The hot rolled coil market remained lacklustre due to sluggish demand and tight liquidity, market sources told ISMW.
The domestic HRC market has remained in a state of limbo so far this month with buyers mostly continuing to resist the hikes announced by producers.
Prices in the market presently are quoted at Rs 33,750-34,250/ton ex-works for HRC, 3mm thick and above, about Rs 250/ton up from levels seen in January.
Sources said lack of liquidity and no "euphoria" in any of the steel-consuming and other sectors lead to the dismal demand.
This is pressuring steel market sentiments and prices, with domestic mills unable to secure price increases despite import offers remaining uncompetitive.
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