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India: HRC price likely to stay firm in festive season

Market participants are hopeful of upcoming Diwali festive season to boost demand and less chances of further decline in prices in near term.Further festive holidays will keep domestic HRC prices largely supported.
However with limited trade activities and delayed purchases by few end users have drifted down Indian HRC prices by INR 200-500/MT against last week in few markets. As per SteelMint's price assessment current trade reference prices in traders segment for HRC (IS2062,2.5-8mm) is at INR 34,000-34,750/MT (Ex-Mumbai),INR 34,000-34,500/MT (ex-Delhi) and INR

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