It’s reported that the Indian steelmakers are seeking to raise hot rolled coil (HRC) prices recently due to increased steel prices in international market and depreciated Rupees.
However, market participants said that the Indian steelmakers might fail to raise prices.
In fact, the Indian steelmakers sought to raise the HRC prices by INR1, 000~INR1, 250/ton in July but they failed due to sluggish demand.
At present, the mainstream ex-work prices of HRC remained at INR33, 750~INR34, 250/ton.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65684&division=A2
