India’s JSW Steel Limited has taken the lead in cutting base prices for flat steel products for May deliveries and other integrated mills expected to follow suit over the next few days, amid falling sales overseas and soft domestic demand, SteelOrbis learned from trade and industry circles on Thursday, May 4.
JSW Steel Limited has reduced base prices by INR 2,000-2,500/mt ($24-31/mt) across various flat steel grades.
Following the reduction, the company’s effective price for hot rolled coil (HRC) now stands at INR 59,750/mt ($730/mt) ex-works and cold rolled coil (CRC) at INR 66,000/mt ($807/mt) ex-works.
$1 = INR 81.80