HR coils, CR coils and plate prices continued to remain firm on April 12 on reports of extension of the safeguard duty for the next two years and the prevailing price gap due to the minimum import price (MIP) mechanism.
Offer prices for hot rolled coil (HRC) imports into India were up to $380 per ton CFR Mumbai from $350 per ton CFR a week ago, sources said.
Reports that the Directorate General of Anti-Dumping & Allied Duties (DGAAD) has initiated anti-dumping investigations into dumping of hot rolled coils, sheets and plates (including plate mill plates) into India, led to improvement in sentiments.
The six countries covered in the investigations are China, Japan, Korea, Brazil, Indonesia and Russia.
DGAD has prima-facie found sufficient evidence of dumping of the above mentioned steel products by these countries which have caused significant injury to the domestic steel industry.
The investigation has been initiated by DGAAD on the basis of the petition filed by Essar Steel India, SAIL & JSW Steel, and supported by Tata Steel and Jindal Steel & Power.
The products covered under the investigations are hot rolled coils of width up to 2100 mm and thickness up to 25 mm, hot rolled sheet and plates of a width up to 4950 mm and thickness up to 150 mm. All grades, including API, are covered in the ‘product scope’. The period of investigation is July – Decembe,r 2015.
Prices of flat products in various markets during the past one year (Rs/ton)
PRODUCT |
NAME OF THE MARKET |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Price Rs./Ton as on |
Daily changes |
12-Apr-16 |
11-Apr-16 |
14-Mar-16 |
15-Oct-15 |
13-Apr-15 |
|||
HR COILS |
DELHI |
30,700 |
30,700 |
30,400 |
29,500 |
33,400 |
⇔ |
HR COILS |
KOLKATA |
31,100 |
31,100 |
30,200 |
29,400 |
32,900 |
⇔ |
HR COILS |
LUDHIANA |
30,700 |
30,700 |
30,700 |
29,800 |
32,800 |
⇔ |
HR COILS |
HYDERABAD |
31,100 |
31,100 |
30,700 |
29,800 |
33,000 |
⇔ |
HR COIL IMPORT |
Imported (CFR |
380 |
380 |
320 |
297 |
405 |
⇔ |
CR COILS |
MUMBAI |
34,600 |
34,600 |
34,200 |
32,200 |
38,100 |
⇔ |
CR COILS |
LUDHIANA |
35,000 |
35,000 |
35,000 |
33,700 |
37,600 |
⇔ |
CR COILS |
HYDERABAD |
35,000 |
35,000 |
34,400 |
32,900 |
37,200 |
⇔ |
PLATE |
RAIGARH |
30,000 |
30,000 |
28,000 |
- |
- |
⇔ |
GP |
DELHI |
38,200 |
38,200 |
38,500 |
- |
- |
⇔ |
Source: Compilation from various sources & ISMW data