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Home Steel News Indian steel mills seek to raise HRC prices in domestic market
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Indian steel mills seek to raise HRC prices in domestic market

29 Sep 2011 14:55 reported by Wendy

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It’s reported that Indian steel mills have sought to raise the prices of hot rolled coil (HRC) by INR1, 500/ton in domestic market, considering to rising input costs and declined imports caused by depreciated Indian rupee.

It’s known that Essar Steel has announced to raise the domestic prices of HRC produced in October by INR1, 500/ton.

Industry sources indicated that the other Indian steel mills would follow Essar Steel to hike HRC prices.

In fact, Indian steel mills had ever sought to raise the domestic prices of HRC produced in September by INR1, 000/ton; however, the price rise was unfavorable to buyers.

Indian steelmakers said that the prices of imported raw material have been pushed up by the appreciated US dollar and the iron ore prices have surged due to shortage.

Affected by these factors, Indian steelmakers believe that they will be able to hike the October price successfully.

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