Indian mills put up domestic prices for HR products

摘要

Trading companies and end users still show little interest in HR coils in India. Nevertheless, local steelmakers have mostly raised domestic prices in the rupee terms over the past two weeks. The upward policy is related to significant devaluation of the rupee against the US dollar as well as almost non-existent competition with overseas suppliers whose offers have become unworkable after the dramatic increase. As a result, Indian mills have managed to get considerably higher transaction prices. Stocks are low in the country.