Indian steel makers likely to keep flat steel offers unchanged for October, said market analysts. Flat prices have dropped over Rs 1000/t in month of September. Eventually Chinese market also corrected by $15-20/t in the same month.
With Chinese market showing signs of revival, experts believe that Indian offers will be kept unchanged next month.
Domestic offers for HR coil of 2.5 mm stands at Rs 34,000- 35,500/t ($635-650/t) ex works excluding excise duty of 12.36 % and VAT, whereas import offers from China stands at around $530-535/t CFR.
“We do not see prices going down in coming month, instead we will not be surprised it some players raise their offers.” said a tube manufacturer based in Tatanagar, India.
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