SAIL keeps increased price constant whereas India flat import witness downfall

SAIL, the biggest manufacturer of flat steel product in India keep its domestic prices stable after price hike announcement of Rs 1000-1250 in March’13. 

Delhi plate 8-10MM is traded at Rs 40250 (+VAT), 2MM HR coil is offered at Rs 39800-40000 (+VAT) and  whereas in Ludhiana, material of Bokaro Steel Ltd (BSL) coil is trading at Rs 40800 (+VAT) and Rourkela material is trading at Rs 39800 (+VAT). 

“We are expecting a discount announcement of Rs 500-700/t at the month end”, said a SAIL dealer in Ludhiana. He also confirmed trading of PPGI color quoted material at Rs 52500 (Basic) domestic origin. 

Mumbai, imported material is trading at Rs 39000-39500 (+VAT) of size 2-10MM. “Demand is weak, we expect that April is going to witness major fall in import”, said Mumbai based importer. In March'13, India imported 4.85 lakhs tons that is down by 1.8 lakhs tons in comparison to 6.60 lakhs import in January'13.