Tier-1 mills may roll over flats’ prices: Flats continued to labour under the pressure of weak demand and low trade volumes. As a result, the market buzz was tier-1 mills could roll over their end-February list prices for March deliveries. If so, benchmark HRC prices will remain stable at INR 54,500-56,000/t ($658-677/t) and CRCs, at INR 59,000-62,000/t ($712-749/t). Apart from tepid demand, distributors are awaiting clarity on the discounts for February before destocking.
