After a week of imposition of trade barriers such as anti-dumping and safeguard duty on HRC, CRC and Plates, market sources have informed SteelMint that domestic manufacturers have raised their flat products prices in the range of INR 500-1,000/MT amid positive sentiments.
Current offers for 2.5mm HRC (IS2062) are assessed at INR 33,500/MT (ex-Delhi), INR 34,000/MT (ex-Mumbai) and INR 35,000/MT (ex-Chennai). Prices include excise of 12.5%.
0.9mm CRC (IS 513) offers are however heard at INR 38,500-39,000 (ex-Delhi) and INR 39,000/MT (ex-Mumbai) and INR 39,500-40,000/MT (ex-Chennai). Prices include excise of 12.5%.
Till last week, traders in secondary market were selling their products at a discount of INR 1,000-1,500/MT in order to clear their stocks. However, with positive sentiments in the market after imposition of various trade restrictions, prices in secondary market have come at par with that of manufacturers’ prices.
“JSW has increased its flat product prices by INR 1,000/MT whereas SAIL prices have increased by INR 500/MT. However any price increase from Tata Steel’s end is still awaited”, quoted a trader based in Faridabad.
“As domestic demand is still sluggish due to rainy season, further price rise is not possible this month. Demand will probably improve in the next month when rain intensity will reduce and thus prices may also move up subsequently”, quoted another trader based in Delhi.
Indian HR/CR Prices as on 8 Aug’16
|
Particulars |
HRC |
CRC |
| Ex-Mumbai | INR 34,000-34,500 | 39,000 |
| Ex-Delhi | INR 33,500-34,000 | 38,500-39,000 |
| Ex-Chennai | INR 34,500-36,000 | 39,500-40,000 |
Source: SteelMint Research
Prices include excise of 12.5%
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