*All prices mentioned above are inclusive of ED, VAT extra.
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