INDIAN STEEL PRICE ROUNDUP FROM MEPS
According to the latest
report by MEPS, buying sentiment, for hot rolled coil, has failed to improve in
India. The Steel Authority of India (SAIL) has kept prices for its commercial
grade hot rolled coil material unchanged as a result.
The outlook for the plate market is unchanged. Local stockists report that the
settlement of payments from customers remains a problem. Moreover, demand from
state-funded construction and infrastructure projects has yet to come on-stream.
Cold rolled coil negotiated price settlement values were unchanged. Distributors
have been buoyed by an upturn in shipments to the automobile manufacturers.
However, orders from engineering and pipe fabricators were weaker than
previously forecast. Coated coil values were stable during the period under
Wire rod stockists are forecasting that trading volumes will begin to improve
from mid-September onwards. Structural section transaction values edged,
marginally, higher on the back of rising production costs.
Procurement activity, for rebar, remains weak. The pricing positions of
secondary producers based in the Central and Western states have begun to shadow
the cost of pencil ingots and billets
Merchant bar producers were unable to hold on to the price gains achieved in
weeks 36 and 37. Purchasing activity amongst local construction firms is weak.
Source: MEPS -
Steel Review - September issue
Also see: MEPS -
Indian Steel Prices Online
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