The persistent low buying interest and bearish sentiments in the domestic market weighed on the trade segment prices of HR plates this week, leading to a correction of around INR 1,500/MT
HR plates (E250) of 5-10 mm thickness declined by INR 1,500/MT to INR 64,500-65,000/MT, ex-Mumbai, compared to last week's prices of INR 66000/MT
Demand is moving into a slowdown phase. With the arrival of monsoon, sectors like construction, pre-engineered buildings and heavy engineering. This has led to the recent dip in trades which have been persistently low since few months..
Automobile sector starts at a slow pace: Recovery from the auto-segment has remained slow post the easing of lockdowns across the country. Demand from auto giants had dropped owing to the closure of dealerships and showrooms since the outbreak of the second wave of Covid-19 in mid-March.
Mills continue to stand firm on their price..
Major Indian manufacturers of hot-rolled (HR) plates have kept their list prices stable although demand continues to remain sluggish,
JSPL's offers are hovering at INR 66,000/MT ex-works.
JSW's list price stands at INR 69,000/MT ex-works.
SAIL has also rolled over HR plate prices for this week with offers pegged at INR 67,000/MT ex-Mumbai.
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