It is prevalent that the global
flat product market has been receding over the past 2 months. The HRC prices in
the International market have been falling from past few months. So, cheaper
imports may infuse a competition in the Indian market and Indian steel mills are
expected to reduce their prices in December.
It is learnt that offers from
China is at USD 635/MT and it is evoking traders interest at Mumbai. Over the
past 1 month reportedly nearly 300,000 tonnes of HRC has been booked.
Current domestic level at Mumbai
is nearly INR 37,000/MT (excl ED and VAT) and the price parity between imported
& domestic prices is somewhere around INR 2700/MT. So, this makes imports
attractive.
So, the Indian mills should brace
up their act and reduce prices by at least INR1000 per tonne to INR 1500 per
tonne to attract buyers and maintain a competitive level.
Leave a Reply