In the Indian domestic steel market, hot rolled coil (
HRC) prices have recently shown increases, although they are not supported by a demand improvement, as local market players indicate. Currently, in the local Indian market, offers for
HRC via traders are standing at the level of INR 33,000-33,500/mt ($734-745/mt) ex-warehouse, while Indian state-owned steelmaker
SAIL's domestic
HRC quotations stand at INR 32,000/mt ($712/mt) ex-works.
$1 = INR 44.94