It's reported that the Indian steelmakers including Essar, JSW Steel are mulling to raise the hot rolled coil (HRC) prices by INR1, 000/ton in order to reflect higher raw material prices. At present, the HRC prices are at INR39,000/ton in the Indian market, rising by INR500/ton from a week ago. Meanwhile, the transaction volumes of HRC have increased recently, driven by the price rise news. However, industry sources predicted that the HRC prices might drop in the near future due to weak demand and high stocks hold by distributors.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=66053&division=A2
