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Prabhudas Lilladher Report
Indian Benchmark hot rolled coil price declined 0.2% week-on-week to Rs 52,600/tonne. Spot spreads for the week increased 6% week-on-week to Rs 21,953/tonne owing to a sharp decline in coking coal prices.
Chinese HRC price was flat week-on-week at $540/t while European HRC price declined 1% week-on-week to $590/tonne. Spot spreads for China and Europe increased 19% and 10% respectively to $147/tonne and $197/tonne due to sharp decline in input prices.
Coking coal price declined 6.4% week-on-week to $270/tonne as on March 19, and declined further to $262/tonne today. Iron ore prices declined 4.5% week-on-week to $104/tonne.
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