Some sources stated that low demand will suppress prices and monsoon rains will slow down construction activities.
Domestic HRC offer prices remained flat at INR 53,000-53,500 (USD 634.87-640.87) per tonne ex-Mumbai for IS2062/E250 BR grade. CRC offers also remained stable at around INR 59,500-60,000 (USD 712.57-718.56) per tonne for IS513 Grade O.
HR plate offers remained flat at INR 53,000-54,000 (USD 634.73-646.71) per tonne in the retail market for the E-250 base grade.
In India's import market segment, Chinese HRC offers stood at USD 530-535 CFR India per tonne for commercial-quality base grades for July/August shipment. Prices remained flat on a weekly basis.
Vietnam-origin offers also remained flat on a weekly basis and were at the level of 570-575 USD CFR India per ton. All import quotations were given for the same grades and shipping times.
On Monday, Indian ministers reportedly held talks to discuss rising imports, especially from China. Indian manufacturers are calling on the government to increase customs duties.
India's export activity to Europe remains low due to continued weak demand and limited offers from Indian producers.
Comments
No comment yet.