Large Indian integrated steel mills have hiked flat product base prices citing rising input costs and leveraging declining pressures from import competition, SteelOrbis learned from industry sources on Friday, March 6.
The mills have increased base prices for hot rolled coil (HRC) and cold rolled coils (CRC) by INR 750-1,500/mt ($8-16/mt), effective for all deliveries during March 2026.
Following the hike, the effective base price for HRC now stands in the range of INR 53,850-55,500/mt ($587-605/mt), while the effective listed price of CRC stands at INR 60,500-62,850/mt ($659-685/mt).
According to an official at a private mill, imported raw material prices have been on the rise, with, for example, the coking coal landed price up by $10-15/mt over the past one month.
At the same time, the gap between the landed price of China origin flat products and local prices had widened following the imposition of the 12 percent safeguard levy, allowing producers to improving local pricing, he said.
He said that, if the war in the Middle East is prolonged, it would have an impact on the cost of energy, which would also be translated into higher costs of production for local mills.
However, according to a Mumbai-based distributor, the latest round of base price hikes risks a correction of trade-level prices in the absence of any significant change in the demand profile across user industries.