India's secondary steel producers, trade see decline as China price falls

Motilal Oswal says demand for long steel has moderated, possibly weighed by weakened construction activity

As steel prices fall in China, the Indian market is weakning even though primary producers have not reduced mill prices.

According to data from SteelMint, week-on-week, prices of hot rolled coil (HRC)--a benchmark for flat steel--showed some softening in the trade segment for markets like Delhi, Faridabad, Ahmedabad, Chennai and Kolkata.

Prices of HRC for the week ending January 17 in Delhi were at Rs 58,250 a tonne, Faridabad Rs 57,250 a tonne and Kolkata Rs 55,250 a tonne; for the week ending January 24, prices for the markets stood at Rs 56,500 a tonne, Rs 55,750 a tonne and