India: Domestic HRC Prices Remain Firm After Last Week's Price Hike

This week Indian flat steel market observed stability in domestic prices.In the start of CY18 major Indian steel mills have raised flat steel prices upto INR 2000/MT over increased raw material cost and improved demand.

However trade sources reported fall in demand and reduction in buying inquiries in present week. In turn this has lessened the trade volumes against last week.

Trade reference prices (basic) for HRC (IS2062) 2.5 mm-8 mm are assessed in the range of INR 42,500/MT (ex-Mumbai), INR 42,500-43,000/MT (ex-Delhi),INR 43,000/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 46,000-46,500/MT (ex-Mumbai) INR 47,000-47,500/MT (ex-Delhi) and INR 46,500-47,000/MT (ex-Chennai).The prices mentioned above are basic prices excluding GST @ 18%.

Indian HRC prices have increased by about INR 3,500-4,000/MT in last one month.