India: Domestic Flat Steel Prices Remain Unchanged Amid Stable Demand

This week India's flat steel prices remained steady post hike in flat steel prices by INR 750-1000/MT observed in the beginning of this month.

Currently trade reference prices (basic) for HRC (IS2062) 2.5 mm-8 mm are assessed at INR 45,000/MT (ex-Mumbai), INR 45,000-45,500/MT(ex-Delhi),INR 45,500-46,000/MT (ex-Chennai). The prices mentioned above are basic prices excluding GST @ 18%.

Trade reference prices (basic) for CRC (IS513) 0.9mm is hovering in the range of INR 50,000-50,500/MT (ex-Mumbai), INR 51,000-51,500/MT (ex-Delhi) and INR 51,500/MT (ex-Chennai).The prices mentioned above are basic prices excluding GST@18%.

A trader based in Delhi commented that,"Constant rise in flat steel prices has been absorbed in domestic market amid supply issue which is still prevalent.Thus limited supplies and stable inquiries have kept prices intact."

Domestic plate prices remain stable-Plate prices in domestic market remain stable amid weak purchases.

Currently trade reference prices (basic) for plates 5-10 mm (IS2062) 2.5 mm-8 mm are assessed at INR 44,500-45,000/MT (ex-Mumbai), INR 45,000/MT(ex-Delhi). The prices mentioned above are basic prices excluding GST @ 18%.