Major Indian steel players are planning to increase the flat steel prices in the backdrop of surge in raw material prices coupled with upward trend in global market.
Indian flat steel prices is expected to hike further by INR 1000-1500/MT in the first week of Sep on rising production cost and rising cost of imports amid increasing prices in global market.
Odisha based major merchant miners have already raised iron ore prices twice in Aug’17. Coking coal of Premuim HCC prices have climbed further by USD 5/MT to USD 208.50/MT,FoB Australia.
Chinese HRC export offers have increased this week to USD 570/MT, FoB
However as of now prices remain unchanged and currently, reference prices (basic) for HRC (IS2062) 2.5 mm-8 mm are assessed in the range of INR 38,500/MT (ex-Mumbai), INR 38,500-39,000/MT (ex-Chennai) and INR 38,500-39,000/MT (ex-Delhi).The prices mentioned above are basic prices excluding GST @ 18%.
As per SteelMint assessment current reference prices (basic) for CRC (IS513) 0.9mm is hovering in the range of INR 43,000-44,000/MT (ex-Mumbai), INR 43,000/MT(ex-Chennai) and INR 42,000-43,500/MT.The prices mentioned above are basic prices excluding GST @ 18%.
However market participants mentioned that demand remained slow this week.
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