Indian HRC prices fall
2015-03-18 09:03:16 [Print]
BEIJING (Asian Metal) 18 Mar 15 - As imported HRC with lower purchase cost arrived at major cities of India, market prices for HRC moved down significantly. In addition, the downstream demand made no progress and participants have little confidence in coming market.
An HRC trader in Ludhiana reveals to Asian Metal that the current price for IS2062 3.0mm*1,200mm*C from local mills is INR37,500/t (USD598/t, VAT and exercise duty included), down by INR500/t (USD8/t) in past two weeks.
Noted by the source, the market price has not reached the bottom level as the demand is not strong enough to support a stable price. Prices for imported materials from China and South Korea keep decreasing. At the same time, local mills also cut list prices by USD5-10/t to get more orders. Considering the current dim situation, he shows little confidence in the coming market.
Another HRC trader in Kolkata reveals to Asian Metal that the price for imported SS400 3.0mm*1,250mm*C from China is INR33,500/t (USD534/t, VAT and exercise duty included), down by INR1,000/t (USD16/t) in the past week.
According to him, local traders are bidding for USD400-410/t CFR Mumbai for above grade from China. “Offers from China kept decreasing in January and February, imposing negative impact on Indian market,” he complains, cautious about placing orders. As for the price rebounding signs in Chinese market, the source expects it to bring some stimulus in coming two weeks.
An HRC trader in Ludhiana reveals to Asian Metal that the current price for IS2062 3.0mm*1,200mm*C from local mills is INR37,500/t (USD598/t, VAT and exercise duty included), down by INR500/t (USD8/t) in past two weeks.
Noted by the source, the market price has not reached the bottom level as the demand is not strong enough to support a stable price. Prices for imported materials from China and South Korea keep decreasing. At the same time, local mills also cut list prices by USD5-10/t to get more orders. Considering the current dim situation, he shows little confidence in the coming market.
Another HRC trader in Kolkata reveals to Asian Metal that the price for imported SS400 3.0mm*1,250mm*C from China is INR33,500/t (USD534/t, VAT and exercise duty included), down by INR1,000/t (USD16/t) in the past week.
According to him, local traders are bidding for USD400-410/t CFR Mumbai for above grade from China. “Offers from China kept decreasing in January and February, imposing negative impact on Indian market,” he complains, cautious about placing orders. As for the price rebounding signs in Chinese market, the source expects it to bring some stimulus in coming two weeks.
