HRC market continues to remain lacklustre

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.

Source: ISMW

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