It’s reported that Indian hot rolled coil (HRC) market has remained weak recently.
In fact, the Indian steelmakers have sought to raise HRC prices in spite of depreciated Rupees. However, the price rise was unfavorable to local buyers due to sluggish demand.
At present, the ex-factory prices of HRC are at INR33, 750~INR34, 250/ton.
Meanwhile, industry sources predicted that Indian HRC market might remain soft in the near short term since the rainstorm in northern Indian has affected the construction activity and depress the demand for HRC.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65228&division=A2
