[Ferro-Alloys.com]Indian economic news is agog with sob story of INR having collapsed by 10% since May. Each day brings forth new lows and equally damning Indian Current account deficit. As the government grapples with catastrophic situation analyst churn out deluge of theories about the impact on trade and economy.

If Uttrakhand is reeling under natural disaster, Indian economy has been undergoing agony of plummeting economic indicators and debt burden. Rubbing salt to injury INR has plunged on rumblings QE3 roll back in USA. Greenback has dumped most of the currencies in emerging market.

To some extent it has aroused hopes of the domestic steel mills about import insulation in domestic market and enhanced export competitiveness.

If import offers of HRC at USD 550 per tonne fails to arouse interest in domestic buyers there certainly is a case for the mills to capitalize.