Prabhudas Lilladher Metals and Mining weekly report:
Indian benchmark HRC prices (ex-Mumbai) declined 0.7% W-o-W to Rs 54,600/t after staying stable at around Rs 55,000/t for almost six weeks. Spot spreads declined 1% WoW to Rs 18,794/t from Rs 19,061/t due to lower prices. Indian HRC prices continue to trade at a significant discount on import parity basis.