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Indian flat steel producers aiming for price hike - CARE Rating

Steel News - Published on Fri, 11 Aug 2017

Image Source: Master Builder
CARE Ratings in a latest report on steel said “As per media reports, flat steel producers increased the prices up to INR 3, 000 per tonne effective 1st August 2017. The increase in prices can be attributed to two reasons, expected improvement in domestic demand and growth in international steel prices.

In July 2017, the prices of CR coils and HR coils were up by INR 929 & INR 1580 per tonne compared to the prices in the previous month (June 2017). The price rise for both the varieties in the range mentioned above on a sequential basis was after a gap of five months. The prices in July 2017 are believed to have increased on account of an improved domestic demand and a rise in international steel prices. So, if the price hike which is undertaken for August 2017 is sustained and not rolled back, then the prices will be up for the second month in a row on sequential basis.

Concluding remarks

CARE Ratings believes that if the increase in domestic steel prices is sustained and there is no roll back of this increase in prices in the coming months, it will indicate the revival of domestic steel consumption in the country.

We expect steel prices in China to remain stable in the near term backed by Chinese government’s aim to reduce over capacity and to protect the air quality in the country. This, in turn, will support the steel prices in India.

Source :

Posted By : Sanju Moirangthem on Fri, 11 Aug 2017
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