Recently, the prices of hot rolled coils (HRC) have rose by US$10/ton in Indian domestic market, driven by the fact that market participants expected that the steelmakers would rise the steel prices for December. It's learned that some major Indian steel mills have planned to raise the HRC selling prices for December. Also, the HRC prices offered by China and South Korea have increased by US$10/ton recently, helping to support the HRC prices to rise in Indian domestic market. Besides, the distributors have increased the HRC purchase volumes recently, boosting the prices.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=61789&division=A2
