Large Indian integrated steel mills have commenced increasing base prices across flat products with immediate effect for all deliveries, SteelOrbis has learned from industry circles.
The source said that JSW Steel Limited has increased prices of flat products by INR 750/mt ($9/mt), taking the effective base price of hot rolled coil (HRC) of the mill to INR 57,750/mt (709/mt) ex-works and that of cold rolled coil (CRC) to INR 64,500/mt ($791/mt) ex-works.
ArcelorMittal Nippon Steel Limited (AMNS) has also announced a INR 750/mt ($9/mt) increase in its listed price of flat products taking its effective HRC price to INR 57,750 ($709/mt) ex-works and its effective CRC price to INR 64,250/mt ($788/mt) ex-works.
Trade circles said that other integrated mills like Steel Authority of India Limited (SAIL) and Tata Steel will also announce revised prices for current deliveries over the course of the next few days.
Indian mills had resorted to two rounds of price increases across flat products in the past month, and for February the base prices are also expected to up go in few steps.
