India: Trade level HRC, CRC prices fall by INR 300-600/t w-o-w

Trade-level hot-rolled (HR) and cold-rolled (CR) coil prices have edged down by INR 300-600/t ($4-7/t) in the key markets of Mumbai and Faridabad. This has come in the aftermath of the price increase announcement by major manufacturers at the beginning of the month. Moreover, it is the third month that mills have raised their list price tags. However, buyers have stood on the sidelines and are avoiding purchases in bulk volumes.

SteelMint's benchmark assessment (bi-weekly) for HRC (IS2062, Gr E250, 2.5-8mm) edged down by INR 500/t ($6/t) to INR 58,500/t ($703/t) as against last week's levels. Similarly, CRC (IS513, Gr O, 0.9mm) prices also inched down by INR 300/t (4/t) to INR 63,600/t ($764/t) in this period. (INR 1 =