Indian HRC price increases continuously
2013-01-23 09:36:49 [Print]
BEIJING (Asian Metal) 23 Jan 13 - Current price for HRC SS400 3.0mm*1,250mm*C in India is USD665-675/t (VAT included), increasing by USD15-20/t compared with that of last week. Producers are still eager to raise list prices further, but it’s hard for downstream customers to accept.
A HRC trader from Mumbai reports to Asian Metal that the price for SS400 3.0*mm1,250mm*C is about USD675/t, up by USD20/t within last week.
The source reveals that the rupee kept losing value with a depreciation of 16% from September to December last year, which made a tough time for local economy. Therefore, the high list prices for HRC from local steel mills are hard to be accepted by downstream users.
A HRC trader from Gurgaon shows that the price for SS400 3.0mm*1,250mm*C is about USD665/t, up by USD15/t over that of last week.
According to official data, the GDP growth rate for India last year was 5.3%, which is still lower than the expectation though the government once reduced it from 6.5% to 5.5%. "Last week, the major steel mills in India such as Rashtriya Ispat Nigam Limited (RINL) and JSW Steel hiked the HRC prices by INR500~INR1,000/t, which is the main reason for price increase, but the demand remains dim," he adds.
A HRC trader from Mumbai reports to Asian Metal that the price for SS400 3.0*mm1,250mm*C is about USD675/t, up by USD20/t within last week.
The source reveals that the rupee kept losing value with a depreciation of 16% from September to December last year, which made a tough time for local economy. Therefore, the high list prices for HRC from local steel mills are hard to be accepted by downstream users.
A HRC trader from Gurgaon shows that the price for SS400 3.0mm*1,250mm*C is about USD665/t, up by USD15/t over that of last week.
According to official data, the GDP growth rate for India last year was 5.3%, which is still lower than the expectation though the government once reduced it from 6.5% to 5.5%. "Last week, the major steel mills in India such as Rashtriya Ispat Nigam Limited (RINL) and JSW Steel hiked the HRC prices by INR500~INR1,000/t, which is the main reason for price increase, but the demand remains dim," he adds.
