The price of cold rolled coils (CRC) is quoted at ₹58,200 per tonne since the peak of ₹86,300 per tonne in April 2022. Prices exclude 18% GST on the product.
“Prices of hot rolled coil and hot rolled copper coil in India are trading at their lowest level in three years. Rising imports have impacted domestic prices, which has affected demand,” BigMint said.
Read also: JSW Steel’s crude steel output in July rises 9% to 22.15 lakh tonnes
According to the data, imports during the April-June quarter rose 68% to 1.93 million tonnes (MT) from 1.15 MT in the same period of 2023-24. Steel imports rose 38% to 8.319 MT in 2023-24, making India a net importer of the product.
Steel industry players have raised the issue of rising imports from certain countries with the government and have requested measures to protect the domestic industry from increased shipments.
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