Weak Dollars has compelled the domestic main producers to reduce their prices, from the month of July.
The weak dollars has made imports more cost effective. The landed cost, of imported HR Coils, is much more cheaper than the price of the domestic market.
As a result, the domestic main producers have already reduced their prices by 500/- per MT. Further reduction cannot be rulled out.
The export of Spring Steel Strip (Hardened-Tempered & Cold Rolled) has also faced a tremendous setback in the last quarter.Since this is a very special grade of strip, and is totally tailor made, the import of this particular Grade is not viable. But the export market is already in doldrums.
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