India’s ArcelorMittal Nippon Steel Limited (AMNS) has taken an early lead in increasing flat product base prices by an average of INR 500/mt ($6/mt) with immediate effect, trade sources said on Tuesday, February 21.
Following the price increase, its base price for hot rolled coil (HRC) stands at INR 60,000/mt ($726/mt) ex-works and its cold rolled coil (CRC) base prices is at INR 67,500/mt ($818/mt) ex-works.
Trade circles said that market is nearly unanimous that most mills will increase flat product base prices in March, while the AMNS increase has arrived early and there is considerable speculation that more increases may be coming from the latter considering that its latest increase has been modest.
They said that more price increase announcements from integrated mills are expected to be seen over the next few days.
