India’s JSW Steel Limited has cut its hot rolled coil (HRC) base price for July deliveries while keeping base price unchanged for cold rolled coil (CRC), trade circles said on Thursday, July 6.
The steel producer has dropped its HRC base price by INR 1,000/mt ($12/mt) to INR 56,250/mt ($684/mt) ex-works, while its CRC base price has been kept stable at INR 62,250/mt ($757/mt) ex-works.
However, it remains unclear whether other integrated mills will follow suit, with a section of market participants observing that, with trade prices showing some stability, mills are not under pressure to adjust base prices and it is a possibility that JSW’s cut in price is “owing to internal dynamics”.
