Indian mills raise domestic HRC prices; rupee hits new low against US dollar

摘要

Indian mills have increased domestic hot-rolled coil (HRC) prices by at least 1,000 rupees ($13.54) per tonne for October sales.Mills have increased HRC prices to compensate for higher raw material prices due to depreciation of the Indian rupee, an executive at a private-sector steel mill said.The Indian rupee has depreciated by more than 5% since September and reached a new intra-day low of 74.23 rupees against the US dollar on Friday, making HRC imports costlier.